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Cell therapy is promising in treating psychiatric disorders, such as depression. — A proof-of-principle study published in “Cell Stem Cell” by the laboratory of Dr. Chen, founder of UniXell Biotech, suggests this.

SHANGHAI, Aug. 20, 2025 /PRNewswire/ — On August 11, 2025, the research team led by Professor Yuejun Chen, founder of UniXell Biotech, published an article titled “Human stem cell-derived A10 dopaminergic neurons specifically integrate into mouse circuits and improve depression-like behaviors” in Cell Stem Cell, featured as a cover story. This study marks the first establishment of a technique to efficiently and directionally differentiate human pluripotent stem cells (hPSCs) into A10 subtype dopamine neurons. This breakthrough lays a critical scientific foundation for cell therapy of psychiatric disorders such as depression.

In this study, the R&D team of UniXell Biotechnology played a crucial role in manuscript preparation/cell differentiation, transplantation, and immunohistochemistry analysis/cell line establishment, driving the entire process from proof-of-concept to publication and providing key support for the high-quality presentation of the research outcomes. 

Depression is one of the most common mental disorders in the 21st century, projected to become one of the top three causes of global disease burden by 2030. Despite the widespread clinical use of existing antidepressant drugs, approximately one-third of patients suffer from treatment-resistant depression (TRD), showing poor response to current pharmacotherapies. The fundamental symptoms exhibited by depression patients, such as anhedonia and anxiety disorders, are closely associated with the regulatory network of A10 dopaminergic neuron subtypes.

The authors found that whether hPSC-derived A10 dopaminergic neurons were transplanted into the mouse VTA (orthotopic transplantation) or the nucleus accumbens (heterotopic transplantation), the grafted cells could accurately project to the target brain regions of endogenous A10 subtype dopaminergic neurons and specifically integrate into the host neural circuits. This result demonstrates that A10 dopaminergic neurons possess remarkable subtype specificity and precise neural circuit integration capabilities.

When chemogenetically engineered transplanted A10 dopaminergic neurons were activated by specific ligands, the host mice exhibited significant anti-anxiety and anti-depression phenotypes in behavioral experiments. This study is the first to demonstrate that transplantation of hPSC-derived A10 dopaminergic neuron subtypes can reconstruct this neural circuit and improve behavioral abnormalities in modeled mice, providing a novel approach for cell therapy in psychiatric disorders.

“This represents a milestone in the relatively unexplored field of cell therapy for mental illnesses. The study will initiate the clinical translation of using A10 dopaminergic neurons for depression at UniXell, which I believe will establish UniXell as a leading biotech in the field of cell therapy for psychiatric disorders,” said Dr. Chen.

About UniXell Biotechnology

Shanghai UniXell Biotechnology Co., Ltd. was established in 2021, focusing on cell therapy drug development for neurological diseases such as Parkinson’s disease and epilepsy. The company possesses a 4,000-square-meter R&D center and GMP facility, and has developed four innovative technology platforms based on reprogramming technology, stem cell differentiation technology, SISBAR lineage tracing technology, and high-precision gene editing. By 2025, the company has filed over 20 patent applications, with 4 granted utility model patents and 6 software copyrights. Its self-developed cell therapy drugs have received IND approvals from both China’s National Medical Products Administration (NMPA) and the U.S. Food and Drug Administration (FDA). Two subjects have successfully dosed, with postoperative data indicating good recovery.

ITWA 2025: Connecting Global Opportunities for Automotive, Electronics, Display & New Materials Industries – From Shenzhen’s Industrial Hub

SHENZHEN, China, Aug. 20, 2025 /PRNewswire/ — The ITWA Industrial Tech World Asia 2025 (ITWA 2025) will make its grand debut with a refreshed brand identity at the Shenzhen World Exhibition & Convention Center (Bao’an) from October 28-30. This landmark event, hosted by RX Greater China and its local partners,featuring eight co-located industrial exhibitions, is set to gather 3,500 exhibitors and 165,000 attendees from around the world, focusing on four key advanced manufacturing sectors: automotive, electronics, display technologies, and new materials.

Leveraging China’s visa-free policy for 158 countries, the show aims to bridge global businesses with the innovation powerhouse of the Guangdong-Hong Kong-Macau Greater Bay Area. With 160,000 sq.m. of exhibition space and over 80 professional forums, it centers on “new productive forces” to drive cross-border industrial collaboration and innovation.

A Unified Ecosystem of Eight Key Shows

ITWA 2025 integrates eight complementary exhibitions to break down industry silos and create a seamless mega platform for cross-industry synergy:

Showcasing Industrial Strength

Building on the success of last November’s event, which drew 3,500 exhibitors, 151,383 professionals, and 3,170 international buyers from 91 countries, ITWA 2025 will feature:

  • EV Tech: Highlights include smart driving, connected cabins, and low-altitude mobility solutions, with interactive test zones. Exhibitors like Neolix, Auto city, Rino ai, Shenzhen Hangsheng Electronics, Appotronics and Genvict will showcase cutting-edge EV and IoT innovations.
  • Electronics Manufacturing: A new “Flexible Production & Intelligent Conveyance Zone” and “Embodied Intelligent Robot Core Components Zone” will feature Yamaha, Omron, Hanwha Group, FUJIFILM, Kurtz and Keyence.
    In July 2025, RX China and CMVU forged a strategic partnership whereby VisionChina 2025 will form part of ITWA and feature an Innovation Zone alongside four core application areas. Global leaders including Keyence, Luster, Daheng, I-TEK, HuaRay, Basler, Baumer, Nikon, SmartMore will showcase AGVs, collaborative robots, and automation solutions.
  • Display Technologies: Focused on PLP packaging, OLED, and automotive displays, with exhibitors including BOE, TCL, CVTE, iFLYTEK, Truly Opto and China Southern Glass.
  • Advanced Materials: Four dedicated zones for adhesives, smart die-cutting, and high-performance materials, featuring 3M, Shuangxing, Youyi Group, Xiangyu Film and Shaanxi Beiren, plus a first-ever “Factory Direct Purchase Festival” for cost-efficient sourcing.

