UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2024
Commission file number: 001-39278
Kingsoft Cloud Holdings Limited
(Exact Name of Registrant as Specified in Its
Charter)
Building D, Xiaomi Science and Technology Park,
No. 33 Xierqi Middle Road,
Haidian District
Beijing, 100085, the People’s Republic
of China
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F
x Form 40-F ¨
EXHIBIT INDEX
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
Kingsoft Cloud Holdings Limited |
| |
|
|
| Date: August 20, 2024 |
By: |
/s/ Haijian He |
| |
|
Name: |
Haijian He |
| |
|
Title: |
Chief Financial Officer and Director |
Exhibit 99.1
Kingsoft
Cloud Announces Unaudited Second Quarter 2024 Financial Results
BEIJING, August 20, 2024 — Kingsoft Cloud Holdings Limited
(“Kingsoft Cloud” or the “Company”) (NASDAQ: KC and HKEX: 3896), a leading independent cloud service provider
in China, today announced its unaudited financial results for the second quarter ended June 30, 2024.
Mr. Tao
Zou, Chief Executive Officer of Kingsoft Cloud, commented, “We are pleased to record another strong quarter with advances in revenue
expansion, margin improvements and operating cash net inflow. Our high-quality and sustainable development strategy continued
to bear fruits. During the past quarter, embracing AI opportunities, we have recorded AI revenue of RMB326 million, approximately 26%
of revenues from public cloud services, doubling from 13% last quarter. We have also been enhancing our AI capabilities, successfully
deploying AI solutions to enterprises and organizations to improve our customers’ data management performances.”
Mr. Henry
He, Chief Financial Officer of Kingsoft Cloud, added, “We are pleased to achieve growth in both revenue and profits.
This quarter our total revenues returned to year-over-year growth track, arriving at RMB1,891.8 million, increased by 3.1%
year-over-year and 6.5% quarter-over-quarter. This quarter our adjusted gross margin was 17.1%, significantly increased by 5.8
percentage points from 11.3% in the same quarter of 2023. Adjusted gross profit was RMB323.4 million, increased by 56.4% from
RMB206.8 million in the same quarter of 2023. Adjusted EBITDA turned to profit last quarter and steadily increased to RMB60.6
million, significantly improving from negative RMB61.4 million in the same quarter of 2023. This quarter we have recorded net inflow
of operating cash at RMB151.2 million, compared with RMB65.2 million in the same period and negative RMB321.3 million last
quarter.”
Second Quarter 2024 Financial Results
Total
revenues reached RMB1,891.8 million (US$260.31
million), increased by 3.1% year-over-year and 6.5% quarter-over-quarter from RMB1,835.4 million in the same quarter of 2023 and RMB1,775.7
million in the first quarter of 2024. The increase was mainly due to the expanded revenue from AI related customers and partially offset
by our proactive scale-down of content delivery network (CDN) services, and more stringent project selection of enterprise cloud projects.
| |
|
Revenues from public cloud services were RMB1,234.5 million (US$169.9 million), increased by 6.5% from RMB1,159.5 million in the same quarter of 2023 and 4.0% from RMB1,187.4 million last quarter. The increase was mainly due to the growth of AI demands and partially offset by the proactive scale-down of our CDN services. |
| |
|
Revenues from enterprise cloud services were RMB657.2 million (US$90.4 million), representing a decrease of 2.7% from RMB675.2 million in the same quarter of 2023 and an increase of 11.7% from RMB588.2 million last quarter. We keep focus in selected verticals such as public services cloud, state-owned assets cloud, healthcare and financial services, enhance our solutions with AI capabilities and take profitability and sustainability of the enterprise cloud projects as our priorities. |
1
This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely
for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2672 to US$1.00, the
noon buying rate in effect on June 30, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.
| |
|
Other revenues were nil this quarter. |
Cost
of revenues was RMB1,573.4 million (US$216.5 million), representing a decrease of 3.4% from RMB1,628.8 million in the
same quarter of 2023. IDC costs decreased significantly by 15.4% year-over-year from RMB860.7 million to RMB728.2 million (US$100.2
million) this quarter. The decrease was in line with the scale down of our CDN services and our strict control over procurement
costs. Depreciation and amortization costs increased by 31.6% from RMB202.1 million in the same quarter of 2023 to RMB265.9 million
(US$36.6 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 8.4% year-over-year from RMB452.9 million in the same quarter of 2023
to RMB491.1 million (US$67.6 million) this quarter. The increase was mainly due to the solution personnel expansion of Camelot.
