Kingdee Intl Software 0268

Kingdee Intl Software 0268

Postby winston » Thu Jan 14, 2010 3:27 pm

Not vested. From UOBKH:-

Valuation/Recommendation

The whole IT sector including software has been outperforming the market given favourable government policies and promising growth outlook.

We believe Kingdee is one of the few Hong Kong-listed quality Chinese software plays. We set our new target price at HK$2.56 (27x 2010F PE or 30% discount to the average of its A-share listed peers, up from 20x). A higher target PE is used given the re-rating of the IT sector in China.

Our target PE is close to mid-peak cycle valuation which, we think, is justified given scarcity value and growth acceleration starting this year. As discussed earlier, the total value of Kingdee’s two office buildings and one piece of land is about Rmb1,116m, which looks conservative as there is a change in accounting
policy. Maintain BUY.
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Re: Kingdee Intl 0268

Postby winston » Wed Mar 03, 2010 4:37 pm

Does anybody use their software ? Any good ?


INTERVIEW-China's Kingdee aims to be top Asian software firm

SINGAPORE, March 3 (Reuters) - Chinese software maker Kingdee International Software Group <0268.HK> aims to grow revenue five-fold in the next four years and become Asia's biggest software firm, its chief executive said on Wednesday.

That would mean the company, which has a market capitalisation of around $570 million, taking market share from global giants like SAP and Oracle Corp in the enterprise software market.

"We hope by the year 2013 Kingdee will have revenue of 5 billion yuan ($732.5 million) and... overseas clients can contribute more than 10 percent of this," Robert Xu, chairman and chief executive of the company told Reuters in an interview through an interpreter.

Analysts polled by ThomsonReuters I/B/E/S expect Kingdee to post 180 million yuan net profit in 2009 from revenue of 976 million yuan.

Xu said currently about 5 percent of the firm's revenue comes from overseas customers.

Source: Dow Jones Newswire
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Re: Kingdee Intl Software 0268

Postby winston » Wed Mar 10, 2010 1:52 pm

Not vested. From Phillips:-

Risks

Up risk:

1. ERP market rise beyond the expectation.
2. The Youshang.com and E-government business develop better.
3. Integration of acquisition performs well.

Down risk:

1. Human resources cost brings much more press.
2. ERP market share adding fails to expectation.


Entering into a new stage of transition, with up room for its valuation


In 2009, Kingdee began its second changing in business to restart its high speed development. According to the management, it plans to accomplish this target with three transitions.

First, it will speed acquisition to integrate more software companies and sales channels in this sector. Second, it will change itself into service oriented model from production guided one, accordingly, to supply management design from products. And third, it will expand its oversea market, first in Asia, to output the successful Chinese management model.

Overall speaking, we think Kingdee has entered into a new stage of transition and its EPS is expected to get RMB0.111 and RMB0.145 in FY2010 and FY2011. Meanwhile, outlook certainty of its high growth will expand its up room of valuation, we give it Buy rating and 12-month TP of HK3.20.
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Re: Kingdee Intl Software 0268

Postby winston » Thu Mar 11, 2010 9:14 pm

Not vested.

DJ MARKET TALK: Taifook Keeps Kingdee At Buy; Targets HK$2.76

1604 [Dow Jones] STOCK CALL: Taifook says propelled by positive new inflows, including announcement of acquisition of top product lifecycle management software developer in China, shares of Kingdee (0268.HK) have jumped sharply recently (+15.3% month-to-date). But notes, counter currently trades at undemanding valuation of 18.3X FY10 P/E.

"The company's ambition goes beyond the domestic enterprise software market. Kingdee is on the prowl for suitable M&A opportunities in all regions of Asia, including a long-anticipated major acquisition with a deal size in the neighbourhood of CNY100 million." Keeps at Buy, targets HK$2.76, based on 21X FY10 P/E, well within its historical trading range of 6X-31X. Stock down 0.4% at HK$2.40.

Source: Dow Jones Newswire
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Re: Kingdee Intl Software 0268

Postby winston » Fri Mar 26, 2010 6:46 am

Software firm Kingdee gets with program fueling 17pc earnings rise

Kingdee International Software (0268) said 2009 net profit rose 17 percent year-on-year to 212.5 million yuan (HK$241.55 million) as income from services and sales of enterprise application products surged.

A final dividend of 2.2 HK cents per share was proposed. The company plans to expand into different industries. It sees faster profit and turnover growth over the next five years.

"Our compound annual growth rate between 2001 to 2009 was 22.1 percent in turnover and 28.6 percent in net profit, and we hope to further speed up these this year," said chairman and chief executive officer Xu Shaochun.

The company started a medical and hospital management application software program in cooperation with IBM this month, to provide one-stop resource management solutions for public hospitals.

Xu said Kingdee plans to acquire property developer Jama and manufacturer Pro Way this year.

http://www.thestandard.com.hk/news_deta ... 00326&fc=8
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Re: Kingdee Intl Software 0268

Postby winston » Mon May 18, 2015 2:59 pm

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Kingdee Announces Strategic Investment from JD.com

JD.com to invest US$171 million in Kingdee


HONG KONG and BEIJING, May 17, 2015 /PRNewswire/ -- Kingdee International Software Group Company Limited (Stock Code: 00268.HK) and JD.com, Inc. (Nasdaq: JD), the largest online direct sales company in China, today jointly announced that they have entered into a definitive agreement, under which JD.com will invest HK$1.3 billion (approximately US$170 million) in cash in consideration for an approximately 10% stake in Kingdee.

