Summary by Moomoo AI
KINGSOFT CLOUD ANNOUNCED ON AUGUST 20, 2024 UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2024. The quarterly results showed that the company's total revenue reached RMB1,891.8 million, an increase of 3.1% year-on-year and an increase of 6.5% year-on-year. Public cloud services revenue grew 6.5% and industry cloud services revenue decreased 2.7% year-on-year. The gross profit margin increased from 11.3% to 16.8% in the same period in 2023, with a significant increase of 54.1%. Adjusted EBITDA converted from negative RMB61.4 million in the same period last year to positive RMB60.6 million. The net operating cash inflow was RMB151.2 million, indicating an improvement in the company's operating situation. Mr. Zou Tao, CEO of Jinshanyun, said that the company's “high-quality, sustainable development” strategy continues to deliver results, especially in the field of artificial intelligence revenue growth. Chief Financial Officer Ho Hai Kian also expressed satisfaction with the growth in revenue and profit. Shareholders and potential investors are reminded not to rely on unaudited financial results.