Workflow
KINGSOFT CLOUD(KC)
icon
Search documents
KINGSOFT CLOUD(KC) - 2024 Q3 - Earnings Call Transcript
2024-11-19 15:34
Financial Data and Key Metrics Changes - Company achieved total revenue of RMB1.89 billion, reflecting a 16% year-over-year increase, marking a return to double-digit growth [15][36] - Adjusted gross profit reached RMB308 million, up 56.7% year-over-year, with an adjusted gross margin of 16.3% [15][38] - Adjusted EBITDA reached RMB185 million, with an adjusted EBITDA margin of 9.8%, showing a significant year-over-year increase of 13 percentage points [10][16] - Net operating cash inflow amounted to RMB228 million, demonstrating strong cash-generating ability from operating activities [16][32] Business Line Data and Key Metrics Changes - Public cloud services revenue reached RMB1.18 billion, representing a year-on-year increase of 16% [17][36] - AI revenue surged to RMB362 million, accounting for 31% of public cloud revenues, with triple-digit year-over-year growth for five consecutive quarters [11][29] - Enterprise cloud services revenue amounted to RMB710 million, up 16.7% year-over-year, driven by increased demand in selected verticals [20][36] Market Data and Key Metrics Changes - Revenue contribution from Xiaomi and Kingsoft ecosystem increased by 36% year-over-year, with the ecosystem clients contributing 28% of public cloud revenue [13][30] - Company’s market share has steadily increased amid a decline in market share for other Internet cloud service providers [14] Company Strategy and Development Direction - Company continues to focus on high-quality and sustainable development strategy, enhancing profitability and cash-generating capabilities [25][41] - Emphasis on AI transformation and collaboration with Xiaomi and Kingsoft ecosystem to capitalize on growth opportunities [12][25] - Plans to explore new AI business models and deepen cooperation with ecosystem partners [12][25] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential from the Xiaomi and Kingsoft ecosystem, driven by strong AI opportunities [45][47] - Anticipated continued improvement in profitability and market share, with a focus on AI and cloud demand [33][35] - Guidance for Q4 2024 indicates expectations for accelerated revenue growth and improved profitability [33][34] Other Important Information - Company has secured additional CapEx resources for AI investments, applying for a cap of RMB11.3 billion for the next three years from related party transactions [59][60] - Strong liquidity position with cash and cash equivalents totaling RMB1,617.9 million [40] Q&A Session Summary Question: Growth potentials of strategic customers and service strategy - Management highlighted the rapid growth of business opportunities from the Xiaomi and Kingsoft ecosystem, supported by strong AI-related functions and customer demand [45][46] Question: Outlook on adjusted EBITDA margin and operating margin - Management noted significant expansion in gross margin and EBITDA margin, with expectations for continued improvement in operating profit [48][50] Question: Margin profile of AI business and revenue from Xiaomi and Kingsoft Group - Management indicated that AI-related products deliver higher gross margins compared to traditional public cloud services, with both segments achieving double-digit growth [54][56] Question: Outlook for CapEx for this year and next year - Management confirmed secured CapEx resources and plans to utilize funding from shareholders to support AI business growth without diluting public shareholders [59][60]
Kingsoft Cloud (KC) Shares Surge Over 24% Following Financing Leasing Agreement
Gurufocus· 2024-10-02 15:51
Core Viewpoint - Kingsoft Cloud's shares increased by over 24% following the announcement of a financing lease agreement, indicating positive market sentiment and potential growth opportunities for the company [1] Company Summary - Kingsoft Cloud's stock is currently trading at $3.968 per share, with a market capitalization exceeding $940 million, reflecting strong investor interest [1] - The company has entered into a financing lease agreement with Cinda Financial Leasing, which will provide financing lease services to Kingsoft Cloud (Qingyang) Data [1] - The total financing amount under the agreement is capped at 300 million RMB, which will be used for leasing servers and related accessories such as CPUs, hard drives, and data cables [1]
KINGSOFT CLOUD(KC) - 2024 Q2 - Earnings Call Transcript
2024-08-20 22:28
Kingsoft Cloud Holdings Limited (NASDAQ:KC) Q2 2024 Earnings Conference Call August 20, 2024 8:15 AM ET Company Participants Nicole Shan - IR Manager Tao Zou - Vice Chairman & CEO Haijian He - CFO Conference Call Participants Xiaodan Zhang - CICC Timothy Zhao - Goldman Sachs Operator Good day, and thank you for standing by. Welcome to the Kingsoft Cloud's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a ...
