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"We are confident that we will turn losses into profits next year. The losses in the past two years were 'strategic losses'. The golden period of Kingdee's development has arrived." On August 16, Kingdee International (HK00268, share price HK$5.84, market value of HK$20.94 billion, also referred to as the Group in this article) held a 2024 interim results conference. Xu Shaochun, Chairman and CEO of the Group, said this at the meeting.

Kingdee International disclosed its 2024 interim financial report on the evening of August 15, showing that in the first half of the year, Kingdee International recorded revenue of approximately RMB 2.87 billion (RMB, the same below), a year-on-year increase of 11.9%. Among them, the cloud service business increased by 17.2% year-on-year to RMB 2.39 billion, accounting for more than 80% of the company's revenue. In the first half of the year, the company's equity holders' current loss was approximately RMB 218 million, a year-on-year reduction of 23.2%.

On the morning of the 16th, a reporter from the Daily Economic News attended the Kingdee International 2024 mid-year performance conference. Lin Bo, the group's executive director and chief financial officer, also emphasized that the company's expectation of breaking even in 2025 has not changed. It is revealed that Kingdee International's annual revenue is expected to maintain double-digit growth this year.

In the past two years, Chinese cloud vendors have accelerated their overseas expansion, and Kingdee International has also been actively expanding its international market. On the morning of August 16, Zhang Yong, president of Kingdee Group, said in an interview with the National Business Daily and other media that Southeast Asia is a key overseas market for Kingdee International in 2024. Currently, the Singapore branch has been established and has generated orders.