[Brokerage Focus] CICC cuts Kingsoft Software (03888) with a target price of 18% to HK $63, indicating that the valuation center of the software sector has declined

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[Brokerage Focus] CICC cuts Kingsoft Software (03888) with a target price of 18% to HK $63, indicating that the valuation center of the software sector has declined

凤凰网港股2021-08-04

Ifeng.com's Hong Kong Stock CICC Research Report pointed out that the bank expects the second quarter of this yearKingsoftRevenue increased by 2.3% year-on-year to 1.45 billion yuan, and the operating profit margin is expected to be 16.8%, a month-on-month decrease of 16 percentage points, mainly due to increased R&D investment.

CICC maintained the company's revenue and profit forecast for this year and next unchanged, and maintained the stock's outperform rating. Considering the downward trend in the valuation center of the software sector of the Hong Kong stock market, CICC adjusted the valuation method of the office business from the target market value method to the market value method. Based on the 2021 segment valuation method, the target price of the stock was lowered by 18% to HK $63.

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·2021-08-05
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