Revenue and Profitability - Revenue for the first six months of 2024 was RMB 3,667,464 thousand, a slight decrease of 0.9% compared to the same period in 2023[7] - Gross profit increased significantly by 52.6% to RMB 611,600 thousand in the first half of 2024[7] - Net loss decreased by 35.2% to RMB 717,334 thousand in the first six months of 2024[7] - Gross margin improved to 16.7% in 2024, up from 10.8% in 2023[9] - Adjusted gross margin (non-GAAP) reached 17.0% in 2024[9] - Adjusted EBITDA margin (non-GAAP) turned positive at 2.6% in 2024, compared to -5.2% in 2023[13] - Adjusted net loss margin (non-GAAP) improved to -14.1% in 2024 from -19.7% in 2023[13] - Normalized adjusted EBITDA margin was 1.9% in 2024, up from -4.6% in 2023[13] - Adjusted net loss decreased to RMB 518.4 million (USD 71.3 million) from RMB 727.4 million in the same period last year[15] - Adjusted EBITDA turned positive to RMB 93.8 million (USD 12.9 million) compared to a loss of RMB 191.9 million in the previous year[15] - Total revenue reached RMB 3,667.5 million (USD 504.7 million), with public cloud services contributing RMB 2,421.9 million (USD 333.3 million) and industry cloud services contributing RMB 1,245.4 million (USD 171.4 million)[16] - Gross profit increased by 52.6% to RMB 611.6 million (USD 84.2 million), with a gross margin of 16.7%, up from 10.8% in the same period last year[16] - Adjusted EBITDA margin improved to 2.6%, a 7.8 percentage point increase from -5.2% in the previous year[16] - Total revenue reached RMB 3,667.5 million (USD 504.7 million), a decrease of 0.9% compared to RMB 3,699.8 million in the same period of 2023, primarily due to the reduction of services to CDN customers, offset by strong revenue growth from AI-related customers[24] - Revenue from public cloud services increased by 4.7% to RMB 2,421.9 million (USD 333.3 million) from RMB 2,313.2 million in the same period of 2023, driven by growth in AI-related services[24] - Revenue from industry cloud services decreased by 10.1% to RMB 1,245.4 million (USD 171.4 million) from RMB 1,385.2 million in the same period of 2023, due to a focus on selected vertical industries and high-quality projects[24] - Gross profit increased significantly by 52.6% to RMB 611.6 million (USD 84.2 million) from RMB 400.8 million in the same period of 2023, with a gross margin of 16.7% compared to 10.8% in the previous year[25] - Net loss decreased significantly to RMB 717.3 million (USD 98.7 million) from RMB 1,107.1 million in the same period of 2023, primarily due to reduced operating losses and foreign exchange fluctuations[26] - Non-GAAP EBITDA turned positive to RMB 93.8 million (USD 12.9 million) from RMB -191.9 million in the same period of 2023, with a non-GAAP EBITDA margin of 2.6% compared to -5.2% in the previous year[26] - Total revenue for the six months ended June 30, 2024, was RMB 3,667,464 thousand, compared to RMB 3,699,803 thousand for the same period in 2023[90] - Gross profit for the six months ended June 30, 2024, was RMB 611,600 thousand, up from RMB 400,791 thousand for the same period in 2023[90] - Net loss for the six months ended June 30, 2024, was RMB 717,334 thousand, compared to RMB 1,107,093 thousand for the same period in 2023[90] - Public cloud services revenue for the six months ended June 30, 2024, was RMB 2,421,912 thousand, up from RMB 2,313,183 thousand for the same period in 2023[90] - Industry cloud services revenue for the six months ended June 30, 2024, was RMB 1,245,400 thousand, down from RMB 1,385,152 thousand for the same period in 2023[90] - Net loss for the first half of 2024 decreased to RMB 717,334 thousand (USD 98,709 thousand) compared to RMB 1,107,093 thousand in the same period of 2023[95] - Basic and diluted net loss per share improved to RMB 0.20 (USD 0.03) in the first half of 2024 from RMB 0.31 in the same period of 2023[91] - Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders decreased to RMB 692,343 thousand (USD 95,270 thousand) in the first half of 2024 from RMB 897,537 thousand in 2023[91] - The net loss attributable to Kingsoft Cloud Holdings Limited for the first six months of 2024 was RMB 712,586 ($98,056)[154] - Basic and diluted loss per share for the first six months of 2024 was RMB 0.20 ($0.03)[154] - Revenue from providing public cloud services to Xiaomi