Zhitong Finance APP learned that $KINGSOFT CLOUD (03896.HK)$It rose over 13% again, skyrocketing more than 50% in the last three days. As of the time of this report, it has increased by 13.10%, priced at 3.54 HKD, with a transaction volume of 0.578 billion HKD.

On the news front, kingsoft cloud recently announced its performance for the third quarter of 2024, with a total revenue of RMB 1.886 billion, a year-on-year increase of 16.0%; public cloud revenue reached 1.18 billion yuan, up 15.6% year-on-year; industry cloud revenue reached 0.71 billion yuan, up 16.7% year-on-year; gross profit was RMB 0.3034 billion, an increase of 54.6% year-on-year; adjusted EBITDA reached 0.19 billion yuan, with an adjusted EBITDA margin of 9.8%, continuing to improve steadily on the basis of turning positive in the previous two quarters, and a significant year-on-year increase of 12.6 percentage points.

CICC stated that kingsoft cloud's third-quarter revenue increased by 16.0% year-on-year to 1.89 billion yuan, in line with market expectations; adjusted EBITDA reached 0.185 billion yuan, significantly exceeding market expectations, benefiting from effective cost and expense control. Looking ahead to the full year, the bank expects the company's total revenue to reach 7.7 billion yuan, with Xiaomi and kingsoft ecology revenue share expected to increase from 16% last year to over 20%, and the proportion of AI business revenue to total revenue expected to reach approximately 15-20%. It is estimated that the company's total revenue for the fourth quarter will reach 2.1 billion yuan, a 22% year-on-year growth.

Editor/ping