Shanghai Securities first gave Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) buy rating depth report: excellent fundamentals, continued to benefit from the general trend of meta universe, and has the potential to be upgraded to a platform company

Shanghai securities issued a research report on March 10, saying that it gave Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) ( Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) .sh, latest price: 21.1 yuan) a buy rating for the first time. The reasons for rating mainly include: 1) the company is the leader in the field of g-end exhibition hall design; 2) The demand for digital space construction will increase significantly in the next three years, and the performance of the company’s main business is highly uncertain; 3) The company tries to iterate the business model and explore the possibility of upgrading to a platform company. Risk tips: the development of yuanuniverse industry is less than expected, the strength of policy support is less than expected, the intensity of industry competition is intensified, the new orders signed by the company are less than expected, the company’s payment collection is less than expected, and there are more than expected bad debt losses.