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Kingsoft Cloud Holdings Limited (NASDAQ: KC) is an independent cloud service provider in China, offering a range of integrated cloud-based services including cloud computing, storage, and delivery. Established in 2012, it operates data centers across Beijing, Shanghai, Chengdu, Guangzhou, Hong Kong, and North America. The company boasts a large and experienced R&D team with over 400 personnel from prominent IT companies like Baidu, Alibaba, Tencent, and Microsoft.
Kingsoft Cloud delivers an array of products and services such as cloud safety, database management, AI solutions, and hybrid cloud options. These solutions cater to multiple industries including healthcare, government affairs, finance, media, education, gaming, transportation, logistics, and audio-video sectors. With over 20,000 servers and asset valuation exceeding 5 billion RMB, Kingsoft Cloud has transformed into one of China's leading third-party cloud service providers.
In recent news, Kingsoft Cloud has shown remarkable financial progress. As of the second quarter of 2023, the company reported a gross margin of 11.3%, a significant leap from the previous year's 3.4%. Total revenues reached RMB1,835.4 million (US$253.11 million), and operating cash inflow stood at RMB65.2 million, reflecting effective cost management and improved financial health. The Chief Executive Officer, Mr. Tao Zou, emphasized the company’s focus on sustainable development and agility in responding to AI trends, highlighting the launch of Model-as-a-Service solutions aimed at AI customers.
Kingsoft Cloud's recent achievements include the launch of an AI research center and the promotion of industry-specific solutions like the advanced medical cloud platform and the largest commercial cloud storage service in China. The company’s strategic alignment with Xiaomi and Kingsoft Corporation ecosystem is poised to leverage AI opportunities significantly. The firm also maintains a robust financial stance with cash reserves amounting to RMB4,286.7 million (US$591.2 million) as of June 30, 2023.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) reported its financial results for Q4 and FY 2022, highlighting an increase in gross margin to 7.6% in Q4, up from 1.0% in the same quarter last year. Total revenues for Q4 were RMB2.13 billion (US$308.91 million), an 8.2% quarter-over-quarter increase but down 19.9% year-over-year due to scaling back CDN services. The company achieved a net cash inflow of RMB370.4 million for the quarter, marking its third consecutive positive operating cash flow. For FY 2022, total revenue reached RMB8.18 billion, a 9.7% decline from 2021. Management forecasts Q1 2023 revenues between RMB1.85 billion and RMB2.05 billion.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) will release its unaudited financial results for Q4 and fiscal year 2022 on March 29, 2023, before U.S. market openings. The management will host a conference call at 8:00 am EST the same day, where participants can join via preregistration. Kingsoft Cloud is recognized as a leading independent cloud service provider in China, with a robust platform offering extensive infrastructure and industry-specific solutions.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) announced the successful adoption of all resolutions at its extraordinary general meeting, facilitating its dual primary listing on the Hong Kong Stock Exchange (SEHK). The listing is set to commence on December 30, 2022, under the stock code '3896'. The meeting also confirmed the appointment of Chief Financial Officer Haijian He to the Board of Directors, expected to enhance the company's governance and growth strategies. Key resolutions included amendments to the company's articles of association and share issuance mandates.
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