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Kingdee International Announces 2022 Interim Result

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Kingdee International Software Group Company Limited (“Kingdee International”, “Kingdee” or the “Company” and its subsidiaries, collectively referred to as the “Group”; Stock Code: 0268.HK) today announced its interim results as of 30 June 2022 (the “Reporting Period”). During the Reporting Period, the Group continued to focus on subscription-based cloud services, powering a high quality growth of cloud service business. During the Reporting Period, cloud service business achieved a revenue growth of 35.5% year-on-year (yoy), accounting for approximately 76.4% of the Group’s total revenue. Annual recurring revenue (ARR) of Kingdee subscription-based cloud services reached approximately RMB1.86 billion, representing a yoy increase of 46.5%, and the contract liabilities related to subscription-based cloud services expanded by 56.0% yoy.

During the Reporting Period, the Group recorded total revenue of approximately RMB2,197 million, representing an increase of approximately 17.3% comparing to 1H2021 (1H2021: RMB1,872 million). Revenue from ERP business decreased by 18.1% yoy. Loss attributable to owners of the Company amounted to RMB356 million for the current period, which was mainly due to increasing investment in research and development of cloud services products, in particular Kingdee Cloud Constellation and HR SaaS, and the adverse impact on the project implementation efficiency caused by the continuation of the COVID-19 pandemic.

Almost 30 years since its inception, Kingdee has provided digital management solutions to more than 7.4 million enterprises. Kingdee has also been well recognized by renowned domestic and international research institutions in 1H2022: 1) the only Chinese enterprise SaaS vendor ranked top-ten market share in Gartner’s 2021 High Productivity aSaaS Platform; 2) ranked No.1 by IDC in China’s aPaaS public cloud market (“China ERP Application Platform-based Cloud Services Market Insights”); 3) selected into Gartner’s China Enterprise Low-Code Application Platform Competitive Landscape, as China’s representative vendor in the enterprise low-code platform.

Large Enterprise – accelerating cooperation with Top 500 Companies, proceeded in building local substitution benchmarks

During the Reporting Period, Kingdee Cloud Cosmic and Constellation recorded RMB284 million in revenue, an increase of 77.6% yoy. Dollar retention ratio remained stable compared to the same period last year. In 1H2022, 476 customers were signed, including 194 new customers, such as Shandong Heavy Industry, China General Technology Group, Minmetals International, Gemdale Corporation, Liugong Group, Guangdong Energy, Chongqing Pharma, etc. In addition, the Company continued to introduce strategic implementation partners and achieved major breakthrough in direct implementation by partners. This initiative was to support Kingdee’s large enterprise business growth plan. Cosmic and Constellation helped 122 enterprise customers to complete local substitution, and supported Huawei, Vanke, China Merchants Group, Wuchan Zhongda, Hesteel Group, Shagang Group and other global top 500 companies to carry out digital management reconstruction.

During the period, Kingdee Cloud Cosmic has received a series of industry recognitions: 1) selected into the “Cloud Native Products Directory” of the ICT Institute, 2) enlisted in the “Key Laboratory of Industrial Big Data Analysis and Integrated Application” of the Ministry of Industry and Information Technology. Moreover, Kingdee Cloud Cosmic was deeply involved in Xinchuang ecosystem, including completing the full stack adaptation with four Xinchuang mainstream technology system and obtaining the “Digital Ecology Compatibility Certification” from the ICT Institute.

Kingdee Cloud Constellation is designed for large enterprise EBC, covering standard applications and features such as finance cloud, supply chain cloud, procurement cloud, marketing cloud, manufacturing cloud, etc. Among them, Constellation HR Cloud, combined with Huawei’s leading global human resources management practice, focuses on the main business key points of human resources management in large Chinese enterprises. It is a global human resources management cloud service application product that satisfies the organizational transformation of the main business of large enterprises and the flexible adjustment of innovative businesses. In addition, financial middle office, EPM (Enterprise Performance Management) and smart finance have prominent differentiation advantages, helping large enterprises to build world-class financial systems and accelerate localization substitution.

Medium Enterprise – expanding the lead, subscription ARR achieved rapid growth of 53% yoy

During the Reporting Period, Kingdee Cloud Galaxy signed more than 300 national and provincial novel elites of SMEs; Newly signed DONG FANG ZHEN XUAN, Zhoushan Boeing, Shanghai Mabwell, Shenzhen Microgate, Digibird, Senba Dptoelectronic, HeyGears, Snapmaker, FACC, Zhongshan Lanju, Joyoung Soymilk & Food, Hong Kong Catalo and other enterprises. Galaxy’s revenue reached RMB786 million in 1H2022 , an increase of 16.1% yoy. Cloud subscription ARR increased by 53% yoy. Dollar retention ratio was 89%. Galaxy’s customer base reached 28,300 customers.

