Kingsoft Office(SH:688111) Xin Lang Cai Jing·2025-08-20 23:57Core Viewpoint - Kingsoft Office reported a steady growth in revenue and net profit for the first half of 2025, driven by the increasing user base of its AI office assistant, WPS AI, which reached 29.51 million monthly active users [2][5]. Financial Performance - The company achieved an operating revenue of 2.657 billion yuan, a year-on-year increase of 10.12% [3]. - The net profit attributable to shareholders was 747 million yuan, up 3.57% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was 727 million yuan, reflecting a growth of 5.77% [3]. - The diluted earnings per share were 1.61 yuan, an increase of 3% compared to the previous year [2]. Cash Flow and R&D Investment - The net cash flow from operating activities was 738 million yuan, representing a year-on-year growth of 17.51% [4]. - R&D investment reached 958 million yuan, up 18.70% year-on-year, with a research expense ratio of approximately 36% [4]. - The number of R&D personnel totaled 3,533, an increase of 18.12%, accounting for about 66% of the total workforce [4]. Business Segments - Revenue from the WPS personal business was 1.748 billion yuan, a year-on-year increase of 8%, making up 66% of total revenue [4]. - Revenue from WPS 365 for organizational clients was 309 million yuan, a significant increase of 62%, accounting for 12% of total revenue [4]. - Revenue from WPS software business was 542 million yuan, a slight decrease of 2.08%, representing 20% of total revenue [4]. User Growth and Market Expansion - The monthly active users of WPS AI reached 29.51 million, up from 19.68 million at the end of 2024 [5]. - Domestic revenue from WPS personal business was 1.619 billion yuan, with a total of 41.79 million annual paying personal users, a growth of nearly 10% [5]. - The WPS 365 business maintained high growth, with a coverage rate of 75% in first-class universities and service to over 1,000 universities and 20 million teachers and students [5]. Shareholder Structure - The largest shareholder is Kingsoft WPS Corporation Limited, holding 238 million shares, accounting for 51.47% [6]. - The second-largest shareholder, Tianjin Qiwen Wuwei Enterprise Management Consulting Partnership, reduced its holdings by 4.03 million shares, now holding 17.93 million shares, or 3.87% [6]. - The third-largest shareholder, Hong Kong Central Clearing Limited, increased its holdings by 1.95 million shares, now holding 17.20 million shares, or 3.71% [6].