Fulfillment costs and other costs were RMB37.6 million (US$5.2 million) and RMB50.6 million (US$6.9 million) this quarter.
Gross
profit was RMB318.3 million (US$43.8 million), representing a significant increase of 54.1% from RMB206.6 million in the
same quarter of 2023, demonstrating our improvements in revenue quality. Gross margin was 16.8%, compared with 11.3% in the
same period in 2023. Non-GAAP gross profit2
was RMB323.4 million (US$44.5 million), compared with RMB206.8 million in the same period in 2023. Non-GAAP gross
margin2 was 17.1%, compared with 11.3% in the same period in 2023. The significant improvement of our gross profit
and margin was mainly due to our strategic adjustment of revenue mix, expansion of AI revenues, optimized enterprise cloud project
selection and efficient cost control measures.
Total
operating expenses were RMB595.9 million (US$82.0 million), increased by 4.6% from RMB569.7 million in the same period in 2023
and 5.0% from RMB567.4 million last quarter. Among which:
Selling
and marketing expenses were RMB125.7 million (US$17.3 million), decreased by 2.7% from RMB129.3 million in the same period
in 2023 and increased by 7.7% from RMB116.8 million last quarter, the sequential increase was due to the increase of personnel
costs and promotional expense, partially offsetting by the reversal of share-based compensation related to forfeiture.
General
and administrative expenses were RMB266.2 million (US$36.6 million), compared with RMB246.5 million in the same period in 2023
and RMB218.7 million last quarter. The sequential increase was mainly due to the one-time-off gain of property disposal of last quarter
and the year-over-year increase was mainly due to the increase in personnel costs.
Research
and development expenses were RMB204.0 million (US$28.1 million), increased by 5.2% from RMB193.9 million in the same period
in 2023 and decreased by 12.1% from RMB232.0 million last quarter. The sequential decrease was mainly due to the reversal of share-based compensation expense related to forfeiture and the year-over-year increase was mainly due to the increase
in personnel costs, partially offsetting by the reversal of share-based compensation related to forfeiture.
Operating
loss was RMB277.6 million (US$38.2 million), significantly decreased compared with operating loss of RMB363.1 million in
the same quarter of 2023 and slightly increased from RMB274.2 million last quarter. The year-over-year improvement was mainly due to our
gross profit expansion and we have been taking strict control over expenses, bearing fruit from our high-quality and sustainable development
strategy. The sequential increase was mainly due to the above-mentioned expenses increase and partially offset by the increase of gross
profit.
Net
loss was RMB353.7 million (US$48.7 million), significantly decreased compared with net loss of RMB498.3 million in the same quarter of
2023 and RMB363.6 million last quarter. The improvements of our profitability were in line with our strategies of high quality and sustainable
development, as we focus on profitable business and execute strict control over costs and expenses.
2 Non-GAAP gross profit is defined 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 percentage
of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.
Non-GAAP
net loss3 was RMB301.1 million (US$41.4 million), compared with RMB315.0 million in the same quarter of 2023 and
RMB217.3 million last quarter.
Non-GAAP
EBITDA4 was RMB60.6 million (US$8.3 million), compared with RMB-61.4 million in the same quarter of 2023 and RMB33.2
million last quarter. Non-GAAP EBITDA margin was 3.2%, compared with -3.3% in the same quarter of 2023 and 1.9% last quarter. The
increase was mainly due to the expansion in gross profit and our strict control over costs and expenses.
Basic
and diluted net loss per share was RMB0.10 (US$0.01), compared with RMB0.14 in the same quarter of 2023 and RMB0.10 last quarter.
Cash
and cash equivalents were RMB1,837.8 million (US$252.9 million) as of June 30, 2024, compared with RMB1,881.7 million
as of March 31, 2024. The decrease was mainly due to the investment into the procurement of high performance servers and the payment
to daily operation.
Outstanding
ordinary shares were 3,596,874,352 as of June 30, 2024, equivalent to about
239,791,623 ADSs.
Conference Call Information
Kingsoft
Cloud’s management will host an earnings conference call on Tuesday, August 20, 2024 at 8:15 am, U.S. Eastern Time (8:15
pm, Beijing/Hong Kong Time on the same day).