Group increased from RMB 379,893 in 2023 to RMB 490,133 ($67,445) in the first six months of 2024[157] - Revenue from providing public cloud services to Kingsoft Software Group increased from RMB 99,386 in 2023 to RMB 136,596 ($18,796) in the first six months of 2024[157] - The company's net loss under US GAAP was RMB 1,107,093, while under IFRS it was RMB 1,111,318 for the six months ended June 30, 2023[164] - The company's net loss under US GAAP was RMB 717,334, while under IFRS it was RMB 705,722 for the six months ended June 30, 2024[170] Operating Expenses and Costs - R&D expenses amounted to RMB 435.9 million (USD 60.0 million), with 1,186 R&D personnel as of June 30, 2024[20] - Operating expenses totaled RMB 1,163.3 million (USD 160.1 million), a decrease from RMB 1,361.8 million in the same period of 2023, with reductions in general and administrative expenses due to improved business quality[26] - Depreciation and amortization expenses increased to RMB 528,450 thousand (USD 72,717 thousand) in the first half of 2024 from RMB 510,519 thousand in 2023[95] - Employee benefit expenses for the six months ended June 30, 2024, amounted to RMB 214.3 million (USD 29.5 million)[33] - Equity incentive expenses for the first six months of 2023 and 2024 were RMB 43,106 and RMB 149,244 ($20,537) respectively[146] Cash Flow and Financial Position - Cash and cash equivalents decreased by 18.5% to RMB 1,837.8 million (USD 252.9 million) as of June 30, 2024, compared to RMB 2,255.3 million as of December 31, 2023[27] - Cash outflow from operating activities reduced to RMB 170,167 thousand (USD 23,415 thousand) in the first half of 2024 from RMB 206,157 thousand in 2023[95] - Investment activities resulted in a net cash outflow of RMB 1,823,846 thousand (USD 250,970 thousand) in the first half of 2024, primarily due to purchases of property and equipment[95] - Net cash generated from financing activities was RMB 1,636,046 thousand (USD 225,127 thousand) in the first half of 2024, a significant increase from RMB (118,773) thousand in the same period of 2023[96] - Cash and cash equivalents, including restricted cash, decreased to RMB 2,096,404 thousand (USD 288,475 thousand) as of June 30, 2024, down from RMB 3,823,087 thousand as of June 30, 2023[96] - Total assets increased from RMB 15,070,278 thousand as of December 31, 2023, to RMB 16,460,960 thousand as of June 30, 2024[84] - Cash and cash equivalents decreased from RMB 2,255,287 thousand as of December 31, 2023, to RMB 1,837,757 thousand as of June 30, 2024[84] - Property and equipment net increased from RMB 2,186,145 thousand as of December 31, 2023, to RMB 3,882,522 thousand as of June 30, 2024[84] - Total liabilities increased from RMB 7,824,374 thousand as of December 31, 2023, to RMB 9,759,174 thousand as of June 30, 2024[88] - Total equity decreased from RMB 7,245,904 thousand as of December 31, 2023, to RMB 6,701,786 thousand as of June 30, 2024[86] - Accumulated deficit increased to RMB 13,027,627 thousand (USD 1,792,661 thousand) as of June 30, 2024, from RMB 11,237,969 thousand as of December 31, 2023[92] - The number of ordinary shares outstanding increased to 3,596,874,352 as of June 30, 2024, from 3,539,136,595 as of December 31, 2023[92] - Short-term borrowings increased to RMB 834,519 thousand (USD 114,834 thousand) in the first half of 2024, up from RMB 544,002 thousand in the same period of 2023[96] - Long-term borrowings amounted to RMB 226,861 thousand (USD 31,217 thousand) in the first half of 2024, compared to none in the same period of 2023[96] - The company's cumulative deficit reached RMB 13,027,627 thousand (USD 1,792,661 thousand) as of June 30, 2024[99] - Net current liabilities stood at RMB 1,181,377 thousand (USD 162,563 thousand) as of June 30, 2024[99] - The company's operations are primarily funded through customer contracts, equity financing, and borrowings from third parties and related parties[99] - The company maintains existing credit facilities with Xiaomi Group, its subsidiaries, and banks[99] - Total borrowings to be repaid in the remaining six months of 2024 amount to RMB 1,584,865 thousand (USD 218,085 thousand)[144] - Borrowings scheduled for repayment in 2025 total RMB 2,025,554 thousand (USD 278,726 thousand)[144] - The company has an unfulfilled purchase commitment of RMB 553,942 (USD 76,225) for internet data center services as of June 30, 2024[161] - The company's cumulative other comprehensive income was RMB 575,585 (USD 79,203) as of June 30, 2024[162] Equity and Shareholder Information - Lei Jun, the company's director, holds a 12.25% stake in the company through controlled entities[35] - Kingsoft Software is the largest shareholder with a 37.40% stake in the company as of June 30, 2024[38] - The total number of issued shares as of June 30, 2024, is 3,805,284,801 shares[39] - The Bank of New York Mellon Corporation holds 1,073,779,732 shares (long position) and 1,063,142,295 shares (short position) in The Bank of New York Mellon[39] - Xiaomi beneficially holds 449,701,000 shares, and its wholly-owned subsidiary Green Better Limited holds 16,460,000 shares[39] - The total number of shares available for issuance under the 2013 Share Option Plan is 26,330,754 shares, representing approximately 0.69% of the total issued shares[42] - The 2013 Share Option Plan has a 10-year validity period starting from February 27, 2013, and has expired as of the latest practicable date[45] - The total number of shares available for issuance under the 2013 Share Award Plan is 23,383,090 shares, representing approximately 0.61% of the total issued shares[48] - The 2013 Share Award Plan has a 10-year validity period starting from February 22, 2013, and has expired as of the latest practicable date[50] - The 2021 Equity Incentive Plan was adopted on November 15, 2021, and amendments were approved by the board on December 20, 2022, effective after the Hong Kong listing[51] - The total number of shares that may be issued upon exercise of all options and awards under the 2021 Equity Incentive Plan and any other share plans of the company shall not exceed 10% of the total issued shares immediately following the Hong Kong listing, amounting to 380,528,480 shares[55] - The total number of shares that may be issued upon exercise of all options and awards granted to service provider participants under the 2021 Equity Incentive Plan and any other share plans of the company shall not exceed 1% of the total issued shares immediately following the Hong Kong listing, amounting to 38,052,848 shares[55] - As of January 1, 2024, and June 30, 2024, the number of options and awards available for grant under the plan authorization limit were 226,083,503 and 191,111,525 shares, respectively, while the number of options and awards available for grant under the service provider sub-limit remained at 38,052,848 shares[56] - The total number of shares that may be issued under the 2021 Equity Incentive Plan as of the latest practicable date is 341,294,939 shares, representing approximately 8.97% of the total issued shares[56] - The total number of shares issued and to be issued to each selected participant upon vesting or exercise of awards granted and to be granted under the 2021 Equity Incentive Plan and any other share plans of the company within any 12-month period shall not exceed 1% of the total issued shares, unless approved by shareholders[57] - The 2021 Equity Incentive Plan has a remaining term of approximately 7 years and 2 months as of the latest practicable date[62] - The exercise price of stock options cannot be lower than the fair market value of the shares on the grant date, and post-Hong Kong listing, it must not be lower than the higher of the closing price on the grant date or the average closing price over the preceding 5 trading days[61] - No consideration is required for accepting awards under the 2021 Equity Incentive Plan, including restricted stock units, stock options, or other types of awards[60] - The vesting period for awards under the 2021 Equity Incentive Plan is generally not less than 12 months, unless the Board approves a shorter period under specific circumstances[59] - As of June 30, 2024, 25,629,891 stock options remain unexercised by grantees, with a weighted average exercise price of $0.07422 per share[64] - During the reporting period, no stock options were granted, and 220,188 options expired[64] - The 2021 Equity Incentive Plan allows for accelerated vesting in cases of death, disability, or uncontrollable events[59] - The exercise price for stock options granted to directors and senior management ranges from $0.07422 to $2.91 per share[64] - The 