← Kingsoft Cloud Holdings Ltd
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and Cash Equivalents, at Carrying Value | $310.1m | $524.9m | $661.8m | $495.7m | $317.7m | $362.9m | $860.6m | |
| Prepaid Expense and Other Assets, Current | $421.9m | $136.0m | $264.7m | $233.7m | $255.3m | $305.9m | $370.7m | |
| Short-term Investments | $225.4m | $412.7m | $390.9m | $181.8m | $0 | $12.4m | $0 | |
| Cash and cash equivalents | $2.0b | $3.4b | $4.2b | $3.4b | $2.3b | $2.6b | $6.0b | |
| Accounts receivable, net of allowance for credit losses of RMB57,612 and RMB99,422 (US$14,217) as of December 31, 2024 and 2025, respectively | $1.3b | $2.3b | $3.6b | $2.4b | $1.5b | $1.5b | $1.7b | |
| Accounts Receivable | — | — | — | $2.4b | $1.5b | $1.5b | $1.7b | |
| Accrued Interest Receivable | — | — | — | $22.0m | $1.4m | $948k | $8.2m | |
| Allowance For Doubtful Accounts Receivable | — | — | — | ($48.0m) | ($24.7m) | ($57.6m) | ($99.4m) | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | $4.7b | $2.3b | $2.7b | $6.0b | |
| Gross Accounts Receivable | — | — | — | $2.5b | $1.6b | $1.5b | $1.8b | |
| Other Current Assets | — | — | — | $91.4m | $80.7m | $121.3m | $162.3m | |
| Other Receivables | — | — | — | $621.3m | $700.1m | $776.3m | $796.0m | |
| Other Short Term Investments | — | — | — | $1.3b | $0 | $90.4m | $0 | |
| Prepaid Assets | — | — | — | $873.6m | $1.0b | $1.3b | $1.6b | |
| Taxes Receivable | — | — | — | $3.7m | $11.0m | $64.9m | $24.8m | |
| Assets, Current | $4.1b | $1.5b | $1.9b | $1.3b | $858.9m | $937.2m | $1.6b | |
| Total current assets | $4.1b | $9.5b | $12.4b | $9.0b | $6.1b | $6.8b | $11.0b | |
| Property, Plant and Equipment, Net | $1.7b | $299.9m | $371.0m | $309.3m | $307.9m | $634.3m | $1.4b | |
| Goodwill | — | $0 | $725.8m | $667.8m | $648.7m | $631.0m | $658.6m | |
| Intangible Assets, Net (Excluding Goodwill) | $7.4m | $2.5m | $183.6m | $146.1m | $117.5m | $95.2m | $76.2m | |
| Intangible assets, net | $7.4m | $16.6m | $1.2b | $1.0b | $834.5m | $694.9m | $532.8m | |
| Goodwill And Other Intangible Assets | — | — | — | $5.6b | $5.4b | $5.3b | $5.1b | |
| Other Intangible Assets | — | — | — | $1.0b | $834.5m | $694.9m | $532.8m | |
| Operating Lease, Right-of-Use Asset | — | $40.9m | $40.2m | $32.0m | $22.4m | $18.8m | $14.1m | |
| Other Assets, Noncurrent | $2.5m | $436k | $577k | $298k | $1.4m | $4.7m | $13.9m | |
| Prepayments and other assets | $36.5m | $11.8m | $29.1m | $21.3m | $870.8m | $450.0m | $139.8m | |
| Operating lease right-of-use assets | — | $267.0m | $256.5m | $220.5m | $158.8m | $137.0m | $98.4m | |
| Additional Financial Items | ||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.3b | $357.8m | $560.4m | $348.3m | $215.5m | $201.2m | $248.9m | |
| Restricted cash | — | $0 | $239.1m | $114.6m | $234.2m | $81.3m | $99.2m | |
| Amounts due from related parties | $2.3m | $5.8m | $5.8m | $5.8m | $56.3m | $0 | $573.4m | |
| Equity investments | $114.9m | $126.6m | $207.2m | $273.6m | $259.9m | $234.2m | $234.2m | |
| Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB1,490,594 and RMB1,986,957 (US$284,131) as of December 31, 2024 and 2025, respectively) | $949.2m | $845.4m | $2.2b | $2.8b | $2.8b | $3.3b | $3.2b | |
