BEIJING, May 2 (Xinhua) -- China's enterprise software and solutions provider Yonyou Network Technology Co., Ltd. has reported a 74.4-percent year-on-year growth in its cloud service business in the first quarter.
The company achieved a revenue of 219 million yuan (about 31 million U.S. dollars) in cloud services (excluding cloud for financial services) during the three-month period, while its total operating revenue was down 13.1 percent to 1.09 billion yuan in Q1.
The total number of corporate clients of Yonyou's cloud services has exceeded 5.66 million, the company said.
Yonyou has provided cloud service products to support corporates in telecommuting, human resources, finance, marketing and procurement during the COVID-19 epidemic, as well as the Red Cross Society of China and local hospitals in Wuhan, once the hardest-hit city in central China's Hubei Province.
Founded in 1988, the Beijing-headquartered company went public at the Shanghai Stock Exchange in 2001 and has subsidiaries in Singapore, Malaysia and Thailand.
Weighed down by the COVID-19 epidemic, revenues of China's software sector declined in the first quarter.
The industry raked in a total of 1.4 trillion yuan in revenue, down 6.2 percent year on year, according to data from the Ministry of Industry and Information Technology. Enditem
