CICC maintains an outperform rating on Ming Yuan Cloud (00909.HK) with a target price of 3.5 Hong Kong dollars.

According to Zhixin Finance APP, Zhongjin Securities released a research report stating that considering the impact of industry headwinds, the revenue forecasts for 2025 and 2026 of Bright Smart Securities (00909.HK) have been lowered by 18.0% and 17.6% to 1.27 billion yuan each. Taking into account the company's expense control, the adjusted net profit attributable to shareholders for 2025 and 2026 has been raised from -1.91 million yuan and 17.73 million yuan to 68.1 million yuan and 87.05 million yuan. Considering the industry valuation center moving up, the outperform industry rating has been maintained with a target price of 3.5 Hong Kong dollars (based on a 5 times 2025 price-to-sales ratio). The company is currently trading at a 5 times 2025 price-to-sales ratio.