| Short-term borrowings (including short-term borrowings of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB1,110,896 and RMB2,166,265 (US$296,777) as of December 31, 2023 and 2024, respectively) | — | $278.5m | $1.3b | $909.5m | $1.1b | $2.2b | $3.3b | |
| Income tax payable (including income tax payable of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB nil and RMB nil (US$ nil) as of December 31, 2023 and 2024, respectively) | $11.9m | $20.6m | $60.2m | $51.9m | $64.0m | $69.2m | $73.3m | |
| Amounts due to related parties (including amounts due to related parties of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB902,154 and RMB1,504,654 (US$206,137) as of December 31, 2023 and 2024, respectively) | — | — | — | $427.7m | $931.9m | $1.6b | $721.9m | |
| Current operating lease liabilities (including current operating lease liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB63,830 and RMB40,329 (US$5,525) as of December 31, 2023 and 2024, respectively) | — | $76.5m | $108.6m | $136.7m | $78.7m | $61.3m | $40.9m | |
| Long-term borrowings (including long-term borrowings of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB100,000 and RMB1,660,584 (US$227,499) as of December 31, 2023 and 2024, respectively) | $74.4m | — | — | — | $100.0m | $1.7b | $3.0b | |
| Other liabilities | — | $40.6m | $1.2b | $370.5m | $674.9m | $1.1b | $4.9b | |
| Non-current operating lease liabilities (including non-current operating lease liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB64,466 and RMB49,352 (US$6,761) as of December 31, 2023 and 2024, respectively) | — | $183.0m | $158.3m | $123.1m | $78.3m | $65.8m | $51.1m | |
| Treasury shares | — | — | — | ($208.4m) | ($208.4m) | ($105.5m) | ($31.1m) | |
| Statutory reserves funds | — | — | ($7.7m) | ($14.7m) | $21.8m | $32.0m | $51.7m | |
| Non-controlling interests | — | $61k | $888.5m | $782.5m | $355.8m | $337.3m | ($4.0m) | |
| Accumulated Depreciation | — | — | — | ($3.8b) | ($4.1b) | ($5.0b) | ($6.8b) | |
| Buildings And Improvements | — | — | — | $161.4m | $128.8m | $72.1m | $75.8m | |
| Capital Lease Obligations | — | — | — | $440.6m | $511.6m | $1.3b | $3.9b | |
| Construction In Progress | — | — | — | $22.7m | $1.2b | $548.6m | $224.2m | |
| Current Accrued Expenses | — | — | — | $980.2m | $583.9m | $464.3m | $368.3m | |
| Current Capital Lease Obligation | — | — | — | $136.7m | $114.9m | $546.1m | $1.3b | |
| Current Debt | — | — | — | $909.5m | $1.1b | $2.2b | $3.3b | |
| Current Debt And Capital Lease Obligation | — | — | — | $1.0b | $1.2b | $2.8b | $4.7b | |
| Current Deferred Liabilities | — | — | — | $428.7m | $438.1m | $492.2m | $274.2m | |
| Duefrom Related Parties Current | — | — | — | $246.5m | $266.0m | $318.5m | $573.4m | |
| Duefrom Related Parties Non Current | — | — | $5.8m | $5.8m | $56.3m | $0 | — | |
| Dueto Related Parties Current | — | — | — | $427.7m | $931.9m | $1.6b | $721.9m | |
| Dueto Related Parties Non Current | — | — | — | $413.5m | $40.1m | $309.6m | $2.2b | |
| Gross PPE | — | — | — | $6.2b | $7.3b | $10.2b | $17.1b | |
| Income Tax Payable | — | — | — | $55.6m | $72.0m | $133.7m | $95.4m | |
| Invested Capital | — | — | — | $9.7b | $8.1b | $9.1b | $15.7b | |
