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Steady rev growth with on-track loss reduction

M N 20 Mar 2024 CMB International Global Markets | Equity Research | Company Update Kingdee (268 HK) Steady rev growth with on-track loss reduction Target Price HK$15.50 Kingdee reported 2023 financial results: revenue was RMB5.7bn, up 17% YoY (Previous TP HK$15.10) (2022: 17% YoY), and net loss attributable to ordinary shareholders was Up/Downside 66.3% RMB210mn (2022: loss of RMB389mn), both in line with our estimate and Current Price HK$9.32 Bloomberg consensus. Kingdee’s loss reduction effort was on tra ...