Kingdee’s development epitomises the reform and opening-up of Shenzhen and the development of Chinese corporate management
From freeing financial staff 26 years ago from manual calculations and drudgery, to demolishing computers, servers, offices and even ERP systems,
With old technologies constantly being replaced by new ones, Kingdee has remained committed to becoming a company that dares to take on the responsibilities of the times. Over the past 26 years, Kingdee has strived to become a software empire that helps large numbers of Chinese enterprises become stronger and expand their business overseas, contributing to the country’s economic development. Always keen on exploring the infinite possibilities of the future, Kingdee and its 6.6 million customers have together helped China realise its dreams, of conquering space, creating a high-speed rail network, and becoming a manufacturing and education leader. It has been a powerful force in realising the national vision.
In July 1991, Kingdee founder Xu Shaochun established Shenzhen Aipu Computer Technology Co., Ltd. In November of that year, Mr. Xu independently developed Aipu Computer Accounting System V1.0, which passed an assessment conducted by Shenzhen’s finance bureau. The software provided technological support to Shenzhen in its effort to promote the computerisation of accounting systems in the city, and helped break the dependence of foreign enterprises on imported financial management software.
Mr. Xu founded Kingdee in hopes that its products could trickle down to financial personnel and help liberate them from the drudgery of financial work. The “-dee” of the name Kingdee means “butterfly.” The name is derived from the lyrics of “Sinian (Longing),” a Mao A’min song: “Where do you come from, my friend? You are like a butterfly flying into my window.”
Kingdee software became popular across China. With great passion and boldness, Kingdee unveiled the V3.0 version of its financial software, showcasing its strength in this industry for the first time. “The sea of accounting is boundless, but Kingdee is the shore,” said Professor Yang Jiwan, a renowned accounting expert and a member of the Chinese People’s Political Consultative Conference Standing Committee, in a homily.
Kingdee unveiled the Kingdee financial software for Windows 1.0 version, bringing accounting platforms to a new frontier. Kingdee was among the first software makers to introduce financial software based on the Windows platform, an efficient and user friendly operating system, helping 12 million financial personnel do away with manual tasks.
Wang Guangying, vice chairman of the National People’s Congress Standing Committee, said “Shenzhen-based Kingdee is at the forefront of reform.”
In 1996, Kingdee released the Kingdee financial software V2.51 for Windows, the first Windows-based financial software in China. The China Software Testing Center confirmed the software as the country’s first robust financial software for Windows.
In 1997, Kingdee rolled out 32-bit decision-support financial software, the first such product in the domestic market. The software received the highest score in an assessment of domestic-made Windows-based financial software, prompting a historic leap from accounting-based to management-based financial software in China, and launching the domestic decision-support financial software industry into a new era.
In May 1998, Kingdee received an investment of RMB20 million from IDG as venture capital, making it the first domestic financial software maker to bring in venture capital, and officially announced its entry into the enterprise management software market.
Kingdee donated Kingdee products worth RMB10 million to the Ministry of Education and 50 prominent Chinese universities including Peking University, Tsinghua University and Fudan University. In the following decades, Kingdee remained committed to helping the country cultivate grassroots software talent.
In 1999, Kingdee released Kingdee K/3, the country’s first Internet-based ERP with a three-tier structure. The software was included in the national-level torch project and appeared at the first China Hi-Tech Fair. Until today, Kingdee K/3 is still very popular among Chinese enterprises.
Information became an important strategic resource in achieving corporate development in the wave of globalisation and informatisation. Companies found it imperative to obtain information in a timely, comprehensive and accurate manner, given pressures from global competition. As a pioneer in the ERP market, Kingdee conveyed advanced management ideas to enterprises via its ERP products, and helped Chinese firms tackle challenges arising from economic globalisation.
Hong Kong was returned to China in 1997. With the city becoming a new bridgehead, its return had a profound impact on the domestic capital market, IT industry and the wider business community.
Kingdee invested heavily in the establishment of APUSIC, a software company focused on the research, development and sale of middleware products. Its entry into the middleware market helped strengthen Kingdee’s core competitiveness as a leader in enterprise management software and e-commerce solutions. APUSIC mainly provides web-enabled application servers utilising J2EE technology. They were the first J2EE middleware products with Chinese-owned intellectual property offered by a domestic software maker.
In 2000, Kingdee President Xu Shaochun met with Microsoft President Steve Ballmer. Kingdee and Microsoft entered into a platinum partnership, and Kingdee 2000 and K/3 systems became the world’s first application software that could be successfully migrated to Windows 2000 and SQL Server 2000. With Kingdee becoming the first Chinese financial and enterprise management software maker to pass the Windows 2000 application compatibility testing, Kingdee 2000 and K/3 systems would develop into excellent Windows 2000-based enterprise distributed application solutions, thanks to their application of advanced network technologies.
