Kingsoft announces third quarter 2024 results

In the field of domestic subscriptions for individual offices, Kingsoft Office Group continued to optimize the functions of WPS AI, providing users with a more convenient and efficient creative experience, further improving user retention and conversion rates. Our domestic institutional subscription business, leveraging the continuous improvement of WPS 365, has steadily made progress in SaaS transformation and expanded its customer base among large and medium-sized private enterprises and local state-owned enterprises. The foreign activities also experienced healthy growth. Regarding AI application innovation, the Group launched a series of core capabilities and solutions, including AI Co-writing, AI Docs (intelligent document library), Kingsoft Government Office Model and the AI ​​assistant WPS Lingxi. The Group also released the WPS HarmonyOS NEXT, further advancing the development of the AI ​​office ecosystem.

Online games and others

For the third quarter of 2024, revenue from online games and other activities for the third quarter of 2024 increased significantly by 78% year-on-year and 33% quarter-on-quarter to RMB 1,708.0 million. The year-over-year and quarter-over-quarter increases were primarily attributed to the excellent performance of JX3 Online and the successful launch of JX3 Ultimate, which further increased the game’s popularity, as well as the active operation and improved experience of other games.

JX3 Online continues to show remarkable resilience. JX3 Ultimate has performed extremely well since launch, and the number of returning players has exceeded expectations. In October, JX3 Online released its annual expansion pack, featuring a new class, increased level cap and innovative gameplay, further increasing players’ emotional engagement and activity. The sci-fi mecha game Mecha BREAK completed its first public beta test in August, with player enthusiasm exceeding expectations and gaining widespread attention worldwide. The game has amassed nearly 3 million pre-registrations worldwide and peaked at 17th place on the Steam Global Wishlist. Additionally, the mobile game The Fate of Sword: Zero has received licensing approval and is scheduled for release next year.

Mr. Jun LEI concluded: “In the third quarter, we focused on refining and optimizing our core products and services to lay a solid foundation for future development. Kingsoft Office Group will continue its long-term investment in AI and collaboration and focusing on the needs of users’ office needs in different scenarios and delivering a more intelligent and efficient office experience. Meanwhile, our online games company will remain committed to continuous innovation and quality improvement, and provide exceptional gaming experience and rich content to global players.”

About Kingsoft Corporation Limited

Kingsoft (3888.HK) is a leading Chinese software and Internet services company listed on the Hong Kong Stock Exchange. It has three main subsidiaries: Kingsoft Office, Seasun Holdings and Kingsoft Shiyou. With the implementation of the ‘mobile Internet transformation’ strategy, Kingsoft has completed a comprehensive transformation in its overall business and management model. The company has established a strategic layout with office software and interactive entertainment as pillars, and cloud services and artificial intelligence as new principles. Kingsoft has almost 8,000 employees worldwide and has a significant market share domestically. For more details, please refer to http://www.kingsoft.com.

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