China Software_ Desay SV_ Venustech_ iSoftstone_ Automotive software outperform, while limited visibility on security IT spending
Audi·2024-11-18 03:33
15 November 2024 | 11:54PM HKT China Software: Desay SV/ Venustech/ iSoftstone: Automotive software outperform, while limited visibility on security IT spending In this report, we review 3Q earnings and preview 4Q of China Software names Desay SV/ Venustech/ iSoftstone. Overall, we see solid spending on automotive software for AD/ ADAS spec upgrade, while weak security spending amid the challenging macro. Desay SV 3Q OP beat on larger business scale (rev +27% YoY), and we expect 4Q24 strong growth at 38% Yo ...