Revenue and Profitability - Total revenue for the first half of 2024 reached RMB 3,667.5 million (USD 504.7 million), with public cloud service revenue at RMB 2,421.9 million (USD 333.3 million) and industry cloud service revenue at RMB 1,245.4 million (USD 171.4 million)[6] - Total revenue for 2024 was RMB 3,667,464 thousand (USD 504,660 thousand), with public cloud services contributing RMB 2,421,912 thousand (USD 333,266 thousand)[11] - Total revenue reached RMB 3,667.5 million (USD 504.7 million), a decrease of 0.9% YoY, primarily due to the reduction in CDN services, offset by strong growth in AI-related customer revenue[13] - Revenue from public cloud services increased by 4.7% YoY to RMB 2,421.9 million (USD 333.3 million), driven by growth in AI-related services[13] - Revenue from industry cloud services decreased by 10.1% YoY to RMB 1,245.4 million (USD 171.4 million), due to a focus on selected vertical industries and high-quality projects[13] - Revenue from public cloud services increased to RMB 2,421,912 million in 2024, up 4.7% from RMB 2,313,183 million in 2023[42] - Industry cloud services revenue decreased to RMB 1,245,400 million in 2024 from RMB 1,385,152 million in 2023, a decline of 10.1%[42] - Gross profit increased by 52.6% YoY to RMB 611.6 million (USD 84.2 million), with a gross margin of 16.7%, up from 10.8% in the same period of 2023[6] - Gross profit for 2024 was RMB 611,600 thousand (USD 84,159 thousand), an increase from RMB 400,791 thousand in 2023[11] - Gross profit increased significantly by 52.6% YoY to RMB 611.6 million (USD 84.2 million), with a gross margin of 16.7%, up from 10.8% in the same period last year[13] - Gross profit for the six months ended June 30, 2024, was RMB 611,600 thousand (USD 84,159 thousand), an increase from RMB 400,791 thousand in the same period of 2023[30] - Non-GAAP gross profit rose by 55.2% YoY to RMB 622.5 million (USD 85.7 million), with a non-GAAP gross margin of 17.0%, compared to 10.8% in 2023[6] - Adjusted EBITDA turned positive at RMB 93.8 million (USD 12.9 million), a significant improvement from RMB -191.9 million in the first half of 2023[6] - Adjusted EBITDA margin improved to 2.6%, up by 7.8 percentage points from -5.2% in the same period last year[6] - Non-GAAP EBITDA turned positive to RMB 93.8 million (USD 12.9 million), compared to a loss of RMB 191.9 million in the same period last year[14] - Normalized adjusted EBITDA (excluding gains/losses from property and equipment sales) was RMB 69.96 million (USD 9.6 million), compared to RMB -170.3 million in 2023[5] - Net loss decreased by 35.2% YoY to RMB 717.3 million (USD 98.7 million), with a net loss margin of -19.6%, down from -29.9% in 2023[5] - Non-GAAP net loss decreased to RMB 518.4 million (USD 71.3 million), with a non-GAAP net loss margin of -14.1%, compared to -19.7% in 2023[5] - Adjusted net loss (non-GAAP) improved to RMB 518.4 million (USD 71.3 million), down from RMB 727.4 million in the first half of 2023[5] - Net loss attributable to Kingsoft Cloud Holdings Limited for 2024 was RMB 712,586 thousand (USD 98,056 thousand)[12] - Net loss decreased significantly to RMB 717.3 million (USD 98.7 million) from RMB 1,107.1 million YoY, driven by reduced operating loss and foreign exchange fluctuations[14] - Net loss attributable to Kingsoft Cloud Holdings Limited for the six months ended June 30, 2024, was RMB 712,586 thousand (USD 98,056 thousand), compared to RMB 1,106,333 thousand in the same period of 2023[30] - Net loss attributable to Kingsoft Cloud Holdings Limited shareholders decreased to RMB 692,343 thousand (USD 95,270 thousand) in the first half of 2024, compared to RMB 897,537 thousand in 2023[31] - Net loss attributable to ordinary shareholders for the six months ended June 30, 2024 was RMB (712,586), a decrease from RMB (1,106,333) in the same period of 2023[50] - Basic and diluted loss per share for the six months ended June 30, 2024 was RMB (0.20), compared to RMB (0.31) for the same period in 2023[50] - Weighted average number of ordinary shares outstanding