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Kingsoft Cloud Kingsoft Cloud Announces Unaudited Second Quarter 2021 Financial Results August 25 , 2021 BEIJING , Aug. 25 , 2021 ( GLOBE NEWSWIRE ) -- Kingsoft Cloud Holdings Limited ( " Kingsoft Cloud " or the " Company " ) ( NASDAQ : KC ) , a leading independent cloud service provider in China , today announced its unaudited financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Financial Highlights • Total revenues were RMB2 , 173.7 million ( US $ 1336.7 million ) in the second quarter of 2021 , representing a large increase of 41.6 % from RMB1,534.8 million in the same period of 2020. Benefitting from our strong , stable and sustainable relationship with our top premium customers , revenues from public cloud services have been increasing for six consecutive quarters since our first quarterly results after IPO . This quarter , revenues from public cloud services were RMB1,550.8 million ( US $ 240.2 million ) , compared with RMB1,287.1 million in the same period of 2020. Revenues from enterprise cloud services were RMB622.1 million ( US $ 96.4 million ) , representing a large increase of 152.8 % from RMB246.1 million in the same period of 2020 . • Gross profit increased by 46.8 % to RMB118.5 million ( US $ 18.4 million ) from RMB80.7 million in the same period of 2020 . Gross margin was 5.5 % , a slight increase from 5.3 % in the same period of 2020 . • Non - GAAP gross profit² , increased by 44.9 % to RMB121.4 million ( US $ 18.8 million ) from RMB83.8 million in the same period of 2020. Non - GAAP gross margin was 5.6 % , a slight increase from 5.5 % in the same period of 2020 . Mr. Yulin Wang , Chief Executive Officer of Kingsoft Cloud , commented , " We are very pleased to have delivered a very strong second quarter with accelerated year - on - year growth rate compared with the first quarter , for the Company as a whole , as well as for each of the business segment . In public cloud services , despite market headwinds , we continued to solidify relationship with existing customers and successfully engage new customers such as Meituan , one of the largest 020 companies in China . This speaks to the vitality and strength of our strategic focus on serving premium customers , neutrality positioning and technical prowess . In enterprise cloud services , we remain dedicated to top - notch execution and implementation of benchmark projects in select industry verticals and regions , and continued to scale our business by leveraging on such experience and reputation . We also look forward to the onboarding of the core management team from Camelot in relation to the recently announced strategic move in enterprise cloud services , where synergies in premium customer base , product offering portfolio , and project implementation capabilities are to be expected . " Mr. Henry He , Chief Financial Officer of Kingsoft Cloud added that , " We have achieved great strides in scaling up our business . Our total revenues of RMB2.17 billion in Q2 sets a new quarterly revenue record in our history , representing approximately 42 % year - over - year growth , which was an acceleration from the 30 % year - over - year growth in the first quarter 2021. Revenues from Public Cloud Services was RMB1.55 billion , a quarter- over - quarter increase of RMB158.9 million , representing the sixth consecutive quarterly revenue increase since our IPO , as well as a decent step up of incremental quarterly revenue . Revenues from Enterprise Cloud Services was RMB622.1 million , representing approximately 153 % year - on - year growth , another significant acceleration compared to the 131 % year - on - year growth in Q1 2021. " Second quarter 2021 Financial Results Total Revenues reached RMB2 , 173.7 million ( US $ 336.7 million ) , representing an accelerated increase of 41.6 % from RMB1,534.8 million in the same period of 2020. The increases were due to the growth in both public cloud services and enterprise cloud services for our premium customers . • Revenues from public cloud services were RMB1,550.8 million ( US $ 240.2 million ) , representing an increase of 20.5 % from RMB1,287.1 million in the same period of 2020. Revenues from public cloud services have been increasing for six consecutive quarters since our first quarterly results after IPO . The increase was mainly due to our stable relations with top premium customers and our more comprehensive PaaS capabilities , such as real - time communication and edge computing . • Revenues from enterprise cloud services were RMB622.1 million ( US $ 96.4 million ) , representing an increase of 152.8 % from RMB246.1 million in the same period of 2020. The increase was mainly due to the strong demand in the market and our capabilities to provide industry - specific solutions , especially in financial services and healthcare industries , which have been testified in our benchmark projects . • Other revenues were RMB0.8 million ( US $ 0.1 million ) . 1 This announcement contains translations of certain Renminbi ( RMB ) amounts into U.S. dollars ( US $ ) at a specified rate solely for the convenience of the reader . Unless otherwise noted , the translation of RMB into US $ has been made at RMB6.4566 to US $ 1.00 , the noon buying rate in effect on June 30 , 2021 as certified for customs purposes by the Federal Reserve Bank of New York . 2 Non - GAAP gross profit is defined as gross profit excluding share - based compensation allocated in the cost of revenues and we define Non - GAAP gross margin as Non - GAAP gross profit as a percentage of revenues . See " Use of Non - GAAP Financial Measures " set forth at the end of this press