Ge Long Hui·2025-11-19 09:01Core Insights - Kingsoft Software (03888.HK) reported total revenue of RMB 2.42 billion for Q3 2025, a year-on-year decrease of 17% but a quarter-on-quarter increase of 5% [1] - The office software and services segment generated revenue of RMB 1.52 billion, reflecting a year-on-year growth of 26% and a quarter-on-quarter growth of 12% [1] - The gaming and other businesses reported revenue of RMB 900 million, showing a significant year-on-year decline of 47% and a quarter-on-quarter decline of 6% [1] Office Software and Services - The growth in the office software and services segment was primarily driven by the performance of WPS software, WPS 365, and personal WPS business [1] - Strong growth in WPS software was attributed to the boost from Xinchuang orders, while WPS 365's rapid growth was due to enhancements in collaboration and AI products, effectively expanding the customer base among private enterprises and local state-owned enterprises [1] - The personal WPS business saw steady growth through the promotion of new AI products and refined operations, leading to a steady increase in paid user numbers [1] - As of the end of September 2025, the global monthly active devices for WPS Office reached 669 million, a year-on-year increase of 9% [1] Gaming and Other Businesses - Revenue from the gaming and other businesses was RMB 897.9 million, reflecting a year-on-year decline of 47% and a quarter-on-quarter decline of 6% [1] - The decline was mainly due to a drop in revenue from several existing games, partially offset by contributions from newly launched games [1] Strategic Focus - The company will continue to focus on its core strategy of "AI, collaboration, and internationalization," leveraging its core product matrix to meet the full spectrum of needs from individuals to enterprises [2] - In the gaming sector, the focus will be on developing high-quality content and global distribution to promote sustainable growth and the emergence of new categories [2]