KINGSOFT CLOUD(KC) - 2024 Q1 - Earnings Call Transcript
2024-05-22 23:34
Financial Data and Key Metrics Changes - Total revenues for Q1 2024 reached RMB1.78 billion, increasing by 3.1% quarter-over-quarter [6][19] - Adjusted gross profit for the quarter was approximately RMB300 million, marking a 54% year-over-year increase [7][21] - Adjusted EBITDA turned positive for the first time, reaching RMB33.19 million with an adjusted EBITDA margin of 1.9%, improving by 8.9 percentage points year-over-year [6][19] Business Line Data and Key Metrics Changes - Public cloud services revenues were RMB1.19 billion, up 12.9% quarter-over-quarter, with AI revenue surging to RMB160 million, a 93% increase quarter-over-quarter [7][19] - Enterprise cloud services revenues amounted to RMB590 million, reflecting a decrease from RMB670.3 million in the previous quarter due to fewer project deliveries during the Chinese New Year [19][20] Market Data and Key Metrics Changes - Revenues from the Xiaomi and Kingsoft ecosystem contributed 19% to total revenues, an increase of 4 percentage points year-over-year [8] - CDN revenue remained stable, accounting for 23% of total revenues, with ongoing efforts to enhance profitability through high value-added product sales [9] Company Strategy and Development Direction - The company is focused on high-quality and sustainable development, emphasizing high-margin products and services, particularly in AI [15][24] - Kingsoft Cloud has established Kingsoft AI as a wholly-owned subsidiary to capitalize on opportunities in intelligent digital transformation [9][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of profitability improvements, citing better revenue mix and operational efficiency as key drivers [28][30] - The company anticipates continued growth in AI revenue and plans to invest significantly in infrastructure and technology to support this growth [36][38] Other Important Information - As of March 31, 2024, cash and cash equivalents stood at RMB1.8 billion, providing liquidity for operations and investments [23] - The company was recognized in S&P Global's Sustainable Yearbook and received a single A rating in MSCI ESG ratings, highlighting its commitment to corporate responsibility [24] Q&A Session Summary Question: Expectations for adjusted EBITDA margin improvement and coping with aggressive pricing strategies - Management expects continued improvement in EBITDA margins driven by better revenue mix and operational efficiency, with no numeric guidance provided [28][30] Question: Drivers of significant AI revenue growth and CapEx guidance - AI revenue growth is attributed to diversified client demand and ongoing investments, with total investment in AI expected to multiply compared to the current quarter [36][38]
Kingsoft Cloud Announces Unaudited First Quarter 2024 Financial Results
Newsfilter· 2024-05-22 12:12
Core Viewpoint - Kingsoft Cloud Holdings Limited reported a significant improvement in its financial performance for Q1 2024, achieving profitability in adjusted EBITDA and a sequential increase in revenue, driven primarily by growth in AI-related services. Financial Performance - Total revenues for Q1 2024 reached RMB1,775.7 million (US$245.91 million), a 3.1% increase from RMB1,722.5 million in Q4 2023, but a 4.8% decrease from RMB1,864.4 million in Q1 2023 [4][10]. - Adjusted EBITDA turned profitable at RMB33.2 million, with an adjusted EBITDA margin of 1.9%, compared to a loss of RMB130.5 million in Q1 2023 [2][11]. - Adjusted gross profit was RMB299.1 million, a 53.8% increase from RMB194.4 million in Q1 2023, with an adjusted gross margin of 16.8%, up from 10.4% in the same quarter last year [2][8]. Revenue Breakdown - Revenues from public cloud services increased by 12.9% quarter-over-quarter