2021 Equity Incentive Plan permits mixed or accelerated vesting schedules, such as vesting evenly over 12 months[59] - Stock options can be exercised after vesting and before the expiration date[65] - Restricted stock units granted on January 19, 2024, with a fair value of $0.17 per unit[67] - Restricted stock units granted on March 22, 2024, with a fair value of $0.21 per unit[68] - Restricted stock units granted on June 3, 2024, with a fair value of $0.17 per unit[68] - 29,332,770 restricted stock units granted during the reporting period[67] - 9,362,539 restricted stock units exercised during the reporting period[67] - 2,080,000 restricted stock units unexercised as of the reporting period[67] - No performance targets attached to any restricted stock units granted during the reporting period[68] - The company granted 36,867,275 equity awards under the 2021 Equity Incentive Plan as of June 30, 2024[145] - The fair value of share awards granted in 2023 was $0.44, while for the first six months of 2024, it ranged from $0.17 to $0.21[146] - Kingsoft Cloud Holdings Limited was incorporated on January 3, 2012, in the Cayman Islands as an exempted company[178] - The company's American Depositary Shares (ADS) represent 15 ordinary shares each[178] - The reporting period for the interim report is the six months ended June 30, 2024[179] - Kingsoft Cloud's shares were listed on the Hong Kong Stock Exchange on December 30, 2022[179] - The company's primary shareholder is Xiaomi Group, listed on the Hong Kong Stock Exchange under the stock code 1810[180] - The company's financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP)[180] - Kingsoft Cloud's subsidiaries and consolidated affiliated entities are controlled through contractual arrangements[178] - The company's shares are denominated in

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Kingsoft Cloud Holdings Limited 金山云控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3896） （納斯達克股票代碼：KC） 內幕消息 截至二零二四年六月三十日止三個月的 未經審核財務業績 本公告乃根據香港聯合交易所有限公司證券上市規則第13.09條及證券及期貨條例 （第571章）第XIVA部刊發。 金山云控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司、 其子公司及併表聯屬實體（統稱「本集團」）根據美國證券交易委員會（「美國證交 會」）適用規則刊發的截至二零二四年六月三十日止三個月未經審核簡明綜合業績 （「第二季度業績」）。 第二季度業績乃根據美利堅合眾國公認會計準則（「美國公認會計準則」）編製，其 有別於國際財務報告準則。 本公告附件一為本公司於二零二四年八月二十日（美國東部時間）就第二季度業績 刊發的新聞稿全文，其中部分內容可能構成 ...

Revenue and Profitability - Total revenue for the first half of 2024 reached RMB 3,667.5 million (USD 504.7 million), with public cloud service revenue at RMB 2,421.9 million (USD 333.3 million) and industry cloud service revenue at RMB 1,245.4 million (USD 171.4 million)[6] - Total revenue for 2024 was RMB 3,667,464 thousand (USD 504,660 thousand), with public cloud services contributing RMB 2,421,912 thousand (USD 333,266 thousand)[11] - Total revenue reached RMB 3,667.5 million (USD 504.7 million), a decrease of 0.9% YoY, primarily due to the reduction in CDN services, offset by strong growth in AI-related customer revenue[13] - Revenue from public cloud services increased by 4.7% YoY to RMB 2,421.9 million (USD 333.3 million), driven by growth in AI-related services[13] - Revenue from industry cloud services decreased by 10.1% YoY to RMB 1,245.4 million (USD 171.4 million), due to a focus on selected vertical industries and high-quality projects[13] - Revenue from public cloud services increased to RMB 2,421,912 million in 2024, up 4.7% from RMB 2,313,183 million in 2023[42] - Industry cloud services revenue decreased to RMB 1,245,400 million in 2024 from RMB 1,385,152 million in 2023, a decline of 10.1%[42] - Gross profit increased by 52.6% YoY to RMB 611.6 million (USD 84.2 million), with a gross margin of 16.7%, up from 10.8% in the same period of 2023[6] - Gross profit for 2024 was RMB 611,600 thousand (USD 84,159 thousand), an increase from RMB 400,791 thousand in 2023[11] - Gross profit increased significantly by 52.6% YoY to RMB 611.6 million (USD 84.2 million), with a gross margin of 16.7%, up from 10.8% in the same period last year[13] - Gross profit for the six months ended June 30, 2024, was RMB 611,600 thousand (USD 84,159 thousand), an increase from RMB 400,791 thousand in the same period of 2023[30] - Non-GAAP gross profit rose by 55.2% YoY to RMB 622.5 million (USD 85.7 million), with a non-GAAP gross margin of 17.0%, compared to 10.8% in 2023[6] - Adjusted EBITDA