HK Stock Market Move | KINGDEE INT'L (00268) rises more than 4% against the market, with annual recurring revenue from subscription services in the first three quarters increasing by approximately 18% year-on-year.

KINGDEE INT'L (00268) rose more than 4% against the market, rising by 4.3% to HK$15.05 as of the time of writing, with a trading volume of HK$230 million. In terms of news, KINGDEE INT'L announced that as of September 30, the annual recurring revenue (ARR) of its Kingdee Cloud subscription service reached approximately RMB 3.86 billion, an increase of 18% year-on-year. During the period, the net renewal rates of Kingdee Cloud's products such as Cloud Cangqiong & Xinghan, Cloud Xingkong, Cloud Xingchen, and Kingdee Jingdouyun were 105%, 95%, 93%, and 88% respectively. The group also signed new clients such as Chin Hin Group Berhad, BAIC Group, Yuchai Group, Xingganglian, Bloomage Biotechnology Corporation Limited, and Strongbrain Technology. Of note, on August 13, the company signed an ERP project construction agreement with Malaysia's Chin Hin Group Berhad, utilizing products such as Xinghan and AI quotation Agent. This cooperation signifies the company's successful expansion from "following Chinese enterprises going global" to "directly engaging with local enterprises", and is expected to set a benchmark for regional replication.