Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Kingsoft Cloud Holdings Ltd |
Entity Central Index Key | 0001795589 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 3,646,381,840 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Interactive Data Current | Yes |
Document Accounting Standard | U.S. GAAP |
Entity File Number | 001-39278 |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | Building E, Xiaomi Science and Technology Park, No. 33 Xierqi Middle Road |
Entity Address, Address Line Two | Haidian District |
Entity Address, City or Town | Beijing |
Entity Address, Postal Zip Code | 100085 |
Entity Address, Country | CN |
ICFR Auditor Attestation Flag | true |
Auditor Name | Ernst & Young Hua Ming LLP |
Auditor Firm ID | 1408 |
Auditor Location | Beijing, the People’s Republic of China |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Haijian He |
Entity Address, Address Line One | Building E, Xiaomi Science and Technology Park, No. 33 Xierqi Middle Road |
Entity Address, Address Line Two | Haidian District |
Entity Address, City or Town | Beijing |
Entity Address, Postal Zip Code | 100085 |
Entity Address, Country | CN |
City Area Code | 86 |
Extension | 10 |
Local Phone Number | 6292 7777 |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American depositary shares, each ADS represents 15 ordinary shares, par value US$0.001 per share |
Trading Symbol | KC |
Security Exchange Name | NASDAQ |
Ordinary Shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares, par value US$0.001 per share |
No Trading Symbol Flag | true |
Security Exchange Name | NASDAQ |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Current assets: | |||
Cash and cash equivalents | ¥ 4,217,528 | $ 661,822 | ¥ 3,424,674 |
Restricted cash | 239,093 | 37,519 | 0 |
Accounts receivable, net of allowance for credit losses of RMB15,770 and RMB32,265 (US$5,063) as of December 31, 2020 and 2021, respectively | 3,570,975 | 560,364 | 2,334,871 |
Short-term investments | 2,491,056 | 390,901 | 2,693,019 |
Prepayments and other assets | 1,687,021 | 264,730 | 887,086 |
Amounts due from related parties | 207,143 | 32,505 | 205,068 |
Total current assets | 12,412,816 | 1,947,841 | 9,544,718 |
Non-current assets: | |||
Property and equipment, net | 2,364,103 | 370,979 | 1,956,790 |
Intangible assets, net | 1,169,767 | 183,562 | 16,573 |
Goodwill | 4,625,115 | 725,781 | 0 |
Prepayments and other assets | 29,066 | 4,561 | 11,824 |
Equity investments | 207,166 | 32,509 | 126,583 |
Amounts due from related parties | 5,758 | 904 | 5,758 |
Deferred tax assets | 7,798 | 1,224 | 0 |
Operating lease right-of-use assets | 256,451 | 40,243 | 266,968 |
Total non-current assets | 8,665,224 | 1,359,763 | 2,384,496 |
Total assets | 21,078,040 | 3,307,604 | 11,929,214 |
Current liabilities: | |||
Accounts payable (including accounts payable of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB2,013,428 and RMB2,733,487 (US$428,944) as of December 31, 2020 and 2021, respectively) | 2,938,632 | 461,135 | 2,057,355 |
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB521,307 and RMB1,208,868 (US$189,698) as of December 31, 2020 and 2021, respectively) | 2,223,840 | 348,969 | 845,374 |
Short-term bank loans (including short-term bank loans of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB278,488 and RMB1,348,166 (US$211,557) as of December 31, 2020 and 2021, respectively) | 1,348,166 | 211,557 | 278,488 |
Long-term bank loan, current portion (including long-term bank loan, current portion of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB74,351 and RMB nil (US$ nil) as of December 31, 2020 and 2021, respectively) | 0 | 0 | 74,351 |
Income tax payable (including income tax payable of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB45 and RMB1,026 (US$161) as of December 31, 2020 and 2021, respectively) | 60,217 | 9,449 | 20,564 |
Amounts due to related parties (including amounts due to related parties of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB56,795 and RMB797,731 (US$125,181) as of December 31, 2020 and 2021, respectively) | 836,435 | 131,255 | 112,998 |
Current operating lease liabilities (including current operating lease liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB56,261 and RMB70,672 (US$11,090) as of December 31, 2020 and 2021, respectively) | 108,590 | 17,040 | 76,469 |
Total current liabilities | 7,515,880 | 1,179,405 | 3,465,599 |
Non-current liabilities: | |||
Amounts due to related parties (including amounts due to related parties of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB nil and RMB472,882 (US$74,206) as of December 31, 2020 and 2021, respectively) | 472,882 | 74,206 | 0 |
Deferred tax liabilities (including deferred tax liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB29 and RMB nil (US$ nil) as of December 31, 2020 and 2021, respectively) | 205,889 | 32,308 | 29 |
Other liabilities (including other liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB7,020 and RMB6,975 (US$1,095) as of December 31, 2020 and 2021, respectively) | 1,232,677 | 193,434 | 40,578 |
Non-current operating lease liabilities (including non-current operating lease liabilities of the consolidated VIEs and their subsidiaries without recourse to the primary beneficiary of RMB146,012 and RMB121,057 (US$18,996) as of December 31, 2020 and 2021, respectively) | 158,289 | 24,839 | 182,958 |
Total non-current liabilities | 2,069,737 | 324,787 | 223,565 |
Total liabilities | 9,585,617 | 1,504,192 | 3,689,164 |
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 3,646,477,840 shares outstanding as of December 31, 2020 and 2021, respectively) | 24,782 | 3,889 | 22,801 |
Additional paid-in capital | 18,245,801 | 2,863,164 | 14,149,984 |
Accumulated deficit | (7,458,752) | (1,170,441) | (5,864,356) |
Accumulated other comprehensive loss | (207,882) | (32,621) | (68,440) |
Total Kingsoft Cloud Holdings Limited shareholders' equity | 10,603,949 | 1,663,991 | 8,239,989 |
Non-controlling interests | 888,474 | 139,421 | 61 |
Total equity | 11,492,423 | 1,803,412 | 8,240,050 |
Total liabilities, non-controlling interests and shareholders' equity | ¥ 21,078,040 | $ 3,307,604 | ¥ 11,929,214 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥)shares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020CNY (¥)shares |
Accounts receivable, net | ¥ 32,265 | $ 5,063 | ¥ 15,770 |
Accounts payable | 7,515,880 | 1,179,405 | 3,465,599 |
Accrued expenses and other current liabilities | 2,223,840 | 348,969 | 845,374 |
Short-term bank loans | 1,348,166 | 211,557 | 278,488 |
Long-term bank loan, current portion | 0 | 0 | 74,351 |
Income tax payable | 60,217 | 9,449 | 20,564 |
Amounts due to related parties | 836,435 | 131,255 | 112,998 |
Current operating lease liabilities | ¥ 108,590 | $ 17,040 | ¥ 76,469 |
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | ||
Common stock shares authorised | 40,000,000,000 | 40,000,000,000 | 4,000,000,000 |
Common Stock, Shares, Issued | 3,805,284,810 | 3,805,284,810 | 3,546,124,955 |
Common Stock, Shares, Outstanding | 3,646,381,840 | 3,646,381,840 | 3,339,618,633 |
Amounts due to related parties | ¥ 472,882 | $ 74,206 | ¥ 0 |
Deferred tax liabilities | 205,889 | 32,308 | 29 |
