智通财经网·2025-08-22 08:17Core Viewpoint - The report from CMB International indicates that Kingsoft Corporation (03888) faced revenue pressure in Q2 due to high base effects from key games, leading to a decline in profit margins impacted by decreased revenue and increased costs related to AI investments and new game marketing [1] Group 1: Financial Performance - Kingsoft's game revenue and profit forecasts have been downgraded for the year, with the target price reduced from HKD 46 to HKD 42 while maintaining a "Buy" rating [1] - Initial data from the launch of "Limitless Machine" fell short of expectations, although it signifies progress in new categories and global expansion [1] Group 2: Business Segments - The office business continues to show robust growth, with AI monthly active users reaching nearly 30 million, a year-on-year increase of 50% [1] - It is anticipated that the office segment will continue to grow rapidly in the second half of the year, solidifying its leading position in knowledge document office scenarios [1]