SaaS概念走強，中國軟件國際大漲超11%
今日港股SaaS概念全線走強，成分股中，金山軟件、微盟集團漲近8%，明源雲漲超10%。中國軟件國際高開高走領漲大盤，收漲逾11%報6.12港元，最新總市值超過166億港元。全天成交額高達近8億港元，換手率5.35%，接近7月9日曆史最高水平。
數據來源：富途牛牛
消息面上，中國軟件國際市前現一宗涉資超5億港元大手成交，每股作價5.23港元，較昨日收市價折讓近5%，涉及9725萬股。
另外，工信部公佈數據顯示，1-8月，內地軟件業業務收入近5萬億元（人民幣，下同），按年增10%；利潤增速穩步上升，全行業實現利潤總額6020億元，同比增長5.9%。
上半年SaaS行業穩步發展，與疫情的持續不無關係。一方面，遠程辦公模式全面開啟，使得雲計算需求短期內增長迅速，Zoom、Teams、騰訊會議、金山文檔、釘釘等使用量均大幅度增長。這在某種程度上大幅節約了企業營銷成本。
另一方面，疫情的特殊性和持續性，可能在世界範圍內對社會習慣、社會文化產生巨大改變，人們越來越習慣遠程辦公、企業業務上雲、雲端交流等，使得雲計算市場大幅拓寬。
在行業加速發展的情況下，中國軟件國際上半年利潤增長強勁。根據8月底公佈的2020年中期業績顯示，中國軟件國際期內實現營業收入約60.6億元，同比增長9.4%；毛利16.5億元，同比增長5.2%；盈利同比增長10.7%至4億元，再創上市新高。
（單位：人民幣/萬元）
數據來源：IFinD
其中，服務性收入約59.7億元，比去年同期增長8.7%。主要驅動因素來自雲智能業務實現同比34.2%的強勁增長，和核心大客户業務穩健增長。毛利率約為27.2%，較去年同期降低1.1%。主要原因是受疫情影響，企業復工延遲，部分項目驗收和收入確認時點延後。
展望未來，在政策方面，疫情常態化背景下，國家多部門正在進一步加大對數字經濟的政策支持力度。工信部部長肖亞慶9月初表示，將持續推動我國數字經濟高質量發展。
中金公司表示，維持2020和2021年收入預測不變。預計中國軟件國際2020 年收入增速將從去年的13.8%提升至19.3%，利潤率逐漸改善，淨利潤率將延續增勢，從2019財年的6.3%提升至2020財年和2021財年的6.6%和7.0%。
光大證券指出，作為華為同舟共濟型夥伴，中國軟件國際基石業務來自華為的收入佔比超50%，雲智能業務與華為雲深度綁定拓展，華為潛在受限風險引發市場對其未來業績成長性擔憂。
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