Yonyou Network Technology Announces Interim Results for the First Half of 2021, Cloud Services Revenue Up 100.7% Year-on-Year
(“Yonyou” or the “Company”, together with its subsidiaries, is referred to as the “Yonyou”, Stock Code: 600588.SH) announced its interim results for the period ended 30 June 2021. Gross revenue amounted to RMB 3.177 billion (USD$490million), up 7.7% year-on-year. Revenue from cloud services amounted to RMB 1.506 billion (USD$232million), up 100.7% year-on-year.
Steady and Fast Growth in Cloud Services Revenue
Today, a great number of leaders in different industries have chosen Yonyou BIP as their platform for digital transformation and business innovation. During the Period, Yonyou Network Technology signed new contracts with enterprises including China National Nuclear Corporation, China Poly Group, Beijing Shenzhou Aerospace Software Technology Co., Ltd, China National Chemical Corporation, China National Gold Group Corporation, Overseas Chinese Town Enterprises, China Traditional Chinese Medicine Holdings Co., Ltd, and SK Jewellery Pte. Ltd. Meanwhile, the renewal rate of Yonyou’s cloud service relatively increased, up to 94.53% for large enterprises, 71.38% for mid-size enterprises and 79.86% for small and micro enterprises.
Gain Advantages of Platform and Ecosystem, Join Hands with Partners to Grow Together
Market research reports have shown that Yonyou’s market presence continues to increase. In IDC’s “Market Insights: ERP Application Platform-based Cloud Services in China,” Yonyou ranked first in China’s application platform-based cloud services market with market share of 13.9%; in Gartner’s “Market Share: Enterprise Application Software as a Service, Worldwide, 2020,” Yonyou ranked first in ERP SaaS market of APAC region; and in CCID Consulting’s “China’s Cloud Computing Services Market 2020-2021”, Yonyou ranked first in China’s SaaS market.
During the Period, Yonyou expanded the ecosystem strategy of “integration” and released five ecosystem plans. Yonyou also announced a RMB 2 billion (USD $308 million) investment fund to accelerate the integration and development of BIP ecosystem, and continuously develop, innovate and thrive with business partners.
Yonyou is deepening the strategic cooperation with leading enterprises such as Huawei, AliCloud, Industrial and Commercial Bank of China, and China Unicom. Through partnerships in the ecosystem, Yonyou aims to build a stronger brand, delivering more innovative services and products to customers.
Increased Investment in R&D to Foster Indigenous Innovation
Yonyou Network Technology continued to increase its investment in research and development. During the Period, Yonyou invested RMB 954 million (USD $147million) in R&D, an increase of 38.9% year-on-year, and its R&D revenue amounted to 30.0%, creating new breakthroughs in core cloud products and services.
Among them, Yonyou BIP uses the same technology platform, the same coding and the same platform to meet customers needs to deploy differently on public cloud, private cloud and dedicated
Yonyou will keep on enhancing the capability of indigenous innovation, and actively seek for indigenous innovation in enterprise software and cloud services. Under the new economic model, the power of digital transformation and business innovation towards the upgrade of enterprises and society has never been stronger. Yonyou Network Technology will continue to lead the enterprise cloud services market, to boost the development of cloud services, to provide customers with greater value, to help industries realize their full potential, and to make the society sustainable.
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