UFIDA Network (600588): Breakthrough in Cloud Native ERP New Product Release Technology Architecture

UFIDA Network (600588): Breakthrough in Cloud Native ERP New Product Release Technology Architecture

This report reads: The company released YonSuite, a cloud-native architecture ERP product, to achieve a breakthrough in technology architecture. The future is of great significance to the company’s strategy.

Investment points: Maintain Overweight rating and maintain target price of 39.

35 yuan.

Maintain the EPS forecast for the next three years to zero.

35/0.

38/0.

48 yuan, maintaining a target price of 39.

35 yuan.

The company released YonSuite, a cloud-native ERP product, with a breakthrough in technical architecture.

The important features of cloud native are containers, microservices and DevOps. YonSuite is based on cloud native technology and benchmarks Oracle NetSuite to achieve pure public deployment + pure SaaS services.

We believe that YonSuite is a strategic product, which has 苏州桑拿网 achieved a breakthrough in technical architecture and improved the company’s ERP product line, which is of strategic significance to the company.

The company has released a new ecological strategy and has already obtained first-mover advantages in terms of corporate service ecology.

UFIDA’s new ecological strategy includes: 1. Develop strategic alliances with partners.

2. Be integrated (developing more integrators so that iuap can support more partners’ solutions).

3. Cloud market (mall, cloud fusion and optimization).

4. Service integration (consulting, implementation, development, operation and maintenance).

5. Platform operation (talent ecology, online / offline, capital operation).

At present, UFIDA has more than 4,300 partners in the market, and more than 6,800 products and services on the shelves. We believe that UFIDA has obtained a first-mover advantage in terms of ecology, and has previously locked in the bonus for the future development of China’s SaaS market.

The ERP localization machine has encountered and is gradually being released.

As an important tool for enterprise digital operation, ERP software is integrated in all aspects of enterprise operation.

We believe that at this historic turn, central SOEs will become pioneers in the localization of ERP. Such customers are UFIDA’s strengths, so the company will fully benefit.

Risk Warning: Cloud Business Develops Less Than Expected, Enterprise Management Software Industry Is Intensely Competitive