| Investments And Advances | — | — | — | $273.6m | $259.9m | $234.2m | $234.2m | |
| Line Of Credit | — | — | $1.3b | $909.5m | — | — | — | |
| Long Term Capital Lease Obligation | — | — | — | $303.9m | $396.7m | $762.9m | $2.6b | |
| Long Term Equity Investment | — | — | — | $273.6m | $259.9m | $234.2m | $234.2m | |
| Machinery Furniture Equipment | — | — | — | $335.0m | $326.3m | $193.5m | $195.8m | |
| Net Debt | — | — | — | — | — | $1.2b | $353.8m | |
| Net PPE | — | — | — | $2.4b | $3.2b | $5.2b | $10.2b | |
| Net Tangible Assets | — | — | — | $3.2b | $1.4b | ($132.6m) | $4.2b | |
| Non Current Accounts Receivable | — | — | $5.8m | $5.8m | $56.3m | — | — | |
| Non Current Deferred Assets | — | — | $7.8m | $0 | — | — | — | |
| Non Current Deferred Liabilities | — | — | — | $271.2m | $229.7m | $104.7m | $64.7m | |
| Non Current Deferred Taxes Assets | — | — | $7.8m | $0 | — | — | — | |
| Ordinary Shares Number | — | — | — | $3.5b | $3.6b | $3.7b | $4.5b | |
| Other Current Borrowings | — | — | — | $909.5m | $1.1b | $2.2b | $3.3b | |
| Other Current Liabilities | — | — | — | $98.9m | $73.5m | $36.4m | $80.5m | |
| Other Equity Adjustments | — | — | — | $467.8m | $577.1m | $598.9m | $492.1m | |
| Other Non Current Assets | — | — | — | $2.1m | $10.1m | $34.5m | $97.5m | |
| Other Non Current Liabilities | — | — | — | $45.0m | $36.6m | $37.4m | $32.3m | |
| Other Payable | — | — | — | $1.2b | $1.6b | $1.6b | $1.0b | |
| Other Properties | — | — | — | $5.6b | $5.6b | $9.4b | $16.6b | |
| Properties | — | — | — | $0 | $0 | $0 | $0 | |
| Share Issued | — | — | — | $3.8b | $3.8b | $3.8b | $4.5b | |
| Tangible Book Value | — | — | — | $3.2b | $1.4b | ($132.6m) | $4.2b | |
| Tradeand Other Payables Non Current | — | — | — | $40.5m | $192.7m | $52.7m | $57.9m | |
| Treasury Shares Number | — | — | — | $296.9m | $243.2m | $117.6m | $51.9m | |
| Working Capital | — | — | — | $2.4b | ($730.5m) | ($2.3b) | $1.6b | |
| Total non-current assets | $1.9b | $2.4b | $8.7b | $8.3b | $9.0b | $10.8b | $15.7b | |
| Total non-current liabilities | $74.6m | $223.6m | $2.1b | $1.1b | $995.8m | $2.9b | $8.0b | |
| Total Kingsoft Cloud Holdings Limited shareholders' equity | ($4.2b) | $8.2b | $10.6b | $8.8b | $6.9b | $5.2b | $9.3b | |
| Total equity | ($4.2b) | $8.2b | $11.5b | $9.6b | $7.2b | $5.5b | $9.3b | |
| Total Capitalization | — | — | — | $8.8b | $7.0b | $6.8b | $12.3b | |
| Total Debt | — | — | — | $1.4b | $1.7b | $5.2b | $10.3b | |
| Total Tax Payable | — | — | — | $165.9m | $189.3m | $315.2m | $266.0m | |
| Assets | $6.0b | $1.8b | $3.3b | $2.5b | $2.1b | $2.4b | $3.8b | |
| Total assets | $6.0b | $11.9b | $21.1b | $17.3b | $15.1b | $17.6b | $26.7b | |
| LIABILITIES AND EQUITY | ||||||||
| Current liabilities: | ||||||||
| Operating Lease, Liability, Current | — | $11.7m | $17.0m | $19.8m | $11.1m | $8.4m | $5.9m | |
| Accounts Payable, Current | $1.3b | $315.3m | $461.1m | $333.8m | $254.2m | $257.1m | $288.1m | |
| Operating Lease, Liability, Noncurrent | — | $28.0m | $24.8m | $17.8m | $11.0m | $9.0m | $7.3m | |
| Long-term Debt, Excluding Current Maturities | $74.4m | — | — | $250.0m | $299.6m | $227.5m | $432.4m | |
