Group 1 - The core viewpoint of the report is that the revenue forecast for Kingdee International (00268.HK) for 2025 to 2027 remains unchanged, with a target price of HKD 19.2, based on an expected enterprise value/sales ratio of 8.4 times for 2025, which aligns with the two-year average plus two standard deviations, maintaining a "Buy" rating [1][2] - In the past 90 days, six investment banks have issued "Buy" ratings for Kingdee International, with an average target price of HKD 18.14 [1] - The market capitalization of Kingdee International is HKD 56.792 billion, ranking third in the computer application industry [1][2] Group 2 - Key financial metrics for Kingdee International include a Return on Equity (ROE) of -0.29%, a net profit margin of -3.42%, and a gross profit margin of 65.63%, which is significantly higher than the industry average [2] - The operating revenue for Kingdee International is HKD 65.78 billion, surpassing the industry average of HKD 44.25 billion [2] - The debt ratio for Kingdee International stands at 40.33%, which is lower than the industry average of 42.59% [2]
招银国际：对金蝶国际(00268.HK)保持乐观 维持“买入”评级 目标价19.2港元