Kingsoft Reports Impressive H1 2023 Results with Strong Growth in AI and Online Gaming

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Kingsoft Corporation Limited, a leading Chinese software and Internet service company, has reported impressive results for the first half of 2023, showcasing strong growth in the fields of artificial intelligence (AI) and online gaming. The company’s unaudited interim results and second-quarter results for the period ended on June 30, 2023, reveal a 13% year-on-year increase in revenue, reaching RMB4,163.8 million.

The office software and services business saw a significant boost, with a 21% year-on-year increase in revenue, amounting to RMB2,172.5 million. Similarly, the online games and others segment reported a 5% year-on-year increase in revenue, totaling RMB1,991.3 million. These two sectors accounted for 52% and 48% of the total revenue for the first half of the year, respectively.

In terms of the second quarter of 2023, Kingsoft reported a 20% year-on-year increase in revenue, amounting to RMB2,193.5 million. The office software and services business continued to thrive, with a 21% year-on-year increase in revenue, reaching RMB1,120.8 million. The online games and others business also experienced strong growth, with an 18% year-on-year increase in revenue, totaling RMB1,072.6 million.

Mr. Jun Lei, Chairman of Kingsoft, expressed his satisfaction with the company’s performance during the second quarter of 2023. He highlighted the robust growth achieved by Kingsoft Office Group, which has capitalized on emerging opportunities in the field of large language models (LLMs) by actively developing products and enhancing user work efficiency. Additionally, the group has focused on addressing the digital transformation needs of organizational users, aligning with the multi-screen, cloud, content, AI, collaboration strategy and delivering solid business performance.

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Within the online games business, Kingsoft has remained committed to developing premium games. The flagship game, JX Online III, has continued to enjoy popularity among players and achieved record-breaking quarterly gross billings. Kingsoft also expanded its user base into international markets with the anime game Snowbreak: Containment Zone, which received widespread acclaim upon its launch.

Looking ahead, Kingsoft aims to maintain its focus on core businesses and drive innovation. The company is dedicated to creating top-tier digital office services and premium gaming content for a global user base. By adhering to a technology-driven approach and emphasizing high-quality and sustainable development, Kingsoft strives to deliver better products and services to its users and create long-term value for its shareholders.

As a leading software and Internet services company in China, Kingsoft is listed on the stock exchange of Hong Kong. With three main subsidiaries, including Kingsoft Office, Seasun, and Kingsoft Shiyou, the company has completed a comprehensive transformation of its overall business and management models. Additionally, it has formed a strategic platform with office software and interactive entertainment as its pillars, while cloud services and AI represent new directions. With over 7,000 staff worldwide, Kingsoft enjoys a significant market share in China.

Overall, Kingsoft’s impressive H1 2023 results reflect the company’s commitment to innovation and its ability to capitalize on emerging opportunities in the AI and online gaming sectors. With a strong focus on core businesses and a dedication to providing high-quality products and services, Kingsoft is well-positioned for future growth and success.

For more information, please visit Kingsoft’s official website at http://www.kingsoft.com.

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Frequently Asked Questions (FAQs) Related to the Above News

What were Kingsoft Corporation Limited's unaudited interim results for the first half of 2023?

Kingsoft reported a 13% year-on-year increase in revenue, reaching RMB4,163.8 million.

How much did the office software and services business contribute to Kingsoft's total revenue for the first half of 2023?

The office software and services business accounted for 52% of the total revenue for the first half of the year.

What was the year-on-year increase in revenue for the online games and others segment?

The online games and others segment reported a 5% year-on-year increase in revenue.

What were Kingsoft's second-quarter results for 2023?

Kingsoft reported a 20% year-on-year increase in revenue, amounting to RMB2,193.5 million.

How much did the office software and services business contribute to Kingsoft's revenue in the second quarter of 2023?

The office software and services business accounted for 51% of Kingsoft's revenue in the second quarter of 2023.

How did Kingsoft's flagship game, JX Online III, perform in the second quarter of 2023?

JX Online III achieved record-breaking quarterly gross billings and continued to be popular among players.

What are Kingsoft's future goals and strategies?

Kingsoft aims to maintain its focus on core businesses and drive innovation. The company is dedicated to creating top-tier digital office services and premium gaming content for a global user base. It aims to deliver better products and services to its users while creating long-term value for its shareholders.

What are the main subsidiaries of Kingsoft Corporation Limited?

Kingsoft has three main subsidiaries: Kingsoft Office, Seasun, and Kingsoft Shiyou.

Where is Kingsoft Corporation Limited listed?

Kingsoft Corporation Limited is listed on the stock exchange of Hong Kong.

How many staff does Kingsoft have worldwide?

Kingsoft has over 7,000 staff worldwide.

What sets Kingsoft apart as a leading software and Internet services company in China?

Kingsoft has completed a comprehensive transformation of its overall business and management models. It has formed a strategic platform with office software and interactive entertainment as its pillars, while also venturing into cloud services and AI. The company enjoys a significant market share in China.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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