turned positive at RMB 93.8 million (USD 12.9 million), a significant improvement from RMB -191.9 million in the first half of 2023[6] - Adjusted EBITDA margin improved to 2.6%, up by 7.8 percentage points from -5.2% in the same period last year[6] - Non-GAAP EBITDA turned positive to RMB 93.8 million (USD 12.9 million), compared to a loss of RMB 191.9 million in the same period last year[14] - Normalized adjusted EBITDA (excluding gains/losses from property and equipment sales) was RMB 69.96 million (USD 9.6 million), compared to RMB -170.3 million in 2023[5] - Net loss decreased by 35.2% YoY to RMB 717.3 million (USD 98.7 million), with a net loss margin of -19.6%, down from -29.9% in 2023[5] - Non-GAAP net loss decreased to RMB 518.4 million (USD 71.3 million), with a non-GAAP net loss margin of -14.1%, compared to -19.7% in 2023[5] - Adjusted net loss (non-GAAP) improved to RMB 518.4 million (USD 71.3 million), down from RMB 727.4 million in the first half of 2023[5] - Net loss attributable to Kingsoft Cloud Holdings Limited for 2024 was RMB 712,586 thousand (USD 98,056 thousand)[12] - Net loss decreased significantly to RMB 717.3 million (USD 98.7 million) from RMB 1,107.1 million YoY, driven by reduced operating loss and foreign exchange fluctuations[14] - Net loss attributable to Kingsoft Cloud Holdings Limited for the six months ended June 30, 2024, was RMB 712,586 thousand (USD 98,056 thousand), compared to RMB 1,106,333 thousand in the same period of 2023[30] - Net loss attributable to Kingsoft Cloud Holdings Limited shareholders decreased to RMB 692,343 thousand (USD 95,270 thousand) in the first half of 2024, compared to RMB 897,537 thousand in 2023[31] - Net loss attributable to ordinary shareholders for the six months ended June 30, 2024 was RMB (712,586), a decrease from RMB (1,106,333) in the same period of 2023[50] - Basic and diluted loss per share for the six months ended June 30, 2024 was RMB (0.20), compared to RMB (0.31) for the same period in 2023[50] - Weighted average number of ordinary shares outstanding for basic and diluted loss per share calculation was 3,632,583,338 for the six months ended June 30, 2024, compared to 3,547,111,168 in 2023[50] Operational Efficiency and Costs - Operating loss for 2024 was RMB 551,726 thousand (USD 75,921 thousand), a significant improvement from RMB 960,982 thousand in 2023[11] - Operating loss decreased to RMB 551.7 million (USD 75.9 million) from RMB 961.0 million YoY, reflecting improved operational efficiency[14] - Operating loss for the six months ended June 30, 2024, was RMB 551,726 thousand (USD 75,921 thousand), an improvement from RMB 960,982 thousand in the same period of 2023[30] - R&D expenses for the reporting period were RMB 435.9 million (USD 60.0 million), with 1,186 R&D personnel as of June 30, 2024[9] - The company's total number of employees is 11,311, with 80.7% (9,132 employees) in solution development and services, 10.5% (1,186 employees) in R&D, 5.7% (648 employees) in general and administrative functions, and 3.1% (345 employees) in sales and marketing[21] - Net cash used in operating activities was RMB 170,167 thousand (USD 23,415 thousand) in the first half of 2024, an improvement from RMB 206,157 thousand in 2023[34] - Net cash used in investing activities increased significantly to RMB 1,823,846 thousand (USD 250,970 thousand) in the first half of 2024, compared to net cash provided by investing activities of RMB 576,486 thousand in 2023[34] - The company's accumulated deficit reached RMB 13,027,627 thousand (USD 1,792,661 thousand) as of June 30, 2024, with a net current liability position of RMB 1,181,377 thousand (USD 162,563 thousand)[37] - Kingsoft Cloud Holdings Limited had cash, cash equivalents, and restricted cash of RMB 2,096,404 thousand (USD 288,475 thousand) as of June 30, 2024[37] - Cash and cash equivalents decreased by 18.5% to RMB 1,837.8 million (USD 252.9 million) as of June 30, 2024, compared to December 31, 2023[15] - Cash and cash equivalents decreased to RMB 1,837,757 thousand (USD 252,884 thousand) as of June 30, 2024, from RMB 2,255,287 thousand at the end of 2023[32] - Total liabilities increased to RMB 9,759,174 thousand (USD 1,342,907 thousand) as of June 30, 2024, compared to RMB 7,824,374 thousand at the end of 2023[33] - Capital-to-debt ratio