Glonghui, July 17 | Bank of America Securities published a research report, according to which Bank of America Securities announced this year's interim results in mid-August. It is estimated that an 18% year-on-year increase in the company's cloud business could offset a 7% year-on-year decline in enterprise resource management (ERP) business revenue, and a 13% year-on-year increase in revenue to 2.89 billion yuan in the first half of the year. The bank is expected to reduce losses by 16% to 0.237 billion yuan on an annual basis due to strict cost control, and believes that the company's revenue growth in the second half of the year is expected to accelerate due to the completion of large-scale projects. Bank of America Securities lowered the target price of Kingdee International from HK$14 to HK$11.4, reaffirming the “buy” rating. The bank also lowered the company's profit estimate from 2024 to 2026 by 3 to 4%. It is expected that this year's loss will expand to 52 million yuan, and also lowered the net profit forecast for 2025 and 2026 by 3% to 4%, and the profit forecast per share for 2026 from 0.13 yuan to 0.12 yuan.