In 2000, Kanba.com, the first professional business community website in China designed to meet the wealth management needs of Chinese business executives, officially went online in Beijing.
Kingdee listed on the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong in 2001 (stock code: 8133), making it the first domestic software company to list overseas.
Kingdee acquired Beijing Case Software Technology, consolidating its leading position in the domestic ERP market
Kingdee supported education and gave back to society, donating money to Baisha village, Yuanjiang, to build the Kingdee Hope Primary School.
In 2002, Kingdee donated Kingdee K/3 ERP software worth RMB30 million to Fujian University of Technology. The two parties co-established the “FUT-Kingdee Enterprise Management Software Joint Laboratory” to jointly promote information-based teaching and research, talent cultivation and management consulting in Fujian.
Kingdee held the largest share in the domestic market of application software for small- and medium-sized enterprises, IDC data show.
Xu Shaochun met with Bill Clinton at the global CEO forum hosted by Business Week.
Kingdee ushered in a new operation model for the domestic management software industry, with the concept of “product leadership and partners first.” In the same year, Kingdee unveiled Kingdee K/3 V10.0 in Beijing, a first-of-its-kind strategic corporate management solution with BPM at its core. The software helped growth enterprises in China advance from fundamental to strategic management.
In 2003, its 10th anniversary, Kingdee granted 2,000 stock options to each of its employees to further incentivise them.
In 2003, Kingdee’s next-generation enterprise application software, EAS for J2EE V3.0, passed reviews and was officially released, mainly targeting large- and medium-sized customers. Microsoft President Bill Gates personally demonstrated the short-message-approval function of Kingdee EAS. With ERPII gradually replacing ERP systems as the top choice for business process management within and between enterprises, Kingdee reclaimed its leading position in the industry. Xu Shaochun unveiled Kingdee EAS’s new advertising slogan for 2003: “This year is 2004,” meaning “the company will stay ahead of its peers only by focusing on the future.”
In 2004, Kingdee K/3 BOS, a new generation of technology platform for Kingdee K/3 products, was unveiled and hailed as the “number one brand in the Chinese software market by user satisfaction.”
In 2005, Kingdee evolved from a domestic high tech company to a Hong Kong-listed international company, listing on the Main Board of the Stock Exchange of Hong Kong (stock code:00268.HK).
In 2007, Youshang.com, the predecessor of Kingdee Jingdou Cloud and an online bookkeeping and business management platform developed by Kingdee, was officially unveiled, making Kingdee one of the first companies to break into the domestic SaaS cloud service market.
In 2007, Kingdee’s software park in Shanghai was completed and opened its doors.
In 2008, at its 15th anniversary celebration (held on the same day as the opening ceremony of the Beijing Olympics), Kingdee announced its transformation from a product company to a service company. Creating an image as a corporate management expert, Kingdee was set to build world-leading online management and e-commerce service platforms.
In 2008, under the guidance of Mr. Cheng Siwei, deputy head of the 9th and 10th National People’s Congress, Kingdee and the Chinese Academy of Management initiated the Chinese management model excellence award selection activities, in partnership with the China Europe International Business School, Peking University’s Guanghua School of Management, the School of Management of the Graduate School of the Chinese Academy of Sciences, Tsinghua University’s School of Economics and Management, Renmin University of China’s School of Business, and the Antai College of Economics & Management of Shanghai Jiao Tong University to help promote Chinese management models across the world.
In May 2008, Kingdee donated RMB1.81 million to Wenchuan County after it was struck by a magnitude 8.0 earthquake.
Kingdee’s software park in Shenzhen was officially unveiled in 2009. It was the company’s second software park after Shanghai, which was completed in 2007. Kingdee’s software park in Beijing broke ground in the same year.
On August 21, 2010, Premier Wen Jiabao, who is also a Politburo Standing Committee member, visited Kingdee’s software park in Shenzhen, accompanied by over 50 leaders including Wang Yang, Communist Party chief of Guangdong and a Politburo Standing Committee member, Li Yizhong, Minister of Industry and Information Technology, Wang Rong, a member of the Standing Committee of Guangdong and Communist Party chief of Shenzhen, and Xu Qin, mayor and deputy Communist Party chief of Shenzhen.
The Chinese government designated the cloud industry as a strategic emerging industry for key national support. Kingdee actively promoted cloud management and leveraged emerging technologies such as social networking, mobile Internet, and cloud computing, and committed to becoming a globally leading cloud management service provider.
In 2010, Kingdee rolled out the Suishouji app, which ranked second among financial apps for iPhones in the China region just two weeks after its release.
