Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

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<ul><li>Analysts are bullish on FEHT due to strong second half fiscal year 2024 hotel revenue per available room (RevPAR) and merger and acquisition (M&amp;A) prospects. </li><li>DBS is cautious about the long-term market gains from China's AI breakthrough, expressing skepticism about its potential impact on boosting the market. </li><li>CGSI has upgraded ISDN to 'add' and raised their target price to 35 cents, citing an industrial automation-led recovery as the reason for the upgrade.</li></ul>

Analysts are bullish on FEHT due to strong second half fiscal year 2024 hotel revenue per available room (RevPAR) and merger and acquisition (M&amp;A) prospects. DBS is cautious about the long-term market gains from China's AI breakthrough, expressing skepticism about its potential impact on boosting the market. CGSI has upgraded ISDN to 'add' and raised their target price to 35 cents, citing an industrial automation-led recovery as the reason for the upgrade.

Singapore Market Roundup (13-Feb-2025): FEHT favored for strong RevPAR and M&A in 2HFY2024.

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Media reported that Huawei may launch self-developed ERP (MetaERP) in Apr.</li><li>This is negative to the China ERP market as competition heats up but the impacts to Yonyou and Inspur will be larger than Kingdee as the formers are more largeenterprises/ SOEs focused.</li><li>Also, Huawei has to consider the potential implications to its Cloud business as Kingdee/ Yonyou/ Inspur may scale down their cloud resources usage with Huawei Cloud given direct competition in ERP.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Media reported that Huawei may launch self-developed ERP (MetaERP) in Apr.This is negative to the China ERP market as competition heats up but the impacts to Yonyou and Inspur will be larger than Kingdee as the formers are more largeenterprises/ SOEs focused.Also, Huawei has to consider the potential implications to its Cloud business as Kingdee/ Yonyou/ Inspur may scale down their cloud resources usage with Huawei Cloud given direct competition in ERP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Software & IT Services – Implications of Huawei MetaERP

<ul><li>We recently talked to some software and IT services companies regarding FY23E business outlook.</li><li>While most companies are encouraged by China reopening and lifting of COVID restrictions, the pace of business recovery is likely to be slow.</li><li>We suggest investors to focus on the localization theme. Horizontal SaaS and IT services companies with government/ telecom/ financial customer exposure are likely to benefit.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We recently talked to some software and IT services companies regarding FY23E business outlook.While most companies are encouraged by China reopening and lifting of COVID restrictions, the pace of business recovery is likely to be slow.We suggest investors to focus on the localization theme. Horizontal SaaS and IT services companies with government/ telecom/ financial customer exposure are likely to benefit.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Software & IT Services – Year of rabbit: still about localization

<ul><li>China IaaS + PaaS market grew 30.7% YoY in 1H22, according to IDC data.</li><li>However, this may have slowed to 10-20% YoY in 3Q22, reflected by China Telecom/ China Mobile sluggish cloud revenue growth. </li><li>China cloud spending in 2023E could remain conservative with structural changes</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China IaaS + PaaS market grew 30.7% YoY in 1H22, according to IDC data.However, this may have slowed to 10-20% YoY in 3Q22, reflected by China Telecom/ China Mobile sluggish cloud revenue growth. China cloud spending in 2023E could remain conservative with structural changesContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Software & IT Services – China IaaS + PaaS growth slowed further in 3Q22

<ul><li>Growing macro concerns related to stagflation, US rate hike, geopolitical tensions and RMB depreciation continue to weigh on growth stocks, especially to software tech. </li><li>We use five criteria including 1) valuation, 2) profitability, 3) cash level, 4) short ratio and 5) RMB/USD depreciation to determine companies that are less vulnerable to market fluctuations. We find Hikvision (BUY), Glodon (BUY) and AsiaInfo (NR) in the best positions under these five criteria.</li><li><div><div><div>Heightened macro uncertainties unfavorable to software tech stocks. </div></div></div></li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Growing macro concerns related to stagflation, US rate hike, geopolitical tensions and RMB depreciation continue to weigh on growth stocks, especially to software tech. We use five criteria including 1) valuation, 2) profitability, 3) cash level, 4) short ratio and 5) RMB/USD depreciation to determine companies that are less vulnerable to market fluctuations. We find Hikvision (BUY), Glodon (BUY) and AsiaInfo (NR) in the best positions under these five criteria.Heightened macro uncertainties unfavorable to software tech stocks. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Software & IT Services - Which Stocks Are Less Vulnerable to Market Volatility?

China

Kingdee International Software Group is a leading provider of cloud-based enterprise management SaaS solutions and enterprise resource planning (ERP) software. The company offers solutions for financial management, human resources, supply chain, and manufacturing, often powered by AI. It was established in 1993 and is headquartered in Shenzhen, China.

Kingdee International Software Group (268 HK)

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Kingdee International Software Group (268 HK)

Singapore Market Roundup (13-Feb-2025): FEHT favored for strong RevPAR and M&A in 2HFY2024.

FEHT is favored by analysts for strong hotel RevPAR, DBS is skeptical of China's AI breakthrough, and CGSI upgrades ISDN on industrial automation...

Singapore Market Roundup

China Software & IT Services – Implications of Huawei MetaERP

This is negative to the China ERP market as competition heats up but the impacts to Yonyou and Inspur will be larger than Kingdee as the formers...

CMB International

China Software & IT Services – Year of rabbit: still about localization

While most companies are encouraged by China reopening and lifting of COVID restrictions, the pace of business recovery is likely to be slow.

CMB International

China Software & IT Services – China IaaS + PaaS growth slowed further in 3Q22

China IaaS + PaaS market grew 30.7% YoY in 1H22, according to IDC data. However, this may have slowed to 10-20% YoY in 3Q22, reflected by China...

CMB International

China Software & IT Services - Which Stocks Are Less Vulnerable to Market Volatility?

Growing macro concerns related to stagflation, US rate hike, geopolitical tensions and RMB depreciation continue to weigh on growth stocks,...

CMB International

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)