Summary by Moomoo AI
Kingsoft Cloud released its mid-year report for 2024, showing a significant increase in gross profit of 52.6%, but still a net loss of RMB 717.334 million. During the reporting period, Kingsoft Cloud's total revenue was RMB 3.675 billion, a slight decrease of 0.9% compared to the same period last year. Public cloud service revenue was RMB 2.4219 billion, and industry cloud service revenue was RMB 1.2454 billion. The company continues to strengthen cost control measures and enhance market competitiveness through technological innovation and service upgrades. Kingsoft Cloud did not distribute any dividends during the reporting period and was not involved in any legal or administrative litigation that could have a significant adverse impact on the company's business, financial condition, or operating performance.