Participants can register for the conference call by navigating to
https://register.vevent.com/register/BI2ed9e3a7930e4c958cfbd29da2a97c19. 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 http://ir.ksyun.com.
Use of Non-GAAP Financial 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 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 as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. 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 percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation, foreign
exchange loss and impairment of long-lived assets, 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 expense (benefit)
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.
3 Non-GAAP net loss is defined as net loss excluding share-based
compensation, impairment of long-lived assets and foreign exchange loss, and we define Non-GAAP net loss margin as adjusted net
loss as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.
4 Non-GAAP EBITDA is defined as Non-GAAP net loss excluding
interest income, interest expense, income tax expense (benefit) and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP
EBITDA as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.
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
Rate Information
This
press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of readers.
Unless otherwise noted, all translations from RMB to U.S. dollars, in this press release, were made at a rate of RMB7.2672 to US$1.00,
the noon buying rate in effect on June 30, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.
Safe Harbor 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 Kingsoft Cloud Holdings Limited
Kingsoft Cloud Holdings Limited (NASDAQ: KC and HKEX:3896) is a leading
independent cloud service provider in China. With extensive cloud infrastructure, cutting-edge cloud-native products based on vigorous
cloud technology research and development capabilities, well-architected industry-specific solutions and end-to-end fulfillment and deployment,
Kingsoft Cloud offers comprehensive, reliable and trusted cloud service to customers in strategically selected verticals.
For more information, please visit: http://ir.ksyun.com.
For investor and media inquiries, please contact:
Kingsoft Cloud Holdings Limited
Nicole Shan
Tel: +86 (10) 6292-7777 Ext. 6300
Email: ksc-ir@kingsoft.com
KINGSOFT CLOUD HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands)
| | |
Dec 31,
2023 | | |
Jun 30,
2024 | | |
Jun 30,
2024 | |
| | |
RMB | | |
RMB | | |
US$ | |
| ASSETS | |
| | | |
| | | |
| | |
| Current assets: | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 2,255,287 | | |
| 1,837,757 | | |
| 252,884 | |
| Restricted cash | |
| 234,194 | | |
| 258,647 | | |
| 35,591 | |
| Accounts receivable, net | |
| 1,529,915 | | |
| 1,680,965 | | |
| 231,308 | |
| Prepayments and other assets | |
| 1,812,692 | | |
| 2,150,626 | | |
| 295,935 | |
| Amounts due from related parties | |
| 266,036 | | |
| 373,059 | | |
| 51,335 | |
| Total current assets | |
| 6,098,124 | | |
| 6,301,054 | | |
| 867,053 | |
| Non-current assets: | |
| | | |
| | | |
| | |
| Property and equipment, net | |
| 2,186,145 | | |
| 3,882,522 | | |
| 534,253 | |
| Intangible assets, net | |
| 834,478 | | |
| 748,537 | | |
| 103,002 | |
| Goodwill | |
| 4,605,724 | | |
| 4,605,724 | | |
| 633,769 | |
