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Kingsoft's revenue gains 4% in H1 amid a rapidly growing cloud business

Kingsoft's cloud business covers smart city, finance, health care, manufacturing and Internet of Things sectors.

Kingsoft Corp, a Chinese software company, posted a revenue growth of 4 percent in the first half amid a booming game business and cloud business which the firm regards as its new profit engine, Shanghai Daily learned today.

In the first half, Hong Kong-listed Kingsoft's revenue amounted to 2.6 billion yuan (US$376 million), with online game, cloud and office software WPS as its three major businesses.

“We maintained a steady operation during this quarter and achieved our established goals (on game, cloud and WPS),” said Lei Jun, chairman of Kingsoft, who is also founder and chief executive of Xiaomi, which listed in Hong Kong in July.

Kingsoft’s cloud business revenue jumped 55 percent in the first six months. Kingsoft’s cloud business, which integrates with new technologies like artificial intelligence and blockchain, covers smart city, finance, health care, manufacturing and Internet of Things sectors. Kingsoft is cloud service provider of 42 Beijing government bureaus.

Kingsoft WPS is the biggest China-developed office software tool.

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