Kingsoft (3888.HK)2019Q3 in-line; Cloud services plans to spin-off and separate listing December 9, 2019 323

PSR Recommendation: BUY Status: Upgraded
Target Price: HKDHK23.86

Investment Summary
Kingsoft’s overall performance in 2019Q3 was better than expected. The online game
business meets expectations; the increase in corporate cloud revenue drives the rapid
growth of cloud services business; the enhanced user engagement and increased paid
users promotes the strong growth from value-added services revunue of WPS Office
personal edition.

About the author

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Gray Ru
Research Department

Graduated from The Hong Kong Polytechnic University, Master of Finance major in Investment Management. Good at fundamental analysis and combining with industry prospects. Focusing on the Technology, Media and Telecommunication (TMT) and Education sectors.

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