Guosheng Securities: Initiating coverage on Zhuoyue Ruixin (02687.HK) with a "Buy" rating as market penetration steadily increases.

According to Zhituo Finance APP, Guosheng Securities has released a research report stating that Excellence Ruixin (02687.HK), as a leading provider of digital knowledge solutions in China, builds core barriers based on products such as knowledge graphs and intelligent agents. The product structure continues to optimize, and market penetration is steadily increasing. Revenue is expected to reach 1.33 billion, 1.80 billion, and 2.42 billion yuan from 2026 to 2028, representing year-on-year growth of +36.8%, +35.7%, and +34.5%, respectively; net profit attributable to shareholders is projected to be 200 million, 280 million, and 420 million yuan, with year-on-year growth of +51.9%, +43.9%, and +48.1%, respectively. This is the first coverage, with a rating of "Buy."