Wang Yibo, general manager of the China brand and marketing department at Kingdee Software, a subsidiary of KINGDEE INT'L (00268.HK) +0.070 (+1.184%) Short selling $14.07M; Ratio 25.948% , said Hong Kong has always been a "bridgehead" for the group's internationalisation, and by basing itself in Hong Kong, the group can spread its business to Southeast Asia and other overseas markets. It is reported that the group intends to further expand its international data centre in Singapore in the second half of this year, and will cooperate with Amazon (AMZN.US) 's Amazon AWS.
He Weixi, General Manager of Kingdee Hong Kong, pointed out that Kingdee Hong Kong currently serves more than 3,000 customers. In addition to supporting Chinese enterprises to expand overseas and assisting foreign companies to enter the Chinese market, Kingdee Hong Kong also carries out cross-border business integration for Hong Kong-invested enterprises, mainly covering medium and large-sized enterprises from the financial and retail sectors.
He added that the economic outlook of Hong Kong is not clear, and the growth of many industries has slowed down or even experienced a slight recession, which has affected the company's business and led to a decline in single-customer contribution. Still, Chinese enterprises have also accelerated the establishment of branch offices in Hong Kong in the wake of the epidemic, and the size of the customer base has continued to grow. The difficult business environment also prompted customers to accelerate digital transformation and look for new development opportunities, which led to the increase of KINGDEE's market share in Hong Kong.
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