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2026-09-02 16:22:45 HSBC Global Investment Research issued a report saying that Z.AI (02513.HK) raised its annual recurring revenue (ARR) guidance for December this year to USD2.4 billion, in line with market expectations of between USD2 billion and USD2.5 billion. However, as the company proactively scaled back its domestic deployment software licensing business to shift toward open platform and API businesses, revenue and gross profit came in below expectations. The broker said that although it raised its ARR forecast for Z.AI, it lowered its total revenue forecast for the company by 6% to 15% and cut its earnings forecast by 10% to 40%, taking into account the company's reduction in high-margin businesses. It also lowered the TP from HKD1,500 to HKD1,375 while maintaining the Hold rating.(sl/u)~ 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. | |