Core Viewpoint - Kingdee International is expected to achieve a revenue of 6.667 to 7.215 billion yuan for the year, representing a year-on-year growth of 6.6% to 15.3%, and a net profit forecast of 0.28 to 2.01 billion yuan, indicating a significant increase of 119.7% to 241.8% [1][3] Revenue and Profit Forecast - The forecasted revenue range is 6.667 to 7.215 billion yuan, with a year-on-year growth of 6.6% to 15.3% [1][3] - The predicted net profit is between 0.28 and 2.01 billion yuan, showing a year-on-year increase of 119.7% to 241.8% [1][3] - Adjusted net profit is expected to be between 0.28 and 1.57 billion yuan [1][3] Subscription and Market Performance - Kingdee's subscription ARR reached 3.86 billion yuan, with a net addition of 130 million yuan, indicating stable incremental growth [5][6] - The NDR performance for various products is as follows: Cangqiong & Xinghan at 105%, Xingkong at 95%, Xingchen at 93%, and Jingdouyun at 88%, showing stable performance [5][6] - The company is expanding internationally, having signed a cooperation agreement with Malaysia's revitalization group, which is expected to increase overseas revenue contribution to 5% to 10% [5][6] Market Position and Growth - Kingdee maintains a leading position in the low-code and no-code software market, with a market share of 15.7%, ranking first in China for five consecutive years [5][6] - The market size for low-code solutions is projected to grow by 20.2% year-on-year in the second half of 2024, potentially exceeding 12.98 billion yuan by 2029 [5][6] - In the first half of 2025, Kingdee achieved a revenue of 3.192 billion yuan, reflecting a year-on-year growth of 11.24%, with a significant reduction in net loss by approximately 55.1% [5][6]

Group 1 - Kingdee International (00268.HK) reported a mid-year revenue increase of approximately 11.2% to about RMB 3.193 billion for the six months ending June 30, 2025 [1] - The company's loss attributable to equity holders decreased by approximately 55.1% to about RMB 97.738 million, compared to a loss of approximately RMB 218 million in the same period of 2024 [1] - Kingdee's basic loss per share attributable to equity holders was approximately RMB 0.0278, down from RMB 0.0612 in 2024 [1] Group 2 - Kingdee has been recognized as a leading global enterprise management cloud SaaS company, ranking first in multiple segments in the Chinese market according to IDC's latest report [1] - The company is the first and only Chinese vendor included in Gartner's "Discrete Manufacturing PLM Software Market Guide" and ranks first in the high productivity aPaaS sector in China [2] - Kingdee was also listed in Gartner's top 10 for Generative AI models in the Chinese market and received the first prize in the "Wu Wenjun Artificial Intelligence Science and Technology Award," highlighting its excellence in AI technology innovation [2] Group 3 - Yum China (09987.HK) reported a mid-year operating profit increase of 10% to USD 703 million [1] - Master Kong Holdings (00322.HK) saw a 20.5% increase in net profit attributable to shareholders for the first half of the year, reaching RMB 2.271 billion [1] - Sany International (00631.HK) expects a mid-year net profit increase of 25% to 35% [1]