New stock news | Yonyou Network Technology (600588.SH) has submitted its listing application to the Hong Kong Stock Exchange, making it the largest market participant in China's enterprise software and services market.

According to the disclosure by the Hong Kong Stock Exchange on June 27th, Yonyou Network Technology Co., Ltd. (referred to as Yonyou Network Technology) (600588.SH) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and CITIC SEC as its joint sponsors. According to the prospectus, Yonyou Network Technology is a leading global provider of enterprise software and intelligent services, committed to the research and development, sales, and services of enterprise digital intelligence software and intelligent services based on core technologies such as AI, big data, and cloud computing. According to data from Frost & Sullivan, based on revenue projections for 2024, the company is the largest market participant in China's enterprise software and services market. The company's strategic focus is on leading industry innovation through the development of AI intelligent clusters tailored for enterprise applications. Since its establishment, the company has been at the forefront of the development of China's enterprise software and services industry, transitioning from accounting computerization to informatization and then to digital intelligence. In line with this trend, the core product has transitioned from financial management software to ERP and eventually to the Yonyou Business Innovation Platform (Yonyou BIP). The company was the number one financial software provider in China in the 1.0 accounting computerization stage and rose to become the number one ERP software provider in the Asia-Pacific region (top 10 globally) in the 2.0 informatization stage. The company was the first to propose the concept of digital intelligence in the industry, constructing a new generation of business innovation platform in the 3.0 stage: Yonyou BIP, to help enterprises enhance their comprehensive digital intelligence capabilities for online business, data-driven operations, and intelligent operations. Today, with the help of artificial intelligence technology, the company continues to lead the development of the enterprise digital and intelligent software and services market. The company provides a rich product matrix of enterprise software and intelligent services, including cloud services and software products, to comprehensively meet the digital transformation needs of enterprises of all sizes (from small and medium-sized enterprises to large integrated enterprises to public organizations). The company's cloud services mainly include products provided by Yonyou BIP series, U9cloud, CHANJET, and industry-specific solutions. Yonyou BIP is the core platform of the company's cloud services. This integrated platform is designed to offer comprehensive tools, capabilities, and resources support for enterprise digital transformation and intelligent operations. With the strong technical foundation and modular delivery capabilities of Yonyou BIP, the company has launched the Yonyou BIP product series, including YonBIP for large enterprises and YonSuite for medium-sized enterprises. Yonyou BIP effectively addresses the pain points such as application isolation, data fragmentation, and disconnected AI capabilities that have long existed in traditional enterprise software, accurately matching the advanced needs of enterprise digital transformation. In terms of finances, Yonyou Network Technology achieved revenues of approximately RMB 8.89 billion, RMB 9.43 billion, and RMB 8.817 billion respectively for the years 2022, 2023, and 2024. During the same periods, the net profits were approximately RMB 225 million, - RMB 933 million, and - RMB 2.07 billion respectively.