Q1 2025 Kingsoft Corporation Ltd Earnings Call (Chinese, English) Transcript
Key Points
- Kingsoft Corp Ltd (KSFTF) reported a 9% year-over-year increase in group revenue, reaching RMB2.34 billion.
- The Kingsoft Office Group saw a significant 60% year-on-year revenue increase, driven by market adaptation and AI user expansion.
- WPS Office's global monthly active devices grew by 8% year-on-year, with notable increases in both PC and mobile versions.
- WPS 365 achieved a 63% year-on-year revenue increase, bolstered by its document management, collaboration, and AI capabilities.
- The gaming segment reported a 14% year-on-year revenue increase, with successful updates and expansions in flagship games like JX3 Online.
- The office software and services business experienced a 13% quarter-on-quarter revenue decrease, partly due to adjustments in procurement processes.
- Research and development costs rose by 60% year-on-year, impacting overall profitability.
- Operating profit before share-based compensation costs decreased by 44% quarter-on-quarter.
- Net cash used in operating activities was RMB102 million, indicating a decline from previous quarters.
- The company faced challenges in maintaining growth momentum for JX3 Online due to high base effects and market uncertainties.
Good day, and thank you for standing by. Welcome to Q1 2025 Kingsoft Corporation earnings conference call.
(Operator Instructions) Please be advised that today's conference is being recorded. I would now like to turn the call over to Ms. Yinan Li, IR Director of Kingsoft. Thank you. Please go ahead.
Thank you, operator. Ladies and gentlemen, good evening, and good morning. I would like to welcome everyone to our 2025 first-quarter earnings call. I'm Li Yinan, the IR Director of Kingsoft. I would like to start by reminding you that some information provided during the earnings call may include forward-looking statements, which may not be relied upon in the future for various reasons.
These forward-looking statements are based on our information and information from other sources, which we believe to be reliable. Please refer to the other publicly disclosed documents for detailed discussion on risk factors which may affect our business and operations.
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