Live Updates > Live Update Details
2025-09-17 14:24:57
[Morgan Stanley says that the mainland software industry still needs to be cautious, and Beisen Holdings is the first choice] ⑴ Morgan Stanley issued a research report on Wednesday saying that the fundamentals of the mainland software industry have not changed and it maintains a cautious attitude. Before the demand has actually turned, new technologies on the supply side will only drive the reallocation of existing budgets. In a low-interest rate environment, the sector will follow the overall market liquidity and be more flexible because the proportion of active fund allocation is extremely low. Themes such as AI applications and technology localization may affect stock prices, but they cannot reverse the fundamentals of the industry for the time being. ⑵ The bank is more optimistic about H-share software targets, and Beisen Holdings is the first choice ("overweight", target price of HK$10.3), and its ⑶ revenue is expected to accelerate growth; Kingdee International, China Software International, and Kingsoft Software are all rated "in line with the market", with target prices of HK$14.2, HK$6.6, and HK$38 respectively. As a leader in human resources technology, Beisen Holdings' human resources management SaaS products have gradually increased in penetration in large enterprises, supporting growth.
