Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Companies

    Kingdee set to ramp up efforts in cloud services

    By Zhou Mo in Shenzhen, Guangdong | China Daily | Updated: 2019-08-15 10:10
    Share
    Share - WeChat
    A logo of Kingdee at an expo. [Photo/IC]

    Chinese business software specialist Kingdee International Software Group is ramping up efforts to develop cloud services despite losses and intense competition as it strives to grasp the opportunities brought about by the digitalization of Chinese enterprises.

    The Hong Kong-listed company said revenue from its cloud services business accounted for 37 percent of the company's total in the first half of 2019, up from 27.8 percent over the same period a year ago. It aims to further increase the percentage to 60 percent by the end of 2020.

    "China is going through a transformative period from consumer internet to industrial internet. There is robust demand for digital transformation among Chinese enterprises. We are playing an increasingly important role in the process," Kingdee Chairman Xu Shaochun said at the news conference accompanying its 2019 interim results announcement on Wednesday.

    Kingdee, which had long been a traditional software provider, has turned its focus to the cloud services business to grab the opportunities in high-tech development as enterprises go digital.

    Revenue from its cloud business reached 550 million yuan ($78 million) in the first six months, surging 54.9 percent year-on-year.

    But the company is still posting losses in the business due to high operating costs.

    The Kingdee Cloud Galaxy product designed for growth enterprises lost about 10 million yuan in the first half, but Xu said it is expected to turn a profit later this year. Kingdee Cloud Cosmic, which focuses on providing services to large enterprises, still needs two to three years to break even, the top official added.

    The Shenzhen-headquartered company reported revenue of approximately 1.49 billion yuan in the first half of 2019, rising 16.1 percent compared with a year ago. Net profit though stood at roughly 110 million yuan, down 35.4 percent year-on-year.

    Kingdee's cloud development strategy comes at a time when an increasing number of companies such as technology giants Alibaba, Tencent and Baidu are turning their focus to the lucrative cloud market.

    Lin Bo, chief financial officer of Kingdee, said he hopes all players can work together to make the market grow bigger.

    "When it grows big enough, economies of scale will appear. That will offset cost and bring better development for all of us," Lin said.

    Xu said the ongoing China-US trade dispute presents a "good opportunity" for Chinese technology enterprises to grow by pushing them to move faster to innovate and develop their core technologies.

    He added that with the launch of Kingdee Cloud Cosmic, the company has gained the technological capability to replace the products of foreign companies.

    "We have already replaced foreign products in many large enterprises," he said.

    Xu Wenting, a senior analyst from consultancy firm IDC, said development of the Chinese SaaS(Software as a Service) market is still in its early stages and there is enough room for industry players to explore.

    Policy and business environment at the present time are both beneficial for Chinese companies, she said.

    Kingdee's shares rose HK$0.38(0.5 cent) or by 5.39 percent, to close Wednesday at HK$7.43 on the Hong Kong stock exchange.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    日韩精品久久无码中文字幕| 亚洲AV综合色区无码一区爱AV| 亚洲AV无码一区二区二三区软件| 国模无码一区二区三区不卡| 最近免费中文字幕中文高清| 亚洲精品无码你懂的网站| 亚洲中文久久精品无码| 中日精品无码一本二本三本| 无码精品视频一区二区三区| 亚洲精品欧美二区三区中文字幕| 无码精品人妻一区二区三区影院| 无码人妻精品中文字幕| 精品无码免费专区毛片| 久久久久久久人妻无码中文字幕爆| 国产成人无码久久久精品一| 无码人妻久久久一区二区三区| 最近2019中文字幕大全第二页| 中文字幕无码免费久久| 国产激情无码一区二区三区| 亚洲综合无码AV一区二区| 亚洲欧洲中文日韩久久AV乱码| 无码AV中文字幕久久专区| 无码任你躁久久久久久老妇 | 波多野结衣中文在线播放| 国产精品va在线观看无码| 免费A级毛片av无码| 无码精品国产一区二区三区免费| 免费A级毛片无码A∨免费| 亚洲日本va午夜中文字幕一区| 人妻AV中文字幕一区二区三区| 日韩免费a级毛片无码a∨| 精品无码三级在线观看视频 | 亚洲∧v久久久无码精品| A级毛片无码久久精品免费| 熟妇人妻系列aⅴ无码专区友真希 熟妇人妻系列av无码一区二区 | 人妻少妇无码视频在线| 久久久久亚洲AV无码专区桃色| 日韩欧国产精品一区综合无码| 国产精品无码不卡一区二区三区| 国产精品无码久久四虎| 国产免费黄色无码视频|