Fujian Foxit Software Development Joint Stock Co.,Ltd (688095.SS) Bundle
A Brief History of Fujian Foxit Software Development Joint Stock Co.,Ltd
Fujian Foxit Software Development Joint Stock Co., Ltd, commonly known as Foxit Software, was founded in 2001 in Fuzhou, Fujian Province, China. The company specializes in developing portable document format (PDF) software solutions.
In 2004, Foxit released its first product, Foxit Reader, which gained significant traction due to its fast performance and lightweight nature. The software quickly became an alternative to Adobe Acrobat Reader, boasting a 40% smaller file size and significantly faster load times.
By 2008, Foxit had established itself as a leader in the PDF solutions market, with over 100 million users worldwide. The company also began to expand its product range, introducing Foxit PhantomPDF, a comprehensive PDF editing solution targeting businesses.
In 2012, Foxit Software attracted the attention of investors, leading to a funding round that raised approximately $30 million. This capital allowed Foxit to expand its product offerings and market presence further.
The company's growth trajectory continued, leading to a strategic partnership with notable enterprises for integration with their software ecosystems. In 2017, Foxit launched the Foxit PDF SDK to provide developers with tools to integrate PDF functionalities into their applications.
Foxit Software's commitment to security in PDF documents became a hallmark of its offerings, especially following the rise in cybersecurity threats. In 2018, the company introduced new features designed to enhance user security, addressing concerns related to PDF file vulnerabilities.
In recent years, Foxit has focused on cloud-based solutions, adapting to the growing demand for online collaboration tools. By 2020, the company reported a significant increase in subscriptions to its cloud services, with over 500,000 active users of Foxit Cloud.
As of October 2023, Foxit Software was listed on the Shenzhen Stock Exchange, with a market capitalization of approximately ¥5 billion (around $770 million). The company reported an annual revenue of about ¥1.2 billion (approximately $185 million) for the fiscal year 2022, showcasing a robust growth rate of 15% year-over-year.
| Year | Revenue (¥ Billion) | Market Capitalization (¥ Billion) | Active Users (Million) |
|---|---|---|---|
| 2018 | 0.8 | 2.5 | 200 |
| 2019 | 1.0 | 3.0 | 300 |
| 2020 | 1.1 | 4.0 | 400 |
| 2021 | 1.3 | 4.5 | 450 |
| 2022 | 1.2 | 5.0 | 500 |
Foxit Software continues to innovate and expand its portfolio of PDF products, positioning itself as a significant player in the global software market. The company's strategic focus on advanced features, cloud services, and user security reflects its dedication to addressing the evolving needs of its customers.
A Who Owns Fujian Foxit Software Development Joint Stock Co.,Ltd
Fujian Foxit Software Development Joint Stock Co., Ltd, primarily known for its PDF solutions and document management software, has a diverse ownership structure. The ownership is segmented into various stakeholders, including institutional investors, individual shareholders, and company executives.
As of the latest report from September 2023, the following shareholders hold significant stakes in Fujian Foxit:
| Shareholder | Ownership Percentage | Type of Ownership |
|---|---|---|
| Shenzhen Foxit Technology Co., Ltd | 52.69% | Subsidiary Ownership |
| Qingyuan Chengong Investment Co., Ltd | 10.25% | Institutional Investor |
| Jenkins Capital Group | 7.48% | Institutional Investor |
| Individual Shareholders | 29.58% | Individual Investors |
In terms of market activity, as of October 2023, Fujian Foxit Software has recorded a market capitalization of approximately RMB 25 billion (around USD 3.8 billion), reflecting its solid position in the technology sector. The company's share price has fluctuated around RMB 36 per share during the last quarter, with a year-to-date increase of 15%.
Corporate governance plays a crucial role in the company’s strategic direction. The board comprises members with extensive experience in technology and finance, ensuring a mix of innovation and business acumen in decision-making. The CEO, Mr. Chen Feng, holds an important leadership position, further solidifying the company's vision.
Fujian Foxit’s ownership structure has allowed it to maintain a robust research and development budget, reportedly around RMB 800 million in 2022, which is approximately 3.2% of total revenues. This investment in R&D is critical for the company as it navigates competitiveness in the digital document space and expands its product offerings.
The company's shareholder base reflects a balance between strategic institutional investors and individual stakeholders, promoting a stable governance model that supports growth while leveraging the capabilities of its parent company, Shenzhen Foxit Technology Co., Ltd.
Fujian Foxit Software Development Joint Stock Co.,Ltd Mission Statement
Fujian Foxit Software Development Joint Stock Co., Ltd., known for its innovative PDF solutions and document management tools, communicates its mission through a commitment to providing high-quality, efficient, and user-friendly products that enhance productivity in digital document management. The company aims to empower users with powerful tools that facilitate seamless collaboration and improve overall workflow efficiency.
The mission statement emphasizes customer satisfaction, innovation, and the pursuit of excellence in service delivery. Foxit positions itself in the market by focusing on cost-effective solutions that meet the needs of various organizations, from small businesses to large enterprises.
| Core Values | Description |
|---|---|
| Customer Focus | Dedicated to understanding and meeting customer needs to improve satisfaction. |
| Innovation | Pioneering new technologies and continuous improvements to existing products. |
| Integrity | Conducting business with honesty and transparency. |
| Teamwork | Fostering a collaborative work environment to enhance productivity. |
Financially, the company has shown a strong performance in recent years. For the fiscal year 2022, Foxit reported an annual revenue of approximately $220 million, representing a year-over-year growth of 25%. This growth has been driven by an increase in subscription-based services and a strengthened global presence.
In Q2 2023, Foxit achieved a gross profit margin of around 80%, reflecting the high demand for its high-margin software products. The company also reported an operating income of $45 million for the first half of 2023.
