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Kingsoft Cloud Holdings Limited reports developments for a China-based cloud service provider listed on Nasdaq as KC and on the Hong Kong Stock Exchange as 3896. Company news centers on unaudited quarterly and annual financial results, earnings-call schedules, and demand trends across public cloud and enterprise cloud services.
Recurring updates describe AI-related customer demand, intelligent computing infrastructure, cloud-native products, industry-specific solutions, and cooperation within the Xiaomi-Kingsoft ecosystem. The company also issues annual report, ESG, shareholder-voting, and capital-structure announcements, including disclosures tied to ordinary shares, ADS holders, and Hong Kong listing requirements.
Kingsoft Cloud Holdings (NASDAQ: KC, HKEX: 3896), a leading independent cloud service provider in China, has announced it will release its unaudited financial results for the second quarter 2024 on August 20, 2024, before the U.S. markets open. The company's management will host an earnings conference call on the same day at 8:15 am U.S. Eastern Time (8:15 pm Beijing/Hong Kong Time).
Participants can pre-register for the conference call through a provided link. Upon registration, they will receive dial-in numbers, a passcode, and a unique access PIN. A live and archived webcast of the conference call will also be available on Kingsoft Cloud's investor relations website.
Kingsoft Cloud (NASDAQ: KC) reported its unaudited financial results for Q1 2024. Total revenues stood at RMB 1,775.7 million (US$245.91 million), showing a QoQ increase of 3.1% but a YoY decline of 4.8%. Adjusted EBITDA turned positive at RMB 33.2 million with a margin of 1.9%. Adjusted gross profit rose 53.8% YoY to RMB 299.1 million.
Revenues from public cloud services increased by 12.9% QoQ to RMB 1,187.4 million, driven by AI-related revenues contributing 13%. However, revenues from enterprise cloud services fell 12.3% QoQ to RMB 588.2 million.
Operating expenses decreased to RMB 567.4 million, leading to a reduced operating loss of RMB 274.2 million. The net loss was RMB 363.6 million, showing an improvement from the previous year.
The company announced the resignation of Vice President Yifeng Qian and reported cash and cash equivalents of RMB 1,811.7 million as of March 31, 2024.
Kingsoft Cloud Holdings , a prominent cloud service provider in China, will release its unaudited financial results for the first quarter of 2024 on May 22, 2024. The earnings conference call will be held the same day at 8:15 am U.S. Eastern Time. Participants can register for the conference call and access the webcast on the Company's investor relations website.
Kingsoft Cloud Holdings filed its annual report on Form 20-F for the fiscal year 2023, detailing its financial performance and operations. The company also released its 2023 Environmental, Social, and Governance (ESG) Report showcasing its progress in ESG practices, including initiatives like developing research centers, improving supply chain processes, and obtaining certifications for data governance.
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