| Prepayments and other assets | |
| 870,781 | | |
| 518,929 | | |
| 71,407 | |
| Equity investments | |
| 259,930 | | |
| 247,176 | | |
| 34,013 | |
| Amounts due from related parties | |
| 56,264 | | |
| 12,264 | | |
| 1,688 | |
| Operating lease right-of-use assets | |
| 158,832 | | |
| 144,754 | | |
| 19,919 | |
| Total non-current assets | |
| 8,972,154 | | |
| 10,159,906 | | |
| 1,398,051 | |
| Total assets | |
| 15,070,278 | | |
| 16,460,960 | | |
| 2,265,104 | |
| | |
| | | |
| | | |
| | |
| LIABILITIES, NON-CONTROLLING INTERESTS AND SHAREHOLDERS' EQUITY | |
| | | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | | |
| | |
| Accounts payable | |
| 1,805,083 | | |
| 1,980,088 | | |
| 272,469 | |
| Accrued expenses and other current liabilities | |
| 2,838,085 | | |
| 2,938,720 | | |
| 404,381 | |
| Short-term bank loans | |
| 1,110,896 | | |
| 1,385,769 | | |
| 190,688 | |
| Income tax payable | |
| 63,961 | | |
| 59,185 | | |
| 8,144 | |
| Amounts due to related parties | |
| 931,906 | | |
| 1,070,842 | | |
| 147,353 | |
| Current operating lease liabilities | |
| 78,659 | | |
| 47,827 | | |
| 6,581 | |
| Total current liabilities | |
| 6,828,590 | | |
| 7,482,431 | | |
| 1,029,616 | |
| Non-current liabilities: | |
| | | |
| | | |
| | |
| Long-term bank loans | |
| 100,000 | | |
| 197,352 | | |
| 27,157 | |
| Amounts due to related parties | |
| 40,069 | | |
| 1,052,160 | | |
| 144,782 | |
| Deferred tax liabilities | |
| 142,565 | | |
| 108,503 | | |
| 14,931 | |
| Other liabilities | |
| 634,803 | | |
| 848,825 | | |
| 116,802 | |
| Non-current operating lease liabilities | |
| 78,347 | | |
| 69,903 | | |
| 9,619 | |
| Total non-current liabilities | |
| 995,784 | | |
| 2,276,743 | | |
| 313,291 | |
| Total liabilities | |
| 7,824,374 | | |
| 9,759,174 | | |
| 1,342,907 | |
| Shareholders’ equity: | |
| | | |
| | | |
| | |
| Ordinary shares | |
| 25,443 | | |
| 25,688 | | |
| 3,535 | |
| Treasury stock | |
| (208,385 | ) | |
| (208,385 | ) | |
| (28,675 | ) |
| Additional paid-in capital | |
| 18,811,028 | | |
| 18,969,913 | | |
| 2,610,347 | |
| Statutory reserves funds | |
| 21,765 | | |
| 21,765 | | |
| 2,995 | |
| Accumulated deficit | |
| (12,315,041 | ) | |
| (13,027,627 | ) | |
| (1,792,661 | ) |
| Accumulated other comprehensive income | |
| 555,342 | | |
| 575,585 | | |
| 79,203 | |
| Total Kingsoft Cloud Holdings Limited shareholders’ equity | |
| 6,890,152 | | |
| 6,356,939 | | |
| 874,744 | |
| Non-controlling interests | |
| 355,752 | | |
| 344,847 | | |
| 47,453 | |
| Total equity | |
| 7,245,904 | | |
| 6,701,786 | | |
| 922,197 | |
| Total liabilities, non-controlling interests and shareholders’ equity | |
| 15,070,278 | | |
| 16,460,960 | | |
| 2,265,104 | |
KINGSOFT CLOUD HOLDINGS LIMITED
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(All amounts in thousands, except for share and per share data)
| | |
Three
Months Ended | | |
Six
Months Ended | |
| | |
Jun
30,
2023 | | |
Mar
31,
2024 | | |
Jun
30,
2024 | | |
Jun
30,
2024 | | |
Jun
30,
2023 | | |
Jun
30,
2024 | | |
Jun
30,
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Public
cloud services | |
| 1,159,509 | | |
| 1,187,370 | | |
| 1,234,542 | | |
| 169,879 | | |
| 2,313,183 | | |
| 2,421,912 | | |
| 333,266 | |
| Enterprise
cloud services | |
| 675,176 | | |
| 588,162 | | |
| 657,238 | | |
| 90,439 | | |
