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Kingsoft

Kingsoft
HKEX

Kingsoft is a software developer and internet service provider in China.

OVERVIEW

Categories
Enterprise Service, Cloud Computing, General Enterprise Service, Cloud Service, IT Service
HQ location
Beijing
Founded date
Mar. 20, 1998
IPO date
Oct. 9, 2007
Legal name
Kingsoft Corporation Ltd.
Kingsoft's main business encompasses internet security, office software, entertainment software, cloud computing, and online translation. The company utilizes the internet as an effective channel to market and distribute its products, and has built an extensive sales and distribution network. It also has R&D centers in Zhuhai, Beijing, Chengdu, and Dalian, producing several products such as Kingsoft Office, Kingsoft PowerWord, Kingsoft Internet Security, and online games such as "JX Series" and "The First Myth." It also offers an online English learning website www.iciba.com, and an online game website www.xoyo.com. Its subsidiaries include Xishanju Game, Kingsoft Internet Security Software, WPS office, JC Studio, KSyun, and Adin Studio. As of 2008, WPS Office’s PC version has had over 20 million individual users, and over 250,000 professional version software have been procured by over 830 large and middle domestic enterprises. Kingsoft was founded in 1988 and was listed on the Hong Kong Stock Exchange on October 9, 2007. Its main competitor is Qihu360.
03888:HKEX
Transaction date
Jun. 2, 2020
52-week high
HKD 29.50
52-week low
HKD 13.16
Volume
211,923,825
Open
HKD 25.70
Close
HKD 26.10
P/E
-22.23
Market cap
HKD 35.83 billion

ANALYSIS

With AI plus SaaS services, can Kingsoft's monetization model achieve new breakthroughs?

Driven by "cloud + AI" and other technologies, Kingsoft Office will firmly grasp the development opportunities in the cloud office and intelligent office stages, continuously improve SaaS service capabilities, and continue to exert strength on the personal, corporate, and Internet advertising ends, thereby Get a new breakthrough in the global market.

Mar. 17, 2020 · Kingsoft

Kingsoft Software turning point has arrived?

At present, Kingsoft has developed a new strategic layout of mobile entertainment + cloud computing + WPS. The gaming business will continue to play the role of the company's cash cow business, and "Kingsoft Office" and "Kingsoft Cloud" represent the two future directions of the To B industry in the future: SaaS (software and services) and IaaS (infrastructure and services)

Jan. 19, 2020 · Kingsoft

Kingsoft goes public respectively

Yiou B2B / Enterprise Services News on May 8th, the Shanghai Stock Exchange has accepted the application for the listing of the science and technology board of Beijing Kingsoft Office Software Co., Ltd. Previously, the company proposed to split the common stock of Beijing Office Software and list it separately on the Science and Technology Board. Beijing Office Software is mainly engaged in the design, development and sales promotion of WPS Office office software products and services. At present, Kingsoft Software holds approximately 67.50% of the total issued shares of Beijing Office Software.

May. 8, 2019 · Kingsoft

REPORTS

金山办公(688111.SH):Subscription services will explode beyond expectations in 2020, and software licensing business is expected to accelerate growth with domestic systems

It is estimated that the company's annual revenue from 2020 to 2021 will be CNY 2.879 billion and 3.889 billion, and its net profit will be CNY 823 million and 1.250 billion. Considering the company's potential in the global target market for SaaS subscription services, domestic software has a large potential in the Sintron market Monopoly position, the company's product power and competitive structure have a leading edge

Mar. 3, 2020 · Kingsoft

金山办公(688111.SH):"Online Office" King coincides with cloud economic bonus

In the past three years, the company's operating income has grown steadily, generous investment in research and development, good product performance, and broad industry market space. It is estimated that the company's net profit from 2019 to 2021 will be CNY 3.91 / 5.93 / 9.14 billion, corresponding to EPS of 1.09 / RMB 1.65 / 2.54, corresponding to PE, 60 times, 46 times and 34 times

