Kingdee International Software Group Co., Ltd. · HKEX:268

Kingdee International Software — FY2025 Earnings Presentation

29 slides from Kingdee International Software's earnings presentation, Mar 18, 2026

Slide 1: FY2025 Annual Results
Kingdee International Software Group FY2025 Annual Results Stock code: 268.HK 18 March 2026
Slide 2: 2025 Financial Highlights
2025 Financial Highlights Sustained Resilient Revenue Growth: Subscription ARR Surpasses RMB4 Billion, Leading China SaaS Industry (RMB million) 7,006 6,256 4,090 +12.0% 3,556 3,430 2,941 +19.2% +20.9% 2024 2025 2024 2025 2024 2025 Group Revenues Subscription Revenues Subscription ARR 2
Slide 3: 2025 Financial Highlights: Operating Leverage
2025 Financial Highlights Continued Operating Leverage Release from Subscription Business, Driving Steady Improvement in Operating Quality 67.1% 65.8% 96.0% 96.5% 42.5% 38.9% 29.3% 21.3% 22.6% 22.5% 12.3% 9.2% Gross 毛利率 margin S&M ratio 营销费用率 G&A ratio 管理费用率 R&D ratio 研发费用率实施、咨询运维服务及其他 Implementati
Slide 4: 2025 Financial Highlights: Profitability Inflection
2025 Financial Highlights Subscription Model Proven in China: Profitability Inflection Point Passed (RMB million) 93 232 -142 -10 2024 2025 2024 2025 Net Profit Attributable to Adjusted Net Profit Equity Owners (Non-IFRS) 4
Slide 5: Historic Operating Cash Flow
2025 Financial Highlights Historic Operating Cash Flow Proves SaaS Sustainability in China. (RMB million) 1,097 963 +17.6% 141 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 5
Slide 6: Contract Liabilities, Revenue Per Capita, Cash Reserves
2025 Financial Highlights Industry-Leading Contract Liabilities, Rising Revenue Per Capita, Ample Cash Reserves (RMB million) Contract Liabilities 2020-2025 CAGR： Group Net Cash 4,386 +28.0% ~5 billion Revenue Per Capita 997 118 168 600k +17.0% 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 2024
Slide 7: Key Product Line Operating Updates
2025 Financial Highlights Key Product Line Operating Updates Kingdee Cloud Cosmic & Kingdee Cloud Galaxy SMB Products Kingdee Cloud Constellation Revenue Subscription Revenue Subscription Revenue 1,940million +28.0% 1,520million +19.3% 1,140million +22.7% Kingdee Cloud Stellar / Jingdou Cloud Of whi
Slide 8: Kingdee, for Advanced Management in the AI Era
Kingdee, for Advanced Management in the AI Era AI Model Embodied AI Aerospace & Satellite SOEs Computing Power AI Natives MNCs Private Enterprise 8
Slide 9: Scaling Global Presence, Newly Signed Customers
Scaling Global Presence, Newly Signed 463 Customers Local Service Networks Across Middle East & Southeast Asia Global Operations Shenzhen Chinese Going Overseas Qatar Vietnam Thailand Singapore Malaysia Indonesia Oversea Locals 9
Slide 10: 10
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Slide 11: Six Irreplaceable Enterprise Resources in the AI Era
Six Irreplaceable Enterprise Resources in the AI Era 01 02 03 04 05 06 Deep Industry & Digital Assets as High Quality Efficient Agent Engineering Customer Trust & Retention Ecosystem & Scalability Scenario Insight AI Foundation Enterprise Datasets • Deep Semantic • Multi-Domain • Powerful Components
Slide 12: Launch of XiaoK and Agents in 2025
Launch of XiaoK and 20 Agents in 2025 小K 智能体 XiaoK Leave it to XiaoK, ~400k Registered Users Everything's OK Agents 35 Enterprise Subscription Clients Gross Profit Analysis Agent Financial Analysis Agent Procurement Risk Control Agent Maximize product profitability (High-quality reports in 10 mins)
Slide 13: Kingdee AI Adoption: RMB 356mn in Signed Contracts
Kingdee AI Adoption: RMB 356mn in Signed Contracts HR AI Assistant Travel AI Agent Agent Dev Platform Self-Service Query Time 5min→3sec Travel request process efficiency Knowledge retrieval efficiency 100% accuracy improved by 23.5% increased by 60% AI Audit 8D Quality Mgmt Agent Boss Assistant Audi
Slide 14: Shuanghui — Global Leader in Meat Processing
Shuanghui — Global Leader in Meat Processing National Key Leading Enterprise in Agricultural Industrialization Comprehensive End-to-End ERP Upgrade X Co-Create Enterprise Management AI 14
Slide 15: Strategic Priorities
Reshape growth through AI, 2026 Reshape profitability through quality, Strategic Reshape the future through globalization, Priorities Comprehensively enhance organizational vitality. 15
Slide 16: Kingdee AI Product Portfolio
Kingdee AI Product Portfolio AI Native AI+SaaS & Others 套件 …… 16
Slide 17: Kingdee AI Suite Product Blueprint
Kingdee AI Suite Product Blueprint Markets Xiao K (KClaw) PC Mobile Infotainment En BCI XR Robot AgentHub｜ ChatBot ｜ Workspace ｜ Enterprise Search｜ GenUI Finance Agents HR Agents SCM Agents Marketing Agents R&D Agents Vertical Agents … Markets Agents/Skills Agents Skills Publishing Agent Framework |
Slide 18: Kingdee R&D Accelerating AI Transformation
Kingdee R&D Accelerating AI Transformation AI-Empowered R&D 2025 2026 Target AI Code Increased Per-Capita R&D Capability Leap: Assistance Output From AI-Assisted Coding to AI End-to-End Coding AI Code Faster Requirement Review Response AI Generated Code as High as 100% in Certain AI Test Case Genera
Slide 19: 2026 Outlook
2026 Outlook AI and Globalization Driving Growth • Double-Digit Group Revenue Growth: Kingdee AI Suite revenue to exceed RMB1 billion. - Surge in AI-native businesses: Agent-as-a-Service, AI Units consumption, API & Skills. • Subscription Revenue: Maintain steady growth of ~20%. • Global Expansion:
Slide 20: Kingdee AI Transformation 2030 Target
Kingdee AI Transformation 2030 Target Build another Kingdee with AI AI Native 50% SaaS AI+SaaS 50% 20
Slide 21: Appendix
Appendix 21
Slide 22: P&L Statement
P&L Statement Revenue 7,006,036 6,255,684 12.0% Cost of Good Sold (2,301,828) (2,185,012) 5.3% Gross Profit 4,704,208 4,070,672 15.6% Selling & Marketing Expenses (2,725,804) (2,502,852) 8.9% G&A Expenses (647,058) (538,687) 20.1% Net Impairment Loss on Financial Assets (42,696) (40,890) 4.4% R&D Ex
Slide 23: Revenue by Business Segments
Revenue by Business Segments As % of As % of （RMB‘000） 2025 2024 YoY Change Revenue Revenue Subscription & Software 4,230,337 60.4% 3,621,024 57.9% 16.8% Subscription 3,556,048 50.8% 2,940,529 47.0% 20.9% Software 674,289 9.6% 680,495 10.9% -0.9% Implementation, Consulting, Maintenance 2,775,699 39.
Slide 24: Research and Development Expenses
Research and Development Expenses (RMB‘000) 2025 2024 YoY Change Staff Costs 1,332,203 1,435,609 -7.2% Fixed Costs 40,025 35,808 11.8% Professional Service Fees 32,654 22,625 44.3% Travel Expenses 9,568 10,597 -9.7% Others 10,318 11,284 -8.6% Total R&D Expenditure 1,424,768 1,515,923 -6.0% Less: Cap
Slide 25: Selling and Marketing Expenses
Selling and Marketing Expenses (RMB‘000) 2025 2024 YoY Change Staff Costs 1,469,013 1,447,746 1.5% Sales Promotion & Marketing 1,079,740 874,793 23.4% Activity Expenses Fixed Costs 82,919 85,451 -3.0% Travel Expenses 75,195 75,692 -0.7% Project Cooperation Fees 11,052 10,864 1.7% Others 7,885 8,306
Slide 26: General and Administrative Expenses
General and Administrative Expenses (RMB‘000) 2025 2024 YoY Change Staff Costs 454,168 370,130 22.7% Fixed Costs 126,766 101,008 25.5% Professional Service Fees 48,153 49,336 -2.4% Recruitment & Training Expenses 4,228 5,456 -22.5% Travel Expenses 8,502 7,746 9.8% Others 5,241 5,011 4.6% Total 647,0
Slide 27: Other Income and Gains – Net
Other Income and Gains – Net (RMB‘000) 2025 2024 YoY Change VAT Refund and Research Project 163,203 230,781 -29.3% Income Rental Income 92,728 58,995 57.2% Gain Recognized onInvestment 16,099 4,055 297.0% Income Others (28,853) (47,733) 39.6% Total 243,177 246,098 -1.2% 27
Slide 28: Adjusted Net Profit (a Non-IFRS measure)
Adjusted Net Profit（a Non-IFRS measure） (RMB‘000) 2025 2024 YoY Change Profit/Loss Attributable to Equity 92,914 (142,068) NA Holders of the Company Share-Based Compensation 105,121 85,169 23.4% Share of Profit/Loss of Associates (17,549) (11,745) 49.4% Amortization of Intangible Assets 14,398 9,770

