🔹 Adj. EPS: (RMB 0.08) (Est. RMB -0.62) 🟢
🔹 Revenue: RMB 1.97B (Est. RMB 2B) 😐; +10.9% YoY,
🔹 Non-GAAP Gross Margin: 16.6%
Segment Performance:
🔸 AI Gross Billing: RMB 525M; +228% YoY, now 39% of Public Cloud
🔹 Public Cloud Revenue: RMB 1.35B; +14.0% YoY, -4.0% QoQ
🔹 Enterprise Cloud Revenue: RMB 616.5M; +4.8% YoY, -25.0% QoQ
Profitability & Expenses:
🔹 Cost of Revenue: RMB 1.65B; +11.4% YoY
• IDC Cost: RMB 722.8M; -6.0% YoY
• Depreciation/Amortization: RMB 378.5M; Up significantly YoY
🔹 Total OpEx: RMB 552.5M; -2.6% YoY, +17.7% QoQ
• S&M: RMB 144.3M (+23.6% YoY)
• G&A: RMB 182.0M (-16.8% YoY)
• R&D: RMB 226.2M (-2.5% YoY)
Balance Sheet & Cash:
🔹 Cash & Equivalents: RMB 2.32B (vs. RMB 2.65B as of Dec 2024)
🔹 Outstanding Shares: 3.7B (≈246.9M ADSs)
🔸 CEO Tao Zou: "Gross billing in AI jumped 228% YoY. AI is becoming core to cloud infrastructure and we are fully committed to sustainable business development."
🔸 CFO Henry He: “We posted solid year-over-year growth, but saw seasonal softness QoQ. Leasing helps reduce upfront cash needs but weighs on GPM near term.”