Financial Performance - Revenue for the year ended December 31, 2023, was RMB 7,047,461 thousand, a decrease of 13.8% compared to RMB 8,180,107 thousand in 2022[2] - Gross profit for the same period was RMB 850,169 thousand, representing a significant increase of 97.9% from RMB 429,538 thousand in 2022[2] - Net loss attributable to Kingsoft Cloud Holdings Limited was RMB 2,658,184 thousand, an increase of 18.1% compared to RMB 2,176,340 thousand in 2022[2] - Adjusted gross profit for 2023 was RMB 859,926 thousand, with an adjusted gross margin of 12.2%, up from 5.4% in 2022[5] - Adjusted net loss for 2023 was RMB 1,291,121 thousand, with an adjusted net loss margin of 18.3%, improved from 24.4% in 2022[6] - Adjusted EBITDA for 2023 was RMB (265,064) thousand, with an adjusted EBITDA margin of 3.8%, compared to (754,958) thousand and 9.2% in 2022[6] - The company reported a decrease in pre-tax loss of 18.7% from RMB (2,663,915) thousand in 2022 to RMB (2,165,688) thousand in 2023[2] - Operating loss was RMB 2,108.6 million (USD 297.0 million), an improvement from RMB 2,251.4 million in 2022[17] - Net loss was RMB 2,183.6 million (USD 307.6 million), compared to a net loss of RMB 2,688.4 million in 2022[17] - The company reported a total comprehensive loss attributable to shareholders of RMB (2,074,072) for the year ended December 31, 2023, compared to RMB (1,997,228) in the previous year, marking a 3.9% increase in losses[35] Revenue Breakdown - Total revenue for fiscal year 2023 reached RMB 7,047.5 million (USD 992.6 million), a decrease from RMB 8,180.1 million in 2022[14] - Public cloud service revenue was RMB 4,381.7 million (USD 617.2 million), while industry cloud service revenue was RMB 2,664.0 million (USD 375.2 million)[14] - Revenue from public cloud services was RMB 4,381,741 (USD 617,155) for the year ended December 31, 2023[48] Expenses and Costs - Research and development expenses for 2023 amounted to RMB 784.8 million, with a total of 1,243 R&D personnel as of December 31, 2023[11] - Capital expenditures totaled RMB 1,964.7 million (USD 276.7 million) in 2023, focusing on enhancing generative AI computing capabilities[10] - Sales and marketing expenses decreased to RMB 460.2 million (USD 64.8 million) from RMB 560.1 million in 2022[17] - The company’s total operating costs for the year were RMB 6,197,292 thousand, an increase from RMB 7,750,569 thousand in the previous year, reflecting a rise of approximately 12.5%[34] Assets and Liabilities - Cash and cash equivalents amounted to RMB 2,255.3 million (USD 317.7 million), a decrease of 34.0% from RMB 3,419.2 million as of December 31, 2022[19] - Total assets as of December 31, 2023, amounted to RMB 15,070,278, a decrease of 13.0% from RMB 17,316,231 in the previous year[36] - The total liabilities increased slightly to RMB 7,824,374 from RMB 7,732,732, reflecting a 1.2% rise[37] - The total equity attributable to shareholders decreased to RMB 6,890,152 from RMB 8,801,020, a decline of 21.6%[37] - Accounts payable as of December 31, 2023, totaled RMB 1,805,083, a decrease of approximately 21.6% from RMB 2,301,958 in 2022[58] Strategic Focus - The company plans to continue focusing on product development and market expansion strategies to improve financial performance in the upcoming periods[3] - The company aims to maintain strict control over costs and expenditures to improve operational efficiency and profitability[13] - The company has expanded its business scope into selected vertical industries, including internet, public services, healthcare, gaming, AI, and financial services[9] Governance and Compliance - The company has fully complied with the corporate governance code as per the Hong Kong Stock Exchange during the reporting period[26] - The audit committee reviewed the unaudited annual results for the year ended December 31, 2023, ensuring compliance with accounting policies[29] - The company has adopted an insider trading policy to regulate all transactions by directors and employees, ensuring compliance with the standard code[27] Other Financial Metrics - The company did not recommend the distribution of a final dividend for the year ended December 31, 2023[31] - Basic and diluted loss per share for 2023 was RMB 0.61, down from RMB 0.73 in 2022, reflecting an improvement of about 16.4%[56] - The company did not declare any dividends for the years ended December 31, 2023, and 2022[57] - The company reported a net cash used in operating activities for the year ended December 31, 2023, was RMB (169,070), compared to RMB 188,974 in the previous year, indicating a significant shift in cash flow[38]
金山云(03896) - 2023 - 年度业绩