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Cautious Optimism for Kingsoft Cloud Amid AI-Driven Growth and Cash Flow Challenges
Express News | CICC has raised the target price for kingsoft cloud to $6.50, optimistic about growth and profit prospects.
Institutional researcher upgraded kingsoft cloud (KC.US) target price to $5.5 in 'Great Wall', strengthening cooperation with Xiaomi and kingsoft in the AI era.
Lyon released a report indicating that kingsoft cloud (KC.US) third-quarter results generally met expectations, with total revenue rising by 16% year-on-year, mainly driven by strong public cloud performance and the recovery of enterprise cloud. The adjusted EBITDA profit margin further increased to 9.8%. The company renewed its framework agreement with Xiaomi and kingsoft, further tightening their cooperation, with highlights including an increase in trade revenue and financing limits. Attention is also being paid to the potential revenue increase from Xiaomi's autonomous driving. Lyon anticipates that kingsoft cloud's revenue growth in the fourth quarter will accelerate to 18% year-on-year, while the adjusted EBITDA profit margin is expected to improve further to 13%. The bank raised its estimates.
Major bank rating | Credit Lyonnais: raised kingsoft's target price to 37.2 Hong Kong dollars. The game business had surprises in the third quarter.
On November 21, Guolonghui reported that Citibank published a report indicating that kingsoft's gaming business had surprises, with third-quarter gaming revenue and profits exceeding expectations, and gaming revenue growing by 78% year-on-year. The bank pointed out that the company's gaming performance this year is exceptionally strong, likely laying a high baseline for the fiscal year 2025, but the momentum of the five new games in 2025 remains stable. Citibank raised kingsoft's net profit forecasts for 2024 and 2025 by 26% and 14% respectively, reflecting an upward adjustment in the gaming business forecast. Due to changes in predictions and the potential for better synergy between Xiaomi and kingsoft's ecosystem under the updated framework agreement, the holding company.
Brokerage Focus: Guotai Junan Securities maintains a 'buy' rating on Kingsoft (03888), pointing out that Kingsoft Cloud is expected to benefit from Xiaomi's ecosystem and AI drive to boost its valuation.
Kingwu Financial News | Open securities issued a research report, kingsoft's (03888) office software business revenue in 2024Q3 increased by 12.5% year-on-year, with main products monthly active users increasing by 4.9% year-on-year, accelerating month-on-month. Among them, personal subscription business revenue increased by 17.2% year-on-year, WPSAI 2.0 provides a more convenient creative experience, improving paid stickiness and conversion rate; institutional subscription revenue stabilized year-on-year, with a 23.8% increase compared to the previous month. The bank estimates that the impact of the transition to subscription model (from annual to monthly billing) has significantly decreased, while the company actively expands into state-owned and private enterprises markets, contracts.
Daiwa upgraded kingsoft (03888.HK) target price to 40 yuan as quarterly revenue and profits exceeded expectations.
Dahua Jixian released a report stating that Kingsoft (03888.HK) had a strong performance in the third quarter, exceeding expectations. Revenue increased by 17.8% year-on-year to 2.9 billion RMB, exceeding market expectations. The gross margin increased by 3 percentage points year-on-year to 84.2%, in line with market expectations. Non-International Financial Reporting Standards operating profit was 1.2 billion RMB, with an operating profit margin increasing by 20 percentage points year-on-year to 41%, benefiting from strong revenue growth. Net profit was 0.413 billion RMB, with a net profit margin expanding by 14 percentage points year-on-year to 18.4%. The bank raised its fourth quarter and full-year revenue forecasts for Kingsoft by 9% and 6%, reflecting the "}
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