Global Collaboration & Forums

“Country Days” will connect buyers from Southeast Asia, South Asia, and the Middle East, with delegations from Vietnam, Thailand, Malaysia, Singapore, Indonesia and India. A new Hong Kong Pavilion, in partnership with APCVIA and HKPC, will link Hong Kong’s automotive sector to APAC partners.

Over 80 forums will address trends like Industry 4.0 and ESG, including the AWC Intelligent Vehicle Conference and Global E-Paper Technology Summit.

Pre-register Now for Access to 8 Co-located Events & Save $15 Instantly!

Pre-registration grants free access to all eight shows, priority forum seats.

Visitor Registration: https://ali2.infosalons.com.cn/reg/NEPCON25FORM/web/MEGASHOW25VST/#/login?lang=zh-CN

Join us at China’s silicon valley – Shenzhen this October—where global opportunities meet Asian innovations.

For more information, registration details, or to schedule interviews, please visit : https://www.rxglobal.com.cn/zh-cn/megaen.html

About RX

RX is a global leader in events and exhibitions, leveraging industry expertise, data, and technology to build businesses for individuals, communities, and organisations. With a presence in 25 countries across 41 industry sectors, RX hosts approximately 350 events annually. RX is committed to creating an inclusive work environment for all our people. RX empowers businesses to thrive by leveraging data-driven insights and digital solutions. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. For more information, visit www.rxglobal.com.

About RX Greater China

Boasting more than 40 years of rapid growth, RX has made its name as a well-respected and professional event organizer in Greater China. It owns a fleet of wholly-owned companies and joint ventures that host more than 70 high-caliber international trade shows across 9 key industry clusters, including Automotive Manufacturing, Electronics Manufacturing, Smart Manufacturing, Medical Pharmaceuticals & Healthcare, Beauty & Cosmetics, Lifestyle, Printing Converting & Packaging, Gift & Retail, Metalworking & Industrial Materials. In addition, RX Greater China has built a diversity of digital platforms. From brand promotion, innovation inspiration, people connection, leads generation to insights capturing and knowledge updating, we empower businesses to thrive throughout the year. www.rxglobal.com.cn

About ITWA

ITWA (Industrial Tech World Asia) is Asia’s premier trade show for cross-sector technology integration and industrial transformation. Held in Shenzhen, a recognized innovation hub, this mega show has further expanded in scale this year under the strategic partnership between RX and the China Machine Vision Union (CMVU) to feature 8 flagship events spanning machine vision, advanced electronics manufacturing, NEV technologies, next-generation displays and advanced materials, showcasing cutting-edge solutions and fostering valuable connections. ITWA serves as a vital platform for international business collaboration and technological innovation, connecting upstream and downstream industries. It helps you seize opportunities in Asian markets, expand global partnerships and chart a new course for the future of industrial technology.

Contact Us:

Visiting and Co-operation, please contact

For Exhibiting, please contact

For Hosted Buyer Application and Matchmaking Enquiry, please contact

For Media and Partnership Enquiry, please contact 

Energy Plug Technologies Corp. Completes First U.S. Sale Through Partnership with GGVentures of the Carolinas


Vancouver, British Columbia – Newsfile Corp. – August 20, 2025 – Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) (“Energy Plug” or the “Company“) is pleased to announce its first sale in the U.S. market: a pilot order for three 209kWh Secure Energy Storage Systems (627 kWh total), valued at over C$290,000. The units will be deployed in the construction sector through our distribution partner, GGVentures of the Carolinas, LLC (“GGV”).

The systems are expected to arrive on-site within 10 days for initial testing, marking a critical step toward a potential broader deployment in 2025, pending successful evaluation. This pilot project opens the door to expanded product adoption and broader market penetration in the coming year.

Energy Plug is actively ramping up its sales efforts and is in discussions to expand into European and Latin American markets. As global governments integrate large-scale battery storage into their energy transition strategies, the Company is well-positioned to meet demand with scalable solutions, custom engineering, and long-term system support.

The rapid growth of AI data centers and quantum computing infrastructure is driving unprecedented demand for high-density, uninterrupted power solutions. These technologies require stable and secure energy supply, often in locations where grid reliability is not guaranteed. Energy Plug’s modular battery systems are ideally suited to meet these emerging needs, offering scalable, clean energy storage with the reliability and flexibility required to support next generation computing environments.

“Our entry into the U.S. market unlocks significant growth opportunities-particularly within the oil and gas sector-for our Secure Energy Storage System. It also marks the establishment of our first active distribution and deployment channel in the United States. Beyond traditional markets, we are seeing rapidly increasing interest from cybersecurity firms, defense contractors, AI data centers, and other mission-critical infrastructure sectors that demand reliable, high-performance energy solutions. The Company has been actively engaged in high-level meetings and leading industry trade shows, where we’ve showcased both our current energy solutions and our customizable offerings-including the ongoing development of an innovative quantum-integrated system tailored to meet the evolving demands of secure and high-performance infrastructure. Supported by a network of strategic partners, Energy Plug is uniquely positioned to deliver scalable, resilient, and future-ready energy systems for next-generation applications,” stated Paul Dickson, CEO, Energy Plug.

About GGV

GGVentures of the Carolinas brings deep, hands-on operational expertise to the partnership. The firm has led every phase in the lifecycle of large-scale capital projects-including planning, engineering, construction, operations, and decommissioning-with a track record totaling over $5 billion USD in global energy and infrastructure project value.

About Energy Plug Technologies Corp.

Energy Plug Technologies Corp. is a leader in secure and resilient energy storage solutions, advancing next-generation battery technologies for residential, commercial, and utility applications. The Company is committed to enhancing grid stability, cybersecurity, and sustainable energy adoption, working in collaboration with leading technology firms, government agencies, and Indigenous communities. For more information, visit https://energyplug.com.

Contact Information
Energy Plug Technologies Corp.
Paul Dickson
CEO, Director
info@energyplug.com
(604) 283-1262

Forward-Looking Statements
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Energy Plug Technologies Corp.’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

The issuer is solely responsible for the content of this announcement.

About Energy Plug Technologies Corp.

