Kingsoft Cloud Holdings Limited

Good morning, ladies and gentlemen, and thank you for standing by for Kingsoft Cloud's first quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question and answer session. As a reminder, today's conference call is being recorded. I will now turn the meeting over to your host for today's call, Mr. Wayne Wang, Investor Relations of Kingsoft Cloud. Please proceed, Wayne.

Thank you, operator. Hello, everyone, and thank you for joining us today. Kingsoft Cloud's first quarter 2026 earnings release was just built earlier today and is available on our website at ir.ksyun.com as well as on PR Newswire services. On the call today from Kingsoft Cloud, we have our chairman and CEO, Mr. Joe Tao, CFO, Ms. Li Yi, Senior Vice President, Mr. Liu Tao, Senior Vice President, Mr. Tian Kaiyan, Vice President, Mr. Wang Zhenzhen, and Boss Secretary, Mr. Clark Tian. Mr. Zhou will discuss all business strategies, operations, and other company highlights, followed by Ms. Li, who will discuss the financial performance. They will be available to answer your questions during the Q&A session that follows. There will be consecutive interpretations. All interpretations are for your convenience. and reference purposes only. In case of any discrepancy, management statement in the original language will prevail. Before we begin, I would like to remind you that this conference call contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon management's current expectations and current markets and operating conditions and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the company's control, which may cause the company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding this and other risks, uncertainties, or factors are included in the company's filings with the U.S. SEC. The company does not undertake any obligations to update any forward-looking statement as a result of new information, future events, or otherwise, except as required under applicable law. Finally, please note that unless otherwise stated, all financial figures mentioned during this conference call have been nominated in RMB. It is now my pleasure to introduce our chairman and CEO, Mr. Zhou. Please go ahead.

Hello, everyone. . . . . . . . . . . Xinshanyun continues to firmly promote high-quality sustainable development strategies. On the one hand, Xinshanyun's basic facilities and training and promotion platform capabilities. On the other hand, the deep-rooted industry has fallen along with the scene. A new investment in AI to remake the world's changes. First of all, the company has continued to grow in high quality. In terms of revenue size, In this quarter, we achieved a revenue of 27.0 billion yuan, which is 37.2% of the net profit. The share price and the industry share price achieved the same net profit. The share price of the share price reached 20 billion yuan, which is 47.5% of the net profit. In terms of profit and loss, in this quarter, the company achieved a net profit of 3.5 billion yuan after adjustment. The net profit increased After adjustment, EBITDA increased by 7.5 billion yuan, which increased by 134.7%. After adjustment, EBITDA rate increased by 27.6%, which increased by 11.4%. Secondly, Zhishan continued to drive the company's business growth. This quarter, Zhishan's business account revenue reached 1 billion yuan, which increased by 90.1%. with more than half of Gong Youyun's income, reaching 50.1%. Token business revenue is growing rapidly. In April of 2026, it was 53 times that of January. Third, ecological cooperation continues to deepen. This quarter, the income from Xiaomi and Jinshan Ecology reached 8.4 billion yuan, which is 68.9% of the total growth. with a total revenue of 31%. As Xiaomi strengthens its investment in the human car industry and the AI field, it brings more business opportunities. Our Mi上条 and Xiaomi持续关联交易上限调整后,2025-2027三年框架内,来自小米金山持续关联收入上限达142亿元,