Weimeng Group continues to benefit from economic recovery and AI commercialization. Huatai Securities will give "buy" rating

 人参与 | 时间:2024-02-24 16:24:27

Recently,突发新闻 Huatai Securities issued a report,Reorganization of Weimeng Group (HK: 2013) "Buy" ratingEssenceThe report believes that as an important participant in the SAAS industry in China,Weimeng Group continues to benefit from the economic recovery. At the same time, the commercialization of AI technology can be expectedEssence

AI applications show their skills, micro -League WAI activates merchant productivity

"McKinsey China Financial Industry CEO Quarterly" analysis believes that the commercial application of China's generation AI industry is mainly focused on the more mature industries of commercial development.At present, the fastest development of domestic AI applications has focused on emerging industries with complete commercial infrastructure such as e -commerce.

In May 2023, the AI Applied Product Micro -League WAI was officially released, and it has been iterated to version 2.0.Since the official release, the micro -League WAI has continuously raised the barriers to actual business scenarios such as "intelligent construction, content creation, marketing promotion, and intelligent insight".In addition to continuously meeting the growing marketing needs of merchants, it also uses the third -party LLM model and micro -all -all -all self -developed technology to access its many SaaS products and services such as "Micro Mall, Enterprise Micro Assistant, OneCRM, Shopping Guide", so thatSaaS products become more convenient and easy to use through AIGC, and continuously improve product functions around business growth and business needs, expand application scenarios, and continue to increase AIGC+SaaS while deeply cultivating digital business.

In multiple big promotion nodes, the micro -League WAI was the first to show the strength of AIGC in the SaaS fusion scene.After the application of the smart marketing business sector, the technical iteration of the Micro -League WAI has been further improved.Relying on WAI's intelligent base, Micro League's own products and service capabilities have continuously enhanced, helping enterprises to achieve a comprehensive optimization of digital retail and marketing power.

During the double twelve period, the function of the function of the micro -League WAI Wensheng increased by more than 470%month -on -month, of which the number of product map posters increased by more than 270%month -on -month.Observing multiple major promotion nodes such as 618 and Double 11, the industry has gradually formed a consensus of "big promotion+AI", and after the end of the big promotion, the habit continues to daily operations.For example, after the end of the Double 11, the number of newly used merchants in WAI ushered in a 100%growth. After the number of product functions after the holiday, the maximum increase of more than 120%was over 120%.In addition, Micro -League marketing also uses WAI to improve the efficiency of advertising content, including creative pictures, has increased by more than 50%, and the content of the content generated by AI in the advertising business has been as high as 70%.

Micro -League continues to develop and continuously expand the application scenario of WAI.For example, the newly launched chart interpretation function can automatically extract the key data and information in the chart and perform intelligent analysis to help operators more convenient and accurately grasp the operating indicators of the store, and conduct targeted activity promotions.

Huatai Securities believes that the commercialization of Micro -League AI is expected to continue to land, driving business growth.

The business growth is strong, and the great customerization strategy is effective

The report of "Essen Chinese Enterprise Digital Transformation Index 2023" shows that it is compatible with changes in the external environment, and the connotation of digital transformation of Chinese companies is constantly evolving and enriching.From 2019 to 2023, articles on digital transformation of Chinese enterprises have increased 12 times, and the discussion of digital transformation has increased significantly.

In the first half of 2023, the income of Micro -League subscription solutions was 705 million yuan, an increase of 21.4%year -on -year; the number of paid merchants exceeded 100,000, and the average income of each user reached 7,047 yuan, an increase of 26%year -on -year.Among them, the smart retail business developed rapidly. In the first half of 2023, smart retail revenue was 312 million yuan, a year -on -year increase of 32%.Among the smart retail customers, there are 1,223 brands, and the average order income of each user of the brand merchant is 224,000 yuan.

In the SaaS industry, customer success is an important strategic means for business competition.Sun Taoyong, chairman and chief executive officer of the Board of Directors of the Micro -League Group, emphasized that the micro -alliance must adhere to long -termism and take customers as the center. The success of the customer is the biggest success of the Micro League.

Since proposing a big customer strategy in 2020, the Weimeng Group has continued to improve the ability of service customers through mergers and acquisitions, organizational adjustments, and research and development investment.It is particularly noteworthy that in 2022, the Micro -League Group launched the new WOS new business operating system and used WOS as the underlying "fulcrum" of the micro -alliance strategy.From trying to try smart retail integrated services, create integrated samples, and integrate superconducting capabilities, you can observe that the micro -alliance's large customerization strategy has satisfied the enterpriseDigital transformation needs have built digital business infrastructure for the long -term sustainable development of customers.

at present,The Micro -League has become the preferred partners in fashion shoes and clothing, home furnishings, fast -moving food, and beauty protection.Weimeng service customers accounted for 44%of the top 100 fashion retail sales in China, 47%of the top 100 commercial real estate, 40%in the top 100 chain convenience, and 43%in commercial real estate.

The Weimeng Group continues to deeply cultivate head customers and promote the continuous increase of the average income of each user for subscribing services.Huatai Securities believes that the subscription business is expected to continue to benefit from the release of large customers and smart retail business.

Advertising demand has a strong recovery, and the income of merchant solutions has increased by nearly 60 %

In the first half of 2023, with the recovery of economic recovery and consumption recovery, advertising demand strongly recovered, and video advertisements were also growing.According to data from the Ministry of Commerce, the total retail sales of consumer goods from January to August 2023 rose 7%year-on-year.The CCTV Market Research (CTR) shows that the overall investment in the advertising market increased by 5%year -on -year compared with 2022, and returned to the positive growth range.

Huatai Securities said that with the gradual recovery of the economy, the revenue of the micro -league solution is expected to continue to grow.

The 2023 semi -annual report shows that the revenue of Micro -League merchants' solution was 504 million yuan, an increase of 58.3%year -on -year.The hair income of merchant solutions (equal to the average number of mchanges per merchant spent X paid merchants) of 6.988 billion yuan, an increase of 66.1%year -on -year.Mainly due to the great increase in the number of paid merchants, the number of paid merchants increased from 26,770 in June 30, 2022 to 40,494 on June 30, 2023.

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