[ET Net News Agency, 14 January 2021] UBS Global Research initiated coverage of Weimob
(02013) with a "buy" rating and a price target of HK$22.
The research house said Weimob is a leading SMB SaaS vendor (ie, a seller of Software as
a Service to small and medium businesses) and advertising agency in China that leverages
the online social media ecosystem.
UBS likes Weimob's frontrunner position in the accelerating SaaS industry and is
confident that it will benefit from accelerating merchant digitisation. With more
merchants turning to WeChat's Mini Programs for cheaper "private domain" traffic, the
company's growth outlook is more visible.
Weimob is trading at 11x 2021 P/Sales, a discount to its peers. UBS thinks investors are
cautious about its business model as the SaaS business is at the investment stage. (KL)
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02013 WEIMOB INC
Nominal 
1.330 -0.040 (-2.920%) Research Report
14/01/2021 17:14
{I-bank focus}UBS starts Weimob (02013) at "buy" and HK$22
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