Kingsoft Cloud Holdings (KC) Company Report

Kingsoft Cloud reported total revenue of RMB 2,478 million in Q3 2025, representing an accelerated year-over-year growth rate of 31%.
The company achieved profitability for the first time, with an adjusted operating profit of RMB 15.4 million and an adjusted net profit of RMB 28.73 million.
Public cloud revenue increased significantly by 49% year-over-year to RMB 1,752.3 million, primarily driven by intelligent computing cloud gross billings which grew by around 120% to RMB 782.4 million.
In September, Kingsoft Cloud raised HKD 2.8 billion through risk equity financing, with 8% of the funds allocated to further investment in AI infrastructure.

Nov 19, 2025, 12:15 PM

Transcript

Kingsoft Cloud Reports Strong Q3 2025 Revenue Growth and First-Ever Positive Adjusted Net Profit

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Kingsoft Cloud reported total revenues of RMB 2.48 billion for Q3 2025, representing a 31% year-over-year growth. Public cloud revenue grew 49% year-over-year to RMB 1.75 billion, driven by Intelligent Computing Cloud gross billings which increased around 122% year-over-year to RMB 782 million.
The company achieved historical positive adjusted net profit of RMB 28.73 million and an adjusted operating profit of RMB 15.36 million (0.6% margin) for the first time. Adjusted gross profit increased 28% year-over-year to RMB 393 million, and adjusted EBITDA margin reached 33%. The adjusted gross margin for Q3 2025 was 16%.
Revenue from the Xiaomi and Kingsoft ecosystem grew 84% year-over-year to RMB 691 million, contributing 28% of total revenue.
Kingsoft Cloud successfully raised HKD 2.8 billion in equity financing in September 2025, with 80% of the funds allocated to further investment in AI infrastructure. The company plans to continue investing in intelligent computing infrastructure and expects future margin improvement from inference demand.

Nov 19, 2025, 12:15 PM

Transcript

Kingsoft Cloud Reports Q3 2025 Results with Revenue Growth and First-Time Profitability

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Kingsoft Cloud reported Q3 2025 revenue of RMB 2.48 billion, representing a 31% year-over-year increase, accelerating from 24% in the previous quarter. Public cloud services revenue grew 49% year-over-year to RMB 1.75 billion.
The intelligent computing cloud business was a significant growth driver, with gross billings increasing by approximately 122% year-over-year to RMB 782 million and accounting for 45% of public cloud revenue.
The company achieved profitability for the first time, reporting an adjusted operating profit of RMB 15.36 million (0.6% margin) and an adjusted net profit of RMB 28.73 million in Q3 2025.
Adjusted EBITDA margin significantly improved to 33% in Q3 2025, up from 10% in the same quarter last year, following a successful HKD 2.8 billion equity financing round in September, with 80% allocated to AI infrastructure.

Nov 19, 2025, 12:15 PM

Transcript

Kingsoft Cloud Announces Q3 2025 Financial Results

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Kingsoft Cloud Holdings Limited reported total revenues of RMB2,478.0 million (US$348.1 million) for the third quarter ended September 30, 2025, representing a 31.4% year-over-year increase.
Revenue from public cloud services significantly increased by 49.1% year-over-year to RMB1,752.3 million (US$246.1 million), primarily driven by AI demands, with AI gross billing reaching RMB782.4 million.
The company achieved a turnaround in profitability, with adjusted operating profit reaching positive RMB15.4 million (US$2.2 million) and adjusted net profit turning profitable at RMB28.7 million (US$4.0 million) for the first time.
Adjusted EBITDA profit increased by 345.9% year-over-year to RMB826.6 million (US$116.1 million), resulting in an adjusted EBITDA margin of 33.4%.

