Stock Idea Chinasoft: An enabler and beneficiary of “Next- | FSMOne SG - Research Highlights

Stock Idea

Chinasoft: An enabler and beneficiary of “Next-Gen” technology

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• Chinasoft is one largest information technology (IT) services companies in China, offering a suite of IT services such as cloud integration and management, big data management, and IT services outsourcing.

• With the further technological advancement in China, and continued investment from the government to boost technological self-sufficiency, we expect Chinasoft to be positioned for growth.

• Chinasoft has customers across multiple industries from the finance to energy sectors, including multinational corporations and Chinese government state-owned enterprises (SOEs), demonstrating the depth of their know-how.

• As Huawei’s choice IT service partner, Chinasoft stands to be a beneficiary of Huawei’s aggressive push to be one of the top three cloud players in Asia and an IoT leader with their self-built Harmony operating system (OS).

• Our 2023 target price for Chinasoft International (HKEX:354) is HKD 18, and this translates to an upside potential of 43% at closing price of HKD 12.70 as of 8 November 2021.

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: Chinasoft International (HKEX:354)