Kingsoft Achieves Record Revenue and Profit Growth in 2024
Hong Kong-listed software and internet firm Kingsoft Corporation (HKEx: 03888) posted a 21% year-on-year revenue increase to RMB10.32 billion in 2024, marking the first time the company surpassed RMB10 billion in annual revenue. Operating profit surged 64% year-on-year to RMB3.65 billion, with gross profit reaching RMB8.58 billion. The company attributed this growth to strong performances across its office software and gaming divisions, with Chairman Jun Lei emphasizing the impact of AI-driven innovation and product expansion.
AI-Powered Office Solutions and Strong Gaming Performance
Kingsoft’s office software division saw a 12% revenue increase to RMB5.12 billion, led by WPS 365 and AI-powered enhancements. The company expanded its presence in both state-owned enterprises and private firms, while AI-integrated tools significantly improved user engagement and conversion rates. Meanwhile, the online gaming division posted a robust 31% revenue jump to RMB5.20 billion, driven by titles such as JX3 Online and Snowbreak: Containment Zone. Looking ahead, Kingsoft plans to expand into new gaming genres with upcoming releases including the sci-fi mech game Mecha BREAK and the shooter title Wild Assault.
2025 Outlook: AI, Cloud, and Global Expansion
Kingsoft plans to deepen AI adoption in its office productivity tools while expanding WPS 365’s market reach globally. On the gaming front, the company is focusing on premium titles and diversifying its portfolio with new intellectual properties. CEO Tao Zou reaffirmed the company’s commitment to technology-driven innovation, stating, “We remain focused on expanding our core businesses, leveraging AI and gaming to drive long-term value creation.”