Nov 19, 2025, 11:54 AM

Press Release

Kingsoft Cloud Announces Strong Q3 2025 Financial Results

Earnings

Revenue Acceleration/Inflection

Kingsoft Cloud Holdings Limited reported total revenues of RMB2,478.0 million (US$348.11 million) for the third quarter ended September 30, 2025, an increase of 31.4% year-over-year.
Revenues from public cloud services significantly increased by 49.1% year-over-year to RMB1,752.3 million (US$246.1 million), with AI business gross billing growing around 120% year-over-year to RMB782.4 million (US$109.9 million).
The company achieved a turnaround to profitability, with adjusted operating profit reaching RMB15.4 million (US$2.2 million) and adjusted net profit of RMB28.7 million (US$4.0 million) for Q3 2025.
Adjusted EBITDA increased by 345.9% year-over-year to RMB826.6 million (US$116.1 million), resulting in an adjusted EBITDA margin of 33.4% for the quarter ended September 30, 2025.

Nov 19, 2025, 11:04 AM

6-K

Kingsoft Cloud Holdings Limited Completes New Share Placing

New Projects/Investments

Kingsoft Cloud Holdings Limited completed the placing of 338,000,000 new shares at HK$8.29 per share on October 2, 2025.
The placing generated gross proceeds of approximately HK$2,802,020,000 and net proceeds of approximately HK$2,759,989,700.
The company intends to use 80% of the net proceeds to support its AI business, including expanding infrastructure and enhancing cloud service capabilities, and 20% to replenish working capital and for other corporate purposes by December 31, 2028.
These new shares represent approximately 7.46% of the company's issued ordinary shares as enlarged by the placing.

Oct 2, 2025, 10:11 AM

6-K

Kingsoft Cloud Announces Pricing of Upsized Share Offering

New Projects/Investments

Kingsoft Cloud Holdings Limited announced the pricing of an upsized HK$2,802 million offering of 338,000,000 ordinary shares at HK$8.29 per share.
The offering is expected to close on or before October 2, 2025.
The company plans to allocate 80% of the net proceeds to support its AI business, including infrastructure expansion and cloud service capabilities, and 20% to replenish working capital and other corporate purposes by December 31, 2028.

Sep 23, 2025, 1:20 PM

6-K

Kingsoft Cloud Proposes Offering of New Shares

New Projects/Investments

Kingsoft Cloud Holdings Limited proposes to offer 282,000,000 ordinary shares in offshore transactions outside the United States to non-U.S. persons.
Morgan Stanley Asia Limited has been appointed as the placing agent for this proposed offering.
The company plans to use 80% of the net proceeds to support its AI business, including expanding infrastructure and enhancing cloud service capabilities, and 20% to replenish working capital and for other corporate purposes by December 31, 2028.
The Placing Shares have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons.

Sep 23, 2025, 9:00 AM

Press Release

Kingsoft Cloud Holdings Ltd Updates Share Capital Movements for April 2025

Share Buyback

Submitted on May 8, 2025, this 6-K filing reports the monthly return for equity issuer covering movements in share capital and securities for April 2025.
The authorized share capital remains at 40,000,000,000 shares with a par value of $0.001 per share.
Issued shares increased by 319,125,000 shares, raising the total from 3,805,284,801 to 4,124,409,801 shares, primarily due to placements/subscriptions.

May 8, 2025, 12:00 AM

6-K

Kingsoft Cloud Holdings Ltd Closes ADS and Share Offering

New Projects/Investments

Offering Closure Announced: The document reports the closing of the offering of 17,300,000 Firm ADSs (and the full exercise of a 2,775,000 Additional ADS option) along with 18,000,000 Offer Shares, with transactions executed on April 17 and April 25, 2025 (documents ).
Disclaimer Notice: It emphasizes that Hong Kong Exchanges and the Stock Exchange of Hong Kong make no warranties regarding the accuracy or completeness of the announcement (document ).
Use of Proceeds: The net proceeds from the offering are planned for investments in infrastructure, technology development, and general corporate purposes (document ).