Market Position and Recognition - Kingdee International ranked first in the SaaS ERM market for large, medium, and small enterprises in China according to IDC data[2]. - Kingdee was recognized as the only Chinese enterprise in Gartner's top five application platform software in 2020[2]. - Kingdee has maintained the largest market share in the enterprise application software sector for fast-growing enterprises for 17 consecutive years[114]. - The company has held the top position in the enterprise-grade SaaS ERM (Cloud ERP) and financial Cloud services industry for 4 consecutive years[114]. - Kingdee's efforts in the market have been recognized by IDC data, highlighting its leadership position[114]. Financial Performance - Revenue for 2021 reached RMB 4,174,147, an increase of 24.4% from RMB 3,356,445 in 2020[23]. - Kingdee's financial highlights indicate a strong performance, with significant growth in revenue and user base[3]. - Cloud services business achieved a strong growth of 44.2%, totaling approximately RMB 2,758 million, which accounted for 66.1% of total revenue[26]. - Kingdee Cloud subscription ARR (annual recurring revenue) amounted to approximately RMB 1.57 billion, representing a year-on-year growth of 58.5%[26]. - The loss attributable to owners was RMB (302,330), a slight improvement from RMB (335,479) in 2020[23]. - Total revenue for the year ended December 31, 2021, was approximately RMB 4,174,147,000, representing a 24.4% increase compared to 2020[35]. - The Group recorded a gross profit of approximately RMB 2,633,572,000, a year-on-year increase of approximately 19.2%, with a gross profit margin of approximately 63.1%[66]. Cloud Services and Product Development - Kingdee's cloud services have provided digital management solutions to over 680 organizations globally[2]. - Kingdee's new cloud products include Kingdee Cloud · Cang Qiong, Kingdee Cloud · Xing Han, Kingdee Cloud · Xing Kong, and Kingdee Cloud · Xing Chen, targeting various enterprise sizes[2]. - Kingdee plans to focus on the strategic expansion of "Platform + Finance & HR & Tax + Ecosystem" and transition to a cloud subscription model[31]. - Kingdee Cloud Cosmic and Kingdee Cloud Constellation recorded approximately RMB 385 million in revenue, an increase of 102.9% year-over-year, with a dollar retention ratio exceeding 120%[45]. - The Kingdee Cloud Cosmic PaaS platform will enhance technological capabilities in low-code development, master data management, and robotic process automation[38]. Strategic Initiatives and Future Plans - The management discussion highlighted future strategies for market expansion and potential mergers and acquisitions[3]. - Kingdee aims to become the most trusted enterprise service platform, aligning with its core values of integrity and service[2]. - Kingdee is committed to building a growth flywheel to achieve better reputation, products, ecosystem, implementation, and services[31]. - The company is focused on expanding its market presence and enhancing its product offerings through continuous innovation[2]. - Kingdee aims to establish more industry lighthouses in the large enterprise market and enhance quality management in key industries[30]. Customer Engagement and Market Expansion - The total number of signed customers reached 551, including 316 new customers such as CCB Fintech and Shagang Group[45]. - The number of customer appraisal letters received increased by over 48% year-on-year, totaling 440[28]. - Kingdee accumulated nearly 11,000 enterprise customers in the SME market by the end of the reporting period[49]. - The SME market cloud service revenue grew rapidly by 82.8% year-on-year, with an average dollar retention ratio of approximately 85%[49]. - Kingdee's digital credit services partnered with over 50 financial institutions and received the Guangdong Finance Innovation Award[50]. Research and Development - Total research and development costs were approximately RMB 1,260,069,000, an increase of approximately 42.8% year-on-year, with R&D capitalization rate dropping to approximately 33.6%[66]. - Kingdee has submitted a total of 213 patent applications for its new generation PaaS platform, Kingdee Cloud Cosmic, enhancing its technological capabilities[44]. - The company is actively integrating into the domestic innovation ecosystem, achieving compatibility certification with 23 domestic partners[55]. Corporate Governance and Management - The Company has complied with all corporate governance code provisions except for code provision A.2.1 during the financial year ended December 31, 2021[167]. - The Board has maintained effective supervision over the Group's strategic plans, management, and risk assessment[168]. - The Company has established a disciplined fund management principle to efficiently manage market risks[97]. - The Company emphasizes high transparency in the Board member selection process, ensuring a balance of skills and experience[199]. - The Company has adopted a Board Diversity Policy since August 2013, with two of the seven Board members being women, enhancing gender diversity[199]. Employee Engagement and Training - The total number of employees in the Group reached 11,588 during the reporting period[101]. - Kingdee served 136 universities and helped nearly 1,800 teachers improve their practical teaching abilities during the reporting period[104]. - The company provided digital management training to over 300 senior executives, including CEOs and CIOs, to promote digital transformation in Chinese enterprises[104]. - Kingdee aims to cultivate over 400 talents for the industry through skills competitions involving thousands of students from more than 500 universities[104]. Sustainability and Social Responsibility - Gree's commitment to sustainability includes a goal to reduce carbon emissions by 30% by 2025 through innovative manufacturing processes[107]. - The company is focused on advancing basic education in resource-scarce areas and supporting welfare initiatives in regions like Sichuan, Hunan, and Jiangsu[104]. Shareholder Information and Stock Performance - The company is listed on the Main Board of The Stock Exchange of Hong Kong Limited with stock code 0268[114]. - The Board did not recommend the declaration of a final dividend for the year ended December 31, 2021, consistent with the previous year[117]. - The company completed a placing of 133,280,000 new shares at a price of HK$17.82 per share, raising gross proceeds of approximately HK$2,375.1 million[136].
金蝶国际(00268) - 2021 - 年度财报