Guangfa Securities: Maintain a buy rating on Kingdee International (00268.HK) with a target price of 45.8 Hong Kong dollars.

"Choicest Finance APP has learned that Guotai Junan Securities released a research report stating that Kingdee International (00268.HK) focuses on subscription priority and AI priority. As a leading domestic ERP company, Kingdee's product strength is expected to further enhance with the help of AI. The revenue forecast for 2025-2027 is maintained at 6.9/7.7/8.5 billion yuan. The "buy" rating is maintained. On November 4, 2025, at the Kingdee 2025 Global Innovators Conference, Kingdee Cloud was officially upgraded to "Kingdee AI" and launched a new AI product "Little K," marking the official entry of enterprise management into the AI native era."