Stock Track | Kingsoft Soars 7.84% in Intraday Trading on Strong Q1 Earnings and 90% AI Business Growth

Stock Track06-01 10:04

Kingsoft's stock price surged 7.84% during intraday trading on Monday, reflecting strong investor confidence following the release of impressive first-quarter financial results from its subsidiaries.

The significant price movement comes after Kingsoft Cloud reported Q1 total revenue of RMB 2.704 billion, representing a 37.2% year-over-year increase, with its AI business gross revenue surging 90% to account for half of public cloud service revenue for the first time. Meanwhile, Kingsoft Software reported Q1 office software and services revenue of RMB 1.613 billion, up 24% year-over-year, driven by WPS AI monthly active user growth and improved paid conversion rates.

Additionally, the group's net profit jumped 284% to RMB 1.091 billion, while the upcoming Hang Seng Tech Index rebalancing on June 8 is expected to remove prior passive selling pressure. The company also announced the appointment of Zhao Yu as new CFO effective June 1, filling a position that had been vacant for four years.

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