麥格理:對中國軟件行業長遠看法正面 首選金蝶(0268.HK)
麥格理髮表的研究報告指,該行於北京、上海舉行了為期三日的參觀團,認為在宏觀環境的壓力下,中國軟件行業雖面對傳統業務增長放慢及利潤受壓,但仍保持彈性,受邀出席的企業表示有計劃增加研發投入並估計新業務包括雲業務等可有強勁增長。
該行指出,由於中國中小企壽命相對短,故來自政府及國企的需求相對較重要,所以許多受邀出席的企業均指出,因需要客製化產品,故拖累利潤表現遜美國同業,但認為雲轉型可大大改善他們在提供IT服務時的效率,而受惠訂閲的收入模式,可提早帶動現金流。
麥格理表示對中國軟件行業長遠看法正面,並首選金蝶國際(0268.HK)
,認為其本地化服務相知可成短期增長引擎,而云轉型亦有助軟件供應商採取訂閲形式的商業模式,以改善現金流水平,予目標價9.5港元,評級“
跑贏大市
”。
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