Kingsoft's 2024 revenue surpasses $1.3bn, profit jumps 221%

Kingsoft Corporation (HKEX:3888) announced record 2024 results, with revenue reaching RMB10.317 billion (approximately $1.32 billion USD), a 21% increase year-over-year. Profit attributable to owners of the parent surged 221% to RMB1.551 billion. This growth was fueled by strong performances in both its office software and services (WPS Office) and online games segments, with both exceeding RMB5 billion. The company's operating profit margin increased to 35%, up from 26% in 2023. The Board has recommended a final dividend of HK$0.15 per share, payable on June 18, 2025, subject to shareholder approval. Kingsoft Office, a subsidiary listed on the SSE STAR Market, also reported strong financials, with revenue up 12.4% to RMB5.120 billion and net profit attributable to shareholders up 24.84% to RMB1.645 billion. Additionally, Kingsoft repurchased 21,062,800 of its own shares at a total cost of HK$435.60 million during the year.