History Made: Deep Sky Alpha Begins Operations with North America’s First CO2 Storage via Direct Air Capture

One year after breaking ground, Deep Sky achieves a global milestone in carbon removal

INNISFAIL, AB, Aug. 20, 2025 /PRNewswire/ — Deep Sky, Canada’s leading carbon removal project developer, today announced that Deep Sky Alpha has officially begun operations, marking the successful start of carbon removal and North America’s first-ever sequestration of CO₂ captured directly from the atmosphere.

 

Deep Sky Alpha Begins Operations with North America’s First CO2 Storage via Direct Air Capture

Located on 5 acres in an industrial park in Innisfail, Alberta, Deep Sky Alpha went from breaking ground to operational in just 12 months, demonstrating rapid deployment of climate infrastructure. The facility brings together multiple direct air capture (DAC) technologies, enabling scale, speed, and innovation. Alpha allows for real-world operations and optimization of multiple technologies under identical conditions, accelerating the industry’s path to cost-effective, scalable carbon removal.

“This is a defining moment, not just for Deep Sky, but for the global carbon removal industry,” said Alex Petre, Deep Sky CEO. “In just one year, we went from breaking ground to pulling carbon from the sky and locking it underground for good. Companies around the world are looking for high-quality, durable carbon removal to offset carbon footprints. With Deep Sky Alpha, we’re proving that it’s not only possible, it’s here.”

With this milestone, Deep Sky Alpha becomes the first DAC facility in North America to sequester CO₂ underground. The CO₂ captured at Deep Sky Alpha is permanently stored underground in deep geological formations called saline aquifers, which are abundant in Alberta, making it a key solution for hard-to-abate emissions and net zero commitments.

Alberta continues to lead the way in attracting world-class innovation and this is an example of another company that has chosen Alberta because of our skilled workforce, strong regulatory system, and commitment to responsible development,” said Rebecca Schulz, Minister of Environment and Protected Areas. “We’re proud to see companies investing here — and proving once again that Alberta is the best place in the world to build, innovate, and grow.”

Captured CO₂ comes from multiple Direct Air Capture units on site from all around the world – with additional units being installed this fall and room for up to 10 units total. Featured units that are currently commissioning include UK based Airhive and Mission Zero Technologies, and Quebec based Skyrenu. Subsequent DAC units will be installed this fall and winter.

Deep Sky Alpha’s strategic location in Innisfail, Alberta provides access to renewable power and proximity to permanent geological storage. The facility, entirely powered by solar energy, will capture 3,000 tonnes of CO₂ annually. The project has generated more than 110 construction jobs and will employ approximately 15 full-time operators. Monitoring of Alpha’s capture and sequestration progress will be conducted on an ongoing basis using proprietary software and be available on Deep Sky’s website.

Deep Sky Alpha represents the first step in a worldwide carbon removal effort being developed by Deep Sky, with large-scale projects already underway across Alberta, Quebec, and beyond. The milestone builds on Deep Sky’s recent $40 million grant from Breakthrough Energy Catalyst and carbon removal credit purchase agreements with buyers including Microsoft and Royal Bank of Canada.

Deep Sky helps enterprises meet their decarbonization commitments through high integrity carbon removal credits used to offset company emissions. While credits for Deep Sky Alpha are already pre-sold, buyers interested in reserving credits from subsequent commercial projects can reach out to sales@deepskyclimate.com

About Deep Sky
Montreal-based Deep Sky is the world’s first tech-agnostic carbon removal project developer aiming to remove gigatons of carbon from the atmosphere and permanently store it underground. As a project developer, Deep Sky brings together the most promising direct air and ocean carbon capture companies under one roof to bring the largest supply of high quality carbon credits to the market, commercializing and catalyzing carbon removal and storage solutions like never before. With $130M in funding, Deep Sky is backed by world class investors including Investissement Québec, Brightspark Ventures, Whitecap Venture Partners, OMERS Ventures, BDC Climate Fund, Breakthrough Energy Catalyst, BMO, National Bank of Canada, and more. For more information, visit deepskyclimate.com.

Video – https://mma.prnasia.com/media2/2754438/Deep_Sky_Alpha_August_2025.mp4

 

JCET Releases 2025 Interim Report: Accelerates Investment in Advanced Packaging, Achieves Record-High Revenue in Q2 and H1

SHANGHAI, Aug. 20, 2025 /PRNewswire/ — JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, today announced its financial results for the first half of 2025. According to its interim report, the company achieved revenue of RMB 18.61 billion for H1 2025, up 20.1% year-on-year. Q2 2025 revenue reached RMB 9.27 billion, up 7.2% year-on-year. Both figures represent record highs for the respective periods. Net profit attributable to owners of the parent for the first half of 2025 was RMB 470 million, with the second quarter contributing RMB 270 million.

During the reporting period, JCET saw a significant increase in overall capacity utilization compared to the same period last year. The company further optimized its global manufacturing footprint and supply chain systems, while continuing to improve its lean production capabilities and quality management standards. Strong inventory control ensured high operational efficiency, contributing to solid operating net cash flow.

Leveraging emerging market opportunities in edge intelligence, autonomous driving, and high-density storage, JCET achieved year-on-year revenue increases of 72.1%, 38.6%, and 34.2% in computing electronics, industrial and medical electronics, and automotive electronics, respectively. These results reflect the company’s strategic foresight and its steady realization of value from forward-looking initiatives. In the first half of 2025, JCET significantly increased its investment in advanced packaging technologies and production capacity. While this exerted short-term pressure on net profit, it aligns with the company’s long-term strategy of driving innovation through application-centric development to meet evolving market demands.

The company also intensified R&D efforts in key areas such as advanced packaging technology upgrades and mainstream package advancements. Total R&D expenditure reached RMB 990 million, marking a 20.5% increase year-on-year.

The automotive back-end manufacturing base of JCET Shanghai Automotive Co., Ltd. has completed construction and is scheduled to begin operations in the second half of this year. In addition, the company established a wholly-owned subsidiary, JCET (Jiangyin) Co., Ltd., to focus on System-in-Package (SiP) technologies and intelligent manufacturing. Since its commissioning last year, JCET Microelectronics (Jiangyin) Co., Ltd. has steadily ramped up production, providing customers with turnkey microsystem integration solutions. JCET will continue to accelerate breakthroughs and applications in next-generation advanced packaging technologies.