In addition, Kingdee and JD.com plan to enter a strategic partnership under which they will collaborate on providing small and medium-sized enterprises with integrated ERP solutions through a cloud service.

The purchase price will be HK$4.60 per share, representing the average closing price of Kingdee's shares for the 15 trading days prior to the signing of the agreement.

"We are delighted to be partnering with JD.com, which has developed industry-leading proprietary e-commerce and logistics technologies," said Shaochun Xu, Kingdee Chairman and CEO. "This is a key milestone in Kingdee's development history. We will take this opportunity to leverage both companies' large customer and user bases, accelerate the development of Kingdee's cloud offering and expand our one-stop shop cloud services.

Collaboration with JD.com will further allow Kingdee to take our enterprise solutions to the next level by integrating JD.com's e-commerce and logistics vertical solutions. This planned strategic partnership will position us to provide leading cloud-based ERP solutions and continue to lead the enterprise mobile Internet market for years to come. "

"As one of the leading providers of enterprise solutions in China with a large SME customer base and worldwide reputation for excellence, Kingdee is an ideal partner to take advantage of JD.com's advanced e-commerce and logistics IT solutions," said Richard Liu, Founder and CEO of JD.com.

"We are excited to explore the integration of our best-in-class e-commerce and logistics systems with Kingdee's leading ERP solutions, and migrate an integrated package to an enterprise cloud solution to better serve the growing demand in China's enterprise solutions market."

The transaction is expected to close in the second quarter of 2015, subject to customary approvals and closing conditions.


About Kingdee International Software Group Company Limited

Kingdee International Software Group Company Limited ("Kingdee" or the "Group"; Stock Code: 00268.HK) was founded in 1993 and headquartered in Shenzhen, PRC. With "Let Data Creates Values" as its mission, 'Build the Biggest Enterprise Big Data Cloud in China' as its vision and 'Walk on ZHENGDAO (right track) and Walk by WANGDAO (noble way)' as its core values, "User-first, Small, Beauty, Fast" product and service belief, the Group provides software products and Cloud services for over four million corporates, hospitals and government organizations and for over fifty million users worldwide. Kingdee was named as the leader in the SME ERP market in China for the tenth consecutive year.


About JD.com, Inc

JD.com, Inc. is the largest online direct sales company in China. The Company strives to offer consumers the best online shopping experience. Through its content-rich and user-friendly website jd.com and mobile applications, JD.com offers a wide selection of authentic products at competitive prices and delivers products in a speedy and reliable manner.

The Company has the largest fulfillment infrastructure of any e-commerce company in China. JD.com operated 7 fulfillment centers and a total of 143 warehouses in 43 cities, and in total 3,539 delivery stations and pickup stations in 1,961 counties and districts across China, staffed by its own employees.


SOURCE KINGDEE
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Re: Kingdee Intl Software 0268

Postby behappyalways » Mon Mar 18, 2019 5:18 pm

another-hong-kong-stock-slumps-after-activist-calls-it-a-bubble
https://www.bloomberg.com/news/articles ... emium-asia
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Re: Kingdee Intl Software 0268

Postby behappyalways » Tue Mar 19, 2019 7:59 am

Webb斥有泡沫 金蝶挫14%
https://hk.finance.appledaily.com/finan ... 9/20636377

behappyalways wrote:another-hong-kong-stock-slumps-after-activist-calls-it-a-bubble
https://www.bloomberg.com/news/articles ... emium-asia
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Re: Kingdee Intl Software 0268

Postby winston » Wed Jul 24, 2019 12:53 pm

not vested

KINGDEE INT`L(268)

Analysis:

The Group announced a profit warning, where the net profit attribute to the owner in 2019H1 decreased by 30%-40%.

However, the revenue increased by 15%-20% and the revenue from cloud services also rose by 50%-60%.

We believe the profit warning was triggered by slower growth in traditional ERP, increase in R&D in Cloud services and a investment loss of RMB 18 mn from investing in Asiainfo.

Despite the profit warning, the cloud services developed well, so we think the reason to buy still exists.

During the period, Cosmic developed well. It acquired 28 new clients in the first half this year, whereas there were only about a dozen last year.

The average price of the contracts are RMB 1.1mn, and the clients were all with revenue more than 10bn.

In addition, the management also stated that the renewal rate remained high.

Guanyi Cloud, recorded a negative growth last year, resumed its growth in the first half after the adjustments from the Group, about 20% .

After the profit warning, the stock price has plunged, making it an attractive investment.

Strategy:
Buy-in Price: $7.20, Target Price: $8.90, Cut Loss Price: $6.50

Source: Phillips
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Re: Kingdee Intl Software 0268

Postby winston » Fri Jun 19, 2020 2:53 pm

not vested

KINGDEE INT`L(268)

Analysis:

The company is mainly engaged in enterprise resource planning businesses in China including development and sales of software products and cloud services.

The company has recently announced that it will corporate with Tencent cloud which is likely to strengthen the company`s software applications.

It is also likely that the company will slowly take over the market share from the overseas software vendors in the Chinese market and become the obvious choice of software vendors for Chinese enterprises.

The management of the company has also stated that the company is recovering from the COVID-19 outbreak with its revenue growing in March and April.

Besides that, the Government of Beijing has raised the lev el of Beijing health alert to the second hig! hest on the 16th of June with lowering the target office arrival rate and encouragement of home office.

The company, being one of the major “cloud office concept” company, is likely to be benefited from this policy.

Strategy:
Buy-in Price: $15.40, Target Price: $16.40, Cut Loss Price: $14.78

Source: Phillips
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