HK Stock Market Move | KINGDEE INT'L(00268) rose nearly 7% in early trading, and there are expectations for significant acceleration in profit growth at Xinchuang Development, according to analysts.

KINGDEE INT'L (00268) rose nearly 7% in the morning session, and as of the time of writing, it has risen 5.33% to 5.73 Hong Kong dollars, with a turnover of 93.8724 million Hong Kong dollars. On the news front, Shenzhen recently released the "Implementation Opinions on Supporting the High-Quality Development of Digital Finance in Shenzhen (Draft for Comments)", proposing to promote the construction of the financial support innovation base in Shenzhen. CMSC pointed out that the work of the financial innovation base is continuously advancing, and the funding issue may be improving. The new round of financial innovation industry promotion may be larger and more sustainable compared to 2019. It is worth noting that in the first half of the year, KINGDEE INT'L continued to promote cloud transformation, with cloud service business achieving a year-on-year growth of 17.2% to 2.39 billion yuan, accounting for approximately 83.2% of the group's revenue. During the reporting period, Kingdee made significant progress in central state-owned enterprises, state-owned enterprises, and Fortune 500 companies, successfully signing contracts and winning bids from many industry-leading enterprises. China Securities Co., Ltd. stated that as a leader in cloud transformation in the domestic industry, KINGDEE INT'L has accumulated strength and achieved a cloud revenue share surpassing 80%, with profit release on the horizon.