for basic and diluted loss per share calculation was 3,632,583,338 for the six months ended June 30, 2024, compared to 3,547,111,168 in 2023[50] Operational Efficiency and Costs - Operating loss for 2024 was RMB 551,726 thousand (USD 75,921 thousand), a significant improvement from RMB 960,982 thousand in 2023[11] - Operating loss decreased to RMB 551.7 million (USD 75.9 million) from RMB 961.0 million YoY, reflecting improved operational efficiency[14] - Operating loss for the six months ended June 30, 2024, was RMB 551,726 thousand (USD 75,921 thousand), an improvement from RMB 960,982 thousand in the same period of 2023[30] - R&D expenses for the reporting period were RMB 435.9 million (USD 60.0 million), with 1,186 R&D personnel as of June 30, 2024[9] - The company's total number of employees is 11,311, with 80.7% (9,132 employees) in solution development and services, 10.5% (1,186 employees) in R&D, 5.7% (648 employees) in general and administrative functions, and 3.1% (345 employees) in sales and marketing[21] - Net cash used in operating activities was RMB 170,167 thousand (USD 23,415 thousand) in the first half of 2024, an improvement from RMB 206,157 thousand in 2023[34] - Net cash used in investing activities increased significantly to RMB 1,823,846 thousand (USD 250,970 thousand) in the first half of 2024, compared to net cash provided by investing activities of RMB 576,486 thousand in 2023[34] - The company's accumulated deficit reached RMB 13,027,627 thousand (USD 1,792,661 thousand) as of June 30, 2024, with a net current liability position of RMB 1,181,377 thousand (USD 162,563 thousand)[37] - Kingsoft Cloud Holdings Limited had cash, cash equivalents, and restricted cash of RMB 2,096,404 thousand (USD 288,475 thousand) as of June 30, 2024[37] - Cash and cash equivalents decreased by 18.5% to RMB 1,837.8 million (USD 252.9 million) as of June 30, 2024, compared to December 31, 2023[15] - Cash and cash equivalents decreased to RMB 1,837,757 thousand (USD 252,884 thousand) as of June 30, 2024, from RMB 2,255,287 thousand at the end of 2023[32] - Total liabilities increased to RMB 9,759,174 thousand (USD 1,342,907 thousand) as of June 30, 2024, compared to RMB 7,824,374 thousand at the end of 2023[33] - Capital-to-debt ratio increased to 66.0% as of June 30, 2024, up from 36.2% as of December 31, 2023[17] - Accounts payable as of June 30, 2024 were RMB 1,980,088 (USD 272,469), an increase from RMB 1,805,083 as of December 31, 2023[51] - Accounts payable aged over 1 year increased to RMB 899,056 (USD 123,714) as of June 30, 2024, compared to RMB 717,320 as of December 31, 2023[51] Cloud Services and AI - The company's cloud products include unified IaaS, PaaS, SaaS, AI capabilities, and development services, with a focus on cloud computing, storage, and distribution[7] - The company has designed industry-specific solutions for verticals such as internet, public services, healthcare, and financial services, leveraging deep industry insights[7] - The company plans to continue advancing high-quality sustainable development and focus on AI to enhance strategic customer service within the Xiaomi Kingsoft ecosystem[10] - Revenue from public cloud services increased by 4.7% YoY to RMB 2,421.9 million (USD 333.3 million), driven by growth in AI-related services[13] - Revenue from public cloud services increased to RMB 2,421,912 million in 2024, up 4.7% from RMB 2,313,183 million in 2023[42] Data Centers and Infrastructure - The company operates two data centers in China with approximately 100,000 servers and EB-level storage capacity as of June 30, 2024[8] - The Wuhan R&D center has grown to about 600 employees, accounting for over one-third of the company's R&D team, with 50% holding master's degrees[9] Financial and Legal Matters - The company entered into a financial leasing framework agreement with China Merchants Bank Financial Leasing Co., Ltd. on August 20, 2024, with a total leasing principal not exceeding RMB 300 million[27] - The company did not repurchase, sell, or redeem any of its listed