On August 19th, Gelunhui reported that according to the report released by CICC, the revenue of Kingdee Int'l in the first half of the year increased by 11.9% year-on-year, and the loss narrowed to 0.218 billion yuan, roughly in line with expectations. It maintains that the company's profits forecast in the next two years remain unchanged. Due to Kingdee's growth resilience and better cash flow compared with its peers, it maintains its "outperform industry" rating. However, considering the decline in industry valuation, the company's target price has been lowered by 15% to HKD 8.5.