Condensed Financial Information of the Parent Company

12 Months Ended

Dec. 31, 2021

Condensed Financial Information of the Parent Company

24.	CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

Condensed Balance Sheets


	As at December 31
	2020			2021			2021
	RMB			RMB			US$
ASSETS
Current assets:
Cash and cash equivalents		68,012			69,393			10,889
Short-term investments		217,448			1,029,472			161,547
Prepayments and other assets		266,280			53,618			8,414
Amounts due from subsidiaries		7,983,060			5,508,311			864,374

Total current assets		8,534,800			6,660,794			1,045,224

Non-current assets:
Investments in subsidiaries		—			5,328,424			836,146

Total non-current assets		—			5,328,424			836,146

Total assets		8,534,800			11,989,218			1,881,370

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued expenses and other liabilities		256,630			182,075			28,572
Income tax payable		2,524			3,307			519
Amounts due to subsidiaries		1,692			4,846			760
Amounts due to related parties		407			829			130

Total current liabilities		261,253			191,057			29,981

Other liabilities		33,558			1,194,212			187,398

Total non-current liabilities		33,558			1,194,212			187,398

Total liabilities		294,811			1,385,269			217,379

Commitments and contingencies
Shareholders’ equity:
Ordinary shares (par value of US$0.001 per share; 4,000,000,000 and 40,000,000,000 shares authorized, 3,546,124,955 and 3,805,284,810 shares issued, 3,339,618,633 and 3,646,381,840 shares outstanding as of December 31, 2020 and 2021, respectively)		22,801			24,782			3,889
Additional paid-in capital		14,149,984			18,245,801			2,863,164
Accumulated deficit		(5,864,356	)		(7,458,752	)		(1,170,441	)
Accumulated other comprehensive loss		(68,440	)		(207,882	)		(32,621	)

Total Kingsoft Cloud Holdings Limited shareholders’ equity		8,239,989			10,603,949			1,663,991

Total liabilities and shareholders’ equity		8,534,800			11,989,218			1,881,370

Condensed Statements of Comprehensive Loss


	For the year ended December 31
	2019			2020			2021			2021
	RMB			RMB			RMB			US$
Operating expenses:
General and administrative expenses		(6,734	)		(27,052	)		(40,913	)		(6,420	)

Total operating expenses		(6,734	)		(27,052	)		(40,913	)		(6,420	)

Operating loss
Interest income		52,829			10,199			15,224			2,389
Foreign exchange (loss) gain		(8,174	)		30,931			10,198			1,601
Other (expenses) income, net		(300	)		5,377			9,889			1,552
Share of losses of subsidiaries and the VIEs		(1,145,405	)		(981,093	)		(1,582,142	)		(248,273	)

Loss before income taxes		(1,107,784	)		(961,638	)		(1,587,744	)		(249,151	)
Income tax expense		(3,415	)		(621	)		(968	)		(152	)

Net loss		(1,111,199	)		(962,259	)		(1,588,712	)		(249,303	)
Other comprehensive income (loss), net of tax of nil:
Foreign currency translation adjustments		64,598			(552,788	)		(139,442	)		(21,881	)

Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders		(1,046,601	)		(1,515,047	)		(1,728,154	)		(271,184	)
Accretion to redemption value of redeemable convertible preferred shares		(49,725	)		(19,768	)		—			—

Comprehensive loss attributable to ordinary shareholders		(1,096,326	)		(1,534,815	)		(1,728,154	)		(271,184	)

Condensed Statements of Cash Flows


	For the year ended December 31
	2019			2020			2021			2021
	RMB			RMB			RMB			US$
Net cash (used in) generated from operating activities		(2,538,479	)		(6,203,310	)		1,178,019			184,857
Net cash generated from (used in) investing activities		2,166,312			(218,674	)		(1,179,393	)		(185,072	)
Net cash generated from (used in) financing activities		370,294			5,945,666			(815	)		(128	)
Effect of exchange rate changes on cash and cash equivalents		10,921			3,969			3,570			559

Net increase (decrease) in cash and cash equivalents		9,048			(472,349	)		1,381			216
Cash and cash equivalents at beginning of the year		531,313			540,361			68,012			10,673

Cash and cash equivalents at end of the year		540,361			68,012			69,393			10,889

Basis of presentation

For the presentation of the parent company only condensed financial information, the Company records its investments in subsidiaries and the VIEs under the equity method of accounting as prescribed in ASC 323,

Investments—Equity Method and Joint Ventures

. Such investments are presented on the condensed balance sheets as “investments in subsidiaries” and the subsidiaries’ and the VIEs’ losses as “share of losses of subsidiaries and the VIEs” on the condensed statements of comprehensive loss. Under the equity method of accounting, the Company adjusted the carrying amount of “investments in subsidiaries” for its share of the subsidiaries’ and the VIEs’ cumulative losses until the investment balance reaches zero and did not provide for additional losses unless the Company has guaranteed obligations of the subsidiaries’ and the VIEs’ or is otherwise committed to provide further financial support.

The subsidiaries did not pay any dividends to the Company for the periods presented.

The Company does not have significant commitments or long-term obligations as of the period end.

The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements.