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Kingsoft announces 2022 Q1 results

Kingsoft announces 2022 Q1 results

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Kingsoft Corporation Limited, a leading Chinese software and Internet service company, has announced its unaudited quarterly results for the three months ended March 31st 2022.

During the period, revenue of Kingsoft increased 19% year-on-year and 2% quarter-on-quarter to RMB1,853m. Revenue from online games and others represented 53% of total revenue. Gross profit increased 14% year-on-year and 4% quarter-on-quarter to RMB1,502.3m.

Jun Lei, Chairman of Kingsoft, commented: “Amidst the evolving market and new challenges, we have successfully seized the opportunity for digital transformation and achieved a decent start in our core businesses. In the online games business, we continued to focus on the R&D of premium games, promote the long-term development of core games and the overseas market expansion.”

Tao Zou, CEO of Kingsoft, added: “The Company maintained steady performance across all businesses in the first quarter. With the contribution of our new mobile games launched in the fourth quarter of 2021, our online games and others business in the first quarter increased by 25% year-on year.”

“JX World III, launched at the end of 2021, achieved excellent performance in the quarter, and further demonstrated our strengths in R&D and operation of premium games. Meanwhile, we continued to optimize our newly launched titles. In April 2022, we received the license approval for JX Online III Origin and launched its open beta on May 13th. In view of globalisation, we strive to increase our product presence in international markets. JX World III was launched in Southeast Asia in March and Wu Lin Xian Xia was launched in Hong Kong, Macao and Taiwan in April, and will also be released in South Korea in the third quarter of the year.”

Jun LEI concluded: “The results we achieved in the first quarter lay a solid foundation for the year. Looking ahead, the Company will continue to adhere to technological empowerment and keep investing in R&D. We will also strengthen our products and services, optimise user experience and strive to build a brighter future together with our users and partners.”