Beijing Kingsoft Office Software
Beijing Kingsoft Office Software, Inc. Is a China-based company mainly engaged in the design, research and development and sales promotion of WPS Office software products and services. The Company's products mainly include WPS Office software and Kingsoft. Business Office Area C, 2/F 33 West Xiaoying Rd, Haidian District Beijing: Kingsoft Office Software Holdings Limited: Corporation: Owner At Registration: Cayman Islands: 4/F, Harbour Place, 103 South Church St George Town, P.O. Box 10240 Grand Cayman KY1-1: Kingsoft Office Software Holdings Limited: Corporation: Owner at Publication: Cayman. Kingsoft Office is an office software product tool research and development operator. The main product is WPSOffice, which can be applied to various functions such as text, tables, and presentations of office software. It covers multiple platforms such as Windows, Linux, Android, and iOS. Beijing Kingsoft Office Software, 688111: Overview with real-time Short Interest, Analysts Estimates, Insiders, Director Dealings, Valuation, EPS, DPS, News, Peers.
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Shares in Beijing Kingsoft Office Software skyrocketed in its trading debut on Shanghai’s Nasdaq-style high-tech STAR board as investors enthusiastically embraced the China rival to U.S. software giant Microsoft.
Kingsoft Office raised 4.5 billion yuan ($640 million) on its trading debut on Monday by offering 101 million shares, or 21.91% of the company at 45.86 yuan ($6.53) apiece. After shares rose dramatically that day, their price fell 2.24% to 129.18 yuan on early trading on the second day of Tuesday, but were still trading around 180% higher than their initial public offering (IPO) price.
The Zhuhai-based company is best known for WPS Office software, a free alternative to Microsoft’s software suites such as Word and Excel, which can be used by numerous major operating systems including Microsoft Windows, Apple’s macOS and Google’s Android. In the first nine months this year, the company posted profits of 200 million yuan ($28.46 million), down 2.51% from the same period last year.
Kingsoft Office is a subsidiary of Beijing-headquartered Kingsoft, a Hong Kong-listed company which is controlled by Lei Jun, the founder of Chinese smartphone giant Xiaomi. Kingsoft specializes in video games, mobile apps, cloud storage, and office software. Kingsoft Office contributed 19.2% of the group’s total revenue in 2018.
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Read the full story on Caixin Global later today.
This article previously misstated Kingsoft Office's profit for the first nine months of this year.
Contact reporter Tang Ziyi (ziyitang@caixin.com)Caixinintern@caixin.com
Related: Kingsoft Office Targets $660 Million as It Moves Toward Listing on New Shanghai Tech Board(Yicai Global) Jan. 6 -- The ban levied by the US government yesterday against Kingsoft Office Software’s Writer, Presentation and Spreadsheets office suite will not have a substantial impact on the firm in the short term, the Chinese software developer told Yicai Global today.
Most of the 130 million overseas users of the Beijing-based company’s WPS products are non-fee paying and it only has a small amount of advertising business there, Kingsoft said. The firm will continue to review the possible consequences of the executive order and will issue further announcements in due course.
Eight Chinese software applications were the target of the Trump administration’s latest sanctions against Chinese companies over national security concerns. US businesses and individuals will in 45-days’ time be blocked from making transactions with Ant’s mobile payment app Alipay, Tencent Holding’s digital wallets WeChat Pay and QQ Wallet, its social messaging platform QQ, as well as image scanner CamScanner, cross-platform video, music and file sharing app SHAREit, multimedia app VMate and WPS Office.
Download streetsmart edge for mac. Kingsoft has been developing its own office software technology code independently for more than 30 years and does not depend on external open source platforms or need authorization from US companies, the company said.
WPS Office is one of China’s most popular office suites. It is used by two thirds of government offices and counts the country’s five major state-owned commercial banks and 11 of China’s 12 joint-stock commercial banks as clients. There were over 300 million monthly active users of Kingsoft products at the end of 2019.
The Beijing-based firm’s net profit almost tripled in the first three quarters last year from the same period last year to CNY595 million (USD92.2 million). Revenue was up 44.25 percent to CNY1.5 billion (USD232 million).
Google contacts settings. Kingsoft’s stock price [SHA:688111] sank 2.34 percent today to close at CNY397.96 (USD61.65).
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Editor: Kim Taylor