[ET Net News Agency, 15 August 2019] Citi Research lifted its target price for Kingdee
International Software (00268) to HK$9 from HK$8 and upgraded its rating to "buy" from
"neutral".
The research house turned more confident on Kingdee's cloud ERP outlook after its 1H
results and management comments during the results meeting on ERP.
Citi noted that Kingdee's cloud revenue climbed 55% to Rmb550mn, and accounted for 37%
of revenue (1H 2018: 28%). Gross margin dropped 0.7ppt to 79.5%, and selling & marketing
expenses grew 18% to account for 51.4% of revenue.
Citi largely maintained its earnings estimates for FY2019 but raised FY2020-21 earnings
by 2.6-3%. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00268 KINGDEE INT'L
Nominal 
8.280 +0.410 (+5.210%) Others
15/08/2019 15:45
{I-bank focus}Citi upgrades Kingdee Int'l (00268) to HK$9
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