花旗报告指，中软(00354.HK) 管理层预计今年收入和净利润将实现按年增长，又把去年利润率收缩归因于更激进的定价策略和竞争压力。管理层预计毛利率将稳定并实现改善，受惠于新项目更高的内部盈利要求及内部采用AI降成本，其AI业务专注于平台服务与产品类型。
报告亦引述管理层指，微软停止为华为授权视窗操作系统，将成为推动鸿蒙OS迁移项目的有利因素，公司在该领域保持较高的市场份额。管理层认为传统技术服务已见底，未来将有所改善。
该行下调对中软今年净利润预测下调6%，目标价由5.1元上调至5.5元，目标市盈率17.2倍，为十年平均值高1个标准差，反映新兴与AI业务比例增加及AI机遇，投资评级“中性”。(fc/j)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-31 16:25。)
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