KINGSOFT(03888) 智通财经网·2025-04-02 02:21Group 1 - Kingsoft Cloud's stock rose over 4%, reaching HKD 7.47 with a trading volume of HKD 240 million [1] - In Q4 2024, Kingsoft Cloud achieved revenue of RMB 2.2 billion, a year-on-year increase of 30%, exceeding expectations; adjusted operating profit was RMB 24.37 million, marking the first positive result with a profit margin of 1.1% [1] - The adjusted net loss for Q4 2024 was RMB 70.3 million, with a loss rate of 3.1%, which was better than expected [1] - For the full year 2024, Kingsoft Cloud's revenue was RMB 7.8 billion, a year-on-year increase of 10.5%, with an adjusted net loss of RMB 830 million, corresponding to a loss rate of 11%, narrowing by 8 percentage points year-on-year [1] Group 2 - In Q4 2024, public cloud service revenue was RMB 1.4 billion, a year-on-year increase of 34%, driven by growth in AI cloud business [1] - AI cloud business revenue in Q4 2024 grew approximately 500% year-on-year to RMB 470 million, achieving triple-digit year-on-year growth for six consecutive quarters [1] - The proportion of AI cloud revenue in public cloud services increased to 34%, up 26 percentage points year-on-year and 3 percentage points quarter-on-quarter, while its share of total revenue rose to 21% [1] Group 3 - Kingsoft Cloud is a core cloud provider for Xiaomi and Kingsoft Software Group, benefiting directly from their increased investment in AI [2] - Revenue from Xiaomi and Kingsoft Software Group grew by 76% year-on-year in Q4 2024 [2] - A strategic framework agreement was renewed with Xiaomi and Kingsoft Software Group, setting annual service caps of RMB 2.8 billion, RMB 3.7 billion, and RMB 4.8 billion for 2025-2027, representing year-on-year growth of 41%, 35%, and 29% respectively [2] - Kingsoft Cloud signed a financing service framework with Xiaomi to ensure capital expenditure [2]