Core Insights - Kingdee announced the comprehensive upgrade of "Kingdee Cloud" to "Kingdee AI" and introduced a new AI product called "Xiao K" at the 2025 Global Innovators Conference, marking the entry of enterprise management into the AI-native era [1] - The CEO of Kingdee emphasized that AI transformation involves a holistic reconstruction across operations, products, business models, ecosystems, organizations, talent, and leadership [1] Group 1: AI Product Launch - "Xiao K" is positioned as China's first enterprise-level AI-native super entrance, enabling interconnected AI applications to address specific pain points while facilitating cross-scenario collaboration [1] - The product currently aggregates nearly 20 AI agents that are ready to use, with a mini-program experience channel opened at the conference [1] Group 2: Transformation Framework - The transformation process includes seven key shifts: 1. Operations shifting from daily management to strategic execution 2. Products evolving from traditional offerings to intelligent systems 3. Business models transitioning from product sales to subscription or outcome-based pricing 4. Ecosystems moving from transaction-oriented to continuous intelligent symbiosis 5. Organizations transforming from hierarchical structures to neural network models 6. Talent competition shifting from quantity to high-density innovation 7. Leadership evolving from tangible control to intangible inspiration [1] Group 3: AI Development and Investment - The Vice President of Kingdee China acknowledged the inevitability of "hallucinations" in large models, emphasizing the need for continuous technological and engineering efforts to mitigate these issues [2] - AI investment is currently seen as incremental, with expectations that deeper AI integration will reduce overall business costs in the long term [2]

Core Insights - The core viewpoint emphasizes the necessity for businesses to adapt and transform in the AI era to avoid disruption and achieve renewal [1] Group 1: AI Transformation Directions - The CEO of Kingdee, Xu Shaochun, outlined seven transformation directions for enterprise management in the AI era, highlighting that AI transformation involves comprehensive restructuring across operations, products, business models, ecosystems, organizations, talent, and leadership [1] - The seven transformation directions include: 1. Transitioning from daily operations to strategic execution operations, leveraging AI for decision-making, analysis, and early warning systems 2. Shifting from traditional products to intelligent systems that possess cognitive capabilities 3. Evolving business models from product sales to subscription or outcome-based pricing for continuous value creation 4. Changing the enterprise ecosystem from transaction-oriented to continuous intelligence-oriented, emphasizing speed in intelligence and learning 5. Transforming organizational structures from hierarchical to neural network models for autonomous action and human-machine collaboration 6. Moving from quantity-based talent competition to high-density competition, focusing on high-quality talent with AI skills and innovative capabilities 7. Shifting leadership from tangible to intangible, where future leaders foster vision, trust, and data intelligence [1] Group 2: Kingdee's AI Initiatives - Kingdee announced the comprehensive upgrade of "Kingdee Cloud" to "Kingdee AI," introducing China's first enterprise-level AI-native super entrance, "Kingdee Xiao K," to establish a new paradigm for enterprise management AI applications [1] - The company has achieved a comprehensive upgrade through "platform + data cloud + AI-enhanced SaaS + AI-native intelligent agents," facilitating the collaborative evolution from single intelligent agents to multiple intelligent agents [2] - The newly launched AI-native intelligent agents cover various deep scenarios, including financial analysis, inventory management, and quality management, supporting AI transformation across finance, human resources, manufacturing, supply chain, and marketing [2] - Kingdee has signed strategic cooperation agreements with ten companies, including Tongwei Co., Ltd. and Lingban Technology, to promote the deep integration of AI technology in practical business scenarios, aiming to accelerate the industrialization and contextualization of AI results [2]

Core Viewpoint - The chairman of Kingdee Group, Xu Shaochun, proposed seven transformations for enterprise management in the AI era, emphasizing the need for companies to adapt to new operational and strategic paradigms [1] Group 1: Transformations in Operations - Operations should shift from daily management to strategic execution [1] - The product focus must transition from traditional products to intelligent systems [1] Group 2: Business Model Evolution - Business models need to evolve from selling products to subscription-based or outcome-based pricing [1] - The ecosystem should change from transaction-oriented to a model of continuous intelligent symbiosis [1] Group 3: Organizational Structure and Talent - Organizational structures should move from a pyramid model to a neural network model [1] - Talent competition should shift from quantity-based to high-density competition [1] Group 4: Leadership Changes - Leadership should transition from tangible to intangible forms [1]

