Kingsoft Office(SH:688111)2021-04-29 16:00Financial Performance - In Q1 2021, Kingsoft Office reported a revenue of RMB 773.35 million, representing a year-on-year growth of 107.74%[4] - The net profit attributable to shareholders reached RMB 307.40 million, an increase of 178.65% compared to the same period last year[4] - The company's revenue for Q1 2021 reached RMB 773,353,031.70, representing a 107.74% increase compared to RMB 372,265,142.61 in the same period last year[13] - Net profit for Q1 2021 was RMB 327,346,392.35, a significant increase of 196.74% from RMB 110,314,478.53 in the previous year[13] - Total operating revenue for Q1 2021 reached ¥773,353,031.70, a significant increase of 107.5% compared to ¥372,265,142.61 in Q1 2020[22] - Net profit for Q1 2021 was ¥327,346,392.35, up from ¥110,314,478.53 in Q1 2020, representing a growth of 196.5%[23] - Operating profit for Q1 2021 was ¥361,014,980.51, significantly higher than ¥111,041,331.83 in Q1 2020, representing a growth of 225.5%[22] User Engagement - The number of monthly active users (MAU) for key products reached 494 million, a year-on-year increase of 10.51%[5] - Kingsoft Office's cloud and collaboration strategy has effectively enhanced user experience and increased market penetration[5] - The company continues to optimize product experiences for both individual and enterprise users, driving growth in subscription services[5] Research and Development - The R&D expenditure as a percentage of revenue decreased to 26.46%, down 13.10 percentage points from the previous year[4] - Research and development expenses rose by 38.94% to RMB 204,622,178.22, reflecting increased investment in innovation[13] - Research and development expenses increased to ¥204,622,178.22, compared to ¥147,275,989.57 in the same period last year, marking a rise of 38.9%[22] Cash Flow and Liquidity - The net cash flow from operating activities for the period was RMB 228.27 million, a significant increase of 72.93% year-on-year[4] - The company reported a net cash flow from operating activities of RMB 228,268,790.07, up 72.93% from RMB 131,997,280.26 in the previous year[13] - Cash and cash equivalents increased by 148.18% to RMB 2,490,530,794.37 from RMB 1,003,504,128.73 at the beginning of the period[12] - Cash and cash equivalents at the end of Q1 2021 totaled RMB 2,486,829,929.87, up from RMB 848,898,761.67 at the end of Q1 2020[28] Assets and Liabilities - The company’s total assets increased significantly, with other non-current assets rising by 76.98% to RMB 37,800,924.30[12] - The total assets reached ¥8,871,988,713.88, up from ¥8,511,586,171.34, indicating an increase of about 4.23%[17] - The total liabilities amounted to ¥1,653,222,754.20, compared to ¥1,620,762,893.45, reflecting a slight increase of approximately 2.04%[18] - The total liabilities rose to ¥323,316,897.64, up from ¥264,050,303.04, indicating an increase of 22.4%[22] Strategic Initiatives - The company has expanded its commercial channel ecosystem, engaging over a thousand channel agents and office ecosystem service providers at its partner conference[5] - Kingsoft Office's advertising services are undergoing a strategic adjustment to align with its overall business direction[5] - The company plans to continue expanding its software licensing and subscription services, which have shown rapid growth[13] Tax and Expenses - The company experienced a 265.81% increase in tax and surcharges, amounting to RMB 7,338,054.85, due to a significant rise in VAT payable[13] - The company reported a tax expense of ¥33,258,795.10 for Q1 2021, compared to ¥726,853.30 in Q1 2020, indicating a substantial increase[22] Shareholder Information - The total number of shares held by the top ten unrestricted shareholders includes 32,183,712 shares held by Tianjin Qiwen Wuwei Enterprise Management Consulting Partnership[10] - The equity attributable to shareholders rose to ¥7,155,868,226.53 from ¥6,854,905,919.92, which is an increase of about 4.41%[18]