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<Research>CICC Lifts KNOWLEDGE ATLAS (02513.HK) TP to $900 as API Annual Recurring Rev. Sharply Beats Forecast
Recommend 13 Positive 27 Negative 27 |
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KNOWLEDGE ATLAS (02513.HK)'s 2025 results were in line with CICC's expectations, CICC issued a research report saying. In its 2025 results, revenue was RMB724 million, up 132% YoY, while adjusted net loss amounted to RMB3.18 billion. The 2025 results were in line with both the forecasts of the broker/ market. The Company disclosed that, as of March 2026, the API ARR (annual recurring revenue from app programming interfaces) for its MaaS (Mobility as a Service) has reached RMB1.7 billion, surging 60x YoY. Due to the improvement in model intelligence and the increase volume in downstream demand, the growth trajectory of API ARR in 2026 significantly beat the projections of the broker/ market. Therefore, CICC kept rating at Outperform for KNOWLEDGE ATLAS. Due to the Company's significantly larger-than-expected ARR, and considering the adjustments in profit forecasts and valuation pivot, the broker lifted its target price by 13% to $900, equivalent to a forecasted 50x PS ratio for 2027. 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. Auto-translated by AI AASTOCKS Financial News |
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