BRIEF: Kingsoft Office’s first-quarter profit climbs 10%

3888.HK 688111.SHG

Kingsoft Corp. Ltd. (3888.HK) said on Wednesday that its Beijing Kingsoft Office Software Inc. (688111.SH) subsidiary’s revenue rose 6.2% year-on-year to 1.3 billion yuan ($1.78 million) in the first quarter, while its profit rose 9.8% to 400 million yuan. But it added that Kingsoft Office’s operating cash flow plunged 77% year-over-year to 35.22 million yuan.

Kingsoft’s core operations span two segments: Its office software and productivity tools business operated by Kingsoft Office; and its gaming division that develops and distributes PC and mobile games.

Shares of Kingsoft opened flat in Hong Kong at HK$38.10 on Thursday. The shares are up 50% over the past year.

By Lau Chi Hang

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