KINGSOFT CORPORATION LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Kingsoft Corporation Limited
金 山 軟 件 有 限 公 司
(Continued into the Cayman Islands with limited liability)
(Stock Code: 03888)
(Convertible Bonds Code: 40210)
ANNOUNCEMENT OF THE RESULTS
FOR THE THREE MONTHS ENDED 31 MARCH 2022
The board ("Board") of directors (the "Directors") of Kingsoft Corporation Limited (the "Company") announces the unaudited results of the Company and its subsidiaries (the "Group" or "Kingsoft") for the three months ended 31 March 2022.
FINANCIAL HIGHLIGHTS
For the three months ended | Year-on- | Quarter-on- | |||
31 March | 31 March | 31 December | year | quarter | |
2022 | 2021 | 2021 | Change | Change | |
RMB'000 | RMB'000 | RMB'000 | % | % | |
(Unaudited) | (Unaudited) | (Unaudited) | |||
Revenue | 1,853,015 | 1,559,607 | 1,822,110 | 19 | 2 |
Operating profit | 499,451 | 512,061 | 331,399 | (2) | 51 |
Profit/(loss) attributable to | |||||
owners of the parent | 99,386 | 116,572 | (335,102) | (15) | Not applicable |
RMB | RMB | RMB | |||
(Unaudited) | (Unaudited) | (Unaudited) | |||
Basic earnings/(loss) per share | 0.07 | 0.09 | (0.24) | (22) | Not applicable |
Diluted earnings/(loss) per share | 0.06 | 0.08 | (0.25) | (25) | Not applicable |
1
OPERATIONAL HIGHLIGHTS
In March | In March | In December | Year-on-yearQuarter-on-quarter | ||||||||
2022 | 2021 | 2021 | Change % | Change % | |||||||
Office Software | |||||||||||
Monthly Active Devices | |||||||||||
of the key products* (Million) | 572 | 498 | 544 | 15 | 5 | ||||||
As at | As at | ||||||||||
31 December | 31 December | Year-on-year | |||||||||
2021 | 2020 | Change % | |||||||||
Accumulated paying | |||||||||||
subscribers** (Million) | 25.37 | 19.62 | 29 | ||||||||
* | Monthly Active Devices of the key products are defined as the aggregate Monthly Active Devices of WPS Office and | ||||||||||
Kingsoft Powerword across all platforms, excluding WPS Docs and other products. | |||||||||||
** Accumulated paying subscribers | are defined as paying individual subscribers in the past twelve months (excluding | ||||||||||
onetime purchase) in Chinese mainland. |
2
The unaudited condensed consolidated statement of profit or loss, comprehensive income, financial position and cash flows of the Group are listed below:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the three months ended | |||||||||||
31 March | 31 March | 31 December | |||||||||
2022 | 2021 | 2021 | |||||||||
RMB'000 | RMB'000 | RMB'000 | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | |||||||||
Revenue | 871,118 | ||||||||||
Office software and services | 770,992 | 903,901 | |||||||||
Online games and others | 981,897 | 788,615 | 918,209 | ||||||||
1,853,015 | 1,559,607 | 1,822,110 | |||||||||
Cost of revenue | (350,684) | (243,742) | (372,524) | ||||||||
Gross profit | 1,502,331 | 1,315,865 | 1,449,586 | ||||||||
Research and development costs | (608,259) | (491,002) | (684,258) | ||||||||
Selling and distribution expenses | (269,066) | (204,527) | (307,777) | ||||||||
Administrative expenses | (147,245) | (147,618) | (155,461) | ||||||||
Share-based compensation costs | (74,204) | (31,730) | (73,094) | ||||||||
Other income | 99,680 | 90,726 | 108,399 | ||||||||
Other expenses | (3,786) | (19,653) | (5,996) | ||||||||
Operating profit | 499,451 | 512,061 | 331,399 | ||||||||
Other gains, net | 23,027 | 32,992 | 27,676 | ||||||||
Finance income | 115,021 | 90,030 | 114,868 | ||||||||
Finance costs | (36,997) | (35,158) | (35,545) | ||||||||
Share of profits and losses of: | (3,042) | ||||||||||
Joint ventures | (9,100) | (9,507) | |||||||||
Associates | (274,650) | (224,920) | (579,869) | ||||||||
Profit/(loss) before tax | 322,810 | 365,905 | (150,978) | ||||||||
Income tax expense | (33,736) | (66,131) | (52,685) | ||||||||
Profit/(loss) for the period | 289,074 | 299,774 | (203,663) | ||||||||
Attributable to: | 99,386 | ||||||||||
Owners of the parent | 116,572 | (335,102) | |||||||||
