金山软件WPS变现能力仍有待观察,游戏业务或实现高基数下的稳健增长

开源证券
30 May

一、公司整体表现与评级维持金山软件(03888。HK)在2025年第一季度的表现中,尽管WPS个人业务增长有所放缓,且游戏业务面临高基数压力,但得益于金山云减亏释放的利润弹性,公司整体盈利能力仍具备亮点。分析师维持对该股“买入”评级,并略微调整了2025-2026年的归母净利润预测至20.0/24.2亿元,新增2027年预测为28.4亿元。当前股价对应PE估值分别为22.6/18.7/15.9倍。...

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