Mar. 3, 2020 · Kingsoft

ANNOUNCEMENTS

Date Announcement
May. 28, 2020 The financial report shows that Kingsoft’s revenue in the first quarter was CNY 1.17 billion, an increase of 32% year-on-year and a decrease of 21% month-on-month; a net profit of CNY 6.26 million and a loss of CNY 67.7 million in the same period last year. <br/>1) In terms of financial composition, Kingsoft’s revenue from online games in the first quarter was CNY 781 million, an increase of 30% year-on-year and a decrease of 15% month-on-month. Kingsoft explained in its financial report that the year-on-year growth was mainly due to the healthy growth of the flagship endgame ‘Jian Wang 3’ with improved user activity and commercialization capabilities, as well as a mobile game product portfolio. The quarter-on-quarter decline was mainly due to the declined revenue of ‘Jian Wang 3.’<br/>2) The revenue from office software and services and others in the first quarter was CNY 391 million, an increase of 36% year-on-year and a decrease of 31% month-on-month. The financial report shows that the year-on-year growth was mainly due to increased revenue of WPSOffice subscription services that rapidly expanded in size with the upgrade of functions and services. The quarter-on-quarter decline was mainly due to declined sales of the WPSOffice licensing business and the WPSOffice online advertising promotion service in the off-season, which was partially offset by the steady and sustainable growth of WPSOffice subscription service revenue.
May. 8, 2020 Kingsoft (03888-HK) announced that it will declare a special dividend of approximately CNY 139 million on the spin-off of Kingsoft Cloud's listing on the NASDAQ exchange, based on a distribution of approximately CNY 0.10 per share of cash; With an offer price of USD 17, every 1300 shares held will be converted into one distribution of American depositary shares. <br/>1) After the listing of Kingsoft Cloud, the fair value of the company ’s equity in Kingsoft Cloud and the company ’s share of the net asset value of Kingsoft Cloud after referring to the offering price of Kingsoft Cloud ’s offering and consolidated financial statements on December 31, 2019. It is estimated to be approximately CNY 11 billion and CNY 1 billion, respectively. Based on the above, the deemed sale proceeds due to the proposed spin-off to be recognized in the group ’s consolidated income statement are expected to be approximately CNY 10 billion. <br/>2) The spin-off took place at the beginning of the year (that is, January 1, 2019) and Kingsoft Cloud was recorded as an associate of the group rather than a subsidiary in the twelve months ended December 31, 2019. The post-loss will be reduced by about CNY 800 million (that is, Kingsoft Cloud ’s consolidated loss after taxation is about CNY 1.4 billion, and the share of the loss of the associated company is about CNY 600 million).
Apr. 29, 2020 The board of directors (the “Board”) of the Company is pleased to announce that Beijing Kingsoft Office Software, Inc., a subsidiary of the Company whose shares are listed on the SSE STAR Market (stock code: 688111), published its first quarterly report of 2020 (the “Report”) on 28 April 2020. 1) Revenue increased 30.9%, Net profit attributable to shareholders of the listed company increased 130.87%, Net profit attributable to shareholders of the listed company after deduction of non-recurring gains and losses increased 99.24%. 2) Weighted average return on net assets decreased by 2.12 percentage points. Basic earnings per share increased 84.62%.<br/>
Apr. 24, 2020 The Board is pleased to announce that the Company has entered into the Subscription Agreement with the Managers on 23 April 2020 (after trading hours), under which, among other things, the Managers have severally and not jointly agreed to subscribe and pay for, or to procure the Subscribers to subscribe and pay for, the Bonds to be issued by the Company in an aggregate principal amount of HK$3,100,000,000, subject to certain conditions set out in the Subscription Agreement.The Bonds may be converted into Conversion Shares pursuant to the Conditions at an initial Conversion Price of HKD 35.7637 per Share (subject to adjustments). <br/>The net proceeds from the subscription of the Bonds, after deduction of commissions (and assuming the payment of a discretionary incentive fee) and other related expenses, are estimated to be approximately HKD 3,033.65 million. The net proceeds from the Bonds are proposed to be used for general corporate purposes, for strategic investments and acquisitions, if appropriate, and to supplement working capital.
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Overview
Categories
Enterprise Service, Cloud Computing, General Enterprise Service, Cloud Service, IT Service
HQ location
Beijing
Founded date
Mar. 20, 1998
IPO date
Oct. 9, 2007
Legal name
Kingsoft Corporation Ltd.
Kingsoft's main business encompasses internet security, office software, entertainment software, cloud computing, and online translation. The company utilizes the internet as an effective channel to market and distribute its products, and has built an extensive sales and distribution network. It also has R&D centers in Zhuhai, Beijing, Chengdu, and Dalian, producing several products such as Kingsoft Office, Kingsoft PowerWord, Kingsoft Internet Security, and online games such as "JX Series" and "The First Myth." It also offers an online English learning website www.iciba.com, and an online game website www.xoyo.com. Its subsidiaries include Xishanju Game, Kingsoft Internet Security Software, WPS office, JC Studio, KSyun, and Adin Studio. As of 2008, WPS Office’s PC version has had over 20 million individual users, and over 250,000 professional version software have been procured by over 830 large and middle domestic enterprises. Kingsoft was founded in 1988 and was listed on the Hong Kong Stock Exchange on October 9, 2007. Its main competitor is Qihu360.
03888:HKEX
Transaction date
Jun. 2, 2020
52-week high
HKD 29.50
52-week low
HKD 13.16
Volume
211,923,825
Open
HKD 25.70
Close
HKD 26.10
P/E
-22.23
Market cap
HKD 35.83 billion
Analysis