Mr. Li Zheng, CEO of JCET Group, said, “With a steady and progressive approach to sustainable development, JCET has delivered outstanding performance in the first half of 2025, achieving record revenue across both quarters. In the face of intertwined opportunities and challenges, we remain committed to optimizing our strategic positioning and building a solid foundation for long-term, high-quality growth.”

For more information, please refer to the JCET Q2 2025 Report

About JCET Group

JCET Group is the world’s leading integrated circuit back-end manufacturing and technology services provider. We offer a full range of turnkey solutions, including semiconductor package integration design and characterization, R&D, wafer probing, bumping, package assembly, final testing, and drop shipment to vendors worldwide.

Our comprehensive portfolio spans a broad range of semiconductor applications—including mobile, communications, computing, consumer, automotive, and industrial—delivered through advanced wafer-level packaging, 2.5D/3D packaging, System-in-Package solutions, and reliable flip chip and wire bonding technologies.

JCET Group has two R&D centers in China and Korea; eight manufacturing sites across China, Korea, and Singapore; and sales centers around the world, enabling close technology collaboration and efficient supply chain manufacturing for our global customers.

JCET Releases 2025 Interim Report: Accelerates Investment in Advanced Packaging, Achieves Record-High Revenue in Q2 and H1

SHANGHAI, Aug. 20, 2025 /PRNewswire/ — JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, today announced its financial results for the first half of 2025. According to its interim report, the company achieved revenue of RMB 18.61 billion for H1 2025, up 20.1% year-on-year. Q2 2025 revenue reached RMB 9.27 billion, up 7.2% year-on-year. Both figures represent record highs for the respective periods. Net profit attributable to owners of the parent for the first half of 2025 was RMB 470 million, with the second quarter contributing RMB 270 million.

During the reporting period, JCET saw a significant increase in overall capacity utilization compared to the same period last year. The company further optimized its global manufacturing footprint and supply chain systems, while continuing to improve its lean production capabilities and quality management standards. Strong inventory control ensured high operational efficiency, contributing to solid operating net cash flow.

Leveraging emerging market opportunities in edge intelligence, autonomous driving, and high-density storage, JCET achieved year-on-year revenue increases of 72.1%, 38.6%, and 34.2% in computing electronics, industrial and medical electronics, and automotive electronics, respectively. These results reflect the company’s strategic foresight and its steady realization of value from forward-looking initiatives. In the first half of 2025, JCET significantly increased its investment in advanced packaging technologies and production capacity. While this exerted short-term pressure on net profit, it aligns with the company’s long-term strategy of driving innovation through application-centric development to meet evolving market demands.

The company also intensified R&D efforts in key areas such as advanced packaging technology upgrades and mainstream package advancements. Total R&D expenditure reached RMB 990 million, marking a 20.5% increase year-on-year.

The automotive back-end manufacturing base of JCET Shanghai Automotive Co., Ltd. has completed construction and is scheduled to begin operations in the second half of this year. In addition, the company established a wholly-owned subsidiary, JCET (Jiangyin) Co., Ltd., to focus on System-in-Package (SiP) technologies and intelligent manufacturing. Since its commissioning last year, JCET Microelectronics (Jiangyin) Co., Ltd. has steadily ramped up production, providing customers with turnkey microsystem integration solutions. JCET will continue to accelerate breakthroughs and applications in next-generation advanced packaging technologies.

Mr. Li Zheng, CEO of JCET Group, said, “With a steady and progressive approach to sustainable development, JCET has delivered outstanding performance in the first half of 2025, achieving record revenue across both quarters. In the face of intertwined opportunities and challenges, we remain committed to optimizing our strategic positioning and building a solid foundation for long-term, high-quality growth.”

For more information, please refer to the JCET Q2 2025 Report


About JCET Group

JCET Group is the world’s leading integrated circuit back-end manufacturing and technology services provider. We offer a full range of turnkey solutions, including semiconductor package integration design and characterization, R&D, wafer probing, bumping, package assembly, final testing, and drop shipment to vendors worldwide.

Our comprehensive portfolio spans a broad range of semiconductor applications—including mobile, communications, computing, consumer, automotive, and industrial—delivered through advanced wafer-level packaging, 2.5D/3D packaging, System-in-Package solutions, and reliable flip chip and wire bonding technologies.

JCET Group has two R&D centers in China and Korea; eight manufacturing sites across China, Korea, and Singapore; and sales centers around the world, enabling close technology collaboration and efficient supply chain manufacturing for our global customers.

AUTOCRYPT Designated as Official AWS Software Partner

Autocrypt obtains AWS Foundational Technical Review (FTR) validation for automotive software testing tool, enabling expanded deployment in cloud environments 

SEOUL, South Korea, Aug. 20, 2025 /PRNewswire/ — AUTOCRYPT, a leading automotive cybersecurity solutions provider, announced that the company’s automotive software testing tool, AutoCrypt CSTP Fuzzer, successfully received the Amazon Web Services (AWS) Foundational Technical Review (FTR) validation, enabling the solution to earn Partner Software Path Certification. The FTR is a rigorous technical assessment conducted by AWS to ensure that solutions meet best practices in areas such as security, reliability, and operational compliance. This achievement lays the groundwork for offering the solution in a cloud-based Software as a Service (SaaS) format.

The AutoCrypt CSTP Fuzzer solution is a key component of the AUTOCRYPT’s Cybersecurity Testing Platform (CSTP), a security diagnostic tool that leverages fuzzing techniques to automatically detect and analyze potential vulnerabilities around vehicle communications. By passing the AWS FTR validation process, the solution has demonstrated compliance with AWS standards for Security, Reliability and Operational Excellence.

Strengthening Global Presence with AWS Integration 
Through listing the solution on the AWS Marketplace, AUTOCRYPT anticipates expanded opportunities to serve international markets by making it easier for customers to access its authorized software solutions. With the solution accessible through virtual Windows environments based on Amazon WorkSpaces, a fully managed desktop computing service, users can perform security testing and proof-of-concept (PoC) activities in a SaaS environment without complex installation or hardware setup.