Kingdee opened Kingdee Weibo, the predecessor of Cloud-Hub, in 2011. In the same year, Kingdee said it will carry out its third transformation after its Windows-based financial software and ERP transformations, by adopting a “cloud management” strategy and utilising emerging technologies such as mobile Internet, social networking and cloud computing.
In 2011, the sponsor meeting for the “China Management, World Forum” event was held in Guangzhou. Xu Jialu, vice chairman of the 10th National People’s Congress Standing Committee, Long Yongtu, chief negotiator for China’s ascension to the World Trade Organisation and former secretary-general of Boao Forum for Asia, Stan Shih, founder of Taiwan-based Acer Group and chairman of the Stans Foundation, Xu Shaochun, board chairman of Kingdee International Software Group and a renowned expert in strategic management, Dr. Bai Lixin, an independent scholar, and some one hundred celebrities from political, commercial and academic circles, attended the meeting and signed the “China Management, World Forum Declaration,” vowing to adhere to the value of “acting in good of conscience, putting conscience into practice, and helping promote Chinese management models across the globe.”
In 2011, Kingdee hosted the inaugural “China Management, World Forum” event, with more than 3,000 participants. Topics on corporate transformation were discussed.
The creation of WeChat made more and more consumers appreciate the appeal of the mobile Internet. In 2012, the government released the “National Development Plan for Strategic Emerging Industries during the 12th Five-Year Period,” listing the Internet of Things and cloud computing among the 20 key projects for China during the 12th FYP. As China shifted its focus from manufacturing to creation-based transformation and upgrading, Kingdee strived to help enterprises achieve Internet-based industrial chain collaboration management and application.
In 2012, Kingdee hosted the “China Management, World Forum” event, bringing together leading management minds.
In 2012, Kingdee Weibo, China’s largest corporate social platform, announced that it had officially upgraded to “Cloud-Hub.” Cloud-Hub, meaning building a “cloud hub” for customers, sought to create a welcoming and harmonious working environment for enterprises by utilising cloud and social networking technologies, enabling employees to communicate and share more conveniently and efficiently, and helping companies lower communication costs, improve work efficiency and become more successful.
Kingdee and JD.com jointly launched Kingdee KIS JD.com version, which was on sale at JD.com. It was the first time that a domestic software maker collaborated with an e-commerce website, creating a new channel for distributing management software in China and innovating the channel model.
In 2012, Kingdee released Kingdee K/3 Cloud featuring innovations of the time including synergy, industry chain integration and socialisation. It sought to consolidate the strengths of core product makers, customers and global partners along the cloud computing industry chain through its open cloud platform, and provide a full range of management services to enterprises to achieve win-win outcomes.
In 2012, One Foundation and Kingdee signed a cooperative agreement at the inaugural China Charity Fair. Kingdee helped the foundation build a well-functioning and transparent charity information platform by using a socialised ERP system, allowing for transparency in charity projects from establishment to implementation, enabling transparent and efficient financial operation of the foundation and allowing donors to receive timely feedback through the system. Kingdee donated RMB1.4 million to One Foundation for its charity projects such as the “holding orphans’ hands” programme.
In 2013, Kingdee’s software park in Beijing opened its doors. It was Kingdee’s third software park after Shanghai and Shenzhen, and is the largest among the three. Kingdee continued to expand the businesses of its Beijing R&D enter, northern district, middleware and medical software companies, and based in Beijing its largest cloud management experience centre and departments overseeing some of its new products and services.
Kingdee held its 20th anniversary celebration party on August 8, 2013. Over 4,000 employees and their family members and representatives of business, management, and press circles across China attended the event.
In a speech by Xu Shaochun, board chairman and chief executive of Kingdee International Software Group, it was stressed that Kingdee has been striving to become a software world power over the past 20 years, and is committed to using cloud management to help Chinese enterprises transform and upgrade.
In May 2014, Chairman Xu Shaochun embodied the radicalism of China’s “May Fourth” youth movement by smashing up a PC and leading the company to adopt a new, revolutionary model of operation. In the same month, Kingdee released the Cloud-Hub mobile work platform, promoting a new model of operation. In August, Chairman Xu Shaochun demolished a server to show his determination to upend the conventional ERP model. In October, the “2014 China Management, World Forum” event was held in Beijing, with the theme “Link to the Cloud.” Elites from the government and business and academic circles gathered to focus on the Internet-related transformation of Chinese enterprises.
On May 4, 2014, Chairman Xu Shaochun embodied the radicalism of China’s “May Fourth” youth movement by personally smashing up a PC and delivering a speech titled “The New Operation Model Starts Here,” urging over one thousand employees to do away with traditional operation tools and models.
The 2014 “China Management, World Forum” event was held. Over 2,000 guests including Long Yongtu, vice minister and chief negotiator for China’s accession to the WTO, and Chen Wei, head of the Software Services Department of MIIT, attended the event, which analysed pathways for transformation and upgrading for Chinese enterprises in the current era.
