The Zhitong Finance App learned that Kingdee International (00268) rose more than 3% after the results. As of press release, it had risen 3.07% to HK$9.39, with a turnover of HK$76,028,800.
According to the news, Kingdee International announced its 2023 annual results. During the reporting period, Kingdee achieved revenue of approximately RMB 5.679 billion, an increase of about 16.7% over the previous year. According to the report, Kingdee Cloud and Starry Sky achieved cloud service revenue of about RMB 1,952 billion, an increase of about 16.2% over the previous year. The ARR subscription to Kingdee Cloud and Starry Sky Cloud increased by about 29.2% year over year, the net renewal rate was 97.2%, and the number of customers was about 39,000.
Guojin Securities previously pointed out that in recent years, the trend of credit innovation for central government enterprises has been evident, and it is expected that the proportion of localizing management systems will continue to increase. Considering factors such as the smaller size of domestic related companies, higher revenue growth expectations, and the possibility of further increase in market share, there is still plenty of room for appreciation in the medium to long term. The bank pointed out that Kingdee International's 23-year performance growth rate exceeded the industry average. The SaaS model showed resilience under pressure. Renewal rates for products such as Sky, Starry Sky, Stars, and Jingdu remained high, and the AIB side was actively deployed.