Other liabilities | 1,232,677 | 193,434 | 40,578 |
Non-current operating lease liabilities | 158,289 | 24,839 | 182,958 |
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | |||
Accounts payable | 2,733,487 | 428,944 | 2,013,428 |
Accrued expenses and other current liabilities | 1,208,868 | 189,698 | 521,307 |
Short-term bank loans | 1,348,166 | 211,557 | 278,488 |
Long-term bank loan, current portion | 0 | 0 | 74,351 |
Income tax payable | 1,026 | 161 | 45 |
Amounts due to related parties | 797,731 | 125,181 | 56,795 |
Current operating lease liabilities | 70,672 | 11,090 | 56,261 |
Amounts due to related parties | 472,882 | 74,206 | 0 |
Deferred tax liabilities | 0 | 0 | 29 |
Other liabilities | 6,975 | 1,095 | 7,020 |
Non-current operating lease liabilities | ¥ 121,057 | $ 18,996 | ¥ 146,012 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥)¥ / sharesshares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020CNY (¥)¥ / sharesshares | Dec. 31, 2019CNY (¥)¥ / sharesshares | |
Revenues: | ||||
Revenues | ¥ 9,060,784 | $ 1,421,835 | ¥ 6,577,307 | ¥ 3,956,353 |
Cost of revenues (including related party amounts of RMB660, RMB988 and RMB2,194 (US$344) for the years ended December 31, 2019, 2020 and 2021, respectively) | (8,709,496) | (1,366,710) | (6,220,324) | (3,948,644) |
Gross profit | 351,288 | 55,125 | 356,983 | 7,709 |
Operating expenses: | ||||
Selling and marketing expenses | (518,167) | (81,312) | (409,211) | (317,426) |
General and administrative expenses | (601,702) | (94,420) | (379,892) | (238,648) |
Research and development expenses | (1,043,811) | (163,797) | (775,130) | (595,169) |
Total operating expenses | (2,163,680) | (339,529) | (1,564,233) | (1,151,243) |
Operating loss | (1,812,392) | (284,404) | (1,207,250) | (1,143,534) |
Interest income | 71,942 | 11,289 | 77,118 | 78,612 |
Interest expense | (52,040) | (8,166) | (9,453) | (4,925) |
Foreign exchange (loss) gain | 37,822 | 5,935 | 188,800 | (38,961) |
Other gain, net | 83,606 | 13,120 | 14,301 | |
Other income (expense), net | 95,047 | 14,915 | (10,810) | 6,612 |
Loss before income taxes | (1,576,015) | (247,311) | (947,294) | (1,102,196) |
Income tax expense | (15,741) | (2,470) | (14,904) | (9,003) |
Net loss | (1,591,756) | (249,781) | (962,198) | (1,111,199) |
Less: net income (loss) attributable to non-controlling interests | (3,044) | (478) | 61 | |
Net loss attributable to Kingsoft Cloud Holdings Limited | (1,588,712) | (249,303) | (962,259) | (1,111,199) |
Accretion to redemption value of redeemable convertible preferred shares | 0 | 0 | (19,768) | (49,725) |
Net loss attributable to ordinary shareholders | ¥ (1,588,712) | $ (249,303) | ¥ (982,027) | ¥ (1,160,924) |
Net loss per share: | ||||
Basic and diluted | (per share) | ¥ (0.46) | $ (0.07) | ¥ (0.41) | ¥ (1.31) |
Shares used in the net loss per share computation: | ||||
Basic and diluted | 3,441,729,444 | 3,441,729,444 | 2,400,874,197 | 889,521,200 |
Other comprehensive income (loss), net of tax of nil: | ||||
Foreign currency translation adjustments | ¥ (139,575) | $ (21,902) | ¥ (552,788) | ¥ 64,598 |
Comprehensive loss | (1,731,331) | (271,683) | (1,514,986) | (1,046,601) |
Less: Comprehensive income (loss) attributable to non-controlling interests | (3,177) | (499) | 61 | |
Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders | (1,728,154) | (271,184) | (1,515,047) | (1,046,601) |
Accretion to redemption value of redeemable convertible preferred shares | 0 | 0 | (19,768) | (49,725) |
Comprehensive loss attributable to ordinary shareholders | (1,728,154) | (271,184) | (1,534,815) | (1,096,326) |
Public cloud service [Member] | ||||
Revenues: | ||||
Revenues | 6,159,085 | 966,495 | 5,166,851 | 3,458,843 |
Enterprise Cloud Services [Member] | ||||
Revenues: | ||||
Revenues | 2,897,817 | 454,731 | 1,372,689 | 486,308 |
Others [Member] | ||||
Revenues: | ||||
Revenues | ¥ 3,882 | $ 609 | ¥ 37,767 | ¥ 11,202 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Loss (Parenthetical) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Revenue from Related Parties | ¥ 929,524 | $ 145,863 | ¥ 777,369 | ¥ 688,307 |
Cost from Related Parties | 980 | 154 | 988 | 660 |
Public cloud services [Member] | ||||
Revenue from Related Parties | 905,755 | 142,133 | 777,287 | 688,187 |
Others [Member] | ||||
Revenue from Related Parties | 74 | 12 | 82 | 120 |
Enterprise Cloud Services [Member] | ||||
Revenue from Related Parties | ¥ 23,695 | $ 3,718 | ¥ 0 | ¥ 0 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' (Deficit) Equity ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) | IPO [Member]CNY (¥) | Series B Converted Preferred Shares and Series C, D and D+ Redeemable Converted Preferred Shares [Member]CNY (¥) | Follow on offering [Member]CNY (¥) | Preferred Stock [Member]CNY (¥)shares | Common Stock [Member]CNY (¥)shares | Common Stock [Member]USD ($)shares | Common Stock [Member]IPO [Member]CNY (¥)shares | Common Stock [Member]Series B Converted Preferred Shares and Series C, D and D+ Redeemable Converted Preferred Shares [Member]CNY (¥)shares | Common Stock [Member]Follow on offering [Member]CNY (¥)shares | Additional Paid-in Capital [Member]CNY (¥) | Additional Paid-in Capital [Member]USD ($) | Additional Paid-in Capital [Member]IPO [Member]CNY (¥) | Additional Paid-in Capital [Member]Series B Converted Preferred Shares and Series C, D and D+ Redeemable Converted Preferred Shares [Member]CNY (¥) | Additional Paid-in Capital [Member]Follow on offering [Member]CNY (¥) | AOCI Attributable to Parent [Member]CNY (¥) | AOCI Attributable to Parent [Member]USD ($) | Retained Earnings [Member]CNY (¥) | Retained Earnings [Member]USD ($) | Total Kingsoft Cloud Holdings Limited shareholdersdeficit equity [Member]CNY (¥) | Total Kingsoft Cloud Holdings Limited shareholdersdeficit equity [Member]USD ($) | Total Kingsoft Cloud Holdings Limited shareholdersdeficit equity [Member]IPO [Member]CNY (¥) | Total Kingsoft Cloud Holdings Limited shareholdersdeficit equity [Member]Series B Converted Preferred Shares and Series C, D and D+ Redeemable Converted Preferred Shares [Member]CNY (¥) | Total Kingsoft Cloud Holdings Limited shareholdersdeficit equity [Member]Follow on offering [Member]CNY (¥) | Non-Controlling InterestsCNY (¥) | Non-Controlling InterestsUSD ($) | Series A Convertible Preferred Shares [Member]Preferred Stock [Member]CNY (¥)shares |
Balance (In shares) at Dec. 31, 2018 | shares | 793,430,000 | 793,430,000 | 458,116,000 | |||||||||||||||||||||||||
Balance at Dec. 31, 2018 | ¥ (3,243,111) | ¥ 4,851 | ¥ 419,750 | ¥ (3,790,898) | ¥ 123,186 | |||||||||||||||||||||||
Net (loss) profit for the year | (1,111,199) | (1,111,199) | ||||||||||||||||||||||||||
Accretion to redemption value of redeemable convertible preferred shares | (49,725) | ¥ (49,725) | ||||||||||||||||||||||||||
Other comprehensive income (loss) | 64,598 | 64,598 | ||||||||||||||||||||||||||
Share-based compensation (Note 16) | 121,279 | 121,279 | ||||||||||||||||||||||||||
Exercise and vesting of share-based awards (Note 16) (In shares) | shares | 101,281,200 | 101,281,200 | ||||||||||||||||||||||||||
Exercise and vesting of share-based awards (Note 16) | 20,899 | ¥ 707 | 20,192 | |||||||||||||||||||||||||
