Group 1 - The core viewpoint of the report is that 招银国际 maintains its revenue forecast for 金蝶国际 (00268) for the years 2025 to 2027 and sets a target price of HKD 19.2, based on an expected enterprise value/sales ratio of 8.4 times for 2025, which is slightly adjusted from the previous 8.5 times [1] - 金蝶国际's revenue for the first half of this year reached RMB 3.19 billion, reflecting a year-on-year growth of 11.2%, which aligns with 招银国际's predictions and market consensus [1] - 招银国际 remains optimistic about 金蝶国际 as a key beneficiary in the era of artificial intelligence applications, citing factors such as the monetization of AI, recovery in revenue growth, macroeconomic recovery, and increased demand for digitalization as critical drivers for its stock price [1]
招银国际：对金蝶国际(00268)保持乐观 维持“买入”评级 目标价19.2港元