Kingsoft Corp Ltd Adr

good day and thank you for standing by welcome to the 2023 fourth quarter and annual earnings conference call at this time all participants are in a listen only mode after the speaker's presentation there will be a question and answer session to ask a question during this session you will need to press star 1 and 1 on your telephone you will then hear an automated message advising your hand is raised To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Yinan Li. Please go ahead.

Thank you, Operator. Ladies and gentlemen, good evening and good morning. I would like to welcome everyone to our 2023 fourth quarter and annual results earnings call. I'm Li Yinan, the ad director of Kingsoft. I would like to start by reminding you that some information provided during the earnings call may include forward-looking statements, which may not be reliable in the future for various reasons. These forward-looking statements are based on our information and information from other sources, which we believe to be reliable. Please refer to the other publicly disclosed documents for detailed discussion on risk factors which may affect our business and operations. Additionally, in today's earnings call, the management will deliver prepared remarks in both Chinese and English. A third party interpreter will provide consecutive interpretation into English. During the Q&A session, We will accept questions in both English and Chinese with alternating interpretation provided by the third-party interpreter. On-site translation is solely to facilitate communication during the conference call. In case of any discrepancies between the original remarks and the translation, the statement made by the management will prevail. Having said that, please allow me to introduce our management team who joined us today. Mr. Zhou Tao, our executive director and CEO, and Ms. Li Yi, our acting CFO. Now, I'm turning the call to Mr. Zhou.

Hello, everyone. In 2023, the overall business of the Group will maintain a steady growth. We actively promote core business for sustainable development in the future. to build a solid foundation. Jinshan Office Group continues to invest in the development of AI and co-operative fields around multi-level, cloud, content, cooperation, and AI strategies, using the integration of large models to continue to provide better office experience for users. WPS AI completed the backup in the fourth quarter and officially launched the project, further enhancing the new scene of the smart office, to develop the user's AI office habits, to open up the user's smart office experience, and to build a good foundation for the subsequent promotion of the commercialization process. At the same time, at the beginning, we continue to explore with our leading customers how PSAI can be implemented in the current office scene, such as providing AI machine generation in the public domain, individualized knowledge storage, data, intelligence analysis, and other services. Promote new generation office software to speed up delivery, achieve new productivity, and actually land in the office scene of thousands and hundreds of pages. Network game business, stick to the elite strategy. At the same time as growing the martial arts game category, there is also a gradual progress in the exploration of new channels. In 2023, the company's business lines will continue to grow steadily. The company's total revenue of RMB85.3 billion will increase by 12%. The office software and service business will maintain a stable business status. Under the guidance of domestic personal and institutional subscription business growth, the annual revenue of RMB45.6 billion 17% increase in net game and other business revenue, RMB 3.9.8 billion, a 6% increase in net profit, mainly due to the strong growth drive of Jianwang 3. In 2023, the operating profit of this group, RMB 22.3 billion, a 19% increase in net profit, Hello everyone.