Cybersecurity Mandates Fuel Demand for SaaS solutions
With automotive cybersecurity regulations set to become mandatory by 2028 for most vehicles sold globally — and the Cyber Resilience Act (CRA) extending security requirements across all digitally connected industries — demand for cloud-based SaaS solutions have emerged as a strategic choice for stakeholders seeking to balance development efficiency and regulatory compliance.

In response to these shifts, AUTOCRYPT is pursuing broader cloud-based deployment of its automotive cybersecurity solutions, starting with the launch of AWS-certified SaaS products. This supports the company’s long-term strategy to scale its SaaS business model, diversify revenue streams, and accelerate international growth.

Founder and CEO, Seokwoo Lee said, “This marks a significant milestone for Autocrypt as it validates the reliability of our technology within the cloud ecosystem. With the global SaaS market projected to reach USD 370 billion, and the automotive software market estimated at USD 600 trillion by 2030, we are committed to reinforcing our global footprint by positioning cloud-based security solutions as a key pillar of future growth.”

Learn more at autocrypt.io

About Autocrypt

AUTOCRYPT is the leading player in automotive cybersecurity technologies. It specializes in the development and integration of security software and solutions for in-vehicle systems, V2X communications, Plug&Charge, and fleet management, paving the way towards a secure and reliable C-ITS ecosystem in the age of software-defined vehicles. Its comprehensive suite of automotive cybersecurity testing services and platforms includes the award-winning AutoCrypt CSTP, which supports automotive OEMs and suppliers in meeting regulatory standards ilke ISO/SAE 21434, UNECE WP.29 UN R155, and CRA.

Kingsoft Cloud Announces Unaudited Second Quarter 2025 Financial Results

BEIJING, Aug. 20, 2025 /PRNewswire/ — Kingsoft Cloud Holdings Limited (“Kingsoft Cloud” or the “Company”) (NASDAQ: KC and HKEX: 3896), a leading cloud service provider in China, today announced its unaudited financial results for the second quarter ended June 30, 2025.

Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, “We resume our growth momentum this quarter, with total revenue increased by 24.2% year-over-year to achieve RMB2,349.2 million. AI is still a dominant driver for our revenue growth and this quarter our gross billing of AI business increased by over 120% year-over-year to RMB728.7 million, accounting for 44.8% of our public cloud services. As AI technology enabler, we provide turnkey solutions to customers from computing resources, PaaS platforms to applications. Meanwhile, we have maintained our healthy cooperation with Xiaomi – Kingsoft Ecosystem, evidenced by a 69.5% year-over-year revenue growth to reach RMB628.9 million from ecosystem customers this quarter and reach RMB1,125.0 million in the first half, representing a 40% completion of the continued connected transaction cap amount in the first half of 2025. We reaffirmed our confidence and fully commitment into our AI related investment and high-quality and sustainable business development.”

Ms. Yi Li, Chief Financial Officer of Kingsoft Cloud, added, “Our revenue increased by 24.2% year-over-year, achieving RMB2,349.2 million for the second quarter. Among this, our revenue from public cloud services increased significantly by 31.7% year-over-year to RMB1,625.3 million. Our adjusted gross profit was RMB350.6 million, which increased by 8.4% year-over-year and 7.0% quarter-over-quarter. Adjusted gross margin was 14.9% in this quarter, compared with 17.1% in the second quarter 2024 and 16.6% in the first quarter this year. The decrease was primarily due to the higher cost of servers along with the expansion of our AI business, and the upfront costs incurred for certain customers for its future revenue activity. Our adjusted EBITDA profit achieved RMB406.0 million, increased by 570.1% year-over-year. Our adjusted EBITDA margin of 17.3%, increased by 14.1 percentage points, demonstrating our optimized revenue structure and a strong costs and expenses control.

Second Quarter 2025 Financial Results

Total Revenues reached RMB2,349.2 million (US$327.91 million), increased by 24.2% year-over-year from RMB1,891.8 million in the same quarter of 2024 and increased by 19.3% quarter-over-quarter from RMB1,970.0 million in the first quarter of 2025. The increase was mainly due to the expanded revenue from AI related customers, with AI infrastructure and products keep upgrading.

Revenues from public cloud services were RMB1,625.3 million (US$226.9 million), increased by 31.7% from RMB1,234.5 million in the same quarter of 2024 and increased by 20.1% from RMB1,353.5 million last quarter. The year-over-year increase was mainly due to the growth of AI demands, as the AI gross billing reached RMB728.7 million (US$101.7 million), and partially offset by our proactive decrease of CDN services.

Revenues from enterprise cloud services were RMB723.9 million (US$101.0 million), representing an increase of 10.1% from RMB657.2 million in the same quarter of 2024 and an increase of 17.4% from RMB616.5 million last quarter. The increase was mainly due to the expanding demands for software IT services of our customers and the accelerated completion of project delivery in this quarter.

Other revenues were nil this quarter.

Cost of revenues was RMB2,010.4 million (US$280.6 million), representing an increase of 27.8% from RMB1,573.4 million in the same quarter of 2024, which was mainly due to our investment into AI computing resources. IDC costs increased by 10.3% year-over-year from RMB728.2 million to RMB803.1 million (US$112.1 million) this quarter. It was mainly due to the increasing demands for infrastructure, which was in line with our AI business expansion, as well as the basic computing and storage cloud demands brought by AI business. Depreciation and amortization costs increased from RMB265.9 million in the same quarter of 2024 to RMB552.0 million (US$77.1 million) this quarter. The increase was mainly due to the depreciation of newly acquired and leased servers which were allocated to AI business. Solution development and services costs increased by 14.8% year-over-year from RMB491.1 million in the same quarter of 2024 to RMB563.7 million (US$78.7 million) this quarter. The increase was mainly due to the solution personnel expansion of solution architecture and delivery. Fulfillment costs and other costs were RMB25.8 million (US$3.6 million) and RMB65.8 million (US$9.1 million) this quarter.

Gross profit was RMB338.9 million (US$47.3 million), representing an increase of 6.4% from RMB318.3 million in the same quarter of 2024. The increase was mainly due to the expansion of our higher margin profile AI business. Gross margin was 14.4%, compared with 16.8% in the same period in 2024. The decrease was mainly due to the higher cost of servers along with the expansion of AI business, as well as the upfront costs incurred for certain customer for its future revenue activity. Non-GAAP gross profit2 was RMB350.6 million (US$48.9 million), compared with RMB323.4 million in the same period in 2024. Non-GAAP gross margin2 was 14.9%, compared with 17.1% in the same period in 2024.