During the Reporting Period, Kingdee Cloud Galaxy improved the business layout of “one rocket, multiple satellites” by launching Kingdee Cloud Galaxy Ultra. Galaxy announced four major growth plans with EXIN, Amazon AWS, Ctrip Travel and Deloitte to accelerate the advancement of Galaxy’s platform and ecosystem strategy. Galaxy also upgraded the Manufacturing Operations Management (MOM) solution and launched special solutions for novel elites of SMEs, further enhancing the competitiveness of “PLM+ERP+MES”. Galaxy launched supply chain control tower, a metrics design platform based on a customizable number of metrics, strengthening its data intelligence services.

Small and Micro Enterprise – strengthening business-finance-tax integrated solutions, continuously improved market share

During the Reporting Period, SME finance cloud business maintained rapid growth of 74.1% yoy. Kingdee Cloud Stellar recorded a revenue increase of 337.7% yoy, and dollar retention ratio was at 72%. Stellar’s customer base reached nearly 20,000. Kingdee Cloud Stellar is positioned to meet the requirements of small commerce business and industrial trade business in growth stage. Stellar kept improving “management + operation” integrated solutions, helping enterprises to realize intelligent financial and tax management, digital and intelligent customer management, online integration, and supply and marketing collaborative integration. It redefined the industry benchmark for business-finance-tax integration. Through persistent product innovation and marketing promotion, the layout of Kingdee SME ecosystem continued to expand, which benefited Kingdee in market share gain.

Ecosystem – Cosmic ISV partners growing rapidly, moved forward in the layout of ecosystem strategy

Kingdee Cloud Cosmic ISV partner ecosystem continued to expand. Over 150 ISV partners developed their products based on Cosmic platform, covering 13 major sectors including intelligent manufacturing, transportation and logistics, wholesale and retail, finance, and life sciences. On strategic partners, Kingdee carried out cooperation with domestic and global consulting and service companies, and reached strategic partnership with Deloitte, Ernst& Young, ShineWing, HAND Enterprise, JGDT, etc. Meanwhile, Kingdee also deepened the collaboration with KPMG, iSoftStone and Chinasoft International. These partnerships formed Kingdee’s implementation service ecosystem, and supported the Company’s large enterprise market strategy. In addition, Kingdee co-built industry solutions with Huawei Cloud, Ali Cloud, Tencent Cloud, Amazon AWS and Meituan to offer comprehensive products on these platforms. Kingdee constantly improved the Xinchuang layout, completing product certifications with over twenty Xinchuang partners.

“Xu Shaochun WeChat Public Account” – listening to customers and improving Kingdee customer success ecosystem

Pioneering in the enterprise service industry, Xu Shaochun WeChat Public Account established the culture of “wholeheartedly serving the enterprise customers” through the entire user journey. In the first half of 2022, the Public Account received over 12,000 inquiries and consultations. Through optimizing the workflow, the Account enabled Kingdee’s R&D team directly accessing to customer feedbacks, in order to promote product improvement. Going forward, Kingdee’s customer success would take the Account as leverage for improving customer lifecycle experience.

Xu Shaochun, Chairman of the Board and CEO of Kingdee Group, noted that in the first half of 2022, the repetition of COVID-19 breakout in China and uncertainties in global economic recovery post many challenges. The challenging environment pushed for the acceleration of digital transformation to pursue high quality growth across different industries and verticals. Kingdee will play a major role in the enterprise digital transformation by offering the new generation composable EBC digital platform and delivering agile innovation capabilities to resolve challenges, and realizing “data-driven enterprise, resilient growth.” Looking forward, the Group will adhere to the Kingdee philosophy of “Customer foremost, long-term adherence to professionalism; Strivers oriented, long-term adherence to pure and visionary minds,” fighting alongside customers. On the basis of consistent self-innovation and advancing technology, Kingdee will promote open and win-win with ecosystem partners. Kingdee will continue to execute the “Platform + Finance & HR & Tax + Ecosystem” strategy and remain unswervingly committed to cloud subscription model, to achieve the mission of “Creating another Kingdee with the cloud subscription business model.”

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Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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19 hours ago

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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May 10, 2024

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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