Shulou(Shulou.com)11/24 Report--

Sina Science and Technology News Beijing time on the evening of September 6 news, Jinshanyun (NASDAQ: KC) today released the second quarter of 2022 financial results as of June 30. According to the financial report, Jinshanyun's total revenue in the second quarter was 1.9065 billion yuan ($284.61 million), down 12.3% from 2.1737 billion yuan in the same period last year. The net loss was 810.5 million yuan ($121 million), compared with a net loss of 554.8 million yuan in the previous quarter and 220.6 million yuan in the same period last year. Without general accounting standards, the net loss was 451.7 million yuan ($67.4 million), compared with a net loss of 450.9 million yuan in the previous quarter and 235.6 million yuan in the same period last year.

Second quarter results:

Total revenue was 1.9065 billion yuan ($284.61 million), down 12.3% from 2.1737 billion yuan in the same period last year.

Revenue costs were 1.8413 billion yuan ($274.9 million), down 12.1 percent from 2.0939 billion yuan in the previous quarter and 10.4 percent from 2.0552 billion yuan in the same period last year.

Gross profit was 65.2 million yuan ($9.7 million), compared with 80 million yuan in the previous quarter and 118.5 million yuan in the same period last year. The gross profit margin was 3.4%, compared with 3.7% in the previous quarter and 5.5% in the same period last year.

Without GAAP, gross profit was 68.4 million yuan ($10.2 million), compared with 83.6 million yuan in the previous quarter and 121.4 million yuan in the same period last year. The gross profit margin was 3.6%, compared with 3.8% in the previous quarter and 5.6% in the same period last year.

Total operating expenses were 617.2 million yuan (92.2 million yuan), compared with 612.8 million yuan in the previous quarter and 438.9 million yuan in the same period last year.

The operating loss was 552 million yuan ($82.4 million), compared with an operating loss of 532.8 million yuan in the previous quarter and 320.5 million yuan in the same period a year earlier.

The net loss was 810.5 million yuan ($121 million), compared with a net loss of 554.8 million yuan in the previous quarter and 220.6 million yuan in the same period last year.

Without general accounting standards, the net loss was 451.7 million yuan ($67.4 million), compared with a net loss of 450.9 million yuan in the previous quarter and 235.6 million yuan in the same period last year.

As of June 30, 2022, Kingsoft had cash, cash equivalents and short-term investments of 5.352 billion yuan ($799 million), compared with 5.604 billion yuan as of March 31, 2022.

Performance outlook:

Kingsoft expects total revenue in the third quarter of 2022 to reach 1.95 billion to 2.15 billion yuan, an increase of 2.3 to 12.8 per cent month-on-month.

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