| Long-term Debt, Current Maturities | $100.0m | $11.4m | $0 | — | — | — | — | |
| Accounts payable (including accounts payable of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB1,646,804 and RMB1,710,737 (US$234,370) as of December 31, 2023 and 2024, respectively) | $1.3b | $2.1b | $2.9b | $2.3b | $1.8b | $1.9b | $2.0b | |
| Current Deferred Revenue | — | — | — | $428.7m | $438.1m | $492.2m | $274.2m | |
| Payables And Accrued Expenses | — | — | — | $5.1b | $5.1b | $5.9b | $4.4b | |
| Liabilities, Current | $2.4b | $531.1m | $1.2b | $965.4m | $961.8m | $1.3b | $1.3b | |
| Total current liabilities | $2.4b | $3.5b | $7.5b | $6.7b | $6.8b | $9.2b | $9.4b | |
| Deferred Income Tax Liabilities, Net | $206k | $4k | $32.3m | $24.2m | $20.1m | $13.9m | $8.9m | |
| Other Liabilities, Noncurrent | — | $6.2m | $193.4m | $53.7m | — | — | — | |
| Deferred tax liabilities (including deferred tax liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB nil and RMB nil (US$ nil) as of December 31, 2023 and 2024, respectively) | $206k | $29k | $205.9m | $167.1m | $142.6m | $101.7m | $61.9m | |
| Long Term Debt And Capital Lease Obligation | — | — | — | $303.9m | $496.7m | $2.4b | $5.6b | |
| Non Current Deferred Taxes Liabilities | — | — | — | $167.1m | $142.6m | $101.7m | $61.9m | |
| Deferred Tax Liabilities, Net | — | — | — | $24.2m | $20.1m | $13.9m | $8.9m | |
| Liabilities | $2.5b | $565.4m | $1.5b | $1.1b | $1.1b | $1.7b | $2.5b | |
| Total liabilities | $2.5b | $3.7b | $9.6b | $7.7b | $7.8b | $12.1b | $17.4b | |
| Stockholders’ equity: | ||||||||
| Preferred Stock, Value, Issued | $123.2m | — | — | — | — | — | — | |
| Common Stock, Value, Issued | $5.6m | $3.5m | $3.9m | $3.6m | $3.6m | $3.5m | $4.4m | |
| Additional Paid in Capital | $91.7m | $2.2b | $2.9b | $2.7b | $2.6b | $2.6b | $3.4b | |
| Retained Earnings (Accumulated Deficit) | ($4.9b) | ($898.8m) | ($1.2b) | ($1.5b) | ($1.7b) | ($2.0b) | ($2.2b) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $484.3m | ($10.5m) | ($32.6m) | $65.7m | $78.2m | $77.7m | $63.0m | |
| Accumulated deficit | ($4.9b) | ($5.9b) | ($7.5b) | ($10.1b) | ($12.3b) | ($14.3b) | ($15.2b) | |
| Accumulated other comprehensive income | $484.3m | ($68.4m) | ($207.9m) | $453.1m | $555.3m | $566.9m | $440.4m | |
| Capital Stock | — | — | — | $25.1m | $25.4m | $25.7m | $30.9m | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | $467.8m | $577.1m | $598.9m | $492.1m | |
| Treasury Stock | — | — | — | $208.4m | $208.4m | $105.5m | $31.1m | |
| Stockholders' Equity Attributable to Parent | ($4.2b) | $1.3b | $1.7b | $1.3b | $970.5m | $708.0m | $1.3b | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $9k | $139.4m | $113.4m | $50.1m | $46.2m | ($571k) | |
| Minority Interest | — | — | — | $782.5m | $355.8m | $337.3m | ($4.0m) | |
| Total Equity Gross Minority Interest | — | — | — | $9.6b | $7.2b | $5.5b | $9.3b | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | $1.1b | $995.8m | $2.9b | $8.0b | |
| Liabilities and Equity | $6.0b | $1.8b | $3.3b | $2.5b | $2.1b | $2.4b | $3.8b | |
| Total liabilities, non-controlling interests and shareholders' equity | $6.0b | $11.9b | $21.1b | $17.3b | $15.1b | $17.6b | $26.7b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.