Summary by Futu AI
Kingsoft Cloud announced its mid-term report for 2024, showing a significant increase in gross profit of 52.6%, but still a net loss of RMB 717,334 thousand. During the reporting period, Kingsoft Cloud's total revenue was RMB 3,667.5 million, a slight decrease of 0.9% compared to the same period last year. Public cloud service revenue was RMB 2,421.9 million, and industry cloud service revenue was RMB 1,245.4 million. The company continues to strengthen cost control measures and enhance market competitiveness through technological innovation and service upgrades. Kingsoft Cloud did not distribute any dividends during the reporting period and was not involved in any legal or administrative litigation that could have a significant adverse impact on the company's business, financial condition, or operating performance.