Kingsoft Office's Net Profit Rose 11.63% Last Year, 9 Out of Top 10 Shareholders Reduced Holdings

China Economic Net Beijing, March 26 — Kingsoft Office (688111.SH) disclosed its 2025 annual report last night, showing that the company achieved operating revenue of 5.929 billion yuan last year, a year-on-year increase of 15.78%; net profit attributable to shareholders of the listed company was 1.836 billion yuan, up 11.63% year-on-year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 1.803 billion yuan, an increase of 15.82%; net cash flow from operating activities was 2.502 billion yuan, up 13.93%.

The company’s 2025 profit distribution plan (draft) is: based on the total share capital registered on the equity registration date minus shares in the company’s repurchase special securities account, it is proposed to distribute a cash dividend of 12.5228 yuan (tax included) per 10 shares to all shareholders. Based on this, the total proposed cash dividend is 580,017,310.38 yuan (tax included). This draft still needs to be submitted for shareholder approval, and the actual distribution amount will be subject to the company’s announced implementation of the equity distribution.

At the beginning of the reporting period, the company’s total assets were 15.913 billion yuan, total liabilities were 4.476 billion yuan, and the asset-liability ratio was 28.13%. At the end of the reporting period, total assets were 18.156 billion yuan, total liabilities were 5.302 billion yuan, and the asset-liability ratio was 29.2%.

According to Kingsoft Office’s 2025 annual report, nine of the top ten shareholders reduced their holdings during the year. The decreases in holdings for the second to tenth largest shareholders were 4,031,006 shares, 5,675,619 shares, 6,071,970 shares, 1,234,327 shares, 108,643 shares, 245,179 shares, 1,107,649 shares, 492,577 shares, and 29,107 shares, respectively.

On the evening of April 2, 2025, Kingsoft Office disclosed the shareholder inquiry transfer result report and a notice that the shareholding of shareholders holding more than 5% has changed by more than 1%. The transfer price was 267.50 yuan per share, with 7,761,767 shares transferred. The date of this equity change was April 3, 2025. Based on this, the transfer amount was approximately 2.076 billion yuan.

The transfer was made by Beijing Kingsoft Qiwen Enterprise Management Consulting Co., Ltd., which is the general partner of Qiwen Nwei (excluding Qiwen Wuwei). The general partners of Qiwen Wuwei are Beijing Qiwen Yiwei Investment Co., Ltd. and Beijing Kingsoft Qiwen Enterprise Management Consulting Co., Ltd. According to the detailed equity change report published by Kingsoft Office on September 3, 2022, Qiwen Nwei and Kingsoft Office’s controlling shareholder, Kingsoft Office Application Software Co., Ltd., are in concerted action. Qiwen Nwei’s total shareholding exceeds 5%, and some directors, supervisors, and senior management of Kingsoft Office hold shares indirectly through Qiwen Nwei.

On November 18, 2019, Kingsoft Office was listed on the STAR Market, with an issue price of 45.86 yuan per share, issuing 101 million new shares, accounting for 21.91% of the total share capital after issuance. The total funds raised were approximately 4.63186 billion yuan; the actual net fundraising amount was about 2.40927 billion yuan more than initially planned. According to the prospectus disclosed on November 13, 2019, the company initially planned to raise 2.0501253 billion yuan for R&D upgrades of WPS Office, the construction of an AI basic R&D center in the office field, internet cloud services for office products, and internationalization of office software.

The total issuance expenses (excluding tax) amounted to approximately 172.4573 million yuan, including sponsorship and underwriting fees of about 150.3186 million yuan.

Kingsoft Office’s sponsor (lead underwriter) is China International Capital Corporation, with Xu Shiyan and Shi Yijie as sponsoring representatives.

China CICC Wealth Securities Co., Ltd. (a subsidiary participating in the co-investment as legally established) was allocated 2,180,549 shares, accounting for 2.16% of the initial public offering, with an allocation amount of approximately 99.99997 million yuan. The restricted sale period for these shares is 24 months from the date they are listed on the Shanghai Stock Exchange.

(Edited by: Zhang Xiaobo)

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