Balance (In shares) at Dec. 31, 2019 | shares | 458,116,000 | 894,711,200 | 894,711,200 | 458,116,000 | ||||||||||||||||||||||||
Balance at Dec. 31, 2019 | (4,197,259) | ¥ 123,186 | ¥ 5,558 | 91,746 | 484,348 | (4,902,097) | ¥ (4,197,259) | ¥ 123,186 | ||||||||||||||||||||
Net (loss) profit for the year | (962,198) | (962,259) | (962,259) | ¥ 61 | ||||||||||||||||||||||||
Accretion to redemption value of redeemable convertible preferred shares | (19,768) | (19,768) | (19,768) | |||||||||||||||||||||||||
Repurchase of ordinary shares (In shares) | shares | (5,475,254) | (5,475,254) | ||||||||||||||||||||||||||
Repurchase of ordinary shares | (26,700) | ¥ (38) | (26,662) | (26,700) | ||||||||||||||||||||||||
Issuance of ordinary shares (In shares) | shares | 517,500,000 | 138,750,000 | ||||||||||||||||||||||||||
Issuance of ordinary shares | ¥ 3,875,394 | ¥ 1,881,233 | ¥ 3,663 | ¥ 945 | ¥ 3,871,731 | ¥ 1,880,288 | ¥ 3,875,394 | ¥ 1,881,233 | ||||||||||||||||||||
Conversion of Series A, Series B convertible preferred shares and Series C, Series D and Series D+ redeemable convertible preferred shares into ordinary shares (In shares) | shares | (458,116,000) | 458,116,000 | 458,116,000 | 1,259,133,571 | ||||||||||||||||||||||||
Conversion of Series A, Series B convertible preferred shares and Series C, Series D and Series D+ redeemable convertible preferred shares into ordinary shares | ¥ 7,889,115 | ¥ (123,186) | ¥ 3,243 | ¥ 8,913 | 119,943 | ¥ 7,880,202 | ¥ 7,889,115 | |||||||||||||||||||||
Other comprehensive income (loss) | (552,788) | (552,788) | (552,788) | |||||||||||||||||||||||||
Share-based compensation (Note 16) | 330,114 | 330,114 | 330,114 | |||||||||||||||||||||||||
Exercise and vesting of share-based awards (Note 16) (In shares) | shares | 76,883,116 | 76,883,116 | ||||||||||||||||||||||||||
Exercise and vesting of share-based awards (Note 16) | 22,907 | ¥ 517 | 22,390 | 22,907 | ||||||||||||||||||||||||
Balance (In shares) at Dec. 31, 2020 | shares | 3,339,618,633 | 3,339,618,633 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | 8,240,050 | ¥ 22,801 | 14,149,984 | (68,440) | (5,864,356) | 8,239,989 | 61 | |||||||||||||||||||||
Adoption of ASC 326 | (5,684) | (5,684) | (5,684) | |||||||||||||||||||||||||
Net (loss) profit for the year | (1,591,756) | $ (249,781) | (1,588,712) | (1,588,712) | (3,044) | |||||||||||||||||||||||
Accretion to redemption value of redeemable convertible preferred shares | 0 | 0 | ||||||||||||||||||||||||||
Business acquisition, Shares | shares | 247,475,446 | 247,475,446 | ||||||||||||||||||||||||||
Business acquisition | 4,508,673 | ¥ 1,598 | 3,615,485 | 3,617,083 | 891,590 | |||||||||||||||||||||||
Other comprehensive income (loss) | (139,575) | (139,442) | (139,442) | (133) | ||||||||||||||||||||||||
Share-based compensation (Note 16) | 434,350 | 434,350 | 434,350 | |||||||||||||||||||||||||
Exercise and vesting of share-based awards (Note 16) (In shares) | shares | 59,287,761 | 59,287,761 | ||||||||||||||||||||||||||
Exercise and vesting of share-based awards (Note 16) | 46,365 | ¥ 383 | 45,982 | 46,365 | ||||||||||||||||||||||||
Balance (In shares) at Dec. 31, 2021 | shares | 3,646,381,840 | 3,646,381,840 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2021 | ¥ 11,492,423 | $ 1,803,412 | ¥ 24,782 | $ 3,889 | ¥ 18,245,801 | $ 2,863,164 | ¥ (207,882) | $ (32,621) | ¥ (7,458,752) | $ (1,170,441) | ¥ 10,603,949 | $ 1,663,991 | ¥ 888,474 | $ 139,421 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' (Deficit) Equity (Parenthetical) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | |||
Stock Issued During Period, Shares, Issued for Services | 158,902,970 | 206,506,322 | 182,375,104 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net loss | ¥ (1,591,756) | $ (249,781) | ¥ (962,198) | ¥ (1,111,199) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 855,604 | 134,263 | 758,038 | 604,581 |
Share-based compensation | 434,350 | 68,159 | 330,114 | 121,279 |
Provision for credit losses | 112,013 | 17,577 | 31,881 | 20,645 |
Gain on disposal of property and equipment | (5,814) | (912) | (2,242) | (74) |
Changes in fair value of equity investments | (82,492) | (12,945) | (14,301) | |
Gain on disposal of equity investments | (10,363) | (1,626) | ||
Changes in fair value of purchase consideration of a business acquisition | 9,249 | 1,451 | ||
Changes in fair value of contingent consideration of a business acquisition | (7,034) | (1,104) | ||
Issuance costs expensed for follow-on offering | 3,727 | |||
Foreign exchange loss (gain) | (37,822) | (5,935) | (188,800) | 38,961 |
Deferred income tax | (11,852) | (1,860) | (177) | (177) |
Non-cash operating lease expense | 52,648 | 8,262 | 52,890 | |
Changes in operating assets and liabilities: | ||||
Accounts receivable | (947,790) | (148,727) | (1,024,113) | (823,033) |
Prepayments and other assets | 30,883 | 4,846 | (356,761) | (5,883) |
Amounts due from related parties | (2,075) | (326) | (75,315) | 84,981 |
Accounts payable | 593,410 | 93,119 | 804,198 | 533,771 |
Accrued expenses and other liabilities | (91,018) | (14,283) | 381,001 | 103,276 |
Operating lease liabilities | (31,791) | (4,989) | (45,748) | |
Amounts due to related parties | 2,064 | 324 | 8,739 | (11,163) |
Income tax payable | 20,717 | 3,251 | 8,457 | 4,726 |
Net cash used in operating activities | (708,869) | (111,236) | (290,433) | (439,132) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Purchases of property and equipment | (723,285) | (113,500) | (1,559,946) | (999,538) |
Disposal of property and equipment | 8,319 | 1,305 | 1,363 | |
Purchases of intangible assets | (12,106) | (1,900) | (16,865) | (115) |
Purchases of short-term investments | (2,568,325) | (403,026) | (5,607,690) | (1,111,968) |
Proceeds from maturities of short-term investments | 2,720,186 | 426,857 | 2,891,597 | 3,107,623 |
Purchases of land use rights | (14,832) | |||
Acquisition of equity investments | (52,493) | (8,237) | (14,650) | (94,376) |
Disposal of equity investments | 63,476 | 9,961 | ||
Acquisition of business, net of cash acquired | 139,350 | 21,867 | ||
Asset-related government grants received | 3,255 | 511 | 7,020 | 5,000 |
Loans to senior executives | (23,379) | |||
Net cash (used in) generated from investing activities | (421,623) | (66,162) | (4,314,003) | 883,247 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Repayment of long-term bank loan | (74,351) | (11,667) | (100,000) | (80,787) |
Repayment of short-term bank loans | (496,707) | (77,944) | ||
Proceeds from short-term bank loans | 1,540,166 | 241,685 | 278,487 | |
Proceeds from IPO, net of offering costs | 3,933,393 | |||
Proceeds from follow-on offering, net of offering costs | 1,876,316 | |||
Proceeds from loans due to related parties | 1,192,455 | 187,122 | ||
Repayment of loan due to a related party | (225,000) | |||
Proceeds from exercise of options | 50,924 | 7,991 | 11,227 | 20,899 |
Proceeds from redeemable convertible preferred shares, net of issuance costs | 124,730 | 349,395 | ||
Net cash generated from financing activities | 2,212,487 | 347,187 | 6,124,153 | 64,507 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (50,048) | (7,854) | (118,306) | 7,570 |
Net increase in cash, cash equivalents, and restricted cash | 1,081,995 | 169,789 | 1,519,717 | 508,622 |
