Kingdee International Announces FY2023 Results - Continuous high-quality growth for cloud services business
KINGDEE INTL SFTW UNS/ADR (KGDEY)
NASDAQ:AMEX Investor Relations:
kingdee.com.hk/en/about/investor-relations
Company Research
Source: PR Newswire
HONG KONG, March 19, 2024 /PRNewswire/ -- Kingdee International Software Group Co., Ltd. ("Kingdee International", "Kingdee" or the "Company", together with its subsidiaries collectively referred to as the "Group"; Stock Code: 268.HK) is pleased to announce the audited consolidated results of the Company for the year ended 31 December 2023 (the "Reporting Period"). During the Reporting Period, the Group recorded total revenue of RMB5,679 million, representing an increase of approximately 16.7% (year-on-year). The Group continued to advance on the transformation of cloud subscription services, with the Cloud Servies revenue increasing by 21.3% yoy. Cloud Services accounted for 79.3% of the Group revenue. The Annual Recurring Revenue (ARR) of Kingdee Cloud subscription services increased 33.1% yoy to approximately RMB2.86 billion. Loss attributable to owners of the Group was approximately RMB210 million, representing a decrease of approximately 46.1% yoy. Net cash flow from operating ac
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