Yusys Technologies provides IT solutions to financial institutions, offering consulting, software development, and operations and maintenance services. The company serves major clients including the People’s Bank of China, China Development Bank, and the country’s six largest commercial banks including Industrial and Commercial Bank of China. According to its 2019 first half financial report, Yusys booked about RMB 1.1 billion in total revenue in the first half of the year, up 40.6% year-on-year, and reported RMB 81 million in net profit in the first six months, up 20.5% year-on-year. Baidu purchased a 5.71% stake in Yusys for nearly RMB 600 million (USD 86.3 million), as disclosed in a filing with the Shenzhen Stock Exchange. Baidu said the strategic cooperation will allow it to apply its artificial intelligence technologies in the financial sector on a large scale, and Baidu’s CTO noted Yusys has consolidated a leading position among fintech solution providers over the past 20 years. The transaction links Yusys’ established banking IT business with Baidu’s AI capabilities.

Total raised

$86M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2020