Cash, cash equivalents, and restricted cash at beginning of year | 3,424,674 | 537,406 | 2,023,263 | 1,507,071 |
Cash, cash equivalents, and restricted cash at end of year | 4,456,621 | 699,341 | 3,424,674 | 2,023,263 |
Supplemental disclosures of cash flow information: | ||||
Restricted cash | 239,093 | 37,519 | ||
Income taxes paid | 6,874 | 1,079 | 6,270 | 4,277 |
Interest expense paid | 45,844 | 7,194 | 9,206 | 24,143 |
Cash payments for operating leases | 35,214 | 5,526 | 60,273 | |
Non-cash investing and financing activities: | ||||
Purchases of property and equipment included in accrued expenses and other liabilities | 759,391 | 119,165 | 181,038 | 609,363 |
Acquisitions of equity investments included in accrued expenses and other liabilities | 15,500 | |||
Settlement of senior executive loans by repurchase of ordinary shares | 26,700 | |||
Right-of-use assets obtained in exchange for operating lease liabilities | 6,915 | 1,085 | ¥ 195,890 | |
Purchase consideration included in accrued expenses and other liabilities | 1,328,508 | 208,472 | ||
Series D+ redeemable convertible preferred shares issuance costs included in accrued expenses and other liabilities | ¥ 10,276 | |||
Non-cash acquisition of business | ¥ 3,617,083 | $ 567,599 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Basis of Presentation | 1. ORGANIZATION AND BASIS OF PRESENTATION Kingsoft Cloud Holdings Limited (the “Company”) is a limited liability company incorporated in the Cayman Islands on January 3, 2012. The Company, its subsidiaries, its variable interest entities, and subsidiaries of its variable interest entities are hereinafter collectively referred to as the “Group”. The Group is principally engaged in the provision of cloud services. The Company does not conduct any substantive operations on its own but instead conducts its primary business operations through its subsidiaries, the variable interest entities, and subsidiaries of its variable interest entities, which are located in the People’s Republic of China (the “PRC”), Hong Kong (“HK”) and the United States (the “U.S.”). As disclosed in Note 19, the Company completed its IPO and follow-on As of December 31, 2021, the Company’s principal subsidiaries, variable interest entities, and subsidiaries of its variable interest entities, are as follows: Name Place of establishment Date of establishment/ acquisition Percentage of equity interest attributable to the Company Principal activities Subsidiaries: Kingsoft Cloud Corporation Limited HK February 1, 2012 100 % Cloud services Kingsoft Cloud (Tianjin) Technology Development . PRC May 30, 2019 100 % Cloud services Wuhan Kingsoft Cloud Information Technology PRC December 26, 2017 100 % Cloud services Beijing Kingsoft Cloud Technology Co., Ltd. PRC April 9, 2012 100 % Research and development Beijing Yunxiang Zhisheng Technology Co., Ltd. PRC December 15, 2015 100 % Research and development Camelot Technology Co ., L td . PRC September 3, 2021 82.15 % Enterprise digital solutions and related services Variable interest entities: Zhuhai Kingsoft Cloud Technology Co., Ltd. PRC November 9, 2012 Nil Investment holding Kingsoft Cloud (Beijing) Information Technology PRC April 13, 2018 Nil Investment holding Variable interest entities’ subsidiaries: Beijing Kingsoft Cloud Network Technology Co., PRC November 9, 2012 Nil Cloud services Beijing Jinxun Ruibo Network Technology Co., PRC December 17, 2015 Nil Cloud services Nanjing Qianyi Shixun Information Technology PRC March 31, 2016 Nil Cloud services * Collectively In September 2021, the Company acquired 100% equity interests in Camelot Employee S s To comply with PRC laws and regulations which prohibit foreign control of companies that engage in value-added telecommunication services, the Group primarily conducts its business in the PRC through its variable interest entities, Zhuhai Kingsoft Cloud and Kingsoft Cloud Information, and subsidiaries of its variable interest entities (collectively, the “VIEs”). The equity interests of the VIEs are legally held by PRC shareholders (the “Nominee Shareholders”). Despite the lack of technical majority ownership, the Company through WFOE has effective control of the VIEs through a series of contractual arrangements (the “Contractual Agreements”) and a parent-subsidiary relationship exists between the Company and the VIEs. Through the Contractual Agreements, the Nominee Shareholders effectively assigned all of their voting rights underlying their equity interests in the VIEs to the Company and therefore, the Company has the power to direct the activities of the VIEs that most significantly impact its economic performance. The Company also has the ability and obligation to absorb substantially all of the profits and all the expected losses of the VIEs that potentially could be significant to the VIEs. The WFOE was the primary beneficiary of the VIEs through December 2019 and the Company has replaced the WFOE as the primary beneficiary of the VIEs since December 2019. Based on the above, the Company consolidates the VIEs in accordance with SEC Regulation SX-3A-02 Consolidation The following is a summary of the Contractual Agreements: Shareholder Voting Right Trust Agreements Pursuant to the shareholder voting right trust agreements signed amongst Beijing Kingsoft Cloud, Zhuhai Kingsoft Cloud and its Nominee Shareholders, each Nominee Shareholder irrevocably authorizes the person designated by Beijing Kingsoft Cloud to act as his, her or its attorney-in-fact The terms of the shareholder voting right trust agreements signed amongst Yunxiang Zhisheng, Kingsoft Cloud Information and its Nominee Shareholders are the same as the terms described above. Loan Agreements Beijing Kingsoft Cloud has granted interest-free loans with an aggregate amount of RMB279 to one shareholder of Zhuhai Kingsoft Cloud. The loan was solely for the purposes of capital injection of Zhuhai Kingsoft Cloud. The loans are only repayable by the shareholder through a transfer of her equity interests in Zhuhai Kingsoft Cloud to Beijing Kingsoft Cloud or its designated person(s). The terms of the loan agreement signed between Yunxiang Zhisheng and all Nominee Shareholders of Kingsoft Cloud Information are the same as the terms described above, except that the total amount of loans extended to all Nominee Shareholders of Kingsoft Cloud Information is RMB10,000. Exclusive Purchase Option Agreements Pursuant to the exclusive purchase option agreement between Beijing Kingsoft Cloud, Zhuhai Kingsoft Cloud and its Nominee Shareholders, Beijing Kingsoft Cloud has an exclusive irrevocable option to purchase, all or part of the equity interests in Zhuhai Kingsoft Cloud, when and to the extent permitted under PRC law. The purchase price of the equity interests in Zhuhai Kingsoft Cloud shall be equal to the minimum amount of consideration permitted by applicable PRC law or either RMB0.001 or the loan amount, whichever is higher. In addition, the Nominee Shareholders granted Beijing Kingsoft Cloud an exclusive right to designate one or more persons to purchase all or part of the equity interests in Zhuhai Kingsoft Cloud. The exclusive purchase option agreement will terminate