| 1,385,152 | | |
| 1,245,400 | | |
| 171,373 | |
| Others | |
| 718 | | |
| 152 | | |
| - | | |
| - | | |
| 1,468 | | |
| 152 | | |
| 21 | |
| Total
revenues | |
| 1,835,403 | | |
| 1,775,684 | | |
| 1,891,780 | | |
| 260,318 | | |
| 3,699,803 | | |
| 3,667,464 | | |
| 504,660 | |
| Cost
of revenues | |
| (1,628,797 | ) | |
| (1,482,431 | ) | |
| (1,573,433 | ) | |
| (216,512 | ) | |
| (3,299,012 | ) | |
| (3,055,864 | ) | |
| (420,501 | ) |
| Gross
profit | |
| 206,606 | | |
| 293,253 | | |
| 318,347 | | |
| 43,806 | | |
| 400,791 | | |
| 611,600 | | |
| 84,159 | |
| Operating
expenses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Selling
and marketing expenses | |
| (129,253 | ) | |
| (116,752 | ) | |
| (125,708 | ) | |
| (17,298 | ) | |
| (217,306 | ) | |
| (242,460 | ) | |
| (33,364 | ) |
| General
and administrative expenses | |
| (246,549 | ) | |
| (218,695 | ) | |
| (266,249 | ) | |
| (36,637 | ) | |
| (550,042 | ) | |
| (484,944 | ) | |
| (66,731 | ) |
| Research
and development expenses | |
| (193,920 | ) | |
| (231,963 | ) | |
| (203,959 | ) | |
| (28,066 | ) | |
| (409,290 | ) | |
| (435,922 | ) | |
| (59,985 | ) |
| Impairment
of long-lived assets | |
| - | | |
| - | | |
| - | | |
| - | | |
| (185,135 | ) | |
| - | | |
| - | |
| Total
operating expenses | |
| (569,722 | ) | |
| (567,410 | ) | |
| (595,916 | ) | |
| (82,001 | ) | |
| (1,361,773 | ) | |
| (1,163,326 | ) | |
| (160,080 | ) |
| Operating
loss | |
| (363,116 | ) | |
| (274,157 | ) | |
| (277,569 | ) | |
| (38,195 | ) | |
| (960,982 | ) | |
| (551,726 | ) | |
| (75,921 | ) |
| Interest
income | |
| 25,568 | | |
| 8,370 | | |
| 9,945 | | |
| 1,368 | | |
| 39,636 | | |
| 18,315 | | |
| 2,520 | |
| Interest
expense | |
| (30,307 | ) | |
| (51,066 | ) | |
| (59,414 | ) | |
| (8,176 | ) | |
| (58,234 | ) | |
| (110,480 | ) | |
| (15,203 | ) |
| Foreign
exchange loss | |
| (151,515 | ) | |
| (42,737 | ) | |
| (6,999 | ) | |
| (963 | ) | |
| (151,422 | ) | |
| (49,736 | ) | |
| (6,843 | ) |
| Other
loss, net | |
| (11,841 | ) | |
| (8,207 | ) | |
| (7,829 | ) | |
| (1,077 | ) | |
| (19,787 | ) | |
| (16,036 | ) | |
| (2,207 | ) |
| Other
income (expense), net | |
| 37,781 | | |
| (11,190 | ) | |
| (4,961 | ) | |
| (683 | ) | |
| 50,067 | | |
| (16,151 | ) | |
| (2,222 | ) |
| Loss
before income taxes | |
| (493,430 | ) | |
| (378,987 | ) | |
| (346,827 | ) | |
| (47,726 | ) | |
| (1,100,722 | ) | |
| (725,814 | ) | |
| (99,876 | ) |
| Income
tax (expense) benefit | |
| (4,842 | ) | |
| 15,371 | | |
| (6,891 | ) | |
| (948 | ) | |
| (6,371 | ) | |
| 8,480 | | |
| 1,167 | |
| Net
loss | |
| (498,272 | ) | |
| (363,616 | ) | |
| (353,718 | ) | |
| (48,674 | ) | |
| (1,107,093 | ) | |
| (717,334 | ) | |
| (98,709 | ) |
| Less:
net income (loss) attributable to non-controlling interests | |
| 1,073 | | |
| (4,206 | ) | |
| (542 | ) | |
| (75 | ) | |
| (760 | ) | |
| (4,748 | ) | |
| (653 | ) |
| Net
loss attributable to Kingsoft Cloud Holdings Limited | |
| (499,345 | ) | |
| (359,410 | ) | |
| (353,176 | ) | |
| (48,599 | ) | |
| (1,106,333 | ) | |
| (712,586 | ) | |
| (98,056 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
loss per share: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic
and diluted | |
| (0.14 | ) | |
| (0.10 | ) | |
| (0.10 | ) | |
| (0.01 | ) | |
| (0.31 | ) | |
| (0.20 | ) | |
| (0.03 | ) |
| Shares
