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Company Profile
Chairman Lei Jun
Share Issued (share) 1,373M
Par Currency USD
Par Value 0.0005
Industry Software
Corporate Profile Business Summary:
The Group is principally involved in the following principal activities:
• research and development of games, and provision of online games, mobile games and casual game services;
• provision of cloud storage and cloud computation services; and
• design, research and development and sales and marketing of the office software products and services of WPS Office.

Performance for the year:
Profit attributable to owners of the parent before the effect of share-based compensation costs (including that from continuing operations and a discontinued operation) is RMB536.8 million and RMB3,406.7 million for the years ended 31 December 2018 and 31 December 2017, respectively. For the year ended 31 December 2017, The company recognized a gain on deemed disposal of a subsidiary of RMB2,224.3 million. Excluding the aforesaid deemed disposal gain, profit attributable to owners of the parent is RMB389.2 million for the year ended 31 December 2018 (2017: RMB977.5 million), representing a 60% decrease year-on-year.

BUSINESS REVIEW:
The company delivered a steady fourth quarter in 2018 and our revenue continued to grow. I was encouraged by the outstanding performance of our cloud services and office software and services during the quarter and the year. One of the highlights was Kingsoft Cloud’s progressing in video cloud sector with strong revenue growth. WPS Office products continued to attract more and more users, and an ecosystem surrounding the products was gradually established. The company launched a new season for our flagship JX Online III PC game, and our existing mobile game JX Online I maintained its performance during the quarter, even though China’s game market experienced a number of uncertainties at the time. The development in these businesses was in line with our strategic planning.

Our top line in the fourth quarter continued to grow, increasing 27% year-on-year and 14% quarter-on-quarter to RMB1,759.0 million. The revenue growth reflected our strong and stable execution capability under the changing environment. The company was particularly delighted to see that the cloud services and office software and services and others businesses maintain their robust growth during the quarter, with revenue reaching a 20% and a 46% quarter-on-quarter growth, respectively.

With the changing market and regulation environment in China, the performance of our online games business was under pressure in 2018. Nevertheless, our flagship PC game JX Online III launched a new season in this quarter and was much welcomed by our gamers. The update of the game not only provided our gamers with a new game experience, but also strengthened our confidence in the long term development of the game. In 2018, The company continued to host JX Online III Masters Competition to further develop the Esports business. The peak concurrent viewers of the competition reached 11.23 million across all the streaming platforms in 2018, which helped to bring new value to our classic IP. Our existing mobile game JX Online I performed well during the quarter and maintained its popularity among gamers. The company released new mobile games including JX World II and the Legend of Sword and Fairy 4 in 2018, which also recorded decent performances. The company is going to focus on our cooperation with Tencent in the coming year on the release of our key mobile games JX Online III and JX Online II. Going forward, in response to the changing market and rapidly evolving game industry, The company will continue to focus on improving user experience and provide high-quality content.

In the fourth quarter, Kingsoft Cloud maintained its leading position in video sector, with breakthroughs in enterprise cloud markets such as government, finance, health care and media, leading to a rapid growth of the business. Under the changing network environment and player terminal, the revenue of video cloud business continued its fast growth, with achievements in the application of artificial intelligence (“AI”)-based products such as Image Enhancement and Smart High Definition for video cloud services. Regarding the financial cloud, Kingsoft Cloud became an important cooperative partner with China Construction Bank during the bank’s strategic Fintech transformation. In the face of an increasingly competitive market, Kingsoft Cloud is confident to continue to develop the verticals by leveraging its established cloud ecosystem, talented team and strong research and development capabilities. Kingsoft Cloud will work with upstream and downstream partners, continue to promote the all-cloud services and strive to meet the customer needs for optimizing cost and better experience.

For the fourth quarter of 2018, WPS Office continued its healthy growth by adding a series of smart and efficient products and features to attract a larger user base. As of November 2018, the monthly active users (“MAU”) of Android WPS Office had exceeded 100 million in Mainland China. The MAU of WPS Docs, our online collaborative office application, exceeded 69 million within four months after its release, and at the same time, the users of its WeChat Mini Program version exceeded 80 million at the end of 2018. My WPS, the WeChat Mimi Program serving WPS members, ranked among the top 10 mini programs on the Aladdin Index and was the only utility application on the list. With its rapid growth in overseas markets, WPS Office recently won the “2018 Top App for Overseas Growth” presented by App Annie. After teaming up with Alibaba’s DingTalk in December 2018, WPS provided a customized Web Office for DingTalk Smart Docs, aiming to create a smart office ecosystem through its open platform. To better meet the needs of government and enterprise clients, WPS 2019 rolled out new features in security and collaboration. At the global “AI Challenger 2018”, our AI LAB team won the first and second place in the competition of machine translation, which is an AI technology in natural language processing that will be applied to our smart writing products. Such technology is expected to greatly enhance the user experience in creative writing and office work.

Prospects:
In the face of the changing market condition, The Group achieved a year of steady revenue growth with the Group’s hard work in 2018. the Group 's profitability was affected, yet the Group 's fundamentals remained intact. Looking ahead, The Group see a clear momentum of growth driven by the further development of all the Group 's businesses. The Group expect to bring the Group 's new flagship mobile games to the Group 's users within this year and continue the strong growth and development of the Group 's cloud services and office software and service businesses. With these moves, I am confident that the Group 's performance will improve in the coming year.
Information from the financial statements of listed companies
Last Update: 2019/04/29
 
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