China's SaaS: An 'Open Ocean' Up Ahead

Kingsoft Cloud's focused approach has made it a prime force in a few cloud industry subfields, such as games, video streaming, live streaming and finance. It is now expected to further boost its presence in various new verticals, where the main potential of the cloud market is mainly distributed. For example, Kingsoft Cloud recently shifted to the financial and government fields, enabling it to open up new business fulcrums beyond the public cloud business. In 2019, Kingsoft Cloud entered the field of Artificial Intelligence of Things (AIoT), which happens to be one of the key investment areas in China's 'new infrastructure' course.

China Youzan (08083:HK)

Youzan provides merchants with social network-based SaaS systems with omnichannel operations and integrated new retail solutions, applying PaaS cloud services to create business customization options while providing extended services, such as Youzan Guarantee, Youzan Distribution and Youzan Promotion.

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Within Youzan's ecosystem, merchants can sell items via social networks, managing their own omnichannel retail through the company's SaaS solutions. The firm also offers a variety of cloud-based commerce services to merchants through a suite of SaaS products such as Youzan WeiMall, Youzan Retail, Youzan Chain, Youzan Beauty and Youzan Education. In addition, Youzan specializes in the SaaS business that supports SME merchants and facilitates retail transactions. Across industries, management teams lacking a technical background can easily open a customized online store on Youzan.

Youzan's gross merchandise volume (GMV) in 2020 was CNY 103.7 billion, a 61% increase compared to 2019's figure. In the same year, the gross profit margin of its SaaS products increased by 11.8%, reaching 76.0%.

Weimob (02013:HK)

Weimob was founded in 2013 and currently has over 5,700 employees, 1,600 channel partners, and 3 million registered merchants. Providing cloud-based commerce and marketing solutions, it leverages Tencent’s social networking service platforms for SMBs in China. The company provides SaaS and other software for e-commerce, retail, catering, hotel, local life and other industries, enabling merchants to carry out traffic management, obtain public domain traffic, and supports them to achieve digital transformation.

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