?For Immediate Release?
KINGSOFT ANNOUNCES 2011 THIRD QUARTER RESULTS SUCCESSFUL PRODUCT INNOVATION AND BUSINESS TRANSFORMATION WITH NEW MANAGEMENT TEAM FOCUSING ON LONG-TERM STRATEGIES * * * FINANCIAL HIGHLIGHTSRMB'000 | For the Three Months Ended September 30 (Unaudited) | Change (%) | |
RMB'000 | 2011 | 2010 | Change (%) |
Revenue | 242,707 | 229,237 | 6 |
- Entertainment Software | 165,224 | 155,203 | 6 |
- Application Software | 77,483 | 74,034 | 5 |
Gross Profit | 205,937 | 197,075 | 4 |
Profit Attributable to Owners of the Parent | 74,894 | 84,990 | -12 |
Basic Earnings per Share (RMB cents) | 6.63 | 7.76 | -15 |
September 30 | June 30 | September 30 | |
2011 | 2011 | 2010 | |
Online Games | |||
- Daily Average Peak Concurrent Users | 608,607 | 653,085 | 773,349 |
- Monthly Average Paying Users | 1,186,481 | 1,250,771 | 1,325,056 |
- Monthly Average Revenue per Paying User(RMB) | 46 | 46 | 39 |
(Hong Kong, 24 November 2011) - Kingsoft Corporation Limited
(?Kingsoft? or the
?Company?; SEHK stock code: 03888), a leading entertainment
software, Internet security and application software
developer, distributor and service provider in the PRC,
announced its unaudited results for the three months ended 30
September 2011.
During the period under review, Kingsoft recorded an increase
in both revenue and profit compared with the corresponding
period last year. Revenue increased by 6% year-over-year to
RMB242.7 million and gross profit increased by 4%
year-over-year to
Kingsoft Announces 2011 Third Quarter Results
November 24, 2011 / P. 2
RMB205.9 million. Profit attributable to owners of the parent decreased by 12% year-over-year to RMB74.9 million. Selling and distribution expenses decreased by 3% year-over-year to RMB33.6 million during the period under review. As at 30 September 2011, cash and cash equivalent amounted to RMB1.84 billion. Revenue from the entertainment software business and the application software business represented 68% and 32% respectively of total revenue in the third quarter.
Dr. Hongjiang Zhang, Chief Executive Officer of Kingsoft, commented, ?The past quarter was a challenging one for Kingsoft as we chose to extend the testing cycle of our new games and devote more resources to fine tune our major new game ?Legend of Moon', with the target to achieving long-term sustainable growth of new games. The slowdown of new product releases, the adverse impact of summer vacation in China and sizable R&Dinvestments in mobile application only have a short term effect on our revenue and profits during the period.?
BUSINESS REVIEWEntertainment Software Business
Revenue from the entertainment software business in the third
quarter increased 6% year-over-year to RMB165.2 million. In
the third quarter, the company's existing games continued to
show relatively stable performance. The release of the
expansion pack ?New JX Online III? of the 3D MMO JX Online
III in May has has been successful and raised the game's user
base significantly. To enhance the existing games portfolio,
the company has released expansion packs ?The Grand Master?
(????) of JX Online III and ?LMFJ? (?? ??) of JX World Online
in November 2011. Limited open beta testing for the new game
title
?Legend of Moon? was started in September, 2011 and has
gained positive feedback from users. To expand the testing,
three groups of new servers were added in November. We
believe the official launch of the game will drive the
revenue growth of the company.
Application Software Business
Revenue from the application software business for the third
quarter of 2011 increased 5%
year-over-year to RMB77.48 million. Benefiting from the
improved copyright protection in
China and the Government's support towards domestically
produced software, Kingsoft
WPS Office continued to receive strong sales orders both from
enterprise customers and Government agencies. The mobile
versions of Kingsoft WPS Office in Chinese, Japanese and
English were issued in September and have received positive
feedback from users. With its outstanding quality, WPS Office
has accumulated close to ten thousand corporate
Kingsoft Announces 2011 Third Quarter Results
November 24, 2011 / P. 3
clients and over 50 million individual users within a short
period of a few years. The number of active users of Kingsoft
Internet Security has increased significantly since the
launch of Kingsoft Antivirus 2012 - the Cheetah Version based
on our proprietary 30-core
cloud-based engine. The launch of the ?Guarantee Indemnity?
plan in August provided additional assurance for online
e-commerce users.
growing Kingsoft Internet Security has positioned us as
number two in China's consumer
PC and internet security market. The performance of Kingsoft
WPS has demonstrated the great opportunity of application
software market in China and overseas. Taking account of long
term interests of shareholders, we shall further focus on our
products and make sure
major new products are thoroughly tested before they are
brought to end users.?
Looking forward, Mr. Jun Lei concluded, ?We are very glad to
be able to invite Dr. Hongjiang Zhang and Mr. Shun Tak Wong
to join Kingsoft as the Chief Executive Officer and Chief
Financial Officer respectively. The new management team shall
focus on the long-term strategies in the coming months aiming
for innovation and a leap forward in the
scale of its business. I believe that we will lead Kingsoft
to another new height in the broadened market prospect and
bring good returns to our shareholders in the long run.?
-- END--
Kingsoft Announces 2011 Third Quarter Results
November 24, 2011 / P. 4
About Kingsoft Corporation Limited (Stock Code: 3888)
Kingsoft is a leading Internet-based developer, distributor
and service provider of entertainment software, Internet
security and application software in China. Since the
commercial launch of its first office applications software,
WPS 1.0, in 1989 followed by over
20 years of innovative endeavors, Kingsoft has become well
recognised as a leading software brand in China. Kingsoft has
also rejuvenated itself by successfully transiting from
?the King of package software? legacy to become an Internet
application based model of
Software as a Service.
Kingsoft's main business encompasses on-line games, Internet
security and application software. The Company utilises the
Internet as an effective and relatively secure channel to
market and distribute its products, and has built an
extensive sales and distribution network. Kingsoft launches
numerous well-known software products such as WPS Office,
Kingsoft
PowerWord, Kingsoft Internet Security and online games,
including the JX Series and the First Myth series to retail
customers, corporate clients and Government bodies in China.
The Company is currently building a converged user platform
for its diversified product portfolio and providing users
with a variety of value-added services.
Enhancing the quality of digitalised lifestyle has been the
mission of Kingsoft. Headquartered in Beijing, Kingsoft has
set up R&D centers in Zhuhai, Beijing, Dalian and Chengdu. In
addition to possessing strong R&D capabilities, Kingsoft has
introduced top Internet and on-line game operation talents to
its management team with the aim to enhancing user engagement
and improving the efficiency of operations. Kingsoft will
continue developing new products and expanding its market
share in China, while vigorously penetrating into overseas
markets.
For more information, please visit www.kingsoft.com
Ms. Michelle Feng Harnett
Tel: (86) 10 82325515
Email: ir@kingsoft.com
Ms. Nan Dong
Tel: (852) 2864 4811
Email: nan.dong@sprg.com.hk
Mr. Marcus Keung
Tel: (852) 2114 4967
Email: marcus.keung@sprg.com.hk
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