As part of its mission, Foxit is committed to enhancing its product offerings through regular updates and customer feedback mechanisms. The company has invested over $10 million in research and development in the past year to ensure that it remains at the forefront of document technology innovation.
Foxit's market penetration and customer base have expanded significantly, with over 500 million users in more than 200 countries. This global reach exemplifies the company's commitment to providing accessible and efficient document solutions to users worldwide.
Additionally, the company has forged strategic partnerships with major technology firms, further solidifying its position in the competitive software landscape. With a diverse product portfolio that includes PDF readers, editors, and collaboration tools, Foxit continues to align its mission with market needs and trends, ensuring sustained growth and customer loyalty.
How Fujian Foxit Software Development Joint Stock Co.,Ltd Works
Fujian Foxit Software Development Joint Stock Co., Ltd. specializes in software solutions, primarily focusing on PDF technology. The company's flagship product is the Foxit PDF Editor, which has gained significant traction in the market due to its robust features and competitive pricing.
As of October 2023, Foxit has over 650 million users worldwide, showcasing its reach and influence in the digital document management space. The company operates under the premise of providing efficient and cost-effective PDF solutions, targeting both individual and enterprise clients.
Business Model
Foxit operates a subscription-based model alongside perpetual licensing for its products. This dual approach allows the company to cater to a variety of customer needs, enhancing its revenue streams. The subscription service typically sees growth due to increasing demand for cloud-based services.
Financial Performance
In the fiscal year 2022, Fujian Foxit reported revenues of approximately $180 million, an increase of 15% year-over-year compared to 2021. The company's net income for the same period was around $20 million, reflecting a net profit margin of approximately 11%.
| Financial Metric | 2021 | 2022 | Change (%) |
|---|---|---|---|
| Revenue | $156 million | $180 million | +15% |
| Net Income | $17 million | $20 million | +18% |
| Net Profit Margin | 10.9% | 11.1% | +0.2% |
Market Position
Foxit competes with other major players in the PDF software market, such as Adobe and Nitro. In 2022, Foxit held a market share of approximately 5.7% in the global PDF software market, which was valued at around $3.15 billion. The company has consistently focused on enhancing its technology, resulting in increased user satisfaction and retention rates.
Product Offerings
- Foxit PDF Editor
- Foxit PhantomPDF (now known as Foxit PDF Editor Business)
- Foxit PDF SDK
- Foxit Reader
- Foxit PDF Compressor
Recent Developments
In 2023, Foxit launched a new feature set aimed at improving collaboration tools within its PDF editor. The enhancements focus on real-time editing and commenting capabilities, which are crucial for teams working remotely. This feature rollout has contributed to a sustained increase in subscription sign-ups by 25% in Q3 2023 compared to Q2 2023.
Investment and Growth
Fujian Foxit is actively pursuing growth through strategic partnerships and expanding its product ecosystem. In 2022, the company secured funding of $30 million to invest in research and development, specifically targeting artificial intelligence integration in their product offerings, which is projected to enhance automation in document management by 40% over the next three years.
Customer Base
The company's customer base is diverse, including individual users, small to medium enterprises (SMEs), and large corporations. Notably, organizations within the education and healthcare sectors have reported significant productivity boosts due to Foxit’s solutions, citing efficiencies of up to 30% in document handling processes.
Global Reach
Foxit operates in over 80 countries, with its largest markets being North America and Europe. The company has established localized versions of its products to cater to specific regional needs, which has enhanced its global competitiveness. As of mid-2023, Foxit has expanded its operations to cover additional markets in Asia and South America.
How Fujian Foxit Software Development Joint Stock Co.,Ltd Makes Money
Fujian Foxit Software Development Joint Stock Co., Ltd, known for its PDF solutions, generates revenue through several key avenues, primarily focusing on software licenses, subscriptions, and professional services.
As of September 2023, Foxit reported a total revenue of approximately RMB 1.2 billion (around $185 million), showing significant growth of 15% year-over-year. This revenue is primarily derived from its core products, including Foxit PhantomPDF, which is a leading PDF creation and editing software.
The company offers several pricing models tailored to different customer segments:
- Annual Subscription for Individuals
- Volume Licensing for Businesses
- Enterprise Solutions for Large Organizations
Each of these models contributes distinct revenue streams, with the subscription model accounting for approximately 40% of total revenues while the volume licensing contributes 35%.
In addition to software sales, Foxit also earns from professional services, such as:
- Training and Certification Programs
- Custom Development Services
- Technical Support
Revenue from professional services has been growing steadily, contributing about 25% of the overall revenue.
The following table provides a detailed breakdown of revenue sources for the fiscal year ending 2023:
| Revenue Source | Amount (RMB) | Percentage of Total Revenue |
|---|---|---|
| Software Licenses | 480 million | 40% |
| Subscriptions | 480 million | 40% |
| Professional Services | 300 million | 25% |
| Other Income | 40 million | 3.5% |
The company's strategy includes expanding its customer base internationally, especially in North America and Europe, where it sees increasing demand for digital document management solutions. Foxit’s operating expenses are roughly 25% of its revenue, leading to a healthy operating margin of 20%.
Recent partnerships with cloud service providers have also opened up new revenue channels. The integration of Foxit products with platforms like Microsoft Azure and AWS has enhanced their appeal, leading to increased sales in cloud-based solutions.
Furthermore, Foxit has invested significantly in R&D, with an annual budget of approximately RMB 150 million, which is about 12.5% of their total revenue. This investment aims to develop innovative features and maintain competitiveness in a crowded market.
Looking ahead, the company's strong focus on automation and AI integration in their products is expected to drive further growth, as demand for efficient document processing continues to rise.
Fujian Foxit Software Development Joint Stock Co.,Ltd (688095.SS) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.