星展发布研报称，金蝶国际(00268)上半年收入同比增长11.2%，符合预期。根据管理层的指引，该行有 信心其可于全年录得盈利。该行表示，随着经济持续复苏，人工智能应用的采用将促进云端业务的增 长，维持公司"买入"评级，目标价由19.2港元上调至21.7港元。 ...

星展发表研究报告指，金蝶国际上半年整体业绩略低于市场预期，收入按年增长11.2%，符合预期；净 亏损收窄至9800万元。根据管理层的指引，该行有信心其可于全年录得盈利。然而，公司必须在下半年 录得盈利2.61亿元，才能达到该行之前预测的全年盈利1.63亿元，而这似乎极具挑战。 该行下调金蝶国际2025及26财年的盈测17%和3%，分别至1.35亿及2.43亿元，以反映上半年盈利能力较 低及人工智能研发开支可能上升。该行表示，随着经济持续复苏，人工智能应用的采用将促进云端业务 的增长，维持对金蝶国际"买入"评级，目标价由19.2港元上调至21.7港元。 ...

金十数据5月16日讯，花旗发表研究报告指，阿里(09988.HK)2025财年第四季客户管理收入(CMR)按年 增长12%，淘天集团的EBITA增长8%，胜于预期；但云端收入按年增长18%及云端利润率增长8%，虽 然与该行预测一致，但逊于市场预期。该行维持对阿里H股及美股目标价165港元及169美元，续予"买 入"评级，并认为集团是中国人工智能及宏观经济反弹的代表。 花旗续予阿里目标价165港元 料云端业务收入续稳健增长 ...

Core Viewpoint - The target prices for various Chinese assets have been raised by multiple financial institutions, indicating a positive outlook for the Chinese market despite recent declines in global markets [1][2][3]. Group 1: Target Price Adjustments - Daiwa Securities raised Alibaba's target price from HKD 165 to HKD 175, citing higher capital expenditure and expected growth in cloud revenue [2]. - Daiwa also increased JD Group's target price from HKD 204 to HKD 216, reflecting strong revenue momentum driven by JD Retail [3]. - HSBC raised Xiaomi's target price by 31.5%, from HKD 49.9 to HKD 65.6, anticipating strong sales for the SU7 Ultra model [3]. - Citi upgraded the target prices for AAC Technologies and Sunny Optical, with AAC's target price raised from HKD 46 to HKD 53.1 and Sunny's from HKD 77 to HKD 102 [4]. - Credit Lyonnais increased JD Health's target price from HKD 40 to HKD 45, based on expected revenue growth [5]. - Goldman Sachs raised target prices for several securities firms, including CICC from HKD 14.68 to HKD 16.47, CITIC Securities from HKD 18.34 to HKD 20.68, and GF Securities from HKD 9.93 to HKD 11.18 [5]. Group 2: Market Outlook - Robeco's China investment head noted that China's market valuation remains low compared to historical data and emerging markets, maintaining a positive outlook for Chinese stocks [6]. - UBS's analyst expects a 6% growth in earnings per share for the constituents of the CSI 300 index this year, with potential for higher gains if the A-share market continues to rise [6]. - The anticipated net inflows into the A-share market from various funds are projected to be significant, with insurance funds expected to contribute CNY 1 trillion [7]. - The performance of Chinese tech giants has been strong, with a market value increase of USD 439 billion this year, contrasting with declines in major US tech stocks [7]. - The government’s focus on capital market stability and the implementation of policies to enhance the investment environment are expected to support a gradual improvement in the domestic economy [8].