KINGDEE INTL SFTW UNS/ADR - KGDEY STOCK NEWS

Kingdee International Software Group reported strong interim results for the period ended June 30, 2021. Revenue from cloud services rose by 55.1% year-on-year to RMB1,238 million, accounting for 66.1% of total revenue, which increased by 35.0% to RMB1,872 million. The company achieved a 71.5% rise in subscription ARR to approximately RMB1.27 billion. Despite this growth, a loss of RMB248 million was recorded. Kingdee continues to enhance its R&D in cloud services with significant milestones in customer onboarding and strategic partnerships.

On July 2, 2021, Kingdee Software Group announced a strategic cooperation agreement with BGI Gene Technology in Shenzhen. This partnership aims to enhance BGI's human resource management through Kingdee's digital solutions. BGI, a leading genomics organization, seeks to optimize its talent management and operational efficiency. Kingdee, established in 1993, has been a key player in China’s enterprise service market and has served over 6.8 million clients globally. The collaboration will leverage both companies' strengths to drive digital transformation in life sciences.

At the 2021 Kingdee Cloud Cosmic Summit on May 8, Kingdee launched its Kingdee Cloud Cosmic PaaS platform v4.0, splitting its original platform into PaaS and SaaS brands. With a focus on digital transformation, Kingdee aims to empower enterprises to become software companies. The company has invested nearly RMB5 billion in R&D, holds over 110 patents, and seeks to enhance Chinese enterprises' confidence in local software. Kingdee plans to invest RMB2 billion over five years to advance the SaaS industry.

On May 21, 2021, Kingdee Software Group partnered with Yuexiu Property to enhance digital and intelligent construction in the property sector. The collaboration, leveraging Kingdee Cloud Cosmic, aims to integrate advanced technologies like AI and big data to boost Yuexiu's business development. This marks an expansion of a long-standing relationship, as Yuexiu has utilized Kingdee's products since 2002. The strategic agreement focuses on creating a digital platform for the property industry, reflecting Kingdee's commitment to innovation and service excellence.

Kingdee International announced a strategic investment in Shanghai i-Search Software, a leader in Robotic Process Automation (RPA), during the Kingdee Cloud Cosmic Summit on May 16, 2021. This collaboration aims to enhance Kingdee’s Cloud Cosmic PaaS platform by integrating RPA technology, addressing enterprise automation needs across multiple sectors. The RPA market in China reached RMB1.02 billion in 2019, reflecting rapid growth. Kingdee's investment is expected to innovate product offerings and strengthen its market position.

Kingdee International Software Group announced its annual results for 2020, reporting a turnover of approximately RMB3.36 billion, a 0.9% year-on-year growth. Notably, revenue from Kingdee Cloud business surged by 45.6%, constituting 57% of total revenue. However, the enterprise resource planning (ERP) segment saw a 28.2% decline. Loss attributable to shareholders was approximately RMB335 million due to the shift towards a cloud subscription model. The company was recognized as a leader in the SaaS industry in China and has high growth expectations for its cloud products moving forward.

Kingdee International Software Group announced at the Kingdee Cloud Digital Transformation Forum in Chongqing that it aims to empower Chinese enterprises' digital capabilities to tackle challenges like COVID-19 and the trade war. CEO Robert Xu emphasized the importance of digital capacity in enhancing competitiveness and introduced five platforms for businesses to develop digital capabilities. Notable examples include Jointown Pharmaceutical and Huawei Marine, which successfully adapted during the pandemic. Kingdee Cloud Cosmic was also recognized in Gartner's global vendor list for its cloud solutions.

Kingdee International Software Group reported its interim results for the period ending June 30, 2020. Total revenue declined by 6.6% year-on-year to RMB1,387 million, while cloud service revenue grew 45.1% to RMB798 million, making up 57.5% of total revenue. The ERP segment saw a 37.0% drop to RMB589 million. The company incurred a loss of RMB224 million, a shift from the prior year's profit of RMB110 million, largely due to strategic shifts towards cloud services and COVID-19 impacts. Despite challenges, Kingdee Cloud Cosmic and Galaxy showed strong customer acquisition and revenue growth.