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《大行報告》瑞銀:金蝶(00268.HK)中期虧損逾2億人幣 金蝶雲蒼穹盈利能力令人關注
阿思達克 08-19 14:10
瑞銀發表的研究報告指,金蝶(00268.HK)上半年收入按年跌6.6%至13.9億元人民幣(下同),淨虧損2.24億元,毛利率企穩在79.5%,而經營利潤率則由去年同期的8.3%跌至負17.1%,經營開支按年增長21%,高過預期,主要因為研發開支按年增長42%。

該行指出,今年上半年公司的雲轉型加快,傳統ERP業務跌37%,而雲端ERP業務則增長45%至7.98億元,佔整體收入的57.5%,而主要的雲產品「金蝶雲·星空」銷售按年增30%至5.01億元,用戶數亦增長37%,「金蝶雲蒼穹」收入按年升310%至6,300萬元,並錄78名新客,進展良好,惟其盈利能力仍令人憂慮。

瑞銀引述管理層指,對雲業務下半年增長維持信心,估計全年將貢獻六成的收入,公司亦會繼續投資研發以加強雲ERP的謊爭力。估值方面,該行正檢討對金蝶的預測和前景。(el/u) ~

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