金蝶国际二零二五年年报

Corporate Introduction Kingdee International Software Group Company Limited ("Kingdee International" or "Kingdee") was founded in 1993 and is listed on the Main Board ofthe Hong Kong Stock Exchange (stock code: 268.HK). Headquartered in Shenzhen, China, Kingdee is a globally leading and China's No. 1 enterprisemanagement cloud SaaS company. Guided by its core values of "Act with conscience, walk the righteous path, lead with benevolence" and its missionto "Empower every enterprise to achieve phenomenal success," Kingdee is committed to becoming "the most trustworthy AI platform for enterprisemanagement." Over more than 30 years, Kingdee has provided products and services to over 7.4 million enterprises and government organizationsworldwide, and is the common choice for numerous Fortune 500 companies and "Little Giant" enterprises. Kingdee has received extensive recognition fromrenowned domestic and international research institutions in cloud services and AI: according to IDC and Gartner data, Kingdee has maintained the No. 1market share in China's enterprise resource management cloud and aPaaS markets for multiple years, and is the only enterprise management vendor amongthe Top 10 Generative AI Model (Gen AI model) vendors in the China market. 1993268.HKSaaSAI30740500AIIDCGartneraPaaSAIGen AImodelTOP10 Contents 2Corporate Information5Financial Highlights7Five Year Financial Summary8Chairman’s Statement11Business Review and Outlook16Management Discussion and Analysis28Directors and Senior Management33Report of Directors58Corporate Governance Report83Independent Auditor’s Report91Consolidated Statement of Financial Position93Consolidated Income Statement94Consolidated Statement of Comprehensive Income95Consolidated Statement of Changes in Equity97Consolidated Cash Flow Statement98Notes to the Consolidated Financial Statements CORPORATE INFORMATION EXECUTIVE DIRECTORS Mr. Xu Shao Chun, Chairman of the Board and Chief Executive OfficerMr. Lin Bo, Chief Financial Officer NON-EXECUTIVE DIRECTORSMs. Dong Ming ZhuMr. Gary Clark Biddle Gary Clark Biddle Katherine Rong Xin INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. Zhou Jun XiangMs. Katherine Rong XinMr. Bo Lian Ming CHIEF FINANCIAL OFFICERMr. Lin Bo COMPANY SECRETARYMr. Siu Man Ho, Simon Gary Clark Biddle AUDIT COMMITTEEMr. Zhou Jun Xiang (Chairman)Mr. Gary Clark BiddleMr. Bo Lian Ming Katherine Rong Xin REMUNERATION COMMITTEE Mr. Bo Lian Ming (Chairman)Mr. Xu Shao ChunMs. Katherine Rong Xin Katherine Rong Xin NOMINATION COMMITTEEMr. Xu Shao Chun (Chairman)Ms. Katherine Rong XinMr. Bo Lian Ming STRATEGY AND SUSTAINABLE DEVELOPMENT COMMITTEE Mr. Xu Shao Chun (Chairman)Mr. Lin BoMs. Dong Ming ZhuMr. Zhou Jun Xiang AUTHORIZED REPRESENTATIVESMr. Xu Shao ChunMr. Lin Bo AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22nd Floor, Prince’s BuildingCentral, Hong Kong CORPORATE INFORMATION LEGAL COUNSELHong Kong:CFN Lawyers LLP27/F, Neich Tower128 Gloucester RoadWan Chai, Hong Kong 12827 Cricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Cayman Islands: Conyers Dill & PearmanCricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands PRINCIPAL BANKS China Merchants BankIndustrial and Commercial Bank of ChinaPing An BankBank of ChinaChina Minsheng Banking Corp., Ltd.Industrial BankChina Construction Bank Hong Kong:The Hongkong and Shanghai Banking Corporation Limited Cricket Square, Hutchins Drive,PO Box 2681Grand Cayman KY1-1111Cayman Islands REGISTERED OFFICECricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN THE PRC 2 Kingdee Software ParkNo.2 Kejinan 12 RoadSouth DistrictHi-Tech Industrial ParkNanshan DistrictShenzhen Guangdong ProvinceThe PRC 9525A PRINCIPAL PLACE OF BUSINESS IN HONG KONG 25A, United Centre, 95 QueenswayAdmiralty, Hong Kong COMPANY WEBSITEwww.kingdee.com www.kingdee.com CORPORATE INFORMATION PRINCIPAL SHARE REGISTRAR Conyers Trust Company (Cayman) Limited,Cricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR 18317M Computershare Hong Kong Investor Services Limited17M Floor, Hopewell Centre183 Queen’s Road EastHong Kong 999 PUBLIC RELATIONS Wonderful Sky Financial Group Holdings Limited9/F, The Center99 Queen's Road Central, CentralHong Kong 268 MAIN BOARD STOCK CODE FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS FIVE YEAR FINANCIAL SUMMARY CHAIRMAN’S STATEMENT 2025 marks a pivotal turning point in Kingdee’s history. Thesubscription transition has achieved a high-quality turnaroundto profitability, with Net Dollar Retention (NDR) reaching a three-year peak and net operating cash flow hitting an all-time high.These results definitively validate the success of Kingdee’s cloudtr