securities during the reporting period and held no treasury shares as of June 30, 2024[23] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[27] - The company has no significant litigation or arbitration that could materially adversely affect its operations during the reporting period[24] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024, and agreed with the accounting policies and practices adopted by the company[26] - The company did not declare any dividends for the six months ended June 30, 2024 and 2023[51] - The interim results announcement was published on the Hong Kong Stock Exchange website (www.hkexnews.hk) and the company's website (ir.ksyun.com)[52] - The interim report for the six months ended June 30, 2024 will be published on the same websites and distributed to shareholders as needed[52] Investments and Equity - Total unrealized losses on equity investments, including impairments, amounted to RMB 16,026 million in 2024, compared to RMB 5,063 million in 2023[43] - Government subsidies decreased to RMB 4,735 million in 2024 from RMB 69,240 million in 2023[44] - Accounts receivable net of credit loss provisions increased to RMB 1,680,965 million in 2024 from RMB 1,529,915 million in 2023[44] - Trade receivables overdue for more than 1 year decreased to RMB 78,710 million in 2024 from RMB 141,371 million in 2023[45] - Corporate income tax expense (benefit) showed a benefit of RMB 8,480 million in 2024 compared to an expense of RMB 6,371 million in 2023[49] - Deferred tax benefits increased to RMB 34,064 million in 2024 from RMB 19,969 million in 2023[49] Assets and Liabilities - Total assets increased to RMB 16,460,960 thousand (USD 2,265,104 thousand) as of June 30, 2024, up from RMB 15,070,278 thousand at the end of 2023[32] - Total liabilities increased to RMB 9,759,174 thousand (USD 1,342,907 thousand) as of June 30, 2024, compared to RMB 7,824,374 thousand at the end of 2023[33] - The company has no significant investments or capital asset plans as of June 30, 2024[18]

但是其实刚才我向大家介绍了这个金像银的话,实际上你记住的这个收入增长只达到了3%,并且还以一币大转正,从历史上提升了9个百分点。所以我觉得这个里面的takeaway呢,就是说中国的银行可能跟美国的那边的情况还不是太一样,那就是虽然我们体量比较小,但是我们特别是面对了AI这种机遇。 我们非常敏捷所以我们AI的收入增长更快占比更高对吧所以这个是我们的优势所在就并不一定说至少我们看一看一季度的财务数据和财务的表现并不一定说强者很强或者大者很大或者有点小规模的人才就没有生存的机会我觉得这个是第一点然后第二点我们看了一下有一些我们的友商也明确提出他们是叫做聚焦公有云并且是大幅的退出行业云的市场如果大家看我们的财务报表的话是两部分 叫做这个Public Cloud和Enterprise Cloud那Public Cloud呢就是中文翻译叫公有云Enterprise Cloud呢就翻译成这个行业云所以我们有时候是说它就聚焦于这个公有云市场大幅度是行业云市场是不是说这个行业云市场没得做这个我不是特别同意因为我们金山云这边的情况实际上是两条回头路这个事实上我们的这个Enterprise Cloud这块平均的这个毛利率是相当好的 ...

Summary of Conference Call Company and Industry - The discussion revolves around **Kingsoft Cloud** and its performance in the **cloud computing industry** in China. Core Points and Arguments - **Revenue Growth**: Kingsoft Cloud reported a **3% increase in revenue** for the last quarter, indicating a positive trend in financial performance [1]. - **Profitability Improvement**: The company achieved a significant turnaround, with profitability improving to a **100% positive margin**, marking a historical increase of **9 percentage points** [1]. - **Market Comparison**: There is a notable distinction between the Chinese banking sector and the U.S. banking situation, suggesting that while the scale may be smaller in China, there are unique opportunities, particularly in the context of **AI advancements** [1]. Other Important Content - The emphasis on the **AI opportunity** highlights the potential for growth and innovation within the Chinese market, which may differ from trends observed in the U.S. [1].

2024年5月26日 公司研究 1Q24 调整 EBITDA 首次转正，成立全资子公司积极把握 AI 发展机遇 —— 金山云（3896.HK）1Q24 业绩点评 要点 增持（维持） 当前价：1.54港元 事件：公司发布 1Q24 业绩，实现收入 17.8 亿元，同比下滑 4.8%，主要系 公司主动缩减 CDN 业务规模以及更严格地筛选行业云项目，但部分被 AI 收 入的增长抵消。1Q24 毛利率达 16.5%，同比/环比提升 6.1pcts/1.8pcts， 作者 实现了连续七个季度持续稳步提升，再创历史新高，主要受益于公有云业务 分析师：付天姿 收入结构优化、行业云项目质量提升及有效的成本控制。1Q24 归母净亏损 执业证书编号：S0930517040002 3.6亿元，经调整EBITDA首次转正，对应经调整EBITDA利润率1.9%。 021-52523692 futz@ebscn.com 持续赋能小米&金山生态，1Q24 AI收入保持强势增长。1Q24公有云实现收 入11.9亿元，同比/环比提升2.9%/12.9%，主要受益于AI收入提升。1Q24 联系人：黄铮 公司在 AI 业务、生态系统赋能、CDN ...

