[ET Net News Agency, 9 June 2021] Morgan Stanley initiated coverage on Ming Yuan Cloud
Group Holdings (MYC) (00909) with an "overweight" rating and a target price of HK$45.
The research house said MYC sets the standard for best-of-breed vertical software
vendors in China. With its deepening moat via industry expertise, expanding product matrix
to address evolving demand, embrace of next-generation technology, and business model
upgrade to subscription - all while delivering industry-leading revenue growth and
profitability - MYC is a textbook case for the vertical software model in China.
Morgan expects software penetration to rise 3x in the property developer market (from
0.1% of total property sales in 2019 to 0.3% in 2024), and it believes that MYC is
well-positioned to capture a big part of the business.
Morgan expects MYC to grow its top line at a 37% CAGR, 2020-23, driven by a 17% CAGR in
its mature ERP business and a 53% CAGR in its emerging SaaS business. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00909 MING YUAN CLOUD
Nominal 
1.980 -0.160 (-7.477%) Others
09/06/2021 13:57
{I-bank focus}Morgan starts Ming Yuan Cloud (00909) at HK$45
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