Group 1 - Goldman Sachs reports that Kingdee International (00268) is expected to achieve a year-on-year revenue growth of 13% to 3.2 billion RMB in the first half of the year, driven by improved spending from large enterprise clients [1] - The firm believes that productivity improvements will lead to enhanced profitability and maintains a "Buy" rating for Kingdee [1] - Goldman Sachs has raised its earnings forecasts for Kingdee International for 2026 and 2027 by approximately 1% to reflect growth in cloud service revenue from large enterprises and a slight decrease in operating expense ratio, while keeping the current year's forecast unchanged [1] Group 2 - The target price for Kingdee has been increased from 17.81 HKD to 18.87 HKD [1] - Goldman Sachs anticipates that the nine software companies it covers will see quarter-on-quarter revenue growth in the second quarter, primarily due to a rebound in customer order momentum [1] - However, certain sectors, such as construction, are still facing short-term pressure on IT spending [1] - The firm expects that profitability growth for software companies may improve in the second half of the year due to enhanced operational efficiency and workforce optimization [1]
高盛：升金蝶国际目标价至18.87港元 评级“买入”