HONG KONG, Nov 12, 2013 - (ACN Newswire) - Kingsoft Corporation Limited ("Kingsoft" or the "Company;" SEHK: 3888), a leading Chinese software and Internet service company, announced its unaudited quarterly results for the three months ended 30 September 2013.
During the period under review, the revenue of Kingsoft increased by 11% quarter-over-quarter and 51% year-over-year to RMB551.1 million. Revenue contributions from online game and application software businesses represented 49% and 49%, respectively, of the total revenue during the third quarter of 2013. Gross profit increased by 9% quarter-over-quarter and 47% year-over-year to RMB471.3 million. Profit attributable to owners of the parent in the third quarter increased 12% quarter-over-quarter and 51% year-over-year to RMB163.3 million.
Dr. HongJiang Zhang, Chief Executive Officer of Kingsoft, said, "The growth momentum continued during the third quarter of 2013. Benefiting from the steady development of all major business lines, especially KIS and Kingsoft WPS Office, our total revenue reached another record high of RMB551.1 million, representing a year-over-year increase of 51%. We continue to see strong overall growth of our monthly active mobile users, which posted over 150 million as end of this September."
FINANCIAL HIGHLIGHTS
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RMB'000 For the 3 months ended Sept 30 Change
(unaudited) 2013 2012 (%)
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Revenue 551,130 365,387 51
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-Entertainment software 270,984 210,957 28
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-Application software 270,395 151,771 78
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- Others 9,751 2,659 267
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Gross profit 471,331 320,915 47
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Profit Attributable to
Owners of the Parent 163,276 108,082 51
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Basic Earnings/Share (RMB cents) 14.10 9.44 49
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OPERATIONAL HIGHLIGHTS
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Sept 30 June 30 Sept 30
2013 2013 2012
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Online Games
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-Daily Av. Peak Concurrent Users 614,263 611,474 616,285
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-Monthly Average Paying Users 1,791,194 1,524,761 2,002,414
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-Monthly Average Revenue per
Paying User(RMB) 48 46 43
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BUSINESS REVIEW
- Online Games Business
In the third quarter of 2013, thanks to the growth of JX Online III and MAT, Kingsoft's game portfolio recorded a steady performance against the weak quarter. Revenue from the online game business increased 28% year-over-year to RMB271.0 million. JX Online III achieved 18% growth quarter-over-quarter to RMB123.7 million as the release of expansion pack "Chang An in Trouble Times" in September has more than offset the adverse impact of summer holiday on other games. In November 2013, another new expansion pack for JX Online III will be launched, targeting to further consolidate population and increase revenue of the game. Moreover, a new 3D MMO game, Jiutian Myth will be launched in the fourth quarter.
In addition, research and development on web games and mobile games have also continued. The Company's initiative in children's game, Young Elf King had over 2 million monthly login accounts in September. In order to grow the user base further, the commercialization of the game has been postponed to the end of the fourth quarter. Currently, Kingsoft has 9 mobile games in R&D process, and shall continue to increase the user base of Kingsoft games across devices.
- Kingsoft Internet Security and Kingsoft WPS Office
Revenue from the application software business for the third quarter of 2013 increased 23% quarter-over-quarter and 78% year-over-year to RMB270.4 million.
Supported by the deepened cooperation with advertisers and the strong growth of Kingsoft Internet Security ("KIS") game platform, the advertising revenue and value-added revenue from KIS increased 25% quarter-over-quarter and 144% year-over-year in the third quarter. The Company continued to invest heavily in KIS mobile services and the monthly active mobile users of KIS family exceeded 123 million in September 2013. Also, the monetization of KIS mobile user traffic has delivered promising results. There are nearly 400 mobile games on KIS mobile game platform currently.
Kingsoft WPS Office achieved significant growth in the third quarter, with revenue rising 37% quarter-over-quarter and 35% year-over-year. Chinese State Council issued a policy on government agencies to use genuine software in August, 2013. This milestone in IPR protection policy shall benefit the business of Kingsoft WPS Office in the long run. In addition, revenue from WPS free user traffic has become a new growth catalyst, while the global monthly active users of WPS mobile office surged to 25 million in September, 2013 from 6 million a year ago.
Dr. HongJiang Zhang, Chief Executive Officer of Kingsoft, concluded, "We are pleased to see that Kingsoft has again delivered a strong business performance. In the third quarter of 2013, JX Online III, our flagship game product has recorded a steady performance against the weak quarter; the monetization of KIS mobile user traffic has delivered promising results; Kingsoft WPS Office has achieved tremendous growth benefiting from the national policy. We will adhere to the "3+1" strategy, grasp the policy opportunity as well as market demand, to deliver the best products and services to all of our users."
Contact:
Kingsoft Corporation Limited
Ms. Ou Lu
Tel: +86 10 62927777 ext.5581
Email: ir@kingsoft.com
Topic: Earnings
Source: Kingsoft Corporation Limited
Sectors: Daily Finance, IT Individual, eSports, Gaming
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