Kingdee Increases Strategic Investment in Fxiaoke Technology for Optimistic Outlook on CRM

SHENZHEN, China, Nov. 24, 2020 /PRNewswire/ -- IDC expected that the CRM SaaS market will maintain its growth momentum. By 2023, the traditional deployment model of CRM (On-premise) will be mostly replaced by CRM SaaS. Sales Force Automation (SFA) in SaaS market represents the largest segment in the market. As enterprises continue to promote digital transformation, the marketing SaaS market will grow the fastest in the future, and its share will be further expanded.

With its unique CRM product capabilities, Fxiaoke Technology has been continuously growing at a high speed in the CRM field. Kingdee is optimistic about the CRM prospects. At the same time, Kingdee recognizes Fxiaoke Technology's leading position in CRM, strong innovation and execution in the industry. Therefore, Kingdee decided to continue to increase strategic investment in Fxiaoke.

Robert Xu, Chairman and CEO of Kingdee International Software Group Limited ("Kingdee International" or "the Company", stock code: 00268.HK) said, enterprise digitalization was transforming from ERP to EBC (Enterprise Business Capability). Compared with traditional ERP, EBC showed its unique capabilities in 6 areas: Customer Experience Platform, Ecosystem Platform, Internet of Things Platform, Information System Platform and Data Analysis Platform. Kingdee International has always been optimistic about CRM prospects being an important support for customer-oriented experience platform. Fxiaoke Technology is an important part of Kingdee's cloud ecosystem to build enterprise EBC. Kingdee will provide full support to Fxiaoke for its independent growth and collaborative development with all resources from the Group, becoming a high-value innovative company.

Felix Luo, Founder and CEO of Fxiaoke Technology said, despite the COVID-19 outbreak in 2020, it still grew and expanded extensively. It is highly recognized by large enterprise customers such as Digital China, JD Cloud, Liugong Group, Megvii Technology Group, etc. Success of fund raising fully reflects the confidence of investment institutions in the SaaS industry and Fxiaoke Technology. Fxiaoke will continue to strengthen the construction of products and platform capabilities, accelerate the expansion of market and channels, improve the sales business solutions and service capabilities wile keeping its industry characteristics, and help the digital operation management reform of Chinese enterprises.

As a leading provider of enterprise cloud services, Kingdee continues to invest in enterprise cloud services and platforms. According to the latest data from IDC, an international authoritative analysis agency, Kingdee held the largest market share in SaaS ERM for 4 consecutive years. Robert Xu said, "The foundation of cloud business is to build an industry platform ecosystem based on customer success, sustainable development and high value services in long term. Although COVID-19 epidemic has impacted all aspects of our life, we have full confidence in the long-term development of enterprise cloud service industry. While maintaining the rapid development of core cloud business, Kingdee will establish a collaborative and win-win ecosystem with an open attitude and share values with customers and ecosystem partners."

About Kingdee

Kingdee International Software Group Company Limited ("Kingdee International" or "Kingdee") was established in 1993. It is listed on the Main Board of the Hong Kong Stock Exchange (stock code: 0268.HK) and headquartered in Shenzhen, the PRC. Adhering to the core values of "Acting in all Conscience, with Integrity and Righteousness", the Company is committed to helping businesses achieve their growth targets and let the sun shine on every company through dedicated services. It strives to provide them with the most trusted enterprise service platform.

Through persistent efforts to explore China's Cloud enterprise service market, Kingdee has retained the largest share in the enterprise application software sector for fast-growing enterprises for 16 consecutive years according to IDC, and has grasped the biggest share in the enterprise-grade SaaS Cloud services industry in China for the second years, held the largest market share in SaaS ERM (Cloud ERP) and Financial Cloud for four consecutive years. Kingdee is currently the only SaaS cloud service provider of Chinese enterprises selected into Gartner's market guide.

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SOURCE Kingdee International Software Group Co., Ltd.