Half Year 2024 Kingsoft Corp Ltd Earnings Call (Chinese, English) Transcript
Key Points
- Total revenues reached RMB2.47 billion, a year-on-year increase of 13% and a quarter-on-quarter increase of 16%.
- Operating profit reached RMB790 million, a year-on-year increase of 18% and a quarter-on-quarter increase of 32%.
- Net profit attributable to shareholders reached RMB393 million, a significant year-on-year increase of 588% and a quarter-on-quarter increase of 38%.
- Kingsoft Office Group's revenues in the second quarter reached RMB1.187 billion, a 6% year-on-year increase.
- Online games and other business revenues reached RMB1.286 billion, a 20% year-on-year increase and a significant 41% increase quarter-on-quarter.
- Revenue from the office software and service business decreased 3% quarter-on-quarter to RMB1.188 million.
- Gross profit margin decreased by 1 percentage point year-on-year to 83%.
- Research and development costs increased 11% year-on-year and 4% quarter-on-quarter to RMB741 million.
- Selling and distribution expenses increased by 26% year-on-year and 45% quarter-on-quarter to RMB379 million.
- Share of losses of associates was RMB169 million for the second quarter of 2024.
Good day and thank you for standing by, and welcome to the Second Quarter 2024 Kingsoft Corporation's earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I'd now like to hand the conference over to your first speaker today, Ms. Yinan Li, IR Director of Kingsoft. Please go ahead.
Thank you, operator. Ladies and gentlemen, good evening and good morning. I would like to welcome everyone to our 2024 second quarter and interim results earnings call. Im Li Yinan, the IR Director of Kingsoft. I will like to start by reminding you that some information provided during the earnings call may include forward-looking statements, which may not be relied upon in the future for various reasons. These forward-looking statements are based on our information and information from other sources, which we believe to be reliable.
Please refer to the other publicly disclosed documents for a detailed discussion on risk factors which may affect our business and
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