Bank of America Securities Affirms 'Buy' on Kingdee International, Citing Sustained Profitability Improvement

Stock News07-08

Bank of America Securities has issued a research report reiterating its "Buy" rating on KINGDEE INT'L (00268) and maintaining its target price of HK$13.9.

The firm's positive stance follows Kingdee's release of a positive profit alert for the first half of this year. The company anticipates revenue to grow by approximately 13% to 14% year-on-year, reaching between RMB 3.61 billion and RMB 3.64 billion, which aligns with both market expectations and the bank's own forecasts.

Analysts note that this projected revenue growth represents an acceleration from the 12% seen in fiscal year 2025. The primary drivers behind this improvement are identified as the rapid expansion of subscription-based revenue and robust demand for the company's native AI products.

Regarding profitability, Kingdee expects its net profit for the first half to be in the range of RMB 40 million to RMB 60 million. On an adjusted non-IFRS basis, net profit is forecasted to be between RMB 105 million and RMB 125 million.

Bank of America Securities estimates that the company's interim gross margin will improve by approximately 2 percentage points year-on-year. This enhancement is attributed to the increasing proportion of subscription revenue and the operational efficiency gains driven by the adoption of AI technologies.

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