HK Stock Market Move | MarketingForce (02556) rose over 11% in the afternoon, with SaaS revenue increasing by 30% in the first half of the year. Next week, the company will face the first release of its shares.

MARKETINGFORCE (02556) rose by over 11% in the afternoon and was up 8.25% at the time of publication, trading at HK$114.2, with a turnover of HK$371.92 million. It is reported that MARKETINGFORCE is the largest provider of marketing and sales Software as a Service (SaaS) solutions in China, with a market share of 3.0% in 2023. In the first half of this year, the company achieved revenue of 739 million yuan, a year-on-year increase of 26.7%, with SaaS revenue reaching 4.0 billion yuan, a year-on-year increase of 30.4%; shareholders' net loss was 820 million yuan, a year-on-year increase of 1,112.0%. Minsheng Securities believes that with the continued release of top-level policies and the macroeconomic recovery, SaaS companies are expected to see a turnaround in performance and a rise in valuation levels. It is worth noting that MARKETINGFORCE will face its first unlocking on November 16th. According to relevant statistics, MARKETINGFORCE will have over 100 million shares unlocked, accounting for 48.13% of the total share capital.