Total operating expenses were RMB665.9 million (US$92.9 million), increased by 11.7% from RMB595.9 million in the same quarter last year and increased by 20.5% from RMB552.5 million last quarter. Among which:

Selling and marketing expenses were RMB132.0 million (US$18.4 million), increased by 5.0% from RMB125.7 million in the same period in 2024 and decreased by 8.6% from RMB144.3 million last quarter. The year-over-year increase was mainly due to the increase of share-based compensation, while the sequential decrease was mainly due to one-time sales bonus incurred in the first quarter.

General and administrative expenses were RMB339.6 million (US$47.4 million), increased by 27.5% from RMB266.2 million in the same period in 2024 and 86.6% from RMB182.0 million last quarter. The year-over-year increase was mainly due to the increase in share-based compensation and personnel cost and the sequential increase was mainly due to the increase in personal cost and increase in credit loss expenses resulting from the prepayment made to suppliers related to the procurement of certain servers.

Research and development expenses were RMB194.3 million (US$27.1 million), decreased by 4.7% from RMB204.0 million in the same period in 2024 and decreased by 14.1% from RMB226.2 million last quarter. The year-over-year decrease was mainly due to the personnel decrease resulting from our strategic structure adjustment and the sequential decrease was mainly resulted from decrease in share-based compensation.

Operating loss was RMB327.0 million (US$45.6 million), compared with operating loss of RMB277.6 million in the same quarter of 2024 and RMB234.2 million last quarter. It was mainly due to the increase of credit loss. Non-GAAP operating loss3was RMB166.4 million (US$23.2 million), compared with operating loss of RMB188.5 million in the same quarter last year and operating loss of RMB55.8 million last quarter. 

Net loss was RMB456.9 million (US$63.8 million), compared with net loss of RMB353.7 million in the same quarter of 2024 and RMB316.1 million last quarter. The increase was mainly due to the increase of credit loss expenses and the increase of interest expense, which was resulting by the loan and financial lease we used to acquire servers. Non-GAAP net loss4 was RMB300.5 million (US$41.9 million), compared with RMB301.1 million in the same quarter of 2024 and RMB190.6 million last quarter. The fluctuation was mainly due to the increase of credit loss expenses.

Non-GAAP EBITDA5 was RMB406.0 million (US$56.7 million), increased by 570.1% from RMB60.6 million in the same quarter of 2024 and 27.5% from RMB318.5 million last quarter. Non-GAAP EBITDA margin was 17.3%, compared with 3.2% in the same quarter of 2024 and 16.2% in the previous quarter. The increase was mainly due to the expansion of AI business with higher margin.

Basic and diluted net loss per share was RMB0.11 (US$0.02), compared with RMB0.10 in the same quarter of 2024 and RMB0.08 last quarter.

Cash and cash equivalents were RMB5,464.1 million (US$762.8 million) as of June 30, 2025, compared with RMB2,322.7 million as of March 31, 2025. The significant increase was mainly due to the public equity offering and concurrent private placement to Kingsoft Corporation and the prepayment we received from strategic customer.

Outstanding ordinary shares were 4,099,278,352 as of June 30, 2025, equivalent to about 273,285,223 ADSs.

[1] This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.

[2] Non-GAAP gross profit is defined as gross profit excluding share-based compensation allocated in the cost of revenues and we define Non-GAAP gross margin as Non-GAAP gross profit as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

[3] Non-GAAP operating loss is defined as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating loss margin as Non-GAAP operating loss as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

[4] Non-GAAP net loss is defined as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

[5] Non-GAAP EBITDA is defined as Non-GAAP net loss excluding interest income, interest expense, income tax expense (benefit) and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

Conference Call Information

Kingsoft Cloud’s management will host an earnings conference call on Wednesday, August 20, 2025 at 8:15 am, U.S. Eastern Time (8:15 pm, Beijing/Hong Kong Time on the same day).

Participants can register for the conference call by navigating to https://register-conf.media-server.com/register/BIe934f7691a6341caa913f477d4d12cd7. Once preregistration has been completed, participants will receive dial-in numbers, direct event passcode, and a unique access PIN.

To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your PIN, and you will join the conference instantly.

Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.ksyun.com

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In evaluating our business, we consider and use certain non-GAAP measures, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operating loss, Non-GAAP operating loss margin, Non-GAAP EBITDA, Non-GAAP EBITDA margin, Non-GAAP net loss and Non-GAAP net loss margin, as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define Non-GAAP gross profit as gross profit excluding share-based compensation allocated in the cost of revenues, and we define Non-GAAP gross margin as Non-GAAP gross profit as a percentage of revenues. We define Non-GAAP operating loss as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating loss margin as Non-GAAP operating loss as a percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. We define Non-GAAP EBITDA as Non-GAAP net loss excluding interest income, interest expense, income tax expense (benefit) and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of these non-GAAP measures facilitates investors’ assessment of our operating performance.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

We compensate for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

Exchange Rate Information

This press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from RMB to U.S. dollars, in this press release, were made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the ” safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the Business Outlook, and quotations from management in this announcement, as well as Kingsoft Cloud’s strategic and operational plans, contain forward-looking statements. Kingsoft Cloud may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Kingsoft Cloud’s goals and strategies; Kingsoft Cloud’s future business development, results of operations and financial condition; relevant government policies and regulations relating to Kingsoft Cloud ‘s business and industry; the expected growth of the cloud service market in China; the expectation regarding the rate at which to gain customers, especially Premium Customers; Kingsoft Cloud’s ability to monetize the customer base; fluctuations in general economic and business conditions in China; and the economy in China and elsewhere generally; China’s political or social conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Kingsoft Cloud’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Kingsoft Cloud does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Kingsoft Cloud Holdings Limited

Kingsoft Cloud Holdings Limited (NASDAQ: KC and HKEX:3896) is a leading cloud service provider in China. With extensive cloud infrastructure, cutting-edge cloud-native products based on vigorous cloud technology research and development capabilities, well-architected industry-specific solutions and end-to-end fulfillment and deployment, Kingsoft Cloud offers comprehensive, reliable and trusted cloud service to customers in strategically selected verticals.