when the Nominee Shareholders transfer all of their equity interests in Zhuhai Kingsoft Cloud to Beijing Kingsoft Cloud or its designated person(s). The terms of the exclusive purchase option agreement signed amongst Yunxiang Zhisheng, Kingsoft Cloud Information and its Nominee Shareholders are the same as the terms described above. Exclusive Consultation and Technical Services Agreements Pursuant to the exclusive consultation and technical services agreement between Beijing Kingsoft Cloud and Zhuhai Kingsoft Cloud, Beijing Kingsoft Cloud has the sole and exclusive right to provide Zhuhai Kingsoft Cloud consulting services and technical services. Without the prior written consent of Beijing Kingsoft Cloud, Zhuhai Kingsoft Cloud may not directly or indirectly accept any services subject to the exclusive consultation and technical services agreement from any third party, while Beijing Kingsoft Cloud has the right to designate any party to provide such services. Zhuhai Kingsoft Cloud will pay Beijing Kingsoft Cloud a service fee periodically which is adjustable at the sole discretion of Beijing Kingsoft Cloud. The exclusive consultation and technical services agreement will remain effective for 20 years unless both parties agree to terminate the agreement. The agreement can also be renewed at the discretion of Beijing Kingsoft Cloud. The terms of the exclusive consultation and technical services agreement signed between Yunxiang Zhisheng and Kingsoft Cloud Information are the same as the terms described above, except that the agreement will continuously remain effective unless both parties agree to terminate the agreement. Equity Pledge Agreements Pursuant to the equity pledge agreement amongst Beijing Kingsoft Cloud, Zhuhai Kingsoft Cloud and its Nominee Shareholders, the Nominee Shareholders have pledged all of their equity interests in Zhuhai Kingsoft Cloud to Beijing Kingsoft Cloud to guarantee performance of their obligations under the Contractual Agreements described above. During the term of the equity pledge agreement, Beijing Kingsoft Cloud has the right to receive all of Zhuhai Kingsoft Cloud’s dividends and profits distributed on the pledged equity. In the event of a breach by Zhuhai Kingsoft Cloud or any of its Nominee Shareholders of the contractual obligations under the equity pledge agreement, Beijing Kingsoft Cloud, as pledgee, will have the right to dispose of the pledged equity interests in Zhuhai Kingsoft Cloud and will have priority in receiving the proceeds from such disposal. Zhuhai Kingsoft Cloud and its Nominee Shareholders undertake that, without the prior written consent of Beijing Kingsoft Cloud, they will not transfer, or create or allow any encumbrance on the pledged equity interests. The equity pledge agreements will be in effect permanently until Zhuhai Kingsoft Cloud and its Nominee Shareholders have fulfilled all the obligations under the Contractual Agreements. The terms of the equity pledge agreement signed amongst Yunxiang Zhisheng, Kingsoft Cloud Information and its Nominee Shareholders are the same as the terms described above. In November and December 2019, the Contractual Agreements were supplemented by the following terms: a) Shareholder Voting Right Trust Agreements • The shareholder voting right trust agreements are valid as long as the Nominee Shareholders remain the shareholders of the VIEs. b) Exclusive Purchase Option Agreements • Without the prior consent of the WFOE, the VIEs and the Nominee Shareholders shall not: (i) amend the articles of association, (ii) increase or decrease the registered capital, (iii) sell or otherwise dispose of their assets or beneficial interest, (iv) create or allow any encumbrance on their assets or other beneficial interests, (v) extend any loans to third parties, (vi) enter into any material contracts (except those contracts entered into in the ordinary course of business), (vii) merge with or acquire any other persons or make any investments, or (viii) distribute dividends to their shareholders. • Any proceeds received by the Nominee Shareholders from the exercise of the option, distribution of profits or dividends, shall be remitted to the WFOE or their designated person(s), to the extent permitted under PRC laws. c) Exclusive Consultation and Technical Service Agreements • The exclusive consultation and technical services agreements will remain effective unless terminated by the WFOE at its sole discretion. d) Financial Support Undertaking Letter • Pursuant to the financial support undertaking letter, the Company is obligated and hereby undertakes to provide unlimited financial support to the VIEs, to the extent permissible under the applicable PRC laws and regulations, whether or not any such operational loss is actually incurred. The Company will not request repayment of the loans or borrowings if the VIEs or its Nominee Shareholders do not have sufficient funds or are unable to repay. e) Resolutions of all Shareholders and resolution of the Board of Directors of the Company • The Shareholders and the Company’s Board of Directors resolved that the rights under the Shareholder Voting Right Trust Agreements and the Exclusive Purchase Option Agreements were assigned to the Board of Directors of the Company or any officer authorized by the Board of Directors. As a result, the power and the rights pursuant to the shareholder voting right trust agreements have since been effectively reassigned to the Company which has the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance. The Company is also obligated to absorb the expected losses of the VIEs through the financial support as described above. Therefore, the Company has replaced the WFOE as the primary beneficiary of the VIEs since December 2019. As the VIEs were subject to indirect control by the Company through the WFOE immediately before and direct control immediately after the Contractual Agreements were supplemented, the change of the primary beneficiary of the VIEs was accounted for as a common control transaction based on the carrying amount of the net assets transferred. In the opinion of the Company’s legal counsel, (i) the ownership structure relating to the VIEs complies with current PRC laws and regulations; (ii) the Contractual Agreements with the VIEs and the Nominee Shareholders are valid, binding and enforceable on all parties to these Contractual Agreements and do not violate current PRC laws or regulations; and (iii) the resolutions are valid in accordance with the articles of association of the Company and Cayman Islands Law. However, uncertainties in the PRC legal system could cause the relevant regulatory authorities to find the current Contractual Agreements and businesses to be in violation of any existing or future PRC laws or regulations and could limit the Company’s ability to enforce its rights under these contractual arrangements. Furthermore, the Nominee Shareholders of the VIEs may have interests that are different from those of the Company, which could potentially increase the risk that they would seek to act contrary to the terms of the Contractual Agreements with the VIEs. In addition, if the Nominee Shareholders will not remain the shareholders of the VIEs, breach, or cause the VIEs to breach, or refuse to renew the existing Contractual Arrangements the Company has with them and the VIEs, the Company may not be able to effectively control the VIEs and receive economic benefits from them, which may result in deconsolidation of the VIEs. In addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future PRC laws or regulations, the Company may be subject to penalties, including but not be limited to, revocation of business and operating licenses, discontinuing or restricting business operations, restricting the Company’s right to collect revenues, temporary or permanent blocking of the Company’s internet platforms, restructuring of the Company’s operations, imposition of additional conditions or requirements with which the Company may not be able to comply, or other regulatory or enforcement actions against the Company that could be harmful to its business. The imposition of any of these or other penalties could have a material adverse effect on the Company’s ability to conduct its business. 