金山云2025 年度报告

Kingsoft Cloud Holdings Limited金山云控股有限公司 股份代號 : 3896（於開曼群島註冊成立的有限公司） 24912174548658490939598101166167 33D100085 33191928 Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 1617 97927 334 3A10 3896 127 KC Maples and Calder (Hong Kong) LLP1826 ksyun.com Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands EBITDAEBITDA EBITDAEBITDA EBITDAEBITDAEBITDAEBITDAEBITDA 9,558.61,366.922.8%6,633.5948.632.5%2,925.1418.35.3%1,503.4215.01,340.912.1%15.7%17.2%1,541.7220.51,357.813.5%16.1%17.4%EBITDA2,336.4334.1638.9265.7%EBITDA24.4%8.2% IaaSPaaSSaaSAI AIAPI 101,500EB 4,994.3714.24,124.7 AI 810.3115.91,120 (ESG) ESGESGESGESGESGESGESGESG AIagentic AIAI 9,558.61,366.97,785.222.8% •6,633.5948.65,007.332.5%2,961.7•2,925.1418.32,777.85.3%•0.00.00.1 8,055.21,151.96,444.325.0%IDC2,892.17.7%3,113.4445.22,321.7332.01,090.173.710.5235.768.7%2,306.8329.91,993.1IT 1,503.4215.01,340.912.1%17.2%15.7%1,357.81,541.7220.517.4%16.1% 551.478.9479.4 914.6130.8834.9 810.3115.9846.0 0.00.0919.7 772.9110.51,739.0152.221.8431.31.6%5.5% 943.7134.91,979.0 556.979.6825.3 EBITDA2,336.4334.1638.9EBITDA24.4%8.2% 0.230.030.54 6,018.0860.62,648.8127.2% 2,771.0396.22,504.11,115.9159.61,803.91,721.0246.1932.8 65.2%68.7% 5% 15,225 AI 464.866.5 15KC3896 5 20-F ••••••• 8,619.01,232.51,837.2(262.727% AI 2,854.0408.1322.746.113% 919.7 •••• • • • • ••• •••••PCAOB•PCAOB(HFCAA) ••••• ESG ESG622571 19AA 1. (i)(ii) (i)(ii)(iii)WPS365KOAIT(iv) 1. 28.129.365.666.1 2. 15 500.014A.90 15 3. (i)(ii)(iii) (i)(ii) 3. 4. (i)IDCIDC(ii) 4. 5. (i)(ii)(iii) 5. (1)(2)(3)79.60%20.40%80%20%(4)(5)(6)(i)(ii)(iii) ••••• 5. • • (i)100%(ii)20 5. 1 5. (i)(ii) 5. 50%(i)(ii) 5. (3)(6) (EDI)(EDI)Camelot (IoT) 5. (i)(ii)(a)(b) 4.1(i)(ii)5%5% 6,620.4946.769.3%17,663.12,525.866.1% 5. • ••••••• 5. (i)(ii)(iii)(iv)(v)(vi) (i)(ii)(iii) (i)(ii)(iii)(iv) 3000740 (i)(ii)(iii)(iv)(v) 69,375,0005.83404,456,250 23.4%55.2% 5% 30% 1 7 18 0.30.04 12 30 30 3050,000 2526 (i)(ii)(iii) 13.2013.2113.22 (i)Camelot(ii)Camelot(iii)Camelot(iv) CamelotCamelot Camelot 50 Seasun Holdings Limited688111XNET21Vianet Group, Inc.VNETCMCMSeasun Holdings Limited 44181081810 20032013 41181081810AI 63 Egis Technology Inc. (6462.TWO)Kaiyu Consulting Inc.1810(2454.TW)3.10(2) 54 000876)1988600016 53 6881116886963.10(2) EMBA 50 47 2007 44 BIDU 48 ZyngaMSFT 37 3.09D 3.09D C.5.1 (7) 3.13 C.2.1 B.2.2 3.21 (c) (d) (e)(f)(g)(h)(i) 49 (a)(b)(c)(d) 3.25 (a)(b) (c)(i)(ii)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)20-F(n) 49 (a) (b)(c) (i)12(ii)(i)(ii)(iii)(iv) 2E.1.5 4,000,0018,000,0008,000,00112,000,000 25 (a) (b) (c) (d) (e) (f) (g) (h) 49 (a)(b)(c)(d)(e) (a)(b)(c)(d)(e)(f)ESGESG(g)(h)(i) 49 (a)(b)(c)(d)(e)ESG •••••• (i)(ii)(iii)(iv)(v)3.13(vi) TMT 15,7669,5116,2551.52:1ESG ••• (2)2 √√√ 1. 2. 8489 •••• 153.29 59(10%)(21) 33D100085 ksc-ir@kingsoft.com ir.ksyun.com (a)(i)A1(ii)(b) XV(a)XV78(b)352(c) (1)L(2)4,531,784,801(3) XV23336 (1)LS(2)4,531,784,801(3)The Bank of New York MellonThe Bank of New York Mellon CorporationThe Bank of New YorkMellon CorporationThe Bank of New York Mellon420,864,920416,989,470(4)414,376,00051,785,000GreenBetterLimited 336 20% 12,991,4960.29% 12 11,314,8930.25% (a) (b)(i)(ii)(iii)(c)(d) (a) (b) (10%)380,528,48038,052,848(1%) 190,887,71066,359,57738,052,848 184,063,3494.06% 3.08% 121%12 (10) 1217.03F (a) (b) (c) (d) (e)12 (f)12 (a)(b)(5) (10) (i)(ii) (i)5.029.540.7115 (ii)9.4518.441.0915 (iii)6.7112.960.8315 (iv)6.9513.230.8515 (v)5.910.930.7215 (vi) (vii) (viii)30 13.51(2)(a)(e)(g)13.51B(1) (I) (i)11.2717,300,000259,500(ii)5.8318,000,00018,000(iii)11.272,775,00041,625 (II) 5.8369,375,00069,375 (III) 8.29338,000,000338,000 6.390.72 9.098.17 (I) 17,300,00018,000,0002,775,00069,375,000278,986,066 (II) 338,000,0002,759,989,700 27 (1)5,00020%(2)7,50030% 1995 ⭰㰟㛪姯⸒Ṳ⋀㈧榀㸖毩歁㵳勘䙮怺979噆⤑⏋✱ᷧ⺎27㧺Tel曢婘: +852 2846 9888Faxₚ䜆: +852 2868 4432ey.comErnst & Young27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong 90165 • • • • • • P05403 1,710,7371,817,085259,8401,490,5941,986,957284,1312,166,2653,307,636472,986 1,660,5843,023,538432,360309,6122,212,325316,358721,0822,570,487367,575 1. 1. SX-3A-02ASC810ASC810 1. 279 10,000 1. 0.001(i)(ii)(iii)(iv)(v)(vi)(vii)(viii) 1. (i)(ii)(iii) 1. 43,10382,69811,826 1. 1. 65.3%66.8%69.3% 2,177,9922,146,782306,98613198,95835,2575,042 2. 943,692134,94615,247,8682,180,416 6,117,237874,754 2. 6.99311.00 2. 50080 80,78911,553 2,636,656377,037100,00014,30050,0007,150157,74422,55733,1294,737 2. ASC825ASC 825 a) 2. b) ASC 820ASC 820 ASC 820 c) ASC323-10ASC 323-10ASC 323-10 49%ASC 323 2. c) 2. ASC 820ASC 820ASC 820 1 2 3 ASC 820(1)(2)(3) 2. 2422 2. ASC 326ASC 326 2. CDN919,7243 2. 2. ASC 350-20ASC 350-20A