金蝶國際 (268.HK): 雲端業務增長遜預期,第二代雲產品添動力 September 11, 2018

投資概要

集團傳統ERP 業務增長勝於預期,主要受惠金蝶EAS 增速強勁;惟雲端業務增速卻 遜於預期,收入只錄得25.6%增長。但集團在8 月8 日正式推出新一代產品——金蝶 雲‧蒼穹,為集團首個PaaS 平台軟件,相信長遠會為雲業務帶來理想的增長。然而, 受累於人民幣貶值,我們給予目標價8.74 港元,較此前目標價下降2.2%,給予“中性” 評級。(現價截至9 月7 日)

About the author

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Terry Li
Investment Analyst

Graduated from Lingnan University, with Master of Science in International Banking and Finance and Bachelor of Business Administration respectively. Specializes in analyzing company fundamentals and valuation to explore investment opportunities in TMT, Education and Financial industry.

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