Kingdee International Software's Earnings Improve in 2023

Revenue Growth Drives Progress

Kingdee International Software Group, a leading provider of cloud-based enterprise management software in China, reported a narrower loss in 2023, driven by revenue growth. The company's total revenue for the reporting period reached approximately RMB2,870 million, representing an increase compared to the previous year.

Annual Recurring Revenue (ARR) Surge

Kingdee Cloud subscription services experienced significant growth, with the Annual Recurring Revenue (ARR) increasing by 33.1% year-over-year to approximately RMB286 million. This growth underscores the increasing adoption of the company's cloud-based solutions.

Cloud Galaxy Revenue Resilience

Kingdee Cloud Galaxy, the company's enterprise resource planning (ERP) solution, continued to maintain steady growth during the reporting period. The revenue for this segment reached approximately RMB486.6 billion, representing a significant contribution to the company's overall financial performance.

Conclusion

Kingdee International Software's improved earnings in 2023 demonstrate the company's resilience and growth potential. The strong revenue performance, particularly in its cloud-based offerings, positions Kingdee for continued success in the evolving software landscape.