---
title: "Credit Suisse lowers the target price for KINGDEE INT'L to 18.85 yuan, expects to benefit from AI, reiterates it as the top choice among Chinese software stocks"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/279908672.md"
description: "Credit Suisse has lowered the target price for KINGDEE INT'L to HKD 18.85, reaffirming it as the top choice among Chinese software stocks. It is expected that revenue and net profit will grow by 13% and 152% respectively in the second half of 2025. SaaS revenue accounts for 51% of total revenue, and management aims for AI Suite revenue to exceed RMB 1 billion. Despite a 26% decline in stock price since the beginning of the year, Credit Suisse believes that KINGDEE INT'L will benefit from AI rather than being replaced, due to its expertise and data accumulation in the ERP field"
datetime: "2026-03-20T07:49:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279908672.md)
  - [en](https://longbridge.com/en/news/279908672.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279908672.md)
---

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# Credit Suisse lowers the target price for KINGDEE INT'L to 18.85 yuan, expects to benefit from AI, reiterates it as the top choice among Chinese software stocks

Credit Suisse published a research report indicating that Kingdee International (00268.HK) is expected to see revenue and net profit growth of 13% and 152% respectively in the second half of 2025, in line with expectations. Software as a Service (SaaS) revenue grew by 21% last year, accounting for 51% of total revenue, driving an improvement in gross margin and operational leverage, achieving breakeven. The management's goal is for AI Suite revenue to exceed RMB 1 billion this year (accounting for 12% of revenue), and to use token consumption as an internal key performance indicator, aiming for 70% of new code to be generated by AI. Driven by SaaS and AI growth, management expects double-digit revenue growth this year, with net profit margin doubling to about 7%.

The firm noted that Kingdee's stock price has fallen 26% year-to-date, mainly due to market concerns about AI disrupting the industry. However, the firm believes that Kingdee will benefit from AI rather than being replaced, for several reasons: 1) Enterprise Resource Planning (ERP) is a system that records key business process data of enterprises, which is difficult to replace with AI; 2) Kingdee has accumulated a large amount of proprietary data and industry expertise over the past 30 years, which cannot be encompassed by AI models; 3) Its proactive embrace of AI strategies will put it ahead of competitors. The firm’s net profit forecasts for Kingdee over the next two years are 22% and 63% higher than market consensus, reaffirming it as the preferred choice among Chinese software stocks.

Credit Suisse lowered the group's target price from HKD 22.54 to HKD 18.85; rating "Buy."

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