Gelonghui, January 8 | CMB International released a report saying that Kingdee International's total revenue in 2023 is 5.65 billion yuan to 5.7 billion yuan, up 16.2% to 17.2% year-on-year, slightly lower than the market forecast of 5.8 billion yuan. The bank believes this is due to adverse macroeconomic factors; the loss forecast is 170 million to 250 million yuan, better than the market forecast of 259 million yuan, which the bank believes is due to efficient cost control. According to the bank, although in the current macro context, demand recovery is expected to take time, digitalization and domestic substitution are still an important long-term trend, and Kingdee is ready to benefit from related trends. Compared to its peers, Kingdee earns more revenue from subscription services, so this year's revenue growth is likely to be more visible. The bank lowered the target price from HK$17 to HK$15.1, with a “buy” rating.
大行评级｜招银国际：下调金蝶国际目标价至15.1港元 评级“买入”
Major Bank Rating | CMB International: Lowering Kingdee International's Target Price to HK$15.1 Rating “Buy”
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