Core Insights - Kingsoft Cloud (03896) reported Q3 2025 total revenue of RMB 2.478 billion, a year-on-year increase of 31.4% and a quarter-on-quarter increase of 5.5% [1] - Gross profit was approximately RMB 381 million, up 25.6% year-on-year [1] - Net loss narrowed to RMB 7.847 million, a 99.26% improvement year-on-year; non-GAAP net profit reached RMB 28.7 million, marking a turnaround from loss to profit [1] Revenue Growth - Revenue growth was primarily driven by the increasing income from AI-related clients due to the continuous upgrade of AI infrastructure and products [1] - Public cloud service revenue surged by 49.1% year-on-year to RMB 1.7523 billion [1] - AI business billing revenue reached RMB 782.4 million, reflecting a growth rate of approximately 120% [1] Profitability Improvement - Adjusted gross profit was RMB 392.6 million, a year-on-year increase of 27.6% and a quarter-on-quarter increase of 12.0% [1] - Adjusted EBITDA profit reached RMB 826.6 million, a year-on-year increase of 345.9% [1] - Adjusted EBITDA margin was 33.4%, up 23.6 percentage points year-on-year, attributed to improved cost and expense control [1] Strategic Developments - The company is optimistic about the rapid adoption of AI across ecosystems and various verticals, which is expected to create significant growth opportunities driven by AI [1] - Strategic cooperation with Xiaomi-Kingsoft ecosystem saw revenue contribution increase by 83.8% year-on-year to RMB 691 million [1] - The company has accelerated the expansion of intelligent computing in public cloud and is actively integrating AI with industry cloud strategies [1]

11月19日，金山云(NASDAQ:KC，HKEX:3896)发布2025年第三季度财报。季度内，公司人工智能战略 稳步落实，核心业务实现韧性增长。财报显示，金山云Q3营收24.8亿元，同比增长率由上季度的24%再 次提速至31%；智算云账单收入达7.8亿元，同比增长近120%，在公有云收入占比达45%。 季度内，公有云实现收入17.5亿元，行业云实现收入7.3亿元，均实现了同环比增长，其中公有云同比大 幅增长49%。调整后毛利润3.9亿元，同比增长28%；调整后经营利润扭亏为盈达1,536万元，调整后经 营利润率0.6%；调整后净利润首次实现盈利达2,873万元。 ...

Core Insights - Kingsoft Cloud reported a year-on-year revenue growth of 31.4%, reaching RMB 2,478.0 million in Q3 [1] - Public cloud service revenue increased by 49.1% year-on-year to RMB 1,752.3 million [1] - The AI business generated billing revenue of RMB 782.4 million, with a year-on-year growth rate of approximately 120% [1] Financial Performance - Adjusted gross profit for Q3 was RMB 392.6 million, reflecting a year-on-year increase of 27.6% and a quarter-on-quarter increase of 12.0% [1] - Adjusted EBITDA for Q3 reached RMB 826.6 million, showing a significant year-on-year growth of 345.9% [1] - The adjusted EBITDA margin for Q3 was 33.4%, which is an increase of 23.6 percentage points year-on-year [1]

Core Insights - The company reported a total revenue of RMB 2.478 billion for Q3 2025, representing a year-on-year increase of 31.4% and a quarter-on-quarter increase of 5.5% [1] - Gross profit reached approximately RMB 381 million, up 25.6% year-on-year [1] - The net loss narrowed significantly to RMB 7.847 million, a 99.26% improvement year-on-year, while non-GAAP net profit turned positive at RMB 28.7 million [1] Revenue Growth - Revenue growth was primarily driven by the increasing demand from AI-related clients as the company upgraded its AI infrastructure and products [1] - Public cloud service revenue surged by 49.1% year-on-year to RMB 1.7523 billion [1] - AI business billing revenue reached RMB 782.4 million, reflecting a growth rate of approximately 120% [1] Profitability Improvement - Adjusted gross profit was RMB 392.6 million, showing a year-on-year increase of 27.6% and a quarter-on-quarter increase of 12.0% [1] - Adjusted EBITDA profit soared to RMB 826.6 million, a year-on-year increase of 345.9%, with an adjusted EBITDA margin of 33.4%, up 23.6 percentage points year-on-year [1] - The company achieved adjusted operating profit of RMB 15.4 million, compared to a loss of RMB 140 million in the same quarter last year and a loss of RMB 166.4 million in the previous quarter [1] Strategic Partnerships - The strategic partnership with Xiaomi-Kingsoft ecosystem contributed significantly, with revenue from this ecosystem increasing by 83.8% year-on-year to RMB 691 million [1] - The integration of AI and cloud services is seen as a major market opportunity for the company, with optimism about rapid AI adoption across various verticals [1]

