投资逻辑国内企业服务SaaS 领军。公司1995 年推出国内第一款基于Windows 的财务管理软件,2007 年开始转云,2024 年云服务收入占比达81.6%,面向大、中、小客群拥有星瀚&苍穹、星空、星辰三大核心产品解决方案。总量视角看,云转型后公司具备了更强的收入增长韧性(16-24 年保持正增长)、更高的人效(20-24 年人均创收CAGR达10%)、更低的费用率(20-24 年销售/研发...
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