HK Stock Market Move | KINGDEE INT'L (00268) increased by over 7%, the performance of the main products NDR in the first quarter was stable, and the company's AI orders rapidly increased.

KINGDEE INT'L (00268) jumped more than 7%, rising 7.2% to HK$9.08 at the time of writing, with a turnover of HK$143 million. On the news front, GF SEC released a research report pointing out that according to the voluntary announcement disclosed by the company on the evening of April 13, the company achieved annual recurring revenue of approximately RMB 4.22 billion in the first quarter of 2026, a year-on-year increase of about 19%. The company's main products in the first quarter of 2026, NDR, performed well, with renewal rates of 103%, 96%, and 94% for Xinghan, Xingkong, and Xingchen, respectively. Compared to the same period in 2025, the renewal rates of Xinghan, Xingkong, and Xingchen in the first quarter of 2025 were 108%, 94%, and 92%, respectively. The high renewal rate is an important indicator of the healthy development of cloud services, reflecting the comprehensive competitiveness of the company's cloud products. The high renewal rate also lays the foundation for the company's future expense ratio, especially the sales expense ratio, to continue to decline. GF SEC further pointed out that in terms of profitability, combined with the continued strong performance on the revenue side and further increase in ARR ratio, coupled with the continued manifestation of cost reduction and efficiency improvement results in personnel in 2025, the bank expects a substantial improvement in profitability on a year-on-year basis in the first quarter of 2026. During the first quarter of 2026, the company's AI native product (Kingdee AI Suite) signed contracts amounting to RMB 2.3 billion, compared to the full-year AI contract signing orders of RMB 3.56 billion in 2025. The bank is optimistic about the trend of the company's AI contract volume in 2026.