An asset that has a significant value but no physical presence and offers a business long-term financial value is referred to as an "intangible asset". Identifiable intangible assets are those that may be independently marketed by the company, are distinguishable from other assets, and can be identified. Intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, like airport landing rights or broadcasting licenses, are examples of identifiable intangible assets. A trademark is a sign that can be used to distinguish one company's goods or services from those of other businesses. For trademarks, intellectual property rights offer protection. When purchased separately, intangible assets are capitalized at fair value as of the date of acquisition rather than cost.
As per the company's assessment of the fair value of identified intangible assets, computer software for own use and Trademarks, licenses, and copyrights amounted to CNY50.1 million and CNY294.3 million, respectively. In FY2021, the company's net value of intangible assets was CNY1037.4 million. Kingdee International’s gross intangible assets surged from CNY238.7 million in FY2020 to CNY344.4 million in FY2021, an increase of 44.3%. The company's amortization expense for intangible assets was CNY366.8 million in FY2021.
In FY2021, the company completed the acquisition of Beijing Kingdee Yunji Technology Co., Ltd. Kingdee acquired Yunji for a total consideration of CNY163.2 million. As of the acquisition date, the company initially recorded goodwill of CNY77.4 million. The company’s trademarks grew from CNY192.9 million in FY2020 to CNY294.3 million in FY2021, an increase of 52.6%.
Kingdee International Software Group Company Ltd (Kingdee) is a technology company that offers enterprise management solutions. The company offering products includes kingdee EAS, kingdee KIS, and KIS cloud. It offers business solutions such as financial management, supply chain management, human resource management, o2o solutions, and cloud-hub mobile solution. Kingdee cloud comprises PaaS and SaaS platforms for medium-sized, large, and small enterprises and cloud service platforms for e-commerce enterprises. It serves real estate, household chemicals, education, financial securities, medicine and healthcare, government and public affairs, manufacturing, and food industries.
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