Kingsoft recently published its financial report for the fourth quarter and the entire year of 2018.
According to the report, Kingsoft's operating revenue in 2018 reached CNY5.906 billion, a year-on-year increase of 14%. Of the total revenue, Kingsoft Cloud contributed CNY2.218 billion, a year-on-year increase of 66%. Meanwhile, during the fourth quarter of 2018, Kingsoft Cloud's operating revenue increased by 81% year-on-year to CNY727 million, accounting for 41% of the total operating revenue of Kingsoft.
Wang Yulin, chief executive officer of Kingsoft Cloud, said that China's various industries are seeking digital, information, and intelligent upgrade to gain stronger competitiveness. In 2017, Kingsoft Cloud already established its strategy to fully develop the enterprise market. The company promoted fusion innovation of cloud, AI, big data, Blockchain, and edge computing technologies and realized applications of many new technologies.
Prior to this, Kingsoft Cloud released its hybrid cloud solution 2.0 and launched a dedicated cloud service to realize capability output of public cloud and local privatization deployment.
So far, the company has reached strategic cooperation agreements with Xuzhou City government, Rizhao City government, and Xichuan County government as well as full cooperation with Ansteel.