Kingsoft sees net profit soar 221pc to 1.55b yuan

Chinese software company Kingsoft (3888) saw its net profit skyrocket 221 percent year-on-year to 1.55 billion yuan (HK$1.67 billion) in 2024.

Revenue grew by 21 percent year-on-year, reaching 1.03 billion yuan during the same period. Office software and services, online games, and other segments contributed 50 percent to the company’s total revenue for the year.

Revenue from its office software and services segment grew by 12 percent year-on-year in 2024, reaching 5.12 billion yuan.

Concurrently, revenue from its online games and other segments saw a 31 percent year-on-year increase, totaling 5.2 billion yuan. This substantial growth was largely driven by the strong performance of its JX3 Online and Snowbreak: Containment Zone titles.

Kingsoft chairman Lei Jun stated that it achieved a revenue milestone, hitting its first 10 billion yuan last year.

Lei added that in 2025, the company will enhance artificial intelligence applications in the office sector and focus on high-quality strategies for its global online gaming business.

GORDON YANG