to RMB1,187.4 million (US$164.4 million) and by 2.9% year-over-year [5]. - Revenues from enterprise cloud services were RMB588.2 million (US$81.5 million), reflecting a decrease of 12.3% from the previous quarter and a 17.2% decline from Q1 2023 [5]. - AI-related revenue contributed approximately 13% of total revenues from public cloud services, up from 8% in the previous quarter [2]. Cost Management - Cost of revenues decreased significantly by 11.2% year-over-year to RMB1,482.4 million (US$205.3 million), primarily due to the scaling down of CDN services [6]. - Total operating expenses were RMB567.4 million (US$78.6 million), down from RMB595.9 million in the previous quarter and RMB792.1 million in Q1 2023 [8]. Profitability Metrics - Gross profit for Q1 2024 was RMB293.3 million (US$40.6 million), a 51.0% increase from RMB194.2 million in Q1 2023, with a gross margin of 16.5% [8][10]. - Net loss narrowed to RMB363.6 million (US$50.4 million) from RMB608.8 million in the same quarter of 2023 [10][11]. Cash Position - As of March 31, 2024, cash and cash equivalents were RMB1,811.7 million (US$250.9 million), down from RMB2,255.3 million at the end of 2023, primarily due to operational expenses and investments in computing power [11].
Kingsoft Cloud to Report First Quarter 2024 Financial Results on May 22, 2024
Newsfilter· 2024-05-09 11:19
BEIJING, May 09, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited (NASDAQ:KC) ("Kingsoft Cloud" or the "Company"), a leading independent cloud service provider in China, today announced that it will release its unaudited financial results for the first quarter 2024 ended March 31, 2024 before the open of U.S. markets on Wednesday, May 22, 2024. Kingsoft Cloud's management will host an earnings conference call on Wednesday May 22, 2024 at 8:15 am, U.S. Eastern Time (8:15 pm, Beijing/Hong Kong Time on ...
Kingsoft Cloud to Report First Quarter 2024 Financial Results on May 22, 2024
GlobeNewsWire· 2024-05-09 11:19
BEIJING, May 09, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited (NASDAQ: KC and HKEX: 3896) (“Kingsoft Cloud” or the “Company”), a leading independent cloud service provider in China, today announced that it will release its unaudited financial results for the first quarter 2024 ended March 31, 2024 before the open of U.S. markets on Wednesday, May 22, 2024. Kingsoft Cloud’s management will host an earnings conference call on Wednesday May 22, 2024 at 8:15 am, U.S. Eastern Time (8:15 pm, Beijing/H ...
KINGSOFT CLOUD(KC) - 2023 Q4 - Annual Report
2024-04-30 12:42
Exhibit 99.2 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------|-------| | | | | | | | Kingsoft Cloud Holdings Limited 金山云控股有限公司 (Incorporated in the Cayman Islands with limited liability) Stock Code : 3896 | | Contents 2 Company Information 4 Key Highlights 8 Business Review and Outlook 11 Management Discussion and Analysis 15 Directors' Report 44 Directors and Senior Management 48 Corporate Governance Report 67 ...
Kingsoft Cloud Files Annual Report on Form 20-F for Fiscal Year 2023 and Releases 2023 Environmental, Social and Governance Report
Newsfilter· 2024-04-30 10:28
BEIJING, April 30, 2024 (GLOBE NEWSWIRE) -- Kingsoft Cloud Holdings Limited ("we," "Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading independent cloud service provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission ("SEC") on April 30, 2024. The annual report can be accessed on the Company's investor relations website at http://ir.ksyun.com as well as the SEC's website at http://www.sec.go ...
KINGSOFT CLOUD(KC) - 2023 Q4 - Annual Report
2024-04-30 10:03
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 WASHINGTON, D.C. 20549 FORM 20-F For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...