AI Agent解决方案全面落地，出海业务已成为集团全新增长引擎

AI Agent解决方案全面落地，出海业务已成为集团全新增长引擎 Rare Leader with Full-Spectrum Terminal Channel Resources&AI and Overseas Expansion Unlock New Growth Potential 最新动态 ➢26Q1在线营销解决方案同比增长24%。2026年第一季度，集团在线营销解决方案业务产生之总账单金额录得约人民币4103.5百万元，同比增加约24%。该增长主要得益于集团与核心客户合作持续深化及协同效应增强，同时本集团积极拓展多元化客户群体及优质媒体渠道资源所致。于2026年第一季度，在线营销解决方案业务同比新增客户数量378家。在行业覆盖上，继续拓宽游戏、金融服务、旅行、教育等行业，客户覆盖广度及业务多元化程度均得到显著提升。 ➢公司AIAgent解决方案全面落地，智能化应用场景持续深化。优量平台完成2.0版本迭代升级，由营销投放全面升级为企业级智能管理穿透工具，透过素材资产精益化管理、智能投放与实时监控、全局数据实时洞察等核心能力，突破各媒体平台数据壁垒，构建集团自身的全局归因模型，将广告数据与后台业务数据深度关联；素材创制平台—优创不断迭代升级，平台现已集成小说快剪、图文智绘、脚本智写、矩阵影创及智能混剪等多项关键创意功能，全平台月均视频产量近35万条，素材单条成本同比下降35%。 动向解读 ➢集团已系统化构建出海业务板块，具体涵盖以下细分领域：（一）商品出海运营：26Q1，该业务经营表现亮眼，录得商品交易总额(GMV)突破人民币1400万元，同比增长199%；商品动销率超过80%，整体经营质量持续优化。26Q1，业务版图亦进一步拓展至亚马逊、eBay等新平台。（二）短剧出海运营：集团已于2026年初完成对海外短剧平台ChillShorts的收购，并完成短剧翻译及配音环节的AI工作流改造升级。2026年第一季度，该平台新增短剧内容逾100部，以精品本土剧为核心，保障优质内容持续供给；期内新增下载量超过20万，爬坡趋势明显。未来，本集团将重点发展AI真人剧及本土剧，目前已与合作方达成相关合作，相应剧目将在ChillShorts平台独家发行。（三）海外创意素材供应：基于内容生产领域的核心技术能力沉淀，集团已组建专门团队，围绕海外市场需求开展创意素材生产业务，为头部互联网平台客户提供紧密贴合海外用户审美偏好及文化语境的创意营销素材，助力客户国际化产品及项目实现高效用户增长。 策略建议 ➢盈利预测。我们预测公司2026-2028年归母净利润分别为1.92、2.62和3.52亿元，参考同行业公司，给予公司2026年22倍PE，按照港元兑人民币0.88汇率计算，对应目标价7.98港元，首次覆盖给予“买入”评级。 风险提示 ➢媒体供应商集中的风险；客户结构与行业周期风险；财务与会计政策风险；新业务盈利风险。 分析师介绍 分析师庄怀超，拥有北京航空航天大学本科学位和香港大学金融学硕士学位。该分析师2022-2024年曾任职于海通国际研究部，团队2022年获得过亚洲货币第一名，该分析师2025年加入环球富盛理财有限公司。环球富盛理财有限公司是一家香港的持牌券商机构，成立于2014年。 该分析师曾在wind发布报告超过700篇，覆盖美股和港股AI、半导体、软件、科技行业标的如下：Snowflake、CrowdStrike、汇聚科技、伟仕佳杰、晶门半导体、珩湾科技、优矩控股、万咖壹联、卓越睿新、中国软件国际、百望股份、百富环球、赛晶科技、有赞、汇通达网络、博雅互动、IGG、网龙、极视角、华沿机器人等。 微信：zhuangcharles邮箱：charles.zhuang@gpf.com.hk电话：(852) 97487114; (86) 18801353537 The Benchmark: Hong Kong Hang Seng IndexTime Horizon: 6 to 18 months SECTOR RATING DEFINITIONThe Benchmark: Hong Kong Hang Seng Index Time Horizon: 6 to 18 months DISCLOSURE OF INTERESTS (1) The Analysts and their associates do not serve as an officer of the issuer mentioned in this Research Report. (2) The Analysts and their associates do not have any financial interests in relation to the issuer mentioned in this Research Report. (3) Global Prosperity Financial Company Limited and/or its subsidiaries do not hold equal to or more than 1% of the market capitalization ofthe issuer mentioned in this Research Report. (4)Global Prosperity Financial Company Limitedand/or its subsidiaries have not had investment banking relationships with the issuermentioned in this Research Report within the preceding 12 months. (5) Global Prosperity Financial Company Limitedand/or its subsidiaries are not making a market in the securities in respect of the issuermentioned in this Research Report. (6) Global Prosperity Financial Company Limitedand/or its subsidiaries have not employed an individual serving as an officerof the issuermentioned in this Research Report. There is no officer of the issuer mentioned in this Research Report associated withGlobal ProsperityFinancial Company Limitedand/or its subsidiaries. DISCLAIMER This Research Report does not constitute an invitation or offer to acquire, purchase or subscribe for securities by Global Prosperity FinancialCompany Limited. Global Prosperity Financial Company Limited and its group companies may do business that relates to companies coveredin research reports, including investment banking, investment services, etc. (for example, the placing agent, lead manager, sponsor,underwriter or invest proprietarily). Any opinions expressed in this report may differ or be contrary to opinions or investment strategies expressed orally or in written form by salespersons, dealers and other professional executives of Global Prosperity Financial Company Limitedgroup of companies. Any opinionsexpressed in this report may differ or be contrary to opinions or investment decisions made by the asset management and investment bankinggroups ofGlobal Prosperity Financial Company Limited. Though best effort has been made to ensure the accuracy of the information and data contained in this Research Report,Global ProsperityFinancial Company Limited does not guarantee the accuracy and completeness of the information and data herein. This ResearchReportmay contain some forward-lookingestimates and forecasts derived from the assumptions of the future political and economic conditions withinherently unpredictable and mutable situation, so uncertainty may contain. Investors should understandand comprehend the investmentobjectives and its related risks, and where necessary consult their own financial advisers prior to any investment decision. This Research Report is not directed at, or intended for distribution to or use by, any person or entity who is a citizen orresident of or locatedin any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which wouldsubjectGlobal Prosperity Financial Company Limitedand its group companies to any registration or licensing requirement within suchjurisdiction.