Core Viewpoint - The report from Citi indicates that Kingdee International (00268) achieved revenue in the first half of the year that met market expectations, primarily driven by growth in cloud subscription revenue [1] Revenue Performance - Kingdee's revenue growth was significantly supported by an increase in cloud subscription income, reflecting a stable development of its subscription model [1] - The related subscription liabilities also showed robust growth, indicating a healthy demand for its services [1] Profitability - The gross margin improved due to enhancements in the business structure, contributing positively to overall financial performance [1] Target Price Adjustment - Citi raised the target price for Kingdee from HKD 15.4 to HKD 17.6, maintaining an "outperform" rating [1]
里昂：金蝶国际云订阅业务推动收入增长 目标价升至17.6港元