TC

22/10/2019 11:24

{I-bank focus}Jefferies cuts Kingdee Int'l to HK$11.3

[ET Net News Agency, 22 October 2019] Jefferies Research lowered its target price for
Kingdee International Software (00268) to HK$11.3 from HK$12.1 and maintained its "buy"
rating.
The research house attended Kingdee Cloud User Conference in Beijing on 20 October. It
noted that a total of 3,000+ enterprise representatives and 60 investors presented at the
event on Sunday.
Jefferies' key takeaways are (1) Cosmic 2.0 version launched, based on bi-weekly update
in the past one year, with major improvements on its APaaS (Application Platform as a
Service) and new offerings like PLM (Product Lifecycle Management), Marketing. (2) Huawei
CIO endorsed Kingdee Cloud at the event, with more collaborations coming. (3) KIS Cloud
and EAS (Enterprise Applications Services) Cloud to accelerate on-premise migration.
Management saw better-than-expected conversion for KIS Cloud already but noted 2019-20
earnings under pressure due to the cannibalization. Jefferies trimmed its FY2019/20
revenue by 2.4% /5.4% and earnings by 12.5%/35.7% to reflect on-premise ERP (Enterprise
Resource Planning) cannibalized by Cloud and increasing investment on Cosmic. It raised
Cloud revenue CAGR in FY2019-21 from 54% to 58%. (KL)

etnet財經‧生活App   財智‧健康‧品味生活     【立即下載】  iOS版 / Android版
人氣文章
財經新聞
評論
專題
產品簡介

【etnet Bonus賞你】好好社企 中秋精選月餅禮盒

【etnet Bonus賞你】領展TKO Gateway便攜式香薰機

【etnet Bonus賞你】荃灣千色匯及元朗千色匯 x 韓國紙雕插畫藝術家Soo Min Kim 消暑手搖沙冰杯+簡約家用收納箱