Core Insights - The conference emphasized the importance of transitioning management paradigms in the AI era, highlighting that those who adapt will define the future [1][2] - The CEO of Kingdee, Xu Shaochun, introduced a theoretical framework of "Seven Transformations of Enterprise Management in the AI Era," which serves as a guide for intelligent transformation in global enterprises [1] Group 1: Seven Transformations - Operations should shift from daily operations to strategic execution, with intelligent agents replacing repetitive tasks and a focus on strategic monitoring [1] - Products need to transition from traditional offerings to intelligent systems that possess autonomous perception and decision-making capabilities [1] - Business models should evolve from selling products to subscription or outcome-based pricing, transforming one-time transactions into ongoing service relationships [1] - Ecosystems must change from transaction-oriented to continuous intelligent symbiosis, leveraging AI to unlock ecosystem multiplier effects [1] - Organizational structures should move from pyramid models to neural network models, breaking down departmental boundaries and eliminating middle layers [1] - Talent competition should shift from quantity to high-density competition, requiring young talents who understand AI and can innovate [1] - Leadership should transition from tangible control to intangible influence, focusing on providing spiritual motivation and emotional value [1] Group 2: Kingdee's Commitment and Innovations - Kingdee aims to empower enterprises and elevate Chinese management models globally, emphasizing the importance of leaders remembering their original mission in the AI era [2] - The company announced the upgrade of "Kingdee Cloud" to "Kingdee AI" and introduced a new AI product called "Xiao K," marking a significant step into the AI-native era of enterprise management [2] - Xu Shaochun stated that the AI era is not a short-term technological race but a long-term marathon that tests organizational resilience and strategic endurance, advocating for a long-term approach to embrace change and reshape management [2]

Core Insights - The chairman and CEO of Kingdee International Software Group, Xu Shaochun, proposed seven transformations for enterprise management in the AI era, emphasizing that AI transformation is not just a technological upgrade but a comprehensive reconstruction involving operations, products, business models, ecosystems, organizations, talent, and leadership [2]. Group 1: Transformations in Operations - Operations are shifting from daily operations to strategic execution [2]. Group 2: Transformations in Products - Products are transitioning from traditional offerings to intelligent systems [2]. Group 3: Transformations in Business Models - Business models are evolving from selling products to subscription-based or outcome-based charging [2]. Group 4: Transformations in Ecosystems - Ecosystems are moving from transaction-oriented to continuous intelligent symbiosis [2]. Group 5: Transformations in Organizations - Organizations are transforming from a pyramid structure to a neural network structure [2]. Group 6: Transformations in Talent - Talent competition is shifting from quantity-based to high-density competition [2]. Group 7: Transformations in Leadership - Leadership is transitioning from tangible to intangible forms [2].

Core Insights - Shenzhen Yuntian Lifei Technology Co., Ltd. announced a deep integration plan with Kingdee Group, marking the first domestic project combining "independent reasoning chip computing power engine + enterprise-level software ecosystem" [1] - The initiative aims to connect the entire "computing power-software-scenario" chain, facilitating seamless integration of AI reasoning capabilities into enterprise digital processes [1] Summary by Categories - **Partnership Details** - The collaboration includes the launch of the "Kingdee + Yuntian Lifei reasoning acceleration card" integrated suite [1] - Establishment of a "Smart Computing Native Technology Laboratory" [1] - Development of "AI+" integrated solutions [1]

每经AI快讯，11月3日，截至发稿，汇量科技(01860.HK)涨4.93%、兑吧(01753.HK)涨4%、金蝶国际 (00268.HK)涨2.18%。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 金蝶國際軟件集團有限公司 呈交日期: 2025年11月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00268 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 6,000,000,000 | HKD | | 0.025 HKD | | 150,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 6,000,000,000 | HKD | | 0.025 HKD | | 150,000,000 | 本月底法定/註冊股本總額： HKD 15 ...

Core Viewpoint - Kingdee International (00268) saw a stock price increase of over 4%, reaching HKD 15.05, with a trading volume of HKD 230 million, following the announcement of its financial performance and new client acquisitions [1] Financial Performance - As of September 30, Kingdee's annual recurring revenue (ARR) from its cloud subscription services was approximately RMB 3.86 billion, representing a year-on-year growth of 18% [1] - The net renewal rates for various cloud products were as follows: Kingdee Cloud · Cang Qiong at 105%, Kingdee Cloud · Xing Kong at 95%, Kingdee Cloud · Xing Chen at 93%, and Kingdee Jing Dou Cloud at 88% [1] Client Acquisition - During the reporting period, Kingdee signed new contracts with several clients, including Chin Hin Group Berhad, BAIC Group, Yuchai Group, Xinjian Group, Huaxi Biological, and Qiangnao Technology [1] Strategic Partnerships - On August 13, the company signed an ERP project construction agreement with Chin Hin Group Berhad, leveraging its Xing Han and AI quotation agent products. This partnership signifies a strategic shift from merely following Chinese enterprises abroad to directly engaging with local companies, potentially setting a benchmark for regional replication [1]

Core Viewpoint - Kingdee International (00268.HK) has seen a significant increase in its stock price, rising over 4% despite market trends [1] Group 1 - The stock price of Kingdee International increased by 4.3%, reaching HKD 15.05 [1] - The trading volume for Kingdee International amounted to HKD 230 million [1]