With AI plus SaaS services, can Kingsoft's monetization model achieve new breakthroughs?

Driven by "cloud + AI" and other technologies, Kingsoft Office will firmly grasp the development opportunities in the cloud office and intelligent office stages, continuously improve SaaS service capabilities, and continue to exert strength on the personal, corporate, and Internet advertising ends, thereby Get a new breakthrough in the global market.

Mar. 17, 2020 · Kingsoft

Kingsoft Software turning point has arrived?

At present, Kingsoft has developed a new strategic layout of mobile entertainment + cloud computing + WPS. The gaming business will continue to play the role of the company's cash cow business, and "Kingsoft Office" and "Kingsoft Cloud" represent the two future directions of the To B industry in the future: SaaS (software and services) and IaaS (infrastructure and services)

Jan. 19, 2020 · Kingsoft

Kingsoft goes public respectively

Yiou B2B / Enterprise Services News on May 8th, the Shanghai Stock Exchange has accepted the application for the listing of the science and technology board of Beijing Kingsoft Office Software Co., Ltd. Previously, the company proposed to split the common stock of Beijing Office Software and list it separately on the Science and Technology Board. Beijing Office Software is mainly engaged in the design, development and sales promotion of WPS Office office software products and services. At present, Kingsoft Software holds approximately 67.50% of the total issued shares of Beijing Office Software.

May. 8, 2019 · Kingsoft
Reports

金山办公(688111.SH):Subscription services will explode beyond expectations in 2020, and software licensing business is expected to accelerate growth with domestic systems

It is estimated that the company's annual revenue from 2020 to 2021 will be CNY 2.879 billion and 3.889 billion, and its net profit will be CNY 823 million and 1.250 billion. Considering the company's potential in the global target market for SaaS subscription services, domestic software has a large potential in the Sintron market Monopoly position, the company's product power and competitive structure have a leading edge

Mar. 3, 2020 · Kingsoft

金山办公(688111.SH):"Online Office" King coincides with cloud economic bonus

In the past three years, the company's operating income has grown steadily, generous investment in research and development, good product performance, and broad industry market space. It is estimated that the company's net profit from 2019 to 2021 will be CNY 3.91 / 5.93 / 9.14 billion, corresponding to EPS of 1.09 / RMB 1.65 / 2.54, corresponding to PE, 60 times, 46 times and 34 times