Non-controlling interests | 189,688 | 183,202 | 131,439 | ||||||||
289,074 | 299,774 | (203,663) | |||||||||
RMB | RMB | RMB | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | |||||||||
Earnings/(loss) per share attributable to | |||||||||||
ordinary equity holders of the parent | 0.07 | ||||||||||
Basic | 0.09 | (0.24) | |||||||||
Diluted | 0.06 | 0.08 | (0.25) | ||||||||
3
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
PROFIT/(LOSS) FOR THE PERIOD
OTHER COMPREHENSIVE INCOME/(LOSS) Other comprehensive income/(loss) that may be
- reclassified to profit or loss in subsequent periods: Exchange differences:
- Exchange differences on translation into
- presentation currency
- Reclassification adjustments for deemed disposal
- of an associate
Share of other comprehensive income/(loss) of associates
Net other comprehensive income/(loss) that may
- be reclassified to profit or loss in subsequent
- periods
Other comprehensive income/(loss) that will not
- be reclassified to profit or loss in subsequent
- periods:
Exchange differences:
- Exchange differences on translation into
- presentation currency
Equity investments designated at fair value
- through other comprehensive income:
- Changes in fair value, net of tax
Share of other comprehensive income of an associate
Net other comprehensive income/(loss) that will
- not be reclassified to profit or loss in
- subsequent periods
OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD, NET OF TAX
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD
Attributable to:
- Owners of the parent
- Non-controllinginterests
For the three months ended
31 March 31 March 31 December
2022 2021 2021
RMB'000 RMB'000 RMB'000 (Unaudited) (Unaudited) (Unaudited)
289,074 299,774 (203,663)
27,685 (28,475) 68,500
534 | 687 | 1,712 |
(9,668) 42,489 (72,981)
18,551 14,701 (2,769)
(41,174) | 23,854 | (95,910) | |||||
- | - | (2,307) | |||||
- | 21,057 | 16,286 | |||||
(41,174) | 44,911 | (81,931) | |||||
(22,623) | 59,612 | (84,700) | |||||
266,451 | 359,386 | (288,363) | |||||
79,497 | 175,561 | (414,260) | |||||
186,954 | 183,825 | 125,897 | |||||
266,451 | 359,386 | (288,363) | |||||
4
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at | As at | ||
31 March | 31 December | ||
2022 | 2021 | ||
RMB'000 | RMB'000 | ||
(Unaudited) | (Audited) | ||
NON-CURRENT ASSETS | |||
Property, plant and equipment | 1,278,448 | 1,258,503 | |
Investment properties | 161,818 | 157,111 | |
Right-of-use assets | 521,304 | 488,728 | |
Goodwill | 185,564 | 185,564 | |
Other intangible assets | 117,164 | 121,859 | |
Investments in joint ventures | 143,079 | 146,121 | |
Investments in associates | 12,106,924 | 12,130,558 | |
Equity investments designated at fair value | |||
through other comprehensive income | 8,418 | 8,418 | |
Financial assets at fair value through profit or loss | 226,436 | 226,969 | |
Deferred tax assets | 123,471 | 124,674 | |
Other non-current assets | 39,845 | 35,098 | |
Total non-current assets | 14,912,471 | 14,883,603 | |
CURRENT ASSETS | |||
Inventories | 17,987 | 18,577 | |
Trade receivables | 881,404 | 839,268 | |
Prepayments, other receivables and other assets | 1,850,715 | 1,691,939 | |
Financial assets at fair value through profit or loss | 4,421,493 | 2,902,205 | |
Restricted cash | 2,502 | 9,382 | |
Cash and bank deposits | 14,359,029 | 16,190,138 | |
Total current assets | 21,533,130 | 21,651,509 | |
CURRENT LIABILITIES | |||
Trade payables | 459,307 | 423,400 | |
Other payables and accruals | 868,990 | 1,426,585 | |
Lease liabilities | 78,529 | 50,804 | |
Contract liabilities | 2,114,925 | 2,003,324 | |
Income tax payable | 183,171 | 192,071 | |
Total current liabilities | 3,704,922 | 4,096,184 | |
NET CURRENT ASSETS | 17,828,208 | 17,555,325 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 32,740,679 | 32,438,928 | |
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Kingsoft Corporation Limited published this content on 24 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2022 09:07:04 UTC.
