Kingdee Chairman and CEO Robert Xu (center) celebrates with colleagues on March 17 in Hong Kong after the company's fiscal year 2024 annual results announcement. CHINA DAILY
For Ritar International Group headquartered in Shenzhen, Guangdong province, with a global workforce of over 6,500, managing staff members scattered across various geographies and locales can be a difficult job.
Ritar CEO Hu Weibin is now very relieved, as with the help of Kingdee — a globally renowned SaaS (Software as a Service) company serving over 7.4 million customers worldwide — he can use a management system to obtain comprehensive data in real time and deploy guidance in the cloud.
Ritar, set up in 2002, maintains eight significant production bases across China and Vietnam, alongside 11 international storage and logistics centers, with sales representatives in many countries.
"With a unified platform deployed in the cloud, the Kingdee CG (Cloud Galaxy) can let us access key data and business processes in our Vietnam factory, Shenzhen headquarters and Hengyang plant anytime and anywhere," Hu said, noting that this has boosted Ritar's internationalization in delivering inherently safe energy storage solutions across the globe.
"The Kingdee CG also integrates our multiple departments and business processes covering procurement, sales, production, inventory and finance, reducing operational costs and improving the accuracy and efficiency of our decision-making," added Hu.
Founded in 1993, Chinese mainland company Kingdee is listed on the main board in Hong Kong. It boasts solutions used in 172 countries and regions worldwide.
Kingdee SaaS solutions support 42 languages and they help enable customers reach overseas through digital enterprise management systems. Kingdee Chairman and CEO Robert Xu said: "We are confident in our ability to deliver professional enterprise digital solutions."
Xu stressed that by leveraging its industry expertise and the management models of China's leading enterprises, Kingdee can provide end-to-end digital solutions encompassing management of financial functions, supply chain optimization, and production operations to local businesses in markets participating in the Belt and Road Initiative.
To help Chinese enterprises "go global", the Kingdee CG platform has launched localization packages for Chinese enterprises operating in Singapore, Vietnam, Thailand, Indonesia, Malaysia, and other countries. It has garnered contracts with 340 such enterprises for overseas operations.
For the year ended Dec 31, 2024, Kingdee reported total revenue of about 6.256 billion yuan ($861 million), reflecting a year-on-year increase of about 10.2 percent, with notable performance in the field of cloud services. In the same period, operating cash flow was about 934 million yuan, representing an increase of about 42.9 percent year-on-year.
Looking ahead, Xu stressed that in the rest of this year, Kingdee will start its full transformation into an enterprise management AI company, focusing on enterprise management, helping every customer worldwide to leverage new quality productive forces by providing a powerful AI platform and rich AI agents.
To boost its overseas operations, Kingdee opened its Singapore branch and data center on Nov 8,2024. It also opened a regional headquarters in Qatar on Feb 25 this year to widen its markets in the Middle East and North Africa. In December 2023, Kingdee and the Qatar Investment Authority announced an agreement, in which QIA planned to invest around $200 million in Kingdee.
"The establishment of Kingdee Qatar represents a strategic milestone in Kingdee's commitment to delivering localized services from Qatar Free Zones to global clients," Xu said, adding that Kingdee is guided by the principle of "think globally, operate locally".
Kingdee will harness regional business acumen with technological strengths, and integrate AI-driven digital technologies and management expertise to provide comprehensive one-stop solutions, according to Xu.
Mohammed Saif Al-Sowaidi, CEO of QIA, hailed Kingdee's accomplishments, noting that QIA "recognizes the company's expertise in enterprise digitalization and cloud services in China. We are confident that Kingdee will succeed in their expansion and will bring a valuable offering to the Middle East market."
