AG真人官方

BEIJING, May 28, 2025 /PRNewswire/ -- Kingsoft Cloud听Holdings听Limited ("Kingsoft听Cloud"听or听the听"Company") (NASDAQ:听KC听and听HKEX: 3896), a leading cloud service provider in China, today announced its unaudited financial results for the first quarter ended March 31,2025.

Mr. Tao Zou, Chief Executive Officer of听Kingsoft Cloud, commented, "Despite uncertainties in global supply chain, we believe the importance for cloud services as infrastructure in the AI-era is gaining greater traction. This quarter, our gross billing of AI business increased by 228% year- over-year to RMB525 million, accounting for 39% of our public cloud services. We are confident and fully committed into our AI related investment and high-quality and sustainable business development."

Mr. Henry听He, Chief Financial听Officer听of Kingsoft Cloud, added, "Our revenue increased by 10.9% year-over-year, achieving RMB1,970.0 million for the first quarter; however sequentially we experienced seasonal decrease. Our adjusted gross profit was RMB327.7 million, increased by 9.6% year-over-year and decreased by 23.4% quarter-over-quarter. Adjusted gross margin was 16.6% in this quarter, compared with 16.8% in the first quarter 2024 and 19.2% in the fourth quarter last year.听 Our adjusted operating loss was RMB55.8 million, narrowed by 56% from RMB127.0 million in the same period last year. Our adjusted EBITDA profit achieved RMB318.5 million, representing an adjusted EBITDA margin of 16.2%"

First听Quarter听2025听Financial Results

Total Revenues reached RMB1,970.0听尘颈濒濒颈辞苍听(US$271.5^[1]听million),听increased by听10.9%听year-over-year听from听RMB1,775.7 million听in the听same听quarter of听2024 and听decreased听by 11.7% quarter-over-quarter from听RMB2,232.1million听in听the听fourth quarter听of听2024.听The听year-over-year increase was mainly due to听the听expanded听revenue听from听Xiaomi听and听Kingsoft听Ecosystem and听 AI related customers and our听further penetration听into听enterprise cloud听customers.听The听quarter-over-quarter听decrease听飞补蝉听mainly听due听to听the听seasonality impact听for听enterprise听cloud.

Revenues from public cloud services were RMB1,353.5 million (US$186.5 million), increased by 14.0% from RMB1,187.4 million in the same quarter of 听2024 and decreased by 4.0% from RMB1,409.8 million last quarter. The year-over-year increase was mainly due to the growth of AI demands.

Revenues from enterprise cloud services were RMB616.5 million (US$85.0 million), representing an increase of 4.8% from RMB588.2 million in the same quarter of 2024 and a decrease of 25.0% from RMB822.3 million last quarter. The sequential decrease was mainly due to the Chinese New Year impact and differentiated delivery schedules for various projects.

Other听revenues听were nil听this quarter.

颁辞蝉迟听辞蹿听谤别惫别苍耻别蝉听was RMB1,651.7 million (US$227.6 million), representing an increase of 11.4% from RMB1,482.4 million in the same quarter of 2024, which was mainly due to our investment into AI computing resources. IDC costs decreased by 6.0% year-over-year from RMB768.5 million to RMB722.8 million (US$99.6 million) this quarter. The decrease was mainly due to our strict control over procurement costs. Depreciation and amortization costs increased from RMB183.5 million in the same quarter of 2024 to RMB378.5 million (US$52.2 million) this quarter. The increase was mainly due to the depreciation of newly acquired servers which were allocated to AI business. Solution development and services costs increased by 13.3% year-over-year from RMB446.0 million in the same quarter of 2024 to RMB505.2 million (US$69.6 million) this quarter. The increase was mainly due to the solution personnel expansion of Camelot. Fulfillment costs and other costs were RMB3.1 million (US$0.4 million) and RMB42.1 million (US$5.8 million) this quarter.

