净利润有望持续释放、后续纳入港股通有望显著驱动估值弹性浪潮为国内第三大ERP 行业龙头,客户结构以大中型国央企为主,相比金蝶、用友具备更好的业绩成长性和确定性,受益国产替代趋势持续(2027 年前应替尽替)、公司云业务利润率持续提升、AI 标杆项目宣传效应释放,我们上调公司2025-2026 年归母净利润至5.2/6.8(前次为4.0/4.7 亿元),新增2027 年归母净利润预测8.5 亿元,...
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