Market Position and Customer Base - Kingdee has maintained the largest market share in the enterprise application software sector for fast-growing enterprises for 16 consecutive years[3]. - The company has achieved the largest share in the enterprise-grade SaaS Cloud services industry for 4 years[3]. - Kingdee serves over 6.8 million enterprises, government agencies, and other organizations globally[3]. - The company is the only Chinese SaaS provider selected in Gartner's global market guide[3]. - Kingdee ranked No.1 in SaaS ERM market share for four consecutive years and received the customer satisfaction award in the 2020 IDC Global SaaS Customer Satisfaction Survey[29]. Financial Performance - Revenue for 2020 was RMB 3,356,445, a slight increase of 0.9% from RMB 3,325,590 in 2019[22]. - The company reported a loss attributable to owners of RMB (335,479) in 2020, compared to a profit of RMB 372,580 in 2019[22]. - Total assets increased to RMB 10,722,079 in 2020, up from RMB 8,420,153 in 2019[22]. - Total equity attributable to owners of the company rose to RMB 7,789,631 in 2020, compared to RMB 5,986,928 in 2019[22]. - The Group's total revenue for the year ended December 31, 2020, was approximately RMB3,356,445,000, representing a year-on-year increase of 0.9% compared to RMB3,325,590,000 in 2019[34]. Cloud Business Growth - The cloud business achieved a rapid growth of 45.6% in 2020, indicating a strong shift towards subscription-based services[24]. - Revenue from the cloud services business grew by approximately 45.6% year-on-year, increasing from RMB1,313,595,000 in 2019 to RMB1,912,385,000, accounting for 57.0% of total revenue[35]. - Kingdee Cloud Cosmic signed contracts with 367 customers in 2020, with a total contract value of approximately RMB 467 million[25]. - Kingdee Cloud Galaxy generated revenue of RMB 1,141 million, reflecting a year-over-year growth of over 31.4%[26]. - Kingdee's revenue from Jingdou Cloud grew by 62.4% year-on-year, with a cumulative customer base exceeding 160,000 and a renewal rate of about 76%[27]. Customer Satisfaction and Service - The company was awarded the 2020 IDC SaaS Customer Satisfaction Award, highlighting its strong customer service[3]. - Kingdee received 295 customer appreciation letters, reflecting strong customer recognition and support for its services[29]. - Kingdee provided 24-hour customer service during the pandemic to ensure normal operation of customers' businesses[73]. Strategic Initiatives and Future Plans - The company plans to create a new Kingdee with a subscription business model over the next three years, focusing on enhancing digital competitiveness for enterprises[30]. - Kingdee aims to strengthen its technological advantages and become the most reliable enterprise service platform[30]. - The Group's strategic initiatives include promoting a combined strategy of "Platform + Finance & HR Application + Ecosystem" to enhance product competitiveness[35]. - Kingdee aims to create a new subscription business model for small and medium-sized enterprises within the next three years[76]. Research and Development - Total research and development costs were RMB882,559,000, representing a year-on-year increase of 35.7%, with R&D costs recognized in the consolidated income statement increasing by 67.7% to RMB983,874,000[55]. - Significant resources were invested in R&D to enhance product value and encourage continuous innovation, aiming to build a highly competitive cloud platform[193]. Corporate Governance and Management - The Company has established four specialized committees: audit committee, remuneration committee, nomination committee, and corporate governance and strategy committee to oversee various aspects of its affairs[165]. - The Board is responsible for ensuring the accuracy and fairness of the financial statements of the Company[196]. - The Company has mechanisms in place for employees to report concerns about financial reporting and internal controls[169]. - The Company emphasizes high transparency in the Board member selection process to align with business requirements[175]. Charitable Contributions - Kingdee donated RMB 10 million to support pandemic relief efforts and assisted small and medium enterprises during challenging times[29]. - The Group made charitable and other donations amounting to approximately RMB 10,000,000 in 2020, compared to approximately RMB 1,000,000 in 2019, indicating a significant increase of 900%[88]. Employee and Workforce Development - The total number of employees in the Group reached 10,663 during the reporting period[71]. - Kingdee encouraged R&D and delivery of high potential talents to grow in rotation, promoting a younger and more professional workforce[71]. Risk Management and Internal Controls - The Company has established an internal audit function to maintain an effective risk management and internal control system, providing reasonable assurance against material misstatement[182]. - The Board reviews the risk management and internal control system annually to safeguard shareholders' investments and the Company's assets[182]. - The internal control system was deemed adequate and effective, with no material issues affecting financial, operational, or compliance controls identified during the year ended December 31, 2020[194].
金蝶国际(00268) - 2020 - 年度财报