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Zhitong
2023.10.06 05:46
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Hong Kong Stock Market News | SaaS Concept Stocks Lead the Gains, Institutions Believe Domestic SaaS Will Enter a Golden Demand Cycle

SaaS stands for Software as a Service, which refers to the provision of software operation services.

According to the Zhongtong Finance APP, SaaS concept stocks have seen the highest increase. As of the time of writing, Douyaba (01753) has risen by 82.40%, reaching HKD 0.42; Xinnyu Technology (09600) has risen by 16.09%, reaching HKD 1.01; and Yidu Tech (02158) has risen by 4.46%, reaching HKD 3.98.

It is reported that SaaS refers to software operation services. Currently, China's SaaS industry is in a period of rapid growth with vast potential. According to previous research data from Huaxi Securities, the scale of China's SaaS service market in 2021 was 32.26 billion yuan, a year-on-year growth of 37.3%. It is estimated that by 2023, the scale of China's SaaS service market will reach 55.51 billion yuan, a year-on-year growth of 29.7%.

TF Securities pointed out that the acceleration of domestic and digitalization efforts by state-owned enterprises has significantly opened up demand space. If the overall demand of private enterprises recovers, domestic SaaS is expected to enter a golden demand cycle.

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