Tiger Brokers

BUZZ-China's Kingdee jumps as cloud recurring revenue grows

Reuters
Apr 10
BUZZ-China's Kingdee jumps as cloud recurring revenue grows

** Shares of Kingdee International Software Group 0268.HK jump 10.3% to HK$12.4, set for the biggest one-day pct rise since March 6

** Stock on course for third straight session of gains; fifth biggest pct gainer on Hang Seng Tech Index .HSTECH, which is up 5.8%

** The Chinese cloud services provider said its Kingdee Cloud subscription annual recurring revenue for quarter ended in March reached 3.56 bln yuan ($484.50 mln), up 20% y/y

** Kingdee said it gained a number of new customers during the period, including Kweichow Moutai, Geely Group, China Meheco Group, China Paper, 01.AI, AutoAgents.ai

** Hang Seng Commerce & Industry Index .HSNC jumps 4.5%, Hang Seng Index .HSI rises 4.2%

** Stock up 43.7% YTD

($1 = 7.3478 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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