智通财经网·2025-08-25 08:13Core Viewpoint - The report from Jefferies indicates that Kingsoft Corporation (03888) reported weaker-than-expected revenue and adjusted operating profit for the second quarter, primarily due to underperformance in online gaming, partially offset by the performance of its office software business [1] Group 1: Financial Performance - Kingsoft's second-quarter revenue and adjusted operating profit fell short of expectations [1] - The underperformance in online gaming was a significant factor in the disappointing results [1] - The office software business showed some resilience, helping to mitigate the overall impact [1] Group 2: Management Insights - Management highlighted that the new game "Mecha BREAK" did not meet expectations and may require additional time for optimization [1] - Targeted strategies are being implemented in the office software segment to better meet user and enterprise needs [1] Group 3: Analyst Rating and Price Target - Jefferies maintains a "Buy" rating for Kingsoft Corporation [1] - The target price has been adjusted down from HKD 42.8 to HKD 40 due to the weaker gaming performance [1]