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ORGANIZATION AND BASIS OF PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2023

ORGANIZATION AND BASIS OF PRESENTATION

Schedule of Principal Subsidiaries Variable Interest Entities, and Subsidiaries

The Company’s principal subsidiaries, variable interest entities, and subsidiaries of its variable interest entities, are as follows:

Percentage of equity

Place of

Issued

Date of

interest

establishment

ordinary/registered

establishment/

attributable to

Name

and operations

share capital

acquisition

the Company

Principal activities

Direct (%)

Indirect (%)

Subsidiaries:

Kingsoft Cloud Corporation Limited

HK

HK$2 million

February 1, 2012

100

—

Cloud services

Beijing Kingsoft Cloud Technology Co., Ltd. (“Beijing Kingsoft Cloud”) *

Mainland China

RMB910,000

April 9, 2012

—

100

Research and development

Beijing Yunxiang Zhisheng Technology Co., Ltd. (“Yunxiang Zhisheng”) *

Mainland China

RMB1,390,000

December 15, 2015

—

100

Research and development

Camelot Technology Co., Ltd. (“Camelot Technology”) **

Mainland China

RMB250,000

September 3, 2021

—

92.23

Enterprise digital solutions and related services

Hainan Yangpu Kingsoft Cloud Information Technology Co., Ltd. **

Mainland China

RMB2,844,252

August 4, 2022

—

100

Cloud services

Variable interest entities:

Zhuhai Kingsoft Cloud Technology Co., Ltd. (“Zhuhai Kingsoft Cloud”) **

Mainland China

RMB11,080

November 9, 2012

Nil

—

Investment holding

Kingsoft Cloud (Beijing) Information Technology Co., Ltd. (“Kingsoft Cloud Information”) **

Mainland China

RMB10,000

April 13, 2018

Nil

—

Investment holding

Variable interest entities’ subsidiaries:

Beijing Kingsoft Cloud Network Technology Co., Ltd. (“Beijing Kingsoft Cloud Network Technology”) **

Mainland China

RMB200,000

November 9, 2012

—

Nil

Cloud services

Beijing Jinxun Ruibo Network Technology Co., Ltd. (“Beijing Jinxun Ruibo”) **

Mainland China

RMB10,000

December 17, 2015

—

Nil

Cloud services

Nanjing Qianyi Shixun Information Technology Co., Ltd. **

Mainland China

RMB15,000

March 31, 2016

—

Nil

Cloud services

Wuhan Kingsoft Cloud Information Technology Co., Ltd. **

Mainland China

RMB100,000

December 26, 2017

—

Nil

Cloud services

Kingsoft Cloud (Tianjin) Technology Development Co., Ltd. **

Mainland China

RMB100,000

May 30, 2019

—

Nil

Cloud services

Qingyang Kingsoft Cloud Data Information Technology Co., Ltd.**

Mainland China

RMB20,000

March 9, 2021

—

Nil

Cloud services

*	These companies are registered as wholly foreign-owned enterprises and limited liability enterprises under the law of mainland China.

**	These companies are registered as limited liability enterprises under the law of mainland China.

Schedule of Assets Liabilities Results of Variable Interest Entities

The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs and VIEs’ subsidiaries included in the Company’s consolidated balance sheets, consolidated statements of comprehensive loss and consolidated statements of cash flows:


		As at December 31
		2022		2023		2023
		RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		1,231,226		900,262		126,799
Restricted cash		107,840		89,981		12,674
Accounts receivable, net of allowance for credit losses of RMB32,413 and RMB20,606 (US$2,902) as of December 31, 2022 and 2023, respectively		2,032,260		1,127,936		158,866
Prepayments and other assets		927,040		1,067,695		150,382
Amounts due from related parties		216,346		182,484		25,702
Amounts due from subsidiaries of the Group		2,538,670		1,292,182		182,000
Total current assets		7,053,382		4,660,540		656,423
Non-current assets:
Property and equipment, net		1,978,937		2,053,109		289,174
Intangible assets, net		83,393		61,604		8,677
Prepayments and other assets		20,257		870,630		122,626
Goodwill		48,814		48,815		6,875
Equity investments		179,697		166,114		23,397
Amounts due from related parties		4,712		56,036		7,893
Operating lease right-of-use assets		147,719		125,804		17,719
Total non-current assets		2,463,529		3,382,112		476,361
Total assets		9,516,911		8,042,652		1,132,784
Current liabilities:
Accounts payable		2,113,674		1,646,804		231,947
Accrued expenses and other liabilities		644,858		1,003,831		141,387
Short-term bank loans		885,500		1,110,896		156,466
Amounts due to related parties		388,308		902,154		127,066
Current operating lease liabilities		87,142		63,830		8,990
Amounts due to subsidiaries of the Group		3,854,844		4,157,542		585,578
Total current liabilities		7,974,326		8,885,057		1,251,434
Non-current liabilities:
Long-term bank loan		—		100,000		14,085
Other liabilities		284,971		415,367		58,503
Non-current operating lease liabilities		90,138		64,466		9,080
Amounts due to related parties		413,464		40,069		5,644
Amounts due to subsidiaries of the Group		7,206,545		7,023,253		989,204
Total non-current liabilities		7,995,118		7,643,155		1,076,516
Total liabilities		15,969,444		16,528,212		2,327,950

Schedule of Operations and Cash Flows Results of Variable Interest Entities


		For the year ended December 31
		2021		2022		2023		2023
		RMB		RMB		RMB		US$
Revenues		7,972,143		5,571,837		4,599,721		647,857
Net loss		(1,556,904)		(2,211,057)		(2,110,022)		(297,190)
Net cash used in operating activities		(958,748)		(144,977)		(286,575)		(40,363)
Net cash used in investing activities		(843,586)		(1,167,374)		(1,833,636)		(258,262)
Net cash generated from financing activities		2,612,563		567,592		1,809,799		254,905