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Jinshanyun reported revenue of 1.97 billion yuan in the third quarter, down 18.4 percent year on year

via:新浪科技     time:2022/11/23 20:00:35     readed:167

On the evening of November 23, Beijing time, Jinshan Cloud (NASDAQ: KC) today released its financial results for the third quarter of 2022 ended September 30. Revenue for the third quarter was 1.968.8 billion yuan ($276.81 million), down 18.4 percent from 2.413.8 billion yuan a year earlier, the company reported. The net loss was 801.4 million yuan ($112.7 million), compared with a net loss of 810.5 million yuan in the previous quarter and 506.7 million yuan a year earlier. Non-GAAP net loss was 487.4 million yuan (US $68.5 million), compared with a net loss of 451.7 million yuan in the previous quarter and a net loss of 363.7 million yuan a year earlier.

Third Quarter Results:

Total revenue was 1.968.8 billion yuan ($276.81 million), down 18.4 percent from 2.413.8 billion yuan a year earlier.

The cost of revenue was 1.846.4 billion yuan (about $259.6 million), down 20.6 percent from 2.325.4 billion yuan a year ago.

Gross profit was 122.4 million yuan (about $17.2 million), up 38.5 percent from 88.4 million yuan a year earlier. Gross margin was 6.2 per cent, compared with 3.7 per cent a year ago. Excluding GAAP, gross profit was 124.7 million yuan (US $17.5 million), compared with 92.2 million yuan a year earlier. Gross margin was 6.3%, compared to 3.8% in the year-ago period.

Total operating expenses were RMB626.6 million (about RMB88.1 million), compared with RMB617.2 million in the previous quarter and RMB557.5 million a year earlier.

The operating loss was 504.2 million yuan (about $70.9 million), compared with an operating loss of 550.2 million yuan in the previous quarter and an operating loss of 469.1 million yuan a year earlier.

The net loss was 801.4 million yuan ($112.7 million), compared with a net loss of 810.5 million yuan in the previous quarter and a net loss of 506.7 million yuan a year earlier. Non-GAAP net loss was 487.4 million yuan (US $68.5 million), compared with a net loss of 451.7 million yuan in the previous quarter and a net loss of 363.7 million yuan a year earlier.

As of September 30, 2022, Jinshanyun had cash, cash equivalents and short-term investments of RMB 5,328.9 million (approximately US $749.1 million), compared to RMB 5,352 million as of June 30, 2022.

Performance Outlook:

Jinshanyun expects total revenue to reach 2 billion yuan to 2.2 billion yuan in the fourth quarter of 2022, up 1.6 percent to 11.7 percent quarter-on-quarter.

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