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 2020 2021 2021 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 1,429,508 2,209,647 346,742 Restricted cash — 89,704 14,077 Accounts receivable, net of allowance for credit losses of RMB 15,745 RMB 30,082 2,258,313 3,170,860 497,577 Prepayments and other assets 630,121 907,350 142,383 Amounts due from related parties 204,275 184,137 28,895 Amounts due from subsidiaries of the Group 1,631,592 2,157,428 338,547 Total current assets 6,153,809 8,719,126 1,368,221 Non-current Property and equipment, net 1,727,620 2,157,093 338,495 Intangible assets, net 14,980 93,662 14,698 Prepayments and other assets 9,978 27,036 4,243 Goodwill — 64,082 10,056 Equity investments 86,251 162,244 25,460 Amounts due from related parties 4,712 4,712 739 Operating lease right-of-use 210,338 184,908 29,016 Total non-current 2,053,879 2,693,737 422,707 Total assets 8,207,688 11,412,863 1,790,928 Current liabilities Accounts payable 2,013,428 2,733,487 428,944 Accrued expenses and other liabilities 521,307 1,208,868 189,698 Short-term bank loans 278,488 1,348,166 211,557 Long-term bank loan, current portion 74,351 — — Income tax payable 45 1,026 161 Amounts due to related parties 56,795 797,731 125,181 Current operating lease liabilities 56,261 70,672 11,090 Amounts due to subsidiaries of the Group 903,879 1,597,946 250,753 Total current liabilities 3,904,554 7,757,896 1,217,384 Non-current Deferred tax liabilities 29 — — Other liabilities 7,020 6,975 1,095 Non-current 146,012 121,057 18,996 Amounts due to related parties — 472,882 74,206 Amounts due to subsidiaries of the Group 7,367,267 7,486,525 1,174,799 Total non-current 7,520,328 8,087,439 1,269,096 Total liabilities 11,424,882 15,845,335 2,486,480 For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Revenues 3,882,352 6,377,158 7,972,143 1,251,003 Net loss (970,344 ) (922,908 ) (1,556,904 ) (244,312 ) Net cash used in operating activities (785,378 ) (833,479 ) (958,748 ) (150,448 ) Net cash used in investing activities (836,981 ) (1,471,637 ) (843,586 ) (132,377 ) Net cash generated from financing activities 1,618,102 2,802,088 2,612,563 409,968 The carrying amounts of the assets, liabilities and the results of operations of the VIEs and their subsidiaries are presented in aggregate due to the similarity of the purpose and design of the VIEs and their subsidiaries, the nature of the assets in these VIEs and their subsidiaries and the type of the involvement of the Company in these VIEs and their subsidiaries. The revenue-producing assets that are held by the VIEs and their subsidiaries comprise mainly electronic equipment, and data center machinery and equipment. The VIEs and their subsidiaries contributed an aggregate of %, % and % of the Group’s consolidated revenue for the years ended December , , and , respectively, after elimination of inter-entity transactions. As of December 31, 2020, there was no pledge or collateralization of the VIEs’ and their subsidiaries’ assets that can only be used to settle obligations of the VIEs and their subsidiaries. As of December 31, 2021, other than RMB 750,000 (US$ 117,691 ) of VIEs’ subsidiaries’ electronic equipment that was secured for the loans borrowed from Xiaomi Group ( n RMB 89,704 (US$ 14,077 ) of a VIE’s subsidiary’s restricted cash that was secured for certain payables to suppliers and to guarantee |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). Principles of consolidation The consolidated financial statements of the Group include the financial statements of the Company, its subsidiaries, the VIEs, and subsidiaries of the VIEs for which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated upon consolidation. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in the Group’s consolidated financial statements include, but are not limited to, allowance for credit losses or allowance for doubtful accounts for accounts receivable, contract assets and amounts due from related parties, measurement of operating lease right-of-use Foreign currency The Group’s financial information is presented in Renminbi (“RMB”). The functional currency of the Company and the Company’s subsidiaries located in the U.S. is U.S. dollars (“US$”). The functional currency of the Company’s subsidiaries and the VIEs and VIEs’ subsidiaries located in the PRC is Renminbi (“RMB”). The functional currencies of the Company’s subsidiaries located in Japan and Hong Kong are Japanese Yen (“Yen”) and Hong Kong d Transactions denominated in foreign currencies are re-measured re-measured Non-monetary re-measured Convenience translation Amounts in U.S. dollars are presented for the convenience of the reader and are translated at the noon buying rate of RMB6.3726 per US$1.00 on December 31, 2021 in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and time deposits or other highly liquid investments placed with banks or other financial institutions which are unrestricted as to withdrawal or use and have original maturities of less than three months. Restricted cash Restricted cash mainly represents the cash reserved in escrow accounts for purchase consideration in relation to a business acquisition, cash secured for certain payables to suppliers and advances paid by certain customers to guarantee the Group’s performance under certain revenue contracts. Short-term investments The Group’s short-term investments comprise primarily of cash deposits at fixed rates with original maturities of greater than three months, but less than 12 months. Non-controlling interests A non-controlling interest to non-controlling interests. to non-controlling interests as “non-controlling interests” Business combinations The Group accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805, Business Combinations Update (“ASU”) No. 2021-08, Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers 2021-08”) Equity investments The Group’s equity investments are long-term investments in unlisted companies based in the PRC over which the Group neither has significant influence nor control through investment in common stock or in-substance Fair Value Measurements and Disclosures any The Group makes a qualitative