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August 20, 2020

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Kingsoft Office flourishes in first half

BEIJING Kingsoft Office Soft­ware Inc, which offers WPS, an office processing tool like Microsoft’s Offices, posted a net profit surge of 140 percent in the first half, thanks to increased paid subscriptions and booming remote work demands during the coronavi­rus pandemic, the STAR-listed company said yesterday.

In the first half, Kingsoft Of­fice’s net profit jumped 143.3 percent to 357 million yuan (US$51 billion), close to the whole year profit in 2019 of 400 million yuan. Revenue was 916 million yuan, up 33.6 percent from a year ago, the company said in a statement to the Shanghai Stock Exchange

Kingsoft Office shares fell 1.85 percent to close at 371.00 yuan yesterday. Its market value reached 171.0 billion yuan, ranking No. 2 by market value of all STAR companies.



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