Sina Technology News Beijing time on March 24 evening news,Jinshan Cloud(NASDAQ: KC) today released financial results for the fourth quarter and full year of 2021 ended December 31. In the fourth quarter, Kingsoft Cloud’s total revenue was 2,659.7 million yuan (RMB, approximately US$417.4 million), an increase of 38.3% compared with 1,922.7 million yuan in the same period last year. The net loss was 482.2 million yuan ($75.7 million), compared with a net loss of 105.2 million yuan a year earlier. Non-GAAP net loss was 556.2 million yuan ($87.3 million), compared with a net loss of 174.3 million yuan a year earlier.
For the whole of 2021, the total revenue is 9.0608 billion yuan (about 1.4218 billion US dollars), an increase of 37.8% compared with 6.5773 billion yuan in 2020. The net loss was 1,591.8 million yuan (about 249.8 million U.S. dollars), compared with a net loss of 962.2 million yuan in 2020. Not in accordance with US GAAP, the net loss was 1.3739 billion yuan (about 215.6 million US dollars), while the net loss in 2020 was 824.4 million yuan.
Fourth quarter results:
The total revenue was 2,659.7 million yuan (about 417.4 million US dollars), an increase of 38.3% compared with 1,922.7 million yuan in the same period of the previous year.
The cost of revenue was 2,631.8 million yuan (about 413.0 million US dollars), an increase of 43.8% compared with 1,830.2 million yuan in the same period of the previous year.
Gross profit was 27.9 million yuan ($4.4 million), compared with 92.6 million yuan a year earlier. Gross profit margin was 1.0%, compared to 4.8% in the same period last year.
Non-GAAP gross profit was 3,320 yuan ($5.2 million), compared with 94.9 million yuan a year earlier. Gross profit margin was 1.2%, compared to 4.9% in the same period last year.
Operating loss was 670.7 million yuan ($105.2 million), compared with an operating loss of 245.3 million yuan a year earlier.
The net loss was 482.2 million yuan ($75.7 million), compared with a net loss of 105.2 million yuan a year earlier.
Not in accordance with US GAAP, the net loss was 556.2 million yuan (about 87.3 million US dollars), compared with a net loss of 174.3 million yuan in the same period last year.
As of December 31, 2021, Kingsoft Cloud had cash, cash equivalents and short-term investments of RMB 6,708.6 million (approximately $1,052.7 million), compared to RMB 6,117.7 million as of December 31, 2020.
2021 full year results:
The total revenue was 9.0608 billion yuan (about 1.4218 billion US dollars), an increase of 37.8% compared with 6.5773 billion yuan in 2020.
The cost of revenue was 8,709.5 million yuan (about 1,366.7 million US dollars), an increase of 40.0% compared with 6,220.3 million yuan in 2020.
Gross profit was 351.3 million yuan (about 55.1 million US dollars), compared with 357.0 million yuan in 2020. Gross margin was 3.9% compared to 5.4% in 2020.
Non-GAAP gross profit was 368.8 million yuan (approximately $57.9 million), compared to 367.6 million yuan in 2020. Gross margin was 4.1% compared to 5.6% in 2020.
The net loss was 1,591.8 million yuan (about 249.8 million U.S. dollars), compared with a net loss of 962.2 million yuan in 2020.
Not in accordance with US GAAP, the net loss was 1.3739 billion yuan (about 215.6 million US dollars), while the net loss in 2020 was 824.4 million yuan.
Performance Outlook:
Kingsoft Cloud expects total revenue in the first quarter of 2022 to reach 2.05 billion to 2.15 billion yuan, a year-on-year increase of 13% to 19%.