assessment of whether the equity investments are impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the entity has to estimate the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the entity has to recognize an impairment loss in the statements of comprehensive loss equal to the difference between the carrying value and fair value. As of December 31, 2020 and 2021, the carrying amount s were including and accumulated upward adjustment of RMB 14,301 and RMB96,793 (US$15,189 ), respectively. The Group recognized RMB and RMB (US$ of and RMB (US$ ) of , net on the consolidated statements of comprehensive loss for the , and , respectively . In 2021, the Group: i) acquired equity interest of a company engaged in providing technology services ; and disposed of , net Fair value measurements Financial instruments of the Group primarily include cash and cash equivalents, restricted cash, short-term investments, accounts receivable and contract assets, equity investments, accounts payable, purchase consideration payable, certain other liabilities, amounts due from and due to related parties and bank loans. For equity investments, the Group elected to use the measurement alternative to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Group, with the assistance of an independent third-party valuation firm, determined the estimated fair value of its equity investments using the alternative measurement. The carrying amounts of the bank loans approximate to their fair values due to the fact that the related interest rates approximate the interest rates currently offered by financial institutions for similar debt instruments of comparable maturities. The Group measures its purchase consideration payable at fair value on a recurring basis. The fair value of purchase consideration payable is estimated by discounting cash flows using interest rates currently available for similar debts instruments of comparable maturities (Level 2 fair value measurement). The Group applies ASC 820 in measuring fair value. ASC 820 defines fair value, establishes a framework for measuring fair value and requires disclosures to be provided on fair value measurement. The carrying amounts of the remaining financial instruments approximate to their fair values because of their short-term maturities. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Include other inputs that are directly or indirectly observable in the marketplace. Level 3—Unobservable inputs which are supported by little or no market activity. ASC urrently Adoption of ASC 326 On January 1, 2021, the Group adopted ASC 326, Credit Losses Accounts receivable and contract assets, net Prior to the adoption of ASC 326, accounts receivable are recognized and carried at original invoiced amount less an allowance for any potential uncollectible amounts. An allowance for doubtful accounts is recorded when collection of the full amount is no longer probable. In evaluating the collectability of receivable balances, the Group considers specific evidence including the aging of the receivable, the customer’s payment history, its current creditworthiness and current economic trends. Accounts receivable are written off after all collection efforts have ceased. Upon adoption of ASC 326, the Group maintains an allowance for credit losses in accordance with ASC 326 and records the allowance for credit losses as an offset to accounts receivable and contract assets, and the estimated credit losses charged to the allowance is classified as “General and administrative expenses” in the consolidated statements of comprehensive loss. The Group assesses collectability by reviewing accounts receivable and contract assets on a collective basis where similar characteristics exist and on an individual basis when the Group identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Group considers historical collectability based on past due status, the age of the accounts receivable and contract assets balances, credit quality of the Group’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the Group’s ability to collect from customers. Property and equipment, net Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated Useful Life Electronic equipment 3–4 years Office equipment and fixtures 5 years Data center machinery and equipment 10 years Building 50 years Repair and maintenance costs are charged to expense s Direct costs that are related to the construction of property and equipment, and incurred in connection with bringing the assets to their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment, and the depreciation of these assets commences when the assets are ready for their intended use. Intangible assets Intangible assets are carried at cost less accumulated amortization and any recorded impairment. Intangible assets acquired in a business combination were recognized initially at fair value at the date of acquisition. Intangible assets with finite useful lives are amortized using a straight-line method of amortization that reflects the estimated pattern in which the economic benefits of the intangible assets are to be consumed. The estimated useful lives for the intangible assets are as follows: Category Estimated Useful Life Customer relationships 6 years Patents and technologies 6-10 Trademarks and domain names 10 years Software and copyrights 3–10 years Others 3 years If an intangible asset is determined to have an indefinite life, it should not be amortized until its useful life is determined to be no longer indefinite. As of December 31, 2020 and 2021, the Group did not have any intangible assets with indefinite lives Impairment of long-lived assets The Group evaluates its long-lived assets for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of long-lived assets in an asset group may not be fully recoverable. When these events occur, the Group evaluates the recoverability of long-lived assets by comparing the carrying amount of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Group recognizes an impairment loss based on the excess of the carrying amount of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. Significant assumptions used in the future undiscounted cash flows of the asset group included revenue growth rates and gross Segment reporting In accordance with ASC 280-10, Segment Reporting: Overall Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets acquired in a business combination. Goodwill is allocated to the reporting units of the Group that are expected to benefit from the synergies of the business combination based on the estimated fair value of these reporting units at the date of acquisition. A reporting unit is defined as an operating segment or one level below an operating segment referred to as a component. The Group determines reporting units by first identifying its operating segments, and then assesses whether any components of these segments constituted a business for which discrete financial information is available and where the segment manager regularly reviews the operating results of that component. As of December 31, 2021, the Group has two reporting units, consisting of Cloud service and solutions and Cloud-based digital solution and services. Because, except for