For more information, please visit: http://ir.ksyun.com.

For investor and media inquiries, please contact:

Kingsoft Cloud Holdings Limited
Nicole Shan
Tel: +86 (10) 6292-7777 Ext. 6300
Email: ksc-ir@kingsoft.com 

 

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands)

Dec 31,
2024

Jun 30,
2025

Jun 30,
2025

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

2,648,764

5,464,077

762,756

Restricted cash

81,337

53,051

7,406

Accounts receivable, net

1,468,663

2,018,350

281,751

Short-term investments

90,422

Prepayments and other assets

2,233,074

2,263,242

315,936

Amounts due from related parties

318,526

587,321

81,987

Total current assets

6,840,786

10,386,041

1,449,836

Non-current assets:

Property and equipment, net

4,630,052

8,251,958

1,151,929

Intangible assets, net

694,880

618,269

86,307

Goodwill

4,605,724

4,605,724

642,934

Prepayments and other assets

449,983

616,779

86,100

Equity investments

234,182

231,586

32,328

Operating lease right-of-use assets

137,047

119,350

16,661

Total non-current assets

10,751,868

14,443,666

2,016,259

Total assets

17,592,654

24,829,707

3,466,095

LIABILITIES, NON-CONTROLLING
INTERESTS AND SHAREHOLDERS’ 
EQUITY

Current liabilities:

Accounts payable

1,877,004

2,195,478

306,477

Accrued expenses and other current liabilities

3,341,990

3,966,154

553,653

Short-term borrowings

2,225,765

3,129,151

436,813

Income tax payable

69,219

82,331

11,493

Amounts due to related parties

1,584,199

1,407,804

196,522

Current operating lease liabilities

61,258

35,638

4,975

Total current liabilities

9,159,435

10,816,556

1,509,933

Non-current liabilities:

Long-term borrowings

1,660,584

2,396,554

334,546

Amounts due to related parties 

309,612

1,308,158

182,612

Deferred tax liabilities

101,677

81,283

11,347

Other liabilities

790,271

3,103,021

433,165

Non-current operating lease liabilities 

65,755

64,549

9,011

Total non-current liabilities

2,927,899

6,953,565

970,681

Total liabilities

12,087,334

17,770,121

2,480,614

Shareholders’ equity:

Ordinary shares

25,689

28,483

3,976

Treasury shares

(105,478)

(79,316)

(11,072)

Additional paid-in capital

18,940,885

21,188,250

2,957,766

Statutory reserves funds

32,001

32,001

4,467

Accumulated deficit

(14,291,957)

(15,063,348)

(2,102,762)

Accumulated other comprehensive income

566,900

617,830

86,246

Total Kingsoft Cloud Holdings Limited
shareholders’ equity

5,168,040

6,723,900

938,621

Non-controlling interests

337,280

335,686

46,860

Total equity

5,505,320

7,059,586

985,481

Total liabilities, non-controlling interests
and shareholders’ equity

17,592,654

24,829,707

3,466,095

 

KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(All amounts in thousands, except for share and per share data)

Three Months Ended

Six Months Ended

Jun 30,
2024

Mar 31,
2025

Jun 30,
2025

Jun 30,
2025

Jun 30,
2024

Jun 30,
2025

Jun 30,
2025

RMB

RMB

RMB

US$

RMB

RMB

US$

Revenues:

Public cloud services

1,234,542

1,353,479

1,625,309

226,884

2,421,912

2,978,788

415,823

Enterprise cloud services

657,238

616,498

723,918

101,055

1,245,400

1,340,416

187,115

Others

152

Total revenues

1,891,780

1,969,977

2,349,227

327,939

3,667,464

4,319,204

602,938

Cost of revenues

(1,573,433)

(1,651,671)

(2,010,370)

(280,637)

(3,055,864)

(3,662,041)

(511,201)

Gross profit  

318,347

318,306

338,857

47,302

611,600

657,163

91,737

Operating expenses:

Selling and marketing expenses

(125,708)

(144,338)

(131,996)

(18,426)

(242,460)

(276,334)

(38,575)

General and administrative expenses

(266,249)

(181,999)

(339,563)

(47,401)

(484,944)

(521,562)

(72,807)

Research and development expenses

(203,959)

(226,170)

(194,285)

(27,121)

(435,922)

(420,455)

(58,693)

Total operating expenses

(595,916)

(552,507)

(665,844)

(92,948)

(1,163,326)

(1,218,351)

(170,075)

Operating loss

(277,569)

(234,201)

(326,987)

(45,646)

(551,726)

(561,188)

(78,338)

Interest income

9,945

4,946

11,520

1,608

18,315

16,466

2,299

Interest expense

(59,414)

(82,897)

(124,669)

(17,403)

(110,480)

(207,566)

(28,975)

Foreign exchange (loss) gain 

(6,999)

9,051

(39,526)

(5,518)

(49,736)

(30,475)

(4,254)

Other (loss) gain, net

(7,829)

3,244

1,620

226

(16,036)

4,864

679

Other (expense) income, net

(4,961)

(7,012)

23,522

3,284

(16,151)

16,510

2,305

Loss before income taxes

(346,827)

(306,869)

(454,520)

(63,449)

(725,814)

(761,389)

(106,284)

Income tax (expense) benefit

(6,891)

(9,241)

(2,343)

(327)

8,480

(11,584)

(1,617)

Net loss

(353,718)

(316,110)

(456,863)

(63,776)

(717,334)

(772,973)

(107,901)

Less: net (loss) profit attributable to
non-controlling interests

(542)

(2,184)

602

84

(4,748)

(1,582)

(221)

Net loss attributable to Kingsoft
Cloud Holdings Limited

(353,176)

(313,926)

(457,465)

(63,860)

(712,586)

(771,391)

(107,680)

Net loss per share:

Basic and diluted

(0.10)

(0.08)

(0.11)

(0.02)

(0.20)

(0.20)

(0.03)

Shares used in the net loss per
share computation:

Basic and diluted

3,649,307,331

3,728,092,123

4,009,119,198

4,009,119,198

3,632,583,338

3,869,381,978

3,869,381,978

Other comprehensive (loss) income,
net of tax of nil:

Foreign currency translation
adjustments

(530)

7,744

43,174

6,027

20,174

50,918

7,108

Comprehensive loss

(354,248)

(308,366)

(413,689)

(57,749)

(697,160)

(722,055)

(100,793)

Less: Comprehensive (loss) income
attributable to non-controlling
interests

(570)

(2,200)

606

85

(4,817)

(1,594)

(223)

Comprehensive loss attributable to
Kingsoft Cloud Holdings Limited
shareholders

(353,678)

(306,166)

(414,295)

(57,834)

(692,343)

(720,461)

(100,570)

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Six Months Ended

Jun 30,
2024

Mar 31,
2025

Jun 30,
2025

Jun 30,
2025

Jun 30,
2024

Jun 30,
2025

Jun 30,
2025

RMB

RMB

RMB

US$

RMB

RMB

US$

Gross profit

318,347

318,306

338,857

47,302

611,600

657,163

91,737

Adjustments:

– Share-based compensation expenses (allocated in cost of
revenues)

5,076

9,365

11,712

1,635

10,890

21,077

2,942

Adjusted gross profit (Non-GAAP Financial Measure)

323,423

327,671

350,569

48,937

622,490

678,240

94,679

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Six Months Ended

Jun 30,
2024

Mar 31,
2025

Jun 30,
2025

Jun 30,
2024

Jun 30,
2025

Gross margin

16.8 %

16.2 %

14.4 %

16.7 %

15.2 %

Adjusted gross margin (Non-GAAP Financial Measure)

17.1 %

16.6 %

14.9 %

17.0 %

15.7 %

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Six Months Ended

Jun 30,
2024

Mar 31,
2025

Jun 30,
2025

Jun 30,
2025

Jun 30,
2024

Jun 30,
2025

Jun 30,
2025

RMB

RMB

RMB

US$

RMB

RMB

US$

Net Loss

(353,718)

(316,110)

(456,863)

(63,776)

(717,334)

(772,973)

(107,901)

Adjustments:

– Share-based compensation expenses

45,649

134,611

116,856

16,312

149,244

251,467

35,103

– Foreign exchange loss (gain)

6,999

(9,051)

39,526

5,518

49,736

30,475

4,254

Adjusted net loss (Non-GAAP Financial Measure)

(301,070)

(190,550)

(300,481)

(41,946)

(518,354)

(491,031)

(68,544)

Adjustments:

– Interest income

(9,945)

(4,946)

(11,520)

(1,608)

(18,315)

(16,466)

(2,299)

– Interest expense

59,414

82,897

124,669

17,403

110,480

207,566

28,975

– Income tax expense (benefit)

6,891

9,241

2,343

327

(8,480)

11,584

1,617

– Depreciation and amortization

305,304

421,901

591,021

82,503

528,450

1,012,922

141,398

Adjusted EBITDA (Non-GAAP Financial Measure)

60,594

318,543

406,032

56,679

93,781

724,575

101,147

– Gain on disposal of property and equipment

(2,110)

(5,708)

(797)

(23,821)

(7,818)

(1,091)

Excluding gain on disposal of property and equipment,
normalized Adjusted EBITDA

60,594

316,433

400,324

55,882

69,960

716,757

100,056

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Six Months Ended

Jun 30,
2024

Mar 31,
2025

Jun 30,
2025

Jun 30,
2025

Jun 30,
2024

Jun 30,
2025

Jun 30,
2025

RMB

RMB

RMB

US$

RMB

RMB

US$

Operating loss

(277,569)

(234,201)

(326,987)

(45,646)

(551,726)

(561,188)

(78,338)

Adjustments:

– Share-based compensation expenses 

45,649

134,611

116,856

16,312

149,244

251,467

35,103

– Amortization of intangible assets

43,415

43,781

43,751

6,107

86,932

87,532

12,219

Adjusted operating loss (Non-GAAP Financial
Measure)

(188,505)

(55,809)

(166,380)

(23,227)

(315,550)

(222,189)

(31,016)

– Gain on disposal of property and equipment

(2,110)

(5,708)

(797)

(23,821)

(7,818)

(1,091)

Excluding gain on disposal of property and equipment,
normalized Adjusted operating loss

(188,505)

(57,919)

(172,088)

(24,024)

(339,371)

(230,007)

(32,107)

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Six Months Ended

Jun 30,
2024

Mar 31,
2025

Jun 30,
2025

Jun 30,
2024

Jun 30,
2025

Net loss margin

-18.7 %

-16.0 %

-19.4 %

-19.6 %

-17.9 %

Adjusted net loss margin (Non-GAAP Financial Measure)

-15.9 %

-9.7 %

-12.8 %

-14.1 %

-11.4 %

Adjusted EBITDA margin (Non-GAAP Financial Measure)

3.2 %

16.2 %

17.3 %

2.6 %

16.8 %

Normalized Adjusted EBITDA margin

3.2 %

16.1 %

17.0 %

1.9 %

16.6 %

Adjusted operating loss margin (Non-GAAP Financial
Measure)

-10.0 %

-2.8 %

-7.1 %

-8.6 %

-5.1 %

Normalized Adjusted operating loss margin

-10.0 %

-2.9 %

-7.3 %

-9.3 %

-5.3 %

 

KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(All amounts in thousands)

Three Months Ended

Jun 30,
2024

Mar 31,
2025

Jun 30,
2025

Jun 30,
2025

RMB

RMB

RMB

US$

Net cash generated from (used in) operating 
activities

151,169

(418,390)

1,460,134

203,827

Net cash used in investing activities

(654,829)

(490,393)

(887,832)

(123,937)

Net cash generated from financing activities

523,950

549,998

2,552,561

356,324

Effect of exchange rate changes on cash, cash
equivalents and restricted cash

(14,646)

15,028

5,921

827

Net increase (decrease) in cash, cash equivalents
and restricted cash

5,644

(343,757)

3,130,784

437,041

Cash, cash equivalents and restricted cash at
beginning of period

2,090,760

2,730,101

2,386,344

333,121

Cash, cash equivalents and restricted cash at end
of period

2,096,404

2,386,344

5,517,128

770,162