used in the net loss per share computation: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic
and diluted | |
| 3,554,529,097 | | |
| 3,614,662,846 | | |
| 3,649,307,331 | | |
| 3,649,307,331 | | |
| 3,547,111,168 | | |
| 3,632,583,338 | | |
| 3,632,583,338 | |
| Other
comprehensive income (loss), net of tax of nil: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Foreign
currency translation adjustments | |
| 238,614 | | |
| 20,704 | | |
| (530 | ) | |
| (73 | ) | |
| 208,781 | | |
| 20,174 | | |
| 2,776 | |
| Comprehensive
loss | |
| (259,658 | ) | |
| (342,912 | ) | |
| (354,248 | ) | |
| (48,747 | ) | |
| (898,312 | ) | |
| (697,160 | ) | |
| (95,933 | ) |
| Less:
Comprehensive income (loss) attributable to non-controlling interests | |
| 1,059 | | |
| (4,247 | ) | |
| (570 | ) | |
| (78 | ) | |
| (775 | ) | |
| (4,817 | ) | |
| (663 | ) |
| Comprehensive
loss attributable to Kingsoft Cloud Holdings Limited shareholders | |
| (260,717 | ) | |
| (338,665 | ) | |
| (353,678 | ) | |
| (48,669 | ) | |
| (897,537 | ) | |
| (692,343 | ) | |
| (95,270 | ) |
KINGSOFT CLOUD HOLDINGS LIMITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(All
amounts in thousands, except for percentage)
| | |
Three
Months Ended | | |
Six
Months Ended | |
| | |
Jun
30,
2023 | | |
Mar
31,
2024 | | |
Jun
30,
2024 | | |
Jun
30,
2024 | | |
Jun
30,
2023 | | |
Jun
30,
2024 | | |
Jun
30,
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Gross profit | |
| 206,606 | | |
| 293,253 | | |
| 318,347 | | |
| 43,806 | | |
| 400,791 | | |
| 611,600 | | |
| 84,159 | |
| Adjustments: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| –
Share-based compensation expenses (allocated in cost of revenues) | |
| 169 | | |
| 5,814 | | |
| 5,076 | | |
| 698 | | |
| 393 | | |
| 10,890 | | |
| 1,499 | |
| Adjusted gross profit (Non-GAAP
Financial Measure) | |
| 206,775 | | |
| 299,067 | | |
| 323,423 | | |
| 44,504 | | |
| 401,184 | | |
| 622,490 | | |
| 85,658 | |
KINGSOFT CLOUD HOLDINGS LIMITED
RECONCILIATION
OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except for percentage)
| | |
Three Months Ended | | |
Six Months Ended | |
| | |
Jun 30,
2023 | | |
Mar 31,
2024 | | |
Jun 30,
2024 | | |
Jun 30,
2023 | | |
Jun 30,
2024 | |
| Gross margin | |
| 11.3 | % | |
| 16.5 | % | |
| 16.8 | % | |
| 10.8 | % | |
| 16.7 | % |
| Adjusted gross margin (Non-GAAP Financial Measure) | |
| 11.3 | % | |
| 16.8 | % | |
| 17.1 | % | |
| 10.8 | % | |
| 17.0 | % |
KINGSOFT CLOUD HOLDINGS LIMITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except for percentage)
| | |
Three
Months Ended | | |
Six
Months Ended | |
| | |
Jun
30,
2023 | | |
Mar
31,
2024 | | |
Jun
30,
2024 | | |
Jun
30,
2024 | | |
Jun
30,
2023 | | |
Jun
30,
2024 | | |
Jun
30,
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net
Loss | |
| (498,272 | ) | |
| (363,616 | ) | |
| (353,718 | ) | |
| (48,674 | ) | |
| (1,107,093 | ) | |
| (717,334 | ) | |
| (98,709 | ) |
| Adjustments: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| –
Share-based compensation expenses | |
| 31,797 | | |
| 103,595 | | |
| 45,649 | | |
| 6,282 | | |
| 43,106 | | |
| 149,244 | | |
| 20,537 | |
| –
Foreign exchange loss | |
| 151,515 | | |
| 42,737 | | |
| 6,999 | | |
| 963 | | |
| 151,422 | | |
| 49,736 | | |
| 6,843 | |
| –
Impairment of long-lived assets | |
| - | | |
| - | | |
| - | | |
