Its a signal. They were earning well and AI crashed the market in China.
replyChina is in a very different economic state to the West (broadly construed).
replyThey have had real issues with deflation rather than the inflation most Western countries have seen over the past five years.
> Chinese companies have always had a very low willingness to pay for software
replyAre we still left with this mindset? Maybe once upon a time but it has definitely been changing.
There's plenty of B2B and enterprise SaaS companies in China serving the Chinese market. Maybe not as many, but no longer the very low of the past.
I also would not say enterprise were not willing to pay, even many years ago. It's the SME that refused to pay. Large CRM, ERPs etc have always existed.