Lates News

Lyon released a research report stating that Kingdee International's revenue in the first half of the year met market expectations, mainly driven by the growth of cloud subscription revenue. Although the annual recurring revenue (ARR) of cloud subscription services is slightly lower than market expectations, the growth of subscription-related liabilities is steady, showing that its subscription model is developing steadily. The gross profit margin has also increased due to improvements in business structure. Lyon raised Kingdee's target price from HK$15.4 to HK$17.6, maintaining an "outperform" rating; revenue forecasts for 2025 to 2027 have been lowered by 1.3%, 3.2%, and 5.2%, while net profit margin forecasts remain basically unchanged.