Kingdee International (00268) rose more than 7%. As of press release, it was up 7.55% to HK$8.12, with a turnover of HK$167 million.
The Zhitong Finance App learned that Kingdee International (00268) rose by more than 7%. As of press release, it had risen 7.55% to HK$8.12, with a turnover of HK$167 million.
According to the news, Kingdee International recently announced that as of March 31, 2024, the annual recurring revenue (ARR) of the Kingdee Cloud subscription service was approximately RMB 2.98 billion, an increase of about 28% over the previous year; Kingdee Cloud · Sky · Starry Sky, Kingdee Cloud Stars, and Kingdee Jingdou Cloud achieved net renewal rates (NDR) of about 97%, 95%, 91%, and 87% respectively. During the period, the group signed contracts with well-known companies such as China National Petroleum Group, Longhu Group, Huazhen Testing, Lingnan Group, Minglida, and Dimai Biotech.
Haitong Securities previously stated that according to the company's 2023 performance briefing guidelines, the company will adhere to the “subscription first, AI first” strategy and aim to achieve 15-20% CAGR of revenue from 2024-2026, and achieve 30% CAGR of subscription ARR, demonstrating the company's confidence in development. The bank believes that under the general trend of digitalization and intelligent development, the company will continue to consolidate product capabilities and provide innovative applications to improve service quality, and the advantages of the cloud subscription model will gradually become prominent. In this context, the bank believes that the company can achieve its business goals in 2024-2026.