Kingdee International Software Group — FY2025 Earnings Presentation on 6ix

Kingdee International Software — FY2025 Earnings Presentation

Slide 1: FY2025 Annual Results

Slide 2: 2025 Financial Highlights

Slide 3: 2025 Financial Highlights: Operating Leverage

Slide 4: 2025 Financial Highlights: Profitability Inflection

Slide 5: Historic Operating Cash Flow

Slide 6: Contract Liabilities, Revenue Per Capita, Cash Reserves

Slide 7: Key Product Line Operating Updates

Slide 8: Kingdee, for Advanced Management in the AI Era

Slide 9: Scaling Global Presence, Newly Signed Customers

Slide 10: 10

Slide 11: Six Irreplaceable Enterprise Resources in the AI Era

Slide 12: Launch of XiaoK and Agents in 2025

Slide 13: Kingdee AI Adoption: RMB 356mn in Signed Contracts

Slide 14: Shuanghui — Global Leader in Meat Processing

Slide 15: Strategic Priorities

Slide 16: Kingdee AI Product Portfolio

Slide 17: Kingdee AI Suite Product Blueprint

Slide 18: Kingdee R&D Accelerating AI Transformation

Slide 19: 2026 Outlook

Slide 20: Kingdee AI Transformation 2030 Target

Slide 21: Appendix

Slide 22: P&L Statement

Slide 23: Revenue by Business Segments

Slide 24: Research and Development Expenses

Slide 25: Selling and Marketing Expenses

Slide 26: General and Administrative Expenses

Slide 27: Other Income and Gains – Net

Slide 28: Adjusted Net Profit (a Non-IFRS measure)

Slide 29: Thank You