Kingsoft Office(SH:688111) Zhong Zheng Wang·2025-11-26 06:27Core Insights - Kingsoft Office has upgraded WPS 365 to a global one-stop AI collaboration platform, introducing new products such as WPS Lingxi Enterprise Edition and the "Qingzhou" engine, along with upgrades to its core AI products [1][2] - The vision for WPS 365 is to help organizations build a unique "enterprise brain" that acts as a knowledge container and digital employee carrier, addressing challenges like increased internal systems and data leakage risks [1][2] Product Development - The upgraded intelligent document library is crucial for the "enterprise brain" to "understand data," utilizing technologies like OCR, LLM, and NLP to convert scattered documents into reusable knowledge [3] - The digital employee has been upgraded to version 2.0, serving as an intelligent agent based on the company's private knowledge, facilitating communication and problem-solving [3] Market Performance - WPS 365 has served over one million enterprise clients, including more than 18,000 major government and enterprise clients across various industries, becoming a key growth driver for Kingsoft Office [4] - Since the revenue data for WPS 365 was first disclosed at the end of 2024, the business has shown rapid growth, with revenues of 151 million, 158 million, and 201 million yuan in the first three quarters of 2025, each achieving over 60% year-on-year growth, with the third quarter reaching 71.61% [4]