HONG KONG: Kingsoft Corporation Limited, a leading Chinese software and Internet service company, has announced its 2019 unaudited annual results and fourth quarter results for the period ended 31 December 2019.

For the year of 2019, the revenue of Kingsoft increased 39% year-on-year to RMB8,218.3 million. Revenue from the online games, cloud services and office software and services and others represented 33%, 47% and 20%, respectively, of the Company’s total revenue for the year of 2019.

For the fourth quarter of 2019, the Company’s revenue increased 48% year-on-year and 28% quarter-on-quarter to RMB2,594.7 million. Revenue from the online games, cloud services and office software and services and others represented 35%, 43% and 22%, respectively, of the Company’s total revenue for the fourth quarter of 2019. Gross profit for the fourth quarter of 2019 increased 70% year-on-year and increased 56% quarter-on-quarter to RMB1,282.0 million. Operating profit before share-based compensation costs for the fourth quarter of 2019 was RMB235.0 million, compared to loss of RMB105.4 million in the corresponding period last year.

Mr. Jun LEI, Chairman of Kingsoft, commented, “Our businesses sustained positive momentum during the quarter. Our online games business delivered stable growth in both PC and mobile segments, while office software and services and cloud services continued to achieve robust revenue growth with accelerated deployment across industries. Meanwhile, we have completed the listing of our office software and services business, Beijing Kingsoft Office Software Inc. (“Beijing Office Software”), on 18 November 2019 on the science and technology innovation board of the Shanghai Stock Exchange (“SSE STAR Market”). Overall, we made solid progress in 2019, and we are confident in a robust operating outlook and sustained growth for 2020.”

Mr. Tao ZOU, Chief Executive Officer of Kingsoft, added, “Our revenue for the fourth quarter was RMB2,594.7 million, up 48% year-on-year and 28% quarter-on-quarter. Revenue of 2019 was RMB8,218.3 million, increasing 39% year-on-year. Our revenue maintained a stable growth against the backdrop of a dynamic environment thanks to our solid market competitiveness and execution capabilities. Meanwhile, annual revenue of cloud services and office software and services and others maintained a strong and rapid growth, with a year-on-year growth of 73% and 43%, respectively.”