Kingsoft Cloud reported second-quarter 2025 revenue of RMB2,349.2 million, up 24.2%, and a consolidated net loss of RMB456.9 million

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Kingsoft Cloud Holdings, a cloud service provider in China listed on Nasdaq and the Hong Kong exchange, announced its unaudited results for the second quarter ended June 30, 2025 on Aug 20, 2025. Total revenue was RMB2,349.2 million (US$327.9 million), up 24.2% from RMB1,891.8 million a year earlier and up 19.3% from RMB1,970.0 million in the first quarter. The company reports in renminbi; its dollar figures are translations at RMB7.1636 to US$1.00, the noon buying rate of June 30, 2025, given for the reader's convenience.1^,2^,3^,4

The company said the revenue increase was mainly due to expanded revenue from AI-related customers. Revenue from public cloud services was RMB1,625.3 million, up 31.7% from RMB1,234.5 million a year earlier, and revenue from enterprise cloud services was RMB723.9 million, up 10.1% from RMB657.2 million. Tao Zou said in the release that gross billing of the AI business, a figure the company states apart from revenue, rose by over 120% from a year earlier to RMB728.7 million, which he said accounted for 44.8% of public cloud services.5^,6^,7^,8

Gross margin was 14.4%, against 16.8% a year earlier; the company attributed the fall mainly to higher server costs as its AI business expanded and to upfront costs for certain customers. Operating loss was RMB327.0 million, against RMB277.6 million a year earlier, mainly because of higher credit loss, the company said. Net loss, which includes the share of non-controlling interests (other owners of its subsidiaries), was RMB456.9 million, against RMB353.7 million a year earlier, and the company attributed the increase mainly to higher credit loss expenses and higher interest expense on the loans and financial leases it used to acquire servers. The net loss attributable to the company's shareholders, which leaves that share out, was RMB457.5 million.9^,10^,11^,12

The company also reported non-GAAP EBITDA, a measure it defines itself, of RMB406.0 million, up 570.1% from RMB60.6 million a year earlier. It starts from net loss excluding share-based compensation and foreign exchange loss, then excludes interest income, interest expense, income tax and depreciation and amortization. The company said the increase was mainly due to the expansion of its AI business with a higher margin.13^,14^,15^,16

Cash and cash equivalents were RMB5,464.1 million at June 30, 2025, against RMB2,322.7 million at March 31, 2025, which the company put mainly down to a public equity offering with a concurrent private placement to Kingsoft Corporation and a prepayment from a strategic customer.17

The results release and a second one, on senior management changes, were filed as exhibits to a Form 6-K, the report that foreign companies listed in the US file with the SEC. The second said the board had appointed Yi Li chief financial officer, effective immediately. The same release said she was then the acting chief financial officer, a vice president and the finance director of Kingsoft Corporation Limited, which she joined in 2007.18^,19^,20^,21