Kingsoft Cloud Powers Through Q1 2026 with Impressive Revenue Growth and Expanded Ecosystem Partnerships
In its most recent conference call transcript reported on May 27th, Kingsoft Cloud has made a significant impact in the cloud computing industry. As announced by CEO Tao Zou during the call, the company continues to firmly push forward its high-quality, sustainable development strategy.
With the further popularization of AI coding and the explosion of AI intelligent agents, Kingsoft Cloud's revenue scale has seen a year-on-year increase of 37.2% in Q1 2026, reaching RMB 270 million. This impressive growth is attributed to both public cloud and industry cloud seeing year-on-year increases, with public cloud revenue reaching RMB 200 million, a year-on-year increase of 47.5%. In terms of profitability, the company achieved adjusted net profit of RMB 350 million, a year-on-year increase of 8.6%, and adjusted EBITDA of RMB 750 million, a year-on-year increase of 134.7%.
The computing business has been a driving force behind Kingsoft Cloud's growth, with gross revenue reaching RMB 100 million in Q1 2026, a year-on-year increase of 90.1%. This is the first time that computing business has accounted for over half of public cloud revenue, reaching 50.1%. Token business revenue growth was particularly strong, increasing 26 times that of January to April 2026.
Kingsoft Cloud's ecosystem partnerships have also deepened, with revenue from Xiaomi and Kingsoft ecosystems reaching RMB 840 million in Q1 2026, a year-on-year increase of 68.9%. This represents 31% of the company's total revenue. With Xiaomi enhancing investments in the human-home-car ecosystem and AI fields, bringing more business opportunities, Kingsoft Cloud has revised the continuous related transaction cap with Xiaomi. Within the 2025 to 2027 three-year framework, the Xiaomi-Kingsoft continuous related revenue cap reaches RMB 142 billion.
CEO Tao Zou highlighted that Kingsoft Cloud's strategy of strengthening its computing, cloud infrastructure, and training and promotion platform capabilities has been instrumental in driving business growth. The company's commitment to industry vertical scenarios and AI-generated world is also paying off, with adjusted EBITDA margin reaching 27.6%, an increase of 11.4 percentage points year-on-year.