increased to 66.0% as of June 30, 2024, up from 36.2% as of December 31, 2023[17] - Accounts payable as of June 30, 2024 were RMB 1,980,088 (USD 272,469), an increase from RMB 1,805,083 as of December 31, 2023[51] - Accounts payable aged over 1 year increased to RMB 899,056 (USD 123,714) as of June 30, 2024, compared to RMB 717,320 as of December 31, 2023[51] Cloud Services and AI - The company's cloud products include unified IaaS, PaaS, SaaS, AI capabilities, and development services, with a focus on cloud computing, storage, and distribution[7] - The company has designed industry-specific solutions for verticals such as internet, public services, healthcare, and financial services, leveraging deep industry insights[7] - The company plans to continue advancing high-quality sustainable development and focus on AI to enhance strategic customer service within the Xiaomi Kingsoft ecosystem[10] - Revenue from public cloud services increased by 4.7% YoY to RMB 2,421.9 million (USD 333.3 million), driven by growth in AI-related services[13] - Revenue from public cloud services increased to RMB 2,421,912 million in 2024, up 4.7% from RMB 2,313,183 million in 2023[42] Data Centers and Infrastructure - The company operates two data centers in China with approximately 100,000 servers and EB-level storage capacity as of June 30, 2024[8] - The Wuhan R&D center has grown to about 600 employees, accounting for over one-third of the company's R&D team, with 50% holding master's degrees[9] Financial and Legal Matters - The company entered into a financial leasing framework agreement with China Merchants Bank Financial Leasing Co., Ltd. on August 20, 2024, with a total leasing principal not exceeding RMB 300 million[27] - The company did not repurchase, sell, or redeem any of its listed securities during the reporting period and held no treasury shares as of June 30, 2024[23] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[27] - The company has no significant litigation or arbitration that could materially adversely affect its operations during the reporting period[24] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024, and agreed with the accounting policies and practices adopted by the company[26] - The company did not declare any dividends for the six months ended June 30, 2024 and 2023[51] - The interim results announcement was published on the Hong Kong Stock Exchange website (www.hkexnews.hk) and the company's website (ir.ksyun.com)[52] - The interim report for the six months ended June 30, 2024 will be published on the same websites and distributed to shareholders as needed[52] Investments and Equity - Total unrealized losses on equity investments, including impairments, amounted to RMB 16,026 million in 2024, compared to RMB 5,063 million in 2023[43] - Government subsidies decreased to RMB 4,735 million in 2024 from RMB 69,240 million in 2023[44] - Accounts receivable net of credit loss provisions increased to RMB 1,680,965 million in 2024 from RMB 1,529,915 million in 2023[44] - Trade receivables overdue for more than 1 year decreased to RMB 78,710 million in 2024 from RMB 141,371 million in 2023[45] - Corporate income tax expense (benefit) showed a benefit of RMB 8,480 million in 2024 compared to an expense of RMB 6,371 million in 2023[49] - Deferred tax benefits increased to RMB 34,064 million in 2024 from RMB 19,969 million in 2023[49] Assets and Liabilities - Total assets increased to RMB 16,460,960 thousand (USD 2,265,104 thousand) as of June 30, 2024, up from RMB 15,070,278 thousand at the end of 2023[32] - Total liabilities increased to RMB 9,759,174 thousand (USD 1,342,907 thousand) as of June 30, 2024, compared to RMB 7,824,374 thousand at the end of 2023[33] - The company has no significant investments or capital asset plans as of June 30, 2024[18]

但是其实刚才我向大家介绍了这个金像银的话,实际上你记住的这个收入增长只达到了3%,并且还以一币大转正,从历史上提升了9个百分点。所以我觉得这个里面的takeaway呢,就是说中国的银行可能跟美国的那边的情况还不是太一样,那就是虽然我们体量比较小,但是我们特别是面对了AI这种机遇。 我们非常敏捷所以我们AI的收入增长更快占比更高对吧所以这个是我们的优势所在就并不一定说至少我们看一看一季度的财务数据和财务的表现并不一定说强者很强或者大者很大或者有点小规模的人才就没有生存的机会我觉得这个是第一点然后第二点我们看了一下有一些我们的友商也明确提出他们是叫做聚焦公有云并且是大幅的退出行业云的市场如果大家看我们的财务报表的话是两部分 叫做这个Public Cloud和Enterprise Cloud那Public Cloud呢就是中文翻译叫公有云Enterprise Cloud呢就翻译成这个行业云所以我们有时候是说它就聚焦于这个公有云市场大幅度是行业云市场是不是说这个行业云市场没得做这个我不是特别同意因为我们金山云这边的情况实际上是两条回头路这个事实上我们的这个Enterprise Cloud这块平均的这个毛利率是相当好的 ...

