HONG KONG, Mar 19, 2025 - (ACN Newswire) - Kingsoft Corporation Limited (“Kingsoft” or the “Company”; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its 2024 annual results and fourth quarter results for the period ended 31 December 2024.

For the year of 2024, the revenue of Kingsoft increased 21% year-on-year to RMB10,317.9 million. Revenue from the office software and services, and online games and others represented 50% and 50% of the Group’s total revenue for the year of 2024, respectively. Gross profit increased 22% year-on-year to RMB8,580.5 million. In 2024, the Group’s operating profit reached 3,646.6 million, a strong year-on-year increase of 64%.

For the fourth quarter of 2024, the Company’s revenue increased 21% year-on-year to RMB2,792.5 million. Revenue from the office software and services, and online games and others represented 54% and 46% of the Group’s total revenue for the fourth quarter of 2024, respectively. Gross profit for the fourth quarter of 2024 increased 24% year-on-year to RMB2,343.3 million. The Group’s gross profit margin increased by two percentage points year-on-year and kept flat quarter-on-quarter to 84%.

Mr. Jun LEI, Chairman of the Company, commented: “Throughout 2024, we remained dedicated to technology empowerment, focused on strengthening our core capabilities, and achieved the milestone of surpassing 10 billion in revenue for the first time. Kingsoft Office Group focuses on the core strategic directions of ‘multiscreen, cloud, content, collaboration, AI’ and continues to increase investment in R&D in the fields of collaboration and AI. This drives product iteration and upgrades through innovation, creating a product system that better meets user needs, effectively enhancing its market competitiveness and industry influence in the intelligent office business. For the online games business, we deeply engage in classic wuxia IP, actively exploring new genres to provide users with diverse gaming experience.”

Mr. Tao ZOU, Chief Executive Officer of the Company, added, “The Group’s overall performance in 2024 was strong, achieving record highs in revenue, profitability, and core operating metrics. In 2024, the total revenue reached RMB10,317.9 million, a year-on-year increase of 21%. Among them, revenue from office software and services business was RMB5,121.1 million, a year-on- year increase of 12%. Revenue from online games and others business was RMB5,196.8 million, a robust year-on-year increase of 31%. In 2024, the Group’s operating profit reached 3,646.6 million, a strong year-on-year increase of 64%, and the operating profit margin increased from 26% in 2023 to 35%.”

BUSINESS REVIEW

Office Software and Services

In 2024, revenue from the office software and services business increased 12% year-on-year to RMB5,121.1 million. The increase was primarily due to increased revenue from WPS individual and WPS 365 businesses. The increase of WPS individual business was mainly attributed to improved conversion rates, driven by the synergistic development of traditional and AI-powered features.

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