| - | | |
| 185,135 | | |
| - | | |
| - | |
| Adjusted
net loss (Non-GAAP Financial Measure) | |
| (314,960 | ) | |
| (217,284 | ) | |
| (301,070 | ) | |
| (41,429 | ) | |
| (727,430 | ) | |
| (518,354 | ) | |
| (71,329 | ) |
| Adjustments: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| –
Interest income | |
| (25,568 | ) | |
| (8,370 | ) | |
| (9,945 | ) | |
| (1,368 | ) | |
| (39,636 | ) | |
| (18,315 | ) | |
| (2,520 | ) |
| –
Interest expense | |
| 30,307 | | |
| 51,066 | | |
| 59,414 | | |
| 8,176 | | |
| 58,234 | | |
| 110,480 | | |
| 15,203 | |
| –
Income tax expense (benefit) | |
| 4,842 | | |
| (15,371 | ) | |
| 6,891 | | |
| 948 | | |
| 6,371 | | |
| (8,480 | ) | |
| (1,167 | ) |
| –
Depreciation and amortization | |
| 243,984 | | |
| 223,146 | | |
| 305,304 | | |
| 42,011 | | |
| 510,519 | | |
| 528,450 | | |
| 72,717 | |
| Adjusted
EBITDA (Non-GAAP Financial Measure) | |
| (61,395 | ) | |
| 33,187 | | |
| 60,594 | | |
| 8,338 | | |
| (191,942 | ) | |
| 93,781 | | |
| 12,904 | |
| –
Loss (gain) on disposal of property and equipment | |
| 1,456 | | |
| (23,821 | ) | |
| - | | |
| - | | |
| 21,672 | | |
| (23,821 | ) | |
| (3,278 | ) |
| Excluding
loss or gain on disposal of property and equipment, normalized Adjusted EBITDA | |
| (59,939 | ) | |
| 9,366 | | |
| 60,594 | | |
| 8,338 | | |
| (170,270 | ) | |
| 69,960 | | |
| 9,626 | |
KINGSOFT
CLOUD HOLDINGS LIMITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except for percentage)
| | |
Three Months Ended | | |
Six Months Ended | |
| | |
Jun 30,
2023 | | |
Mar 31,
2024 | | |
Jun 30,
2024 | | |
Jun 30,
2023 | | |
Jun 30,
2024 | |
| Net loss margin | |
| -27.1 | % | |
| -20.5 | % | |
| -18.7 | % | |
| -29.9 | % | |
| -19.6 | % |
| Adjusted net loss margin (Non-GAAP Financial Measure) | |
| -17.2 | % | |
| -12.2 | % | |
| -15.9 | % | |
| -19.7 | % | |
| -14.1 | % |
| Adjusted EBITDA margin (Non-GAAP Financial Measure) | |
| -3.3 | % | |
| 1.9 | % | |
| 3.2 | % | |
| -5.2 | % | |
| 2.6 | % |
| Normalized Adjusted EBITDA margin | |
| -3.3 | % | |
| 0.5 | % | |
| 3.2 | % | |
| -4.6 | % | |
| 1.9 | % |
KINGSOFT CLOUD HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(All amounts in thousands)
| | |
Three Months Ended | |
| | |
Jun 30,
2023 | | |
Mar 31,
2024 | | |
Jun 30,
2024 | | |
Jun 30,
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | |
| Net cash generated from (used in) operating activities | |
| 65,230 | | |
| (321,336 | ) | |
| 151,169 | | |
| 20,802 | |
| Net cash generated from (used in) investing activities | |
| 256,816 | | |
| (1,169,017 | ) | |
| (654,829 | ) | |
| (90,108 | ) |
| Net cash (used in) generated from financing activities | |
| (222,767 | ) | |
| 1,112,096 | | |
| 523,950 | | |
| 72,098 | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | |
| 57,623 | | |
| (20,464 | ) | |
| (14,646 | ) | |
| (2,015 | ) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | |
| 156,902 | | |
| (398,721 | ) | |
| 5,644 | | |
| 777 | |
| Cash, cash equivalents and restricted cash at beginning of period | |
| 3,666,185 | | |
| 2,489,481 | | |
| 2,090,760 | | |
| 287,698 | |
| Cash, cash equivalents and restricted cash at end of period | |
| 3,823,087 | | |
| 2,090,760 | | |
| 2,096,404 | | |
| 288,475 | |
Kingsoft Cloud (NASDAQ:KC)
過去 株価チャート
から 10 2024 まで 10 2024
Kingsoft Cloud (NASDAQ:KC)
過去 株価チャート
から 10 2023 まで 10 2024