Summary of Conference Call Company and Industry - The discussion revolves around **Kingsoft Cloud** and its performance in the **cloud computing industry** in China. Core Points and Arguments - **Revenue Growth**: Kingsoft Cloud reported a **3% increase in revenue** for the last quarter, indicating a positive trend in financial performance [1]. - **Profitability Improvement**: The company achieved a significant turnaround, with profitability improving to a **100% positive margin**, marking a historical increase of **9 percentage points** [1]. - **Market Comparison**: There is a notable distinction between the Chinese banking sector and the U.S. banking situation, suggesting that while the scale may be smaller in China, there are unique opportunities, particularly in the context of **AI advancements** [1]. Other Important Content - The emphasis on the **AI opportunity** highlights the potential for growth and innovation within the Chinese market, which may differ from trends observed in the U.S. [1].

2024年5月26日 公司研究 1Q24 调整 EBITDA 首次转正，成立全资子公司积极把握 AI 发展机遇 —— 金山云（3896.HK）1Q24 业绩点评 要点 增持（维持） 当前价：1.54港元 事件：公司发布 1Q24 业绩，实现收入 17.8 亿元，同比下滑 4.8%，主要系 公司主动缩减 CDN 业务规模以及更严格地筛选行业云项目，但部分被 AI 收 入的增长抵消。1Q24 毛利率达 16.5%，同比/环比提升 6.1pcts/1.8pcts， 作者 实现了连续七个季度持续稳步提升，再创历史新高，主要受益于公有云业务 分析师：付天姿 收入结构优化、行业云项目质量提升及有效的成本控制。1Q24 归母净亏损 执业证书编号：S0930517040002 3.6亿元，经调整EBITDA首次转正，对应经调整EBITDA利润率1.9%。 021-52523692 futz@ebscn.com 持续赋能小米&金山生态，1Q24 AI收入保持强势增长。1Q24公有云实现收 入11.9亿元，同比/环比提升2.9%/12.9%，主要受益于AI收入提升。1Q24 联系人：黄铮 公司在 AI 业务、生态系统赋能、CDN ...

金山云 年第一季度业绩交流 原文 24 240522_ 2024年05月23日09:51 发言人1 00:00 无效无效无效无效无效无效无效无效。 发言人1 00:22 无效。今天。 发言人2 00:26 今天。 发言人1 00:30 无效。 发言人1 00:40 哎呦。 发言人1 00:47 无效。 ...

Financial Performance - For Q1 2024, Kingsoft Cloud reported total revenue of RMB 1,775.7 million (approximately USD 245.91 million), a 3.1% increase from RMB 1,722.5 million in Q4 2023, but a 4.8% decrease from RMB 1,864.4 million in Q1 2023[4] - Adjusted EBITDA turned positive at RMB 33.2 million, representing a margin of 1.9%, compared to a loss of RMB 130.5 million in Q1 2023[3] - Adjusted gross profit increased by 53.8% year-over-year to RMB 299.1 million, with an adjusted gross margin of 16.8%, up 6.4 percentage points from 10.4% in Q1 2023[3] - Gross profit was RMB 293.3 million (USD 40.6 million), a significant increase of 51.0% compared to RMB 194.2 million in the same period of 2023, indicating improved revenue quality[6] - Gross margin improved to 16.5%, up from 10.4% in the same period of 2023[6] - Operating loss narrowed to RMB 274.2 million (USD 38.0 million), significantly improved from RMB 342.7 million in the previous quarter and RMB 597.9 million in the same period of 2023[6] - Net loss was RMB 363.6 million (USD 50.4 million), compared to RMB 286.8 million in the previous quarter and RMB 608.8 million in the same period of 2023[6] - Non-GAAP net loss was RMB 217.3 million (USD 30.1 million), down from RMB 250.4 million in the previous quarter and RMB 412.5 million in the same period of 2023[8] - Non-GAAP EBITDA was RMB 33.2 million (USD 4.6 million), improving from RMB -27.7 million in the previous quarter and RMB -130.5 million in the same period of 2023[8] Revenue Breakdown - Public cloud service revenue rose by 12.9% quarter-over-quarter to RMB 1,187.4 million, driven by increased contributions from AI-related customers[4] - AI-related revenue accounted for approximately 13% of public cloud service revenue in Q1 2024, up from 8% in the previous quarter[3] - Industry cloud service revenue decreased by 12.3% quarter-over-quarter to RMB 588.2 million, and down 17.2% year-over-year from RMB 710.0 