KINGSOFT CLOUD HOLDINGS LIMITED 金山云控股有限公司 董事會轄下的提名委員會章程 （Kingsoft Cloud Holdings Limited（金山云控股有限公司）董事會於 2022年12月20日通過，並於2025年11月19日修訂） 本章程（「章程」）有英文及繁體中文版本可供查閱。倘本章程英文及繁體中文版本 之間出現任何歧異，概以英文版本為準。 宗旨 提名委員會（「委員會」）由Kingsoft Cloud Holdings Limited（金山云控股有限公司） （「本公司」）的董事會（「董事會」）設立，根據當時生效的本公司組織章程細則及大 綱的規定： 1 • 至少每年檢討及評估董事會的架構、人數、組成（包括技能、知識及經驗）、 職能及職責是否與其需求一致，協助董事會編製董事會技能表，並就任何為 配合本公司的公司策略而擬對董事會作出的變動提出建議； • 向董事會及其委員會建議甄選候選人的標準，及物色符合有關標準、具備合 適資格可擔任董事的人士，包括對股東遞交的提名人的審議，並挑選提名有 關人士出任董事或就此向董事會提出建議； • 向董事會建議擬於下一屆股東週年大會或股東特別大 ...

Third Quarter 2025 Financial Results Total Revenues reached RMB2,478.0 million (US$348.1 million), increased by 31.4% year-over-year from RMB1,885.6 million in the same quarter of 2024 and increased by 5.5% quarter-over-quarter from RMB2,349.2 million in the second quarter of 2025. The increase was mainly due to the expanded revenue from AI related customers, with AI infrastructure and products keep upgrading. Revenues from public cloud services were RMB1,752.3 million (US$246.1 million), significantly incr ...

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 截至二零二五年九月三十日止三個月的 未經審計財務業績 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二零二五年九月三十日止三個月未經審計簡明合併業績 （「第三季度業績」）。 第三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二零二五年十一月十九日（美國東部時間）就第三季度業 績刊發的新聞稿全文，其中部分內容可能構 ...

Core Insights - Kingsoft Software celebrated its eighth anniversary in Wuhan, showcasing its commitment to the "Ten Thousand R&D Center" strategy proposed by Chairman Lei Jun [1][3] - The Wuhan R&D center plays a crucial role in Kingsoft's talent and technology layout in Central China, complementing its operations in Beijing and Zhuhai [3][5] Group 1 - The Wuhan headquarters has grown from a few hundred employees to nearly 4,000, contributing significantly to the development of core products like Kingsoft Office and Kingsoft Cloud [3][5] - Kingsoft has established deep collaborations with local universities, creating a strong talent attraction and retention ecosystem through training camps and targeted recruitment [5][7] Group 2 - The anniversary event featured performances from Kingsoft employees and students from four universities, providing an opportunity for students to engage with the company and understand career paths early [5][7] - Looking ahead, Kingsoft aims to enhance its investment in the Wuhan R&D center and deepen collaborations with local industries and universities to drive innovation in office software, big data, cloud computing, and artificial intelligence [7]

01 中信建投黄文涛：重构增长动能——2026年经济与市场展望【把握2026投资机会】 15:30-16:30 核心看点： 当前A股和港股正迈向"新四牛"上升走廊。在四方面力量的共同推动下，"新四牛"行情 将沿着上升通道逐步展开，中国股市的中枢将逐渐上移，预计2026年市场仍将延续"慢牛"格局。 嘉宾： 黄文涛丨中信建投证券首席经济学家 扫码预约 02 中金固收 | 混合型资产框架：可交债定转——中金固收2025债市宝典 15:30-16:30 核心看点： 固收资产的市场格局变化以及分析框架的最新应用及思考。 嘉宾 ：罗凡丨中金公司研究部固收分析师 扫码预约 03 中金李昭展望2026年全球资产配置：乘势而上【把握2026投资机会】 04 穿越科技周期的力量：用"固收+"思维做成长投资 16:00-17:00 核心看点： 2025年"固收+"市场热度不减，规模延续扩张态势。哪些资产将成为配置核心方向？绩 优基金经理如何管理成长风格的"固收+"产品？不妨以"固收+"为锚，"科技+制造成长"为主线，前 瞻布局高潜力科技赛道，手握穿越周期的稳健力量！ 嘉宾： 陈大烨丨鹏华基金混合资产投资部基金经理、权益投资负责人 ...

Core Viewpoint - The performance of popular Chinese concept stocks showed mixed results, with the Nasdaq Golden Dragon China Index increasing by 0.42% [1] Group 1: Stock Performance - iQIYI saw a significant increase, rising over 6% [1] - Baidu, Huya, and Kingsoft Cloud each rose by more than 2% [1] - Alibaba and NetEase experienced gains of over 1% [1] - Pinduoduo faced a notable decline, dropping 7.33%, marking its largest drop since May 27 [1] - Tiger Brokers fell by more than 2% [1] - NIO decreased by over 1% [1] - Li Auto and JD.com had slight declines [1]