Mar. 3, 2020 · Kingsoft
Announcements
Date Announcement
May. 28, 2020 The financial report shows that Kingsoft’s revenue in the first quarter was CNY 1.17 billion, an increase of 32% year-on-year and a decrease of 21% month-on-month; a net profit of CNY 6.26 million and a loss of CNY 67.7 million in the same period last year. <br/>1) In terms of financial composition, Kingsoft’s revenue from online games in the first quarter was CNY 781 million, an increase of 30% year-on-year and a decrease of 15% month-on-month. Kingsoft explained in its financial report that the year-on-year growth was mainly due to the healthy growth of the flagship endgame ‘Jian Wang 3’ with improved user activity and commercialization capabilities, as well as a mobile game product portfolio. The quarter-on-quarter decline was mainly due to the declined revenue of ‘Jian Wang 3.’<br/>2) The revenue from office software and services and others in the first quarter was CNY 391 million, an increase of 36% year-on-year and a decrease of 31% month-on-month. The financial report shows that the year-on-year growth was mainly due to increased revenue of WPSOffice subscription services that rapidly expanded in size with the upgrade of functions and services. The quarter-on-quarter decline was mainly due to declined sales of the WPSOffice licensing business and the WPSOffice online advertising promotion service in the off-season, which was partially offset by the steady and sustainable growth of WPSOffice subscription service revenue.
May. 8, 2020 Kingsoft (03888-HK) announced that it will declare a special dividend of approximately CNY 139 million on the spin-off of Kingsoft Cloud's listing on the NASDAQ exchange, based on a distribution of approximately CNY 0.10 per share of cash; With an offer price of USD 17, every 1300 shares held will be converted into one distribution of American depositary shares. <br/>1) After the listing of Kingsoft Cloud, the fair value of the company ’s equity in Kingsoft Cloud and the company ’s share of the net asset value of Kingsoft Cloud after referring to the offering price of Kingsoft Cloud ’s offering and consolidated financial statements on December 31, 2019. It is estimated to be approximately CNY 11 billion and CNY 1 billion, respectively. Based on the above, the deemed sale proceeds due to the proposed spin-off to be recognized in the group ’s consolidated income statement are expected to be approximately CNY 10 billion. <br/>2) The spin-off took place at the beginning of the year (that is, January 1, 2019) and Kingsoft Cloud was recorded as an associate of the group rather than a subsidiary in the twelve months ended December 31, 2019. The post-loss will be reduced by about CNY 800 million (that is, Kingsoft Cloud ’s consolidated loss after taxation is about CNY 1.4 billion, and the share of the loss of the associated company is about CNY 600 million).
Apr. 29, 2020 The board of directors (the “Board”) of the Company is pleased to announce that Beijing Kingsoft Office Software, Inc., a subsidiary of the Company whose shares are listed on the SSE STAR Market (stock code: 688111), published its first quarterly report of 2020 (the “Report”) on 28 April 2020. 1) Revenue increased 30.9%, Net profit attributable to shareholders of the listed company increased 130.87%, Net profit attributable to shareholders of the listed company after deduction of non-recurring gains and losses increased 99.24%. 2) Weighted average return on net assets decreased by 2.12 percentage points. Basic earnings per share increased 84.62%.<br/>
Apr. 24, 2020 The Board is pleased to announce that the Company has entered into the Subscription Agreement with the Managers on 23 April 2020 (after trading hours), under which, among other things, the Managers have severally and not jointly agreed to subscribe and pay for, or to procure the Subscribers to subscribe and pay for, the Bonds to be issued by the Company in an aggregate principal amount of HK$3,100,000,000, subject to certain conditions set out in the Subscription Agreement.The Bonds may be converted into Conversion Shares pursuant to the Conditions at an initial Conversion Price of HKD 35.7637 per Share (subject to adjustments). <br/>The net proceeds from the subscription of the Bonds, after deduction of commissions (and assuming the payment of a discretionary incentive fee) and other related expenses, are estimated to be approximately HKD 3,033.65 million. The net proceeds from the Bonds are proposed to be used for general corporate purposes, for strategic investments and acquisitions, if appropriate, and to supplement working capital.