Jinshan Cloud (KC.US) Q1 adjusted EBITDA increased 8.6 times year on year, AI bill revenue increased more than 200% year on year

On May 28, 2025, Jinshan Cloud (NASDAQ: KC, HKEX: 3896) released financial results for the first quarter of 2025. The results of the high-quality sustainable development strategy continued to show, and the company's overall performance achieved resilient growth during the quarter. Financial reports show that Jinshan Cloud's Q1 revenue was 1.97 billion yuan, up 10.9% year on year; among them, public cloud achieved revenue of 1.35 billion yuan, up 14.0% year on year; industry cloud achieved revenue of 620 million yuan, up 4.8% year on year; adjusted EBITDA increased 8.6 times year on year to reach 320 million yuan; adjusted EBITDA rate reached 16.2%, up 14.3 percentage points year on year, mainly due to the continuous increase in AI revenue share. During the quarter, Jinshan Cloud's AI bill revenue reached 530 million yuan, an increase of more than 200% over the previous year. The share of public cloud revenue climbed to 39%, leading the industry.

Zou Tao, Vice Chairman and CEO of Jinshanyun, said, “Under the guidance of a high-quality sustainable development strategy, our business fundamentals have been comprehensively improved, and the business has entered a new development cycle. Looking ahead, we will maintain in-depth cooperation with Xiaomi Jinshan Ecosystem, fully understand and explore new AI opportunities, and continue to create value for our customers, shareholders, employees and other stakeholders.”