Tech billionaire Wang Wenjing, who was once known as China's "king of software", has stepped down as president of enterprise management systems provider Yonyou Network Technology, as the company he founded in 1988 continues to struggle with sluggish sales and mounting losses amid the mainland's weak post-pandemic economic recovery. Wang had tendered his resignation with immediate effect, according to Yonyou's filing with the Shanghai Stock Exchange on Wednesday. "The company's board expresses it
On August 19, 2023, Yonyou Network Technology unveiled the White Paper on Globalization of Digital Operations for Chinese Enterprises at the forum entitled 'Chinese Enterprises Going Global' in Shanghai National Exhibition and Convention Center, aiming to support Chinese enterprises in global expansion and digital transformation.