金山云 年第一季度业绩交流 原文 24 240522_ 2024年05月23日09:51 发言人1 00:00 无效无效无效无效无效无效无效无效。 发言人1 00:22 无效。今天。 发言人2 00:26 今天。 发言人1 00:30 无效。 发言人1 00:40 哎呦。 发言人1 00:47 无效。 ...

Financial Performance - For Q1 2024, Kingsoft Cloud reported total revenue of RMB 1,775.7 million (approximately USD 245.91 million), a 3.1% increase from RMB 1,722.5 million in Q4 2023, but a 4.8% decrease from RMB 1,864.4 million in Q1 2023[4] - Adjusted EBITDA turned positive at RMB 33.2 million, representing a margin of 1.9%, compared to a loss of RMB 130.5 million in Q1 2023[3] - Adjusted gross profit increased by 53.8% year-over-year to RMB 299.1 million, with an adjusted gross margin of 16.8%, up 6.4 percentage points from 10.4% in Q1 2023[3] - Gross profit was RMB 293.3 million (USD 40.6 million), a significant increase of 51.0% compared to RMB 194.2 million in the same period of 2023, indicating improved revenue quality[6] - Gross margin improved to 16.5%, up from 10.4% in the same period of 2023[6] - Operating loss narrowed to RMB 274.2 million (USD 38.0 million), significantly improved from RMB 342.7 million in the previous quarter and RMB 597.9 million in the same period of 2023[6] - Net loss was RMB 363.6 million (USD 50.4 million), compared to RMB 286.8 million in the previous quarter and RMB 608.8 million in the same period of 2023[6] - Non-GAAP net loss was RMB 217.3 million (USD 30.1 million), down from RMB 250.4 million in the previous quarter and RMB 412.5 million in the same period of 2023[8] - Non-GAAP EBITDA was RMB 33.2 million (USD 4.6 million), improving from RMB -27.7 million in the previous quarter and RMB -130.5 million in the same period of 2023[8] Revenue Breakdown - Public cloud service revenue rose by 12.9% quarter-over-quarter to RMB 1,187.4 million, driven by increased contributions from AI-related customers[4] - AI-related revenue accounted for approximately 13% of public cloud service revenue in Q1 2024, up from 8% in the previous quarter[3] - Industry cloud service revenue decreased by 12.3% quarter-over-quarter to RMB 588.2 million, and down 17.2% year-over-year from RMB 710.0 million[4] Cost Management - Operating costs decreased by 11.2% year-over-year to RMB 1,482.4 million, with significant reductions in internet data center costs[4] - Total operating expenses decreased to RMB 567.4 million (USD 78.6 million), down from RMB 595.9 million in the previous quarter and RMB 792.1 million in the same period of 2023[6] Research and Development - Research and development expenses increased to RMB 232.0 million (USD 32.1 million), compared to RMB 175.2 million in the previous quarter and RMB 215.4 million in the same period of 2023[6] Cash and Assets - Cash and cash equivalents as of March 31, 2024, were RMB 1,811.7 million (USD 250.9 million), down from RMB 2,255.3 million as of December 31, 2023[8] - As of March 31, 2024, total assets amounted to RMB 15,952,480 thousand, an increase from RMB 15,070,278 thousand as of December 31, 2023, reflecting a growth of approximately 5.85%[15] - Cash and cash equivalents decreased to RMB 1,811,739 thousand from RMB 2,255,287 thousand, representing a decline of about 19.7%[15] - Total liabilities increased to RMB 8,944,691 thousand as of March 31, 2024, up from RMB 7,824,374 thousand, indicating a rise of approximately 14.3%[16] - The company's equity decreased to RMB 7,007,789 thousand from RMB 7,245,904 thousand, a decline of about 3.3%[16] - Accounts receivable net amount increased to RMB 1,649,807 thousand from RMB 1,529,915 thousand, showing a growth of approximately 7.8%[15] - The company reported a total of RMB 6,238,190 thousand in current assets as of March 31, 2024, compared to RMB 6,098,124 thousand, marking an increase of about 2.3%[15] - Short-term bank loans rose to RMB 1,218,629 thousand from RMB 1,110,896 thousand, reflecting an increase of approximately 9.7%[16] - The company’s goodwill remained stable at RMB 4,605,724 thousand as of both reporting dates[15] - Non-current liabilities increased significantly to RMB 1,909,498 thousand from RMB 995,784 thousand, indicating a rise of approximately 91.7%[16] - The company’s restricted cash increased to RMB 279,021 thousand from RMB 234,194 thousand, representing a growth of about 19.1%[15] Sustainability and ESG - The company has invested billions of RMB in AI over the past year, focusing on optimizing its business portfolio and controlling costs[3] - Kingsoft Cloud released its fourth ESG report since its IPO in 2020, highlighting its commitment to sustainable development[3] - The company emphasizes profitability and sustainability in its selected verticals, including public cloud services, state-owned cloud, healthcare, and financial services[4]

| --- | --- | |-----------------------------------------------------------------------------------------------------|-------| | | | | | | | | | | Kingsoft Cloud Holdings Limited 金山云控股有限公司 股份代號 : 3896 （於開曼群島註冊成立的有限公司） | | 目 錄 | --- | --- | |-------|--------------------| | | | | 2 | 公司資料 | | 4 | 主要摘要 | | 8 | 業務回顧及展望 | | 11 | 管理層討論與分析 | | 15 | 董事會報告 | | 44 | 董事及高級管理層 | | 48 | 企業管治報告 | | 67 | 其他資料 | | 83 | 獨立審計師報告 | | 89 | 合併資產負債表 | | 92 | 合併綜合虧損表 | | 94 | 合併股東權益變動表 | | 97 | 合併現金流量表 | | 100 | 合併財務報表附註 | | 168 | ...

2024年3月22日 公司研究 4Q23 AI 收入环比提升显著，2024 年经调整 EBITDA 有望实现转正 —— 金山云（3896.HK）4Q23 及 2023 年度业绩点评 要点 增持（维持） 当前价：1.86港元 事件：公司发布4Q23及2023全年业绩, 2023全年公司收入70.5亿元，同 比下降 13.8%，主要系公司主动缩减 CDN 业务规模以及更严格地筛选行业 云项目。23 全年公司实现毛利率 12.1%，同比显著提升 6.8pcts，其中 作者 4Q23 毛利率达到 14.7%，实现连续 6 个季度持续提升，主要受益于收入结 分析师：付天姿 构优化及有效的成本控制。2023全年实现归母净亏损21.8亿元，相比2022 执业证书编号：S0930517040002 年26.9亿元的亏损明显收窄。 021-52523692 futz@ebscn.com 持续深化小米&金山生态战略合作，4Q23 AI收入环比提升显著。4Q23公有 云实现收入 10.5 亿元，同比下降 21.7%，主要由于公司继续缩减 CDN 业务 联系人：黄铮 规模并优化客户结构，4Q23 公司 CDN 业务占总营收比例已降至 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Kingsoft Cloud Holdings Limited 金山云控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3896） （納斯達克股票代碼：KC） 內幕消息 截至二零二三年十二月三十一日止三個月及財年的 未經審計財務業績 本公告乃根據香港聯合交易所有限公司證券上市規則第13.09條及證券及期貨條例 （第571章）第XIVA部刊發。 金山云控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司、 其子公司及併表聯屬實體（統稱「本集團」）根據美國證券交易委員會（「美國證交 會」）適用規則刊發的截至二零二三年十二月三十一日止三個月及全年未經審計簡 明綜合業績（「第四季度及全年業績」）。 第四季度及全年業績乃根據美利堅合眾國公認會計準則（「美國公認會計準則」）編 製，其有別於國際財務報告準則。 本公告附件一為本公司於二零二四年三月二十日（美國東部時間）就第四季度及全 年業績 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Kingsoft Cloud Holdings Limited 金山云控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3896） （納斯達克股票代碼：KC） 截至二零二三年十二月三十一日止年度的初步年度業績公告 金山云控股有限公司（「本公司」）的董事（「董事」）會（「董事會」）欣然公佈本公 司、其子公司及併表聯屬實體（統稱「本集團」）截至二零二三年十二月三十一日止 年度（「報告期間」）的未經審計年度綜合業績，以及二零二二年同期比較數據。該 等年度業績乃根據美國公認會計準則（「美國公認會計準則」）編製，並已由本公司 審計委員會（「審計委員會」）審閱。 於本公告中，「我們」及「我們的」指本公司及（除文義另有所指）本集團。 | --- | --- | --- | --- | |-------------------------------|------------------------------ ...