CITIC Securities: Maintains a "Buy" rating for Minth Group (00909.HK) as it achieves positive profits in the first half of the year.

According to the Wisdom Financial APP, Zhongtai Securities released a research report stating that it maintains a "buy" rating on Mingyuan Cloud (00909.HK) and predicts that the company's revenue for 2025-2027 will be 13.18/12.71/12.66 billion yuan respectively, with net profit attributable to the parent company being 0.18/0.30/0.44 billion yuan respectively. In the first half of 2025, the company achieved operating income of 606 million yuan, a year-on-year decrease of 15.9%; achieving a net profit attributable to the parent company of 13.75 million yuan, and an adjusted net profit of 33.12 million yuan, both turning losses compared to the previous year; achieving a net cash outflow from operating activities of approximately 43 million yuan, a year-on-year net outflow reduction of 74.0%. In the first half of 2025, the company's revenue continued to be negatively affected by the downturn in downstream industries, with revenue continuing to decline. However, the company has increased control over costs and expenses and optimized and improved organizational operational efficiency, achieving positive profits in the first half of the year.