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

On the evening of November 23, Beijing time, Jin Shanyun (NASDAQ: KC) today released its results for the third quarter of 2022, which ended September 30. According to the financial report, Jinshan Cloud's total revenue in the third quarter was 1.9688 billion yuan ($276.81 million), down 18.4% from 2.4138 billion yuan in the same period last year. The net loss was 801.4 million yuan ($112.7 million), compared with a net loss of 810.5 million yuan in the previous quarter and 506.7 million yuan in the same period last year. Not in accordance with Non-GAAP, the net loss was 487.4 million yuan ($68.5 million), compared with a net loss of 451.7 million yuan in the previous quarter and 363.7 million yuan in the same period last year.

Third quarter results:

Total revenue was 1.9688 billion yuan ($276.81 million), down 18.4% from 2.4138 billion yuan in the same period last year.

Revenue costs were 1.8464 billion yuan ($259.6 million), down 20.6 percent from 2.3254 billion yuan a year earlier.

Gross profit was 122.4 million yuan ($17.2 million), up 38.5% from 88.4 million yuan in the same period last year. The gross profit margin was 6.2%, compared with 3.7% in the same period last year. Without GAAP, the gross profit was 124.7 million yuan ($17.5 million), compared with 92.2 million yuan in the same period last year. The gross profit margin was 6.3%, compared with 3.8% in the same period last year.

Total operating expenses were 626.6 million yuan (88.1 million yuan), compared with 617.2 million yuan in the previous quarter and 557.5 million yuan in the same period last year.

The operating loss was 504.2 million yuan ($70.9 million), compared with an operating loss of 552 million yuan in the previous quarter and 469.1 million yuan in the same period a year earlier.

The net loss was 801.4 million yuan ($112.7 million), compared with a net loss of 810.5 million yuan in the previous quarter and 506.7 million yuan in the same period last year. Not in accordance with Non-GAAP, the net loss was 487.4 million yuan ($68.5 million), compared with a net loss of 451.7 million yuan in the previous quarter and 363.7 million yuan in the same period last year.

As of September 30, 2022, Kingsoft had cash, cash equivalents and short-term investments of 5.3289 billion yuan ($749.1 million), compared with 5.352 billion yuan as of June 30, 2022.

Performance outlook:

Kingsoft expects total revenue in the fourth quarter of 2022 to reach 2 billion to 2.2 billion yuan, an increase of 1.6 to 11.7 percent from the previous quarter.

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