Loading…
Chinese software company best known for WPS Office productivity software and video game development through its Xishanju/Seasun studios.
Chinese software company best known for WPS Office productivity software and video game development through its Xishanju/Seasun studios.
Splits into games and office software. Games earn from in-game purchases, led by the long-running Jian Wang 3 martial-arts series, while WPS Office earns from personal subscriptions and enterprise and government licences. The WPS operator, Kingsoft Office, is separately listed in Shanghai, so part of its profit belongs to minority holders.
In one line: China's Microsoft Office (WPS) plus a game publisher.
Moat: narrow (brand, installed base, switching costs). WPS Office is the dominant domestic alternative to Microsoft Office in China with a large installed user base.
Headquarters: Beijing, China · Founded: 1988 · Employees: 8,945
Size Kingsoft (3888.HK) is a Hong Kong Information Technology company (Packaged Software) with a market value of $4.46B, the 275th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$25.52 on 6 Nov 2026.
Performance Over six months the shares gained 4.2%, against +6.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue fell 0.4% over the last twelve months (peer median +12.5%); the operating margin is 13.6% (peer median 1.7%).
Valuation It trades at 15.1× forward earnings against a peer median of 26.8× (3rd cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points below its cost of capital (8.3% WACC).
Next results Next results expected around 24 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$11.1B | HK$10.5B | HK$11.2B | HK$9.43B | HK$8.88B |
| Revenue growth | — | -6% | +19% | +6% | — |
| Gross profit | HK$8.93B | HK$8.32B | HK$9.10B | HK$7.55B | HK$6.91B |
| EBITDA | n/a | HK$2.14B | HK$4.11B | HK$2.70B | HK$2.40B |
| Net income | HK$3.16B | HK$2.17B | HK$1.68B | HK$534M | -HK$7.03B |
| Free cash flow | n/a | HK$2.52B | HK$5.14B | HK$3.43B | HK$2.73B |
| Capital expenditure | n/a | HK$371M | HK$462M | HK$524M | HK$592M |
| Total debt | HK$310M | HK$39.3M | HK$3.28B | HK$3.12B | HK$3.14B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kingsoft 3888.HK | $4.46B | +4% | 0% | 14% | 15.1× | -5.8% |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
| NTES 9999.HK | $81.4B | +8% | +10% | 35% | 14.0× | -3.5% |
| Tencent 0700.HK | $482B | -11% | +16% | 32% | 12.5× | 6.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3888.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | +6.6% | 8th lowest of 21 |
| 6-month return | +4.2% | +6.6% | 10th lowest of 20 |
| Distance from 52-week high | -26.2% | -29.4% | 11th highest of 21 |
| Revenue growth (TTM) | -0.4% | +12.5% | 3rd lowest of 21 |
| Operating margin | 13.6% | 1.7% | 5th highest of 21 |
| Forward P/E | 15.1× | 26.8× | 3rd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -5.8% | 16.1% | least demanding of 13 |
| Growth delivered (Del g) | +10.8% | +13.5% | 5th lowest of 13 |
| Hurdle (Req g minus delivered) | -16.6 pp | -1.4 pp | least demanding of 13 |
| ROIC minus cost of capital | -1.6 pp | -5.3 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kingsoft 3888.HK | Hong Kong | $4.46B | +4% | 0% | 14% | 15.1× | -5.8% | +10.8% |
| BILL BILL | United States | $4.50B | +25% | +13% | 1% | 13.7× | 36.5% | +47.3% |
| Maase MAAS | United States | $4.51B | +7% | -84% | -16% | n/a | n/a | n/a |
| Tenable TENB | United States | $4.40B | +93% | +10% | 5% | 17.8× | 30.1% | +17.8% |
| HUB24 HUB.AX | Australia | $4.39B | -4% | +23% | 29% | 42.6× | 35.6% | +35.7% |
| CCC Intelligent Solutions CCC | United States | $4.54B | +50% | +11% | 18% | 15.1× | 11.2% | +10.8% |
| RXO RXO | United States | $4.55B | +27% | +10% | 0% | 53.0× | n/a | n/a |
| HeartFlow HTFL | United States | $4.56B | +15% | +40% | -34% | n/a | n/a | n/a |
| Planet Labs PBC PL | United States | $4.57B | -68% | +44% | -26% | n/a | n/a | n/a |
| Beijing DeepZero Technology 2723.HK | Hong Kong | $4.58B | n/a | +31% | 1% | n/a | n/a | n/a |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 17.8× | -2.3% | +11.9% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| Yonyou Network Technology 600588.SS | China | $4.72B | -21% | +4% | -16% | n/a | n/a | n/a |
| OBIC Business Consultants 4733.T | Japan | $4.74B | +62% | +12% | 47% | 36.1× | 3.2% | +11.9% |
| Shanghai Stonehill Technology 002195.SZ | China | $4.77B | -34% | +11% | -25% | 284.5× | n/a | n/a |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
| Asseco Poland ACP.WA | Poland | $4.85B | +31% | +2% | 11% | 23.5× | 4.0% | +6.6% |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 17.4× | 20.8% | +25.3% |