Performance | Kingsoft Cloud's Full-Year Loss Narrows to 933 Million RMB, Lei Jun Resigns as Chairman

SighingCashier · 2026-03-25T14:34:40+00:00

Kingsoft Cloud announced a net loss of 936 million yuan for 2023, with revenue increasing to 9.559 billion yuan, up 22.78% year-over-year. Lei Jun stepped down as non-executive director and chairman due to work arrangements, with Vice Chairman Zou Tao taking over. Qu Heng was appointed as non-executive director and committee member. The personnel changes take effect from March 25.

SighingCashier

2026-03-25 14:34:40

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Kingsoft Cloud (03896) announced that for the year ending December 31 last year, net loss was RMB 936 million, with a net loss per share of RMB 0.23. The net loss for the same period in 2024 was RMB 1.967 billion.

During the period, total revenue was RMB 9.559 billion, an increase of 22.78% year-on-year, driven by strong demand for intelligent computing cloud services and industry cloud projects.

Additionally, Kingsoft Cloud announced that Lei Jun has resigned as a non-executive director due to other work commitments. He also no longer serves as chairman, chairman of the Nomination Committee, or member of the Remuneration Committee of the Board; after Lei Jun’s resignation, Vice Chairman Zou Tao has been appointed as Chairman and Chairman of the Nomination Committee.

The company stated that Lei Jun has served as a non-executive director since the company’s founding in 2012 and has been chairman since 2015. The Board of Directors expressed heartfelt gratitude for Lei Jun’s diligent efforts and outstanding contributions during his tenure, including strategic planning, resource integration, and long-term development, and wished him continued success in his future endeavors.

In addition, Qu Heng has been appointed as a non-executive director, member of the Nomination Committee, and member of the Remuneration Committee.

All the above personnel changes took effect on March 25.

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