Beijing Kingsoft Office Software (688111) Q1 2026 earnings summary

Executive summary

• Achieved revenue of RMB 1.61 billion in Q1 2026, up 23.95% year-over-year.

• Net profit attributable to shareholders surged 444.97% year-over-year to RMB 2.20 billion, driven by significant investment gains.

• Adjusted net profit (excluding share-based payments and investment gains) was RMB 580 million, up 32.17% year-over-year.

• Continued strategic focus on AI, collaboration, and internationalization, with robust growth in core business lines.

Financial highlights

• Operating cash flow increased 69.60% year-over-year to RMB 59.73 million.

• Total assets rose to RMB 20.22 billion, up 11.35% from year-end 2025.

• Shareholders’ equity reached RMB 15.13 billion, up 17.71% from year-end 2025.

• R&D investment totaled RMB 571.54 million, up 21.55% year-over-year, representing 35.43% of revenue.

Segment performance

• WPS personal business revenue was RMB 975 million, up 13.80% year-over-year, with global monthly active devices at 672 million.

• WPS 365 revenue reached RMB 244 million, up 60.79% year-over-year, driven by AI and collaboration product upgrades.

• WPS software business revenue was RMB 347 million, up 32.24% year-over-year, supported by strong demand from government and enterprise clients.