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2026-07-10 16:34:23 BofAS issued a research report initiating coverage on ILUVATAR COREX (09903.HK) with a Buy rating and a TP of RMB1,013. The broker said the company is a leading general-purpose graphics processing unit (GPGPU) enterprise in China and is expected to benefit from robust growth in China's AI accelerator market amid the localization trend. Combined with new product launches and customer expansion driving market share gains, as well as a diversified supply chain strategy supporting revenue scale expansion, the broker remained positive on its outlook. BofAS forecast ILUVATAR COREX's revenue CAGR for 2025-2028 to reach 145%. Adjusted net profit is expected to turn from a loss of RMB438 million in 2025 to a profit of RMB18 million in 2026. Net profit is projected to increase to RMB2.338 billion next year and further rise to RMB5.443 billion in 2028, with net margin expected to reach 32.3% in 2028. (gc/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |