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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) announced a strategic acquisition of Camelot Employee Scheme Inc., aiming to enhance its Enterprise Cloud Services (ECS) business. The deal will integrate Camelot’s resources across major Chinese cities, expected to improve project efficiency and reduce costs. Camelot's management, boasting significant industry experience, will join Kingsoft, bringing valuable client relationships. Camelot's 2020 revenue recurring ratio stood at 94%, with a backlog of approximately RMB3.8 billion. The transaction is anticipated to close by the end of 2021, pending regulatory approvals.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) reported its Q1 2021 financial results, achieving total revenues of RMB1,813.5 million (US$1276.8 million), a 30.3% increase from RMB1,391.0 million in Q1 2020. Revenues from public cloud services grew to RMB1,391.8 million (US$212.4 million), marking a fifth consecutive quarter of growth. Enterprise cloud services surged by 131.3% year-over-year to RMB420.0 million (US$64.1 million). Despite a gross profit increase of 64.5% to RMB116.5 million, the company reported a net loss of RMB382.2 million (US$58.3 million). For Q2 2021, Kingsoft Cloud expects revenues between RMB2.13 billion and RMB2.23 billion.
Kingsoft Cloud (NASDAQ: KC) announced it will release its unaudited financial results for Q1 2021 on May 18, 2021, before U.S. markets open. An earnings conference call is scheduled for the same day at 8:00 AM ET. Due to COVID-19, participants must preregister online to obtain dial-in details. The call can also be accessed via a live and archived webcast on the company's investor relations website. Kingsoft Cloud is a leading independent cloud service provider in China, known for its extensive cloud infrastructure and industry-specific solutions.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on April 22, 2021. Shareholders and ADS holders can request a hard copy of the report containing audited consolidated financial statements at no cost. Kingsoft Cloud, a leading independent cloud service provider in China, boasts a comprehensive cloud platform that includes extensive infrastructure and industry-specific solutions.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) has released its inaugural Environmental, Social and Governance (ESG) Report within a year of its IPO in May 2020, showcasing its commitment to ESG values. The report aligns with Nasdaq's and Hong Kong Stock Exchange's ESG guidelines, highlighting the company's strengths and sustainable development opportunities across various areas, including data security, low-carbon operations, and business ethics. The company pledges to continue its efforts in societal development and environmental protection through innovative products and reduced carbon footprint.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a three-year framework agreement with Kingsoft Cloud (NASDAQ: KC) effective August 14, 2020. This partnership aims to enhance Blue Hat's Internet Data Center (IDC) business, which serves as a secure hosting infrastructure for enterprises. The agreement follows Blue Hat's acquisition of Xunpusen Technology, leveraging its mobile marketing expertise. CEO Xiaodong Chen expressed optimism about future growth and expanding their customer base in mobile and gaming sectors.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) reported robust growth in its fourth quarter and fiscal year 2020 financial results. Total revenues for Q4 reached RMB1,922.7 million (US$294.7 million), marking a 63.8% year-over-year increase. Gross profit also saw a significant rise to RMB92.6 million (US$14.2 million), up 70.5% year-over-year. However, the net loss narrowed to RMB105.2 million (US$16.1 million), improving from RMB239.5 million in Q4 2019. For the fiscal year, total revenues were RMB6,577.3 million (US$1,008.0 million), with a net loss of RMB962.2 million (US$147.5 million), reflecting a net margin improvement from -28.1% to -14.6%.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) will announce its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020, on March 17, 2021, before U.S. market opens. A conference call will be held at 8:00 am ET the same day. Due to COVID-19, participants must preregister online to receive dial-in details. A replay of the call will be available until March 25, 2021. Kingsoft Cloud is a prominent independent cloud service provider in China, offering extensive cloud infrastructure and tailored solutions across various sectors.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) announced its inclusion in the MSCI China Index, effective after the U.S. market close on November 30, 2020. This milestone recognizes Kingsoft Cloud's growing influence as an independent cloud service provider in China, with the company being one of only two U.S.-listed Chinese firms to achieve this status. MSCI is a respected provider of indexes, and being part of this index enhances Kingsoft’s visibility among institutional investors.
Kingsoft Cloud Holdings Limited (NASDAQ: KC) reported its third quarter 2020 financial results, achieving total revenues of RMB1,728.8 million (US$254.6 million), a 72.6% year-over-year increase. Gross profit reached RMB112.9 million (US$16.6 million) with a gross margin of 6.5%, up from 1.9% last year. Net loss significantly decreased to RMB105.3 million (US$15.5 million) compared to RMB350.6 million in Q3 2019. The company anticipates Q4 2020 revenues between RMB1.88 billion and RMB1.95 billion, indicating continued growth in demand for cloud services.
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