million[4] Cost Management - Operating costs decreased by 11.2% year-over-year to RMB 1,482.4 million, with significant reductions in internet data center costs[4] - Total operating expenses decreased to RMB 567.4 million (USD 78.6 million), down from RMB 595.9 million in the previous quarter and RMB 792.1 million in the same period of 2023[6] Research and Development - Research and development expenses increased to RMB 232.0 million (USD 32.1 million), compared to RMB 175.2 million in the previous quarter and RMB 215.4 million in the same period of 2023[6] Cash and Assets - Cash and cash equivalents as of March 31, 2024, were RMB 1,811.7 million (USD 250.9 million), down from RMB 2,255.3 million as of December 31, 2023[8] - As of March 31, 2024, total assets amounted to RMB 15,952,480 thousand, an increase from RMB 15,070,278 thousand as of December 31, 2023, reflecting a growth of approximately 5.85%[15] - Cash and cash equivalents decreased to RMB 1,811,739 thousand from RMB 2,255,287 thousand, representing a decline of about 19.7%[15] - Total liabilities increased to RMB 8,944,691 thousand as of March 31, 2024, up from RMB 7,824,374 thousand, indicating a rise of approximately 14.3%[16] - The company's equity decreased to RMB 7,007,789 thousand from RMB 7,245,904 thousand, a decline of about 3.3%[16] - Accounts receivable net amount increased to RMB 1,649,807 thousand from RMB 1,529,915 thousand, showing a growth of approximately 7.8%[15] - The company reported a total of RMB 6,238,190 thousand in current assets as of March 31, 2024, compared to RMB 6,098,124 thousand, marking an increase of about 2.3%[15] - Short-term bank loans rose to RMB 1,218,629 thousand from RMB 1,110,896 thousand, reflecting an increase of approximately 9.7%[16] - The company’s goodwill remained stable at RMB 4,605,724 thousand as of both reporting dates[15] - Non-current liabilities increased significantly to RMB 1,909,498 thousand from RMB 995,784 thousand, indicating a rise of approximately 91.7%[16] - The company’s restricted cash increased to RMB 279,021 thousand from RMB 234,194 thousand, representing a growth of about 19.1%[15] Sustainability and ESG - The company has invested billions of RMB in AI over the past year, focusing on optimizing its business portfolio and controlling costs[3] - Kingsoft Cloud released its fourth ESG report since its IPO in 2020, highlighting its commitment to sustainable development[3] - The company emphasizes profitability and sustainability in its selected verticals, including public cloud services, state-owned cloud, healthcare, and financial services[4]

| --- | --- | |-----------------------------------------------------------------------------------------------------|-------| | | | | | | | | | | Kingsoft Cloud Holdings Limited 金山云控股有限公司 股份代號 : 3896 （於開曼群島註冊成立的有限公司） | | 目 錄 | --- | --- | |-------|--------------------| | | | | 2 | 公司資料 | | 4 | 主要摘要 | | 8 | 業務回顧及展望 | | 11 | 管理層討論與分析 | | 15 | 董事會報告 | | 44 | 董事及高級管理層 | | 48 | 企業管治報告 | | 67 | 其他資料 | | 83 | 獨立審計師報告 | | 89 | 合併資產負債表 | | 92 | 合併綜合虧損表 | | 94 | 合併股東權益變動表 | | 97 | 合併現金流量表 | | 100 | 合併財務報表附註 | | 168 | ...

2024年3月22日 公司研究 4Q23 AI 收入环比提升显著，2024 年经调整 EBITDA 有望实现转正 —— 金山云（3896.HK）4Q23 及 2023 年度业绩点评 要点 增持（维持） 当前价：1.86港元 事件：公司发布4Q23及2023全年业绩, 2023全年公司收入70.5亿元，同 比下降 13.8%，主要系公司主动缩减 CDN 业务规模以及更严格地筛选行业 云项目。23 全年公司实现毛利率 12.1%，同比显著提升 6.8pcts，其中 作者 4Q23 毛利率达到 14.7%，实现连续 6 个季度持续提升，主要受益于收入结 分析师：付天姿 构优化及有效的成本控制。2023全年实现归母净亏损21.8亿元，相比2022 执业证书编号：S0930517040002 年26.9亿元的亏损明显收窄。 021-52523692 futz@ebscn.com 持续深化小米&金山生态战略合作，4Q23 AI收入环比提升显著。4Q23公有 云实现收入 10.5 亿元，同比下降 21.7%，主要由于公司继续缩减 CDN 业务 联系人：黄铮 规模并优化客户结构，4Q23 公司 CDN 业务占总营收比例已降至 ...