Business, Security, Software

Kingsoft Net Profit Up 11.8% In Q2 2012

Chinese software provider Kingsoft's performance report for the second quarter of 2012 shows that its operating revenue reached CNY320 million, a year-on-year increase of 23%; and its net profit was CNY120 million, a year-on-year increase of 11.8%.

According to the report, Kingsoft's entertainment software sector business contributed 65% of the total operating revenue while its application software sector contributed 35%. For details, the operating revenue from entertainment software was CNY209 million, a year-on-year increase of 21% and an increase of 9% compared with the first quarter of 2012. The operating revenue from application software was CNY112 million, a year-on-year increase of 25% and an increase of 23% compared with the first quarter of 2012.

For the first half of 2012, Kingsoft gained operating revenue of CNY615 million, an increase of 24% compared with the same period of 2011. Of that total, CNY400 million was from entertainment software, a year-on-year increase of 19%; while CNY200 million was from application software, a year-on-year increase of 28%. At the same time, its net profit was CNY210 million, an increase of 20% compared with the same period of 2011.

Zhang Hongjiang, chief executive officer of Kingsoft Group, said King's operating revenue and profit both saw strong growth during the second quarter of 2012. Its major business lines showed stable and healthy growth status. It proved Kingsoft's success in its strategic transmission to an Internet-oriented company and they are confident in the future development of the company.

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