On November 20, Glory Financial reported that DBS believes the confidence of mainland companies in ERP (Enterprise Resource Planning) spending has improved, raising the target price for Kingdee Int'l (0268.HK) from HKD 10.4 to HKD 12.4 and reiterating a "buy" rating. The report indicates that a series of stimulus policies in China have further boosted companies' confidence in ERP spending, and Kingdee is the second largest ERP software supplier in China with a strong market position, expected to benefit from this. The company stands to gain from its competitive cloud products and new AI features, and is likely to continue outperforming in the industry. DBS has raised revenue forecasts for Kingdee for 2025 and 2026 by 3% and 6% respectively, which is 3% and 6% higher than the market's consensus expectations, anticipating a return to an annual growth rate of 20%. It is expected to turn a loss into a profit in 2025, earning RMB 0.234 billion, which is expected to help boost stock performance; the latest target price of HKD 12.4 is based on a 5 times P/S valuation for 2025.