At Kingdee’s 21st anniversary, Xu Shaochun played the part of pirate captain and smashed up a customer’s servers, announcing the establishment of the company’s ERP Cloud Service Department and its determination to upend the conventional ERP model by offering cloud services such as Kingdee K/3 Cloud.
Kingdee entered into a strategic partnership with Inspur, the only cloud computing leader in China that integrates software with hardware. The two parties planned joint technological integration and marketing of Inspur’s government cloud, domestic-made key host systems and Kingdee’s Apusic middleware products.
In 2015, Kingdee sought to achieve innovative development of its “Internet +” business,entering into full partnerships with Internet giants in the cloud service field including Kingsoft, Amazon and JD.com. Kingdee founded its mobile Internet base in Changsha in April and set up four mobile Internet firms on Youth Day, May 4th, to speed up the development of its Internet+ business. In December, Kingdee teamed up with JD.com and China Travel Sky Holding and jointly facilitated the first e-invoicing in the country, leading to a new round of changes in the finance and taxation fields. In the same month, Kingdee unveiled the Zhangwuyou corporate finance and taxation service platform, helping small and micro enterprises deal with finance and taxation matters with ease.
Kingdee signed a strategic cooperation agreement with Kingsoft for in-depth cooperation in mobile office cloud services, cloud storage and cloud security. The pair will jointly provide superior cloud services for corporate users, aiming to change the way hundreds of millions of people work and help Chinese enterprises achieve mobile Internet-related transformation.
Kingdee inked a global strategic cooperation agreement with Amazon AWS which will help Kingdee build a world-class enterprise ERP cloud service platform and help speed up the development of the Chinese enterprise cloud computing market and the construction of the cloud computing ecosystem.
JD.com subscribed to some 10% of Kingdee’s shares, and entered into a strategic partnership with Kingdee to jointly provide cloud-based ERP integration solutions for SMEs and offer superior, one-stop services for their customers.
Taiji Computer strategically invested in Kingdee Middleware and signed a strategic cooperation agreement with Kingdee. The two parties will jointly promote the development of independent and controllable businesses by integrating their technologies, products and solutions.
Kingdee and Xiamen ITG Group signed a strategic cooperation agreement in which they will co-establish Kingdee Automotive Network Technology Co., Ltd. and jointly promote the company’s product research and development to help Kingdee products maintain their leading position in the Chinese auto dealer management software market.
Kingdee unveiled its Cloud-Hub open platform strategy at the “2015 China Management, World Forum” event and Kingdee User Conference, vowing to leverage the concepts of connection, intelligence and innovation of ERP+ to help traditional enterprises achieve Internet + transformation.
Kingdee teamed up with JD.com and China TravelSky Holding and jointly facilitated the first e-invoicing in the country, helping financial personnel shift their focus from pure accounting to management accounting and offering higher business value to enterprises and users.
Kingdee unveiled the Zhangwuyou agent bookkeeping service platform. Leveraging its 22 years of corporate management experience and Youshang.com’s eight years of financial cloud service experience, Kingdee integrated the professional service resources of over 2,000 agent bookkeeping partners to help small and micro enterprises access specialised agent bookkeeping services, and provided credit guarantees for such services.
IDC: Kingdee has ranked first by market share in China’s SME market for 12 consecutive years.
Kingdee International entered into a strategic partnership with Aisino Corp to provide low-cost, efficient, integrated financial and tax management services to corporate users.
On Youth Day, May 4, Kingdee employees and its product users together smashed up offices, and the company vowed to upend the traditional office model and liberate people from a fixed office environment.
Wang Shi, chairman of Vanke, endorsed Cloud-Hub. He and Cloud-Hub challenged all executives and entrepreneurs to work together to change the traditional office model.
Kingdee unveiled Jingdou Cloud in the form of a wedding ceremony event. With the software, the company sought to provide one-stop cloud services including mobile office, online bookkeeping, agent bookkeeping and data finance to millions of small and micro enterprises in China.
The 9th Chinese management model excellence award selection activities focused on management innovation cases in the shared economy. The new management philosophy of sharing is highly compatible with the Eastern idea of win-win, providing a new development path for management theories and practices.
The “China Management, World Forum” event and Kingdee User Conference proposed to re-define the six characteristics of ERP as intelligence, sharing, mobility, social networking, big data and cloud computing.
In 2016, Kingdee entered into a donation partnership with the “Teach For China” public welfare project, offering information platform support for the project. This was another public welfare project for which the One Foundation chose Kingdee as a partner in building a well-functioning and transparent management platform. Kingdee has always remained true to its commitment as a socially responsible enterprise.