those two reporting units identified, other components below the consolidated level either did not have discrete financial information or their operating results were not regularly reviewed by the segment manager. The Group assesses goodwill for impairment in accordance with ASC 350-20, Intangibles—Goodwill and Other: Goodwill (“ASC 350-20”), which requires goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events. The Group has the option to assess qualitative factors first to determine whether it is necessary to perform the quantitative test in accordance with ASC 350-20. In the qualitative assessment, the Group considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations to assess any significant changes in each reporting unit’s fair value and carrying value since the most recent date a fair value measurement was performed. If the Group believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The Group adopted 2017-04, Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), on a prospective basis on January 1, 2021, and compares the fair value of the reporting unit with its carrying amount, including goodwill. ASU 2017-04 simplifies the accounting for goodwill impairment by eliminating step two from the goodwill impairment test. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to that excess. No impairment of goodwill was recorded for the year ended December 31, 2021. Revenue recognition The Group applies the five-step model outlined in ASC 606, Revenue from Contracts with Customers Revenue is allocated to each performance obligation based on its standalone selling price. The Group generally determines standalone selling prices based on observable prices. If the standalone selling price is not observable through past transactions, the Group estimates the standalone selling price based on multiple factors, including, but not limited to, historical discounting trends for services, gross margin objectives, internal costs, and industry technology lifecycles. Timing of revenue recognition may differ from the timing of invoicing to customers. For certain revenue contracts, customers are required to pay before the services are delivered to the customer. The Group recognizes a contract asset or a contract liability in the consolidated balance sheets, depending on the relationship between the entity’s performance and the customer’s payment. Contract liabilities represent the excess of payments received as compared to the consideration earned and are reflected in “accrued expenses and other liabilities” in the Group’s consolidated balance sheets. Contract assets primarily relate to the Group’s rights to consideration for work completed in relation to its services performed but not billed at the reporting date, and are reflected in “prepayments and other assets” in the Group’s consolidated balance sheets. The contract assets are transferred to the receivables when the rights become unconditional. Using the practical expedient in ASC 606, the Group does not adjust the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between the transfer of the promised good or service to the customer and when the customer pays for that good or service will be one year or less. Pursuant to ASC 606-10-32-2A, Public cloud services The Group provides integrated cloud-based services including cloud computing, storage and delivery. The nature of the Group’s performance obligation is a single performance obligation to stand ready to provide an unspecified quantify of integrated cloud-based services each day throughout the contract period. The Group uses monthly utilization records, an output measure, to recognize revenue over time as it most faithfully depicts the simultaneous consumption and delivery of services. At the end of each month, the transaction consideration is fixed based on utilization records and no variable consideration exists. Enterprise cloud services The Group provides comprehensive customized cloud-based and enterprise digital solutions, which are typically completed within twelve months (“Solutions”). The components within the Solutions are not distinct within the context of the contract because they are considered highly interdependent and the customer can only benefit from these components in conjunction with one another as a two-way was The Group also provides enterprise digital services. The series of enterprise digital services are substantially the same from day to day, and each day of the service is considered to be distinct and separately identifiable as it benefits the customer daily. Further, the uncertainty related to the service consideration is resolved on a daily basis as the Group satisfies its obligation to perform enterprise digital service daily with enforceable right to payment for performance completed to date. Thus, revenue is recognized as service is performed and the customer simultaneously receives and consumes the benefits from the service daily. Cost of revenue Cost of revenues primarily includes bandwidth and internet data center costs, depreciation expense of electronic equipment, data center machinery and equipment, salaries and benefits for employees directly involved in revenue generation activities, and other expenses directly attributable to the provision of services. Research and development Research and development expenses primarily consist of salaries and benefits for research and development personnel, and third party service provider costs. The Group expenses research and development costs as they are incurred. Advertising expenditures Advertising costs are expensed when incurred and are included in sales and marketing expenses in the consolidated statements of comprehensive loss. For the years ended December 31, 2019, 2020 and 2021, the advertising expenses were approximately RMB29,271, RMB15,348 and RMB24,070 (US$3,777), respectively. Government grants Government grants primarily consist of financial grants received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. There are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. Government grants of non-operating non-operating Leases The Group adopted ASU No. 2016-02, Leases (Topic 842) The Group determines if an arrangement is a lease or contains a lease at lease inception. For operating leases, the Group recognizes a right-of-use Comprehensive loss Comprehensive loss is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Among other disclosures, ASC 220, Comprehensive Income Income taxes The Group follows the liability method of accounting for income taxes in accordance with ASC 740, Income Taxes more-likely-than-not The Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as income tax expense. In accordance with the provisions of ASC 740, the Group recognizes in its consolidated financial statements the impact of a tax position if a tax return position or future tax position is “more likely than not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Group’s estimated liability for unrecognized tax benefits that, if any, will be recorded in “other non-current Share-based compensation The Group applies ASC 718, Compensation—Stock Compensation The Group uses the accelerated method for all awards granted with graded vesting based