研報掘金丨中原證券:維持金山辦公“增持”評級,公司在AI應用的能力構建值得期待
中原證券研報指出,金山辦公(688111.SH)24年歸母淨利潤16.45億元,同比增長24.84%;每股收益3.56元。本次年報中,公司對於分業務的披露口徑由商業模式分類,轉變爲產品業務分類,未來將重點發展WPS個人業務和WPS 365業務。從新業務口徑來看,WPS個人業務(國內+海外)實現收入32.83億元,同比增長18%。從原口徑來看,兩大訂閱業務增長放緩,信創重回增長,海外業務高增。單季度來看,公司Q4分業務收入增速整體呈現轉強跡象。2025年公司在AI應用的能力構建值得期待。維持對公司“增持”的投資評級。
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