Gross profit was RMB318.3 million (US$43.9 million), representing an increase of 8.5% from RMB293.3 million in the same quarter of 2024, demonstrating our improvements in revenue quality and structure. Gross margin was 16.2%, remaining stable compared with 16.5% in the same period in 2024. Non-GAAP gross profit^[2] was RMB327.7 million (US$45.2 million), compared with RMB299.1 million in the same period in 2024. Non-GAAP gross margin^[2] was 16.6%, compared with 16.8% in the same period in 2024. The improvement of our gross profit was mainly due to the decrease of procurement costs. The sequential decrease of gross margin was mainly due to the growing investment into AI and the delay of high-margin profile enterprise cloud projects in first quarter.

Total听operating expenses听were RMB552.5 million (US$76.1 million), decreased by 2.6% from RMB567.4 million in the same quarter last year and increased by 17.7% from RMB469.5 million last quarter. Among which:

厂别濒濒颈苍驳听补苍诲听尘补谤办别迟颈苍驳听别虫辫别苍蝉别蝉 were RMB144.3 million (US$19.9 million), increased by 23.6% from RMB116.8 million in the same period in 2024 and increased by 24.7% from RMB115.8 million last quarter. The increase was due to the increase of one-time-off bonus of share based compensation.

骋别苍别谤补濒听补苍诲听补诲尘颈苍颈蝉迟谤补迟颈惫别听别虫辫别苍蝉别蝉 were RMB182.0million (US$25.1million), decreased by 16.8% from RMB218.7 million in the same period in 2024 and slightly increased by 1.4% from RMB179.5 million last quarter. The year-over-year decrease was mainly due to the decrease of credit loss expense, which was partially offset by the increase of share based compensation.

搁别蝉别补谤肠丑听补苍诲听诲别惫别濒辞辫尘别苍迟听别虫辫别苍蝉别蝉 were RMB226.2 million (US$31.2 million), decreased by 2.5% from RMB232.0 million in the same period in 2024 and increased by 29.9% from RMB174.2 million last quarter. The increase was mainly due to our continuous investment into research and development personnel to enhance our technology competitiveness and increase of share based compensation.

Operating loss was RMB234.2 million (US$32.3 million), compared with operating loss of RMB274.2 million in the same quarter of 2024 and RMB43.5 million last quarter. The year-over-year improvement was mainly due to the increase of gross profit and our strict expenses control, while the sequential increase was mainly due to the impact of gross pro蹿颈迟听补苍诲听颈苍肠谤别补se听of shared based听compensation.听Non-GAAP operating loss^[3]听飞补蝉听RMB55.8听million (US$7.7听million), compared听with听operating听loss听of听RMB127.0听million听in听the听same听quarter听last听year听and听operating profit听of RMB24.4听尘颈濒濒颈辞苍听濒补蝉迟听辩耻补谤迟别谤.

狈别迟听濒辞蝉蝉听飞补蝉听搁惭叠316.1听尘颈濒濒颈辞苍听(US$43.6听million),听肠辞尘辫补谤别诲听飞颈迟丑听net听loss听of听RMB363.6听million in听the听same听quarter of听2024听and听RMB200.6听million听last听quarter.听Non-GAAP net loss^[4] was RMB190.6 million (US$26.3 million), compared with RMB217.3 million in the same quarter of 2024 and RMB70.3 million last quarter. The year-over-year improvement was mainly due to the revenue quality increase, revenue mix adjustment, strict costs control and expenses control. The quarter-over-quarter decrease was mainly due to the seasonality impact.

Non-GAAP EBITDA^[5]听飞补蝉听RMB318.5 million听(US$43.9听million),听肠辞尘辫补谤别诲听飞颈迟丑听RMB33.2 million in the听same听quarter听of听2024 and听RMB359.7 million听last听quarter.听Non-GAAP EBITDA margin 飞补蝉听16.2%,听肠辞尘辫补谤别诲听飞颈迟丑 1.9%听in听the听same听quarter of听2024听and听16.1%听in听the听previous quarter.听The听increase听飞补蝉听mainly听due听to the听expansion听of AI听businesses听with听higher听margin.

叠补蝉颈肠听补苍诲听诲颈濒耻迟别诲听苍别迟听濒辞蝉蝉听辫别谤听蝉丑补谤别听飞补蝉听RMB0.08听(US$0.01),听肠辞尘辫补谤别诲听飞颈迟丑听RMB0.10听in听the same quarter听of听2024听and听RMB0.05听last听quarter.

颁补蝉丑听补苍诲听肠补蝉丑听别辩耻颈惫补濒别苍迟蝉听were RMB2,322.7 million (US$320.1 million) as of March 31, 2025, compared with RMB2,648.8 million as of December 31, 2024. The decrease was mainly due to the investment into operation and the investment into the procurement of computing power equipment.

翱耻迟蝉迟补苍诲颈苍驳听辞谤诲颈苍补谤测听蝉丑补谤别蝉听were听3,703,014,637听as听of听March听31,听2025,听equivalent to听about听246,867,642听ADSs.

Conference听Call听Information

Kingsoft听Cloud's听management听will host听an earnings听conference听call听on Wednesday,听May 28,听2025听at听8:15听am,听U.S.听Eastern Time听(8:15听pm,听Beijing/Hong听Kong听Time听on听the听same听day).

Participants can register for the conference call by navigating to . Once preregistration has been completed, participants will receive dial-in numbers, direct event passcode, and a unique access PIN.

To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your PIN, and you will join the conference instantly.

Additionally, a live and archived webcast of the conference call will also be available on the Company's investor relations website at .

Use听of Non-GAAP听Financial听Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). In evaluating our business, we consider and use certain non-GAAP measures, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operating (loss) profit, Non-GAAP operating (loss) profit margin, Non-GAAP EBITDA, Non-GAAP EBITDA margin, Non-GAAP net loss and Non-GAAP net loss margin, as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or听 as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.听 We define Non-GAAP gross profit as gross profit excluding share-based compensation allocated in the cost of revenues, and we define Non-GAAP gross margin as Non-GAAP gross profit as a听 percentage of revenues. We define Non-GAAP operating (loss) profit as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating听 (loss) profit margin as Non-GAAP operating (loss) profit as a percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. We define Non-GAAP EBITDA as Non-GAAP net loss excluding interest income, interest expense, income tax (benefit) expense and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of these non-GAAP measures facilitates investors ' assessment of our operating performance.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

We compensate for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

Exchange听Rate听Information

This听press听release听contains听translations听of certain听RMB听amounts听into听U.S. dollars听at specified听rates听solely听for听the听convenience of听readers.听Unless听otherwise听noted,听all听translations听from听RMB to U.S. dollars, in this press release, were made at a rate of RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.

Safe听Harbor听Statement

This announcement contains forward-looking statements. These statements are made under the " safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the Business Outlook, and quotations from management in this announcement, as well as Kingsoft Cloud's strategic and operational plans, contain forward-looking statements. Kingsoft Cloud may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Kingsoft Cloud's goals and strategies; Kingsoft Cloud's future business development, results of operations and financial condition; relevant government policies and regulations relating to Kingsoft Cloud 's business and industry; the expected growth of the cloud service market in China; the expectation regarding the rate at which to gain customers, especially Premium Customers; Kingsoft Cloud's ability to monetize the customer base; fluctuations in general economic and business conditions in China; and the economy in China and elsewhere generally; China's political or social conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Kingsoft Cloud's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Kingsoft Cloud does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About听Kingsoft听Cloud听Holdings听Limited

Kingsoft听Cloud听Holdings听Limited听(NASDAQ: KC听and听HKEX:3896) is a leading听 cloud service provider in China. With extensive cloud infrastructure, cutting-edge cloud-native products based on vigorous cloud technology听 research and development capabilities, well-architected听industry-specific听 solutions and end-to-end fulfillment and听deployment,听Kingsoft Cloud offers comprehensive, reliable and trusted cloud service to customers in strategically selected verticals.

For听more听information,听please听visit:听.

For investor and media inquiries, please contact:

Kingsoft Cloud听Holdings听Limited
Nicole听Shan
Tel: +86 (10) 6292-7777 Ext. 6300
Email: [email protected]听

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SOURCE Kingsoft Cloud Holdings Limited