Chinese software provider Kingsoft has confirmed that the company is seeking to change its name.

The new name will most likely add the word "group" to end of its moniker. When this happens, Kingsoft will separate its online game and software sectors, which will be operated by different companies that are part of the new Kingsoft Group. In the future, these companies may be listed independently.

Kingsoft has not set a definite date for when the name change will take place. According to the financial reports released by Kingsoft, its online game sector contributes about 70% to its total revenue while that of the software sector is only 30%. Therefore, there have been rumors that Kingsoft is planning to remove the unprofitable software business from its listed company. However, prior to this, Kingsoft never confirmed the rumor.

Xu Xiaohui, a representative from Kingsoft's marketing department, recently said that the company's management has decided to separate its businesses. For details, he says Kingsoft will set up different subsidiaries to form a company group. As for whether the software business will be listed independently or not, he says the information is currently unavailable.

Qiu Bojun, chairman of Kingsoft, says that the separation of businesses is the inevitable choice when a company develops to a certain scale.


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