Citi: Maintains Kingdee International (00268.HK) "Buy" rating, target price HK$11.9; Q3 net new ARR up 46.9% year-on-year.

Zhito Finance APP has learned that Citi issued a research report maintaining a "Buy" rating on Kingdee International (00268.HK) with a target price of HK$11.9. The company's "AI-first, subscription-first, and globalization" strategy continues to advance. In the third quarter, subscription annual recurring revenue (ARR) increased approximately 19.3% year-on-year to RMB 4.604 billion, while net new ARR grew 46.9% year-on-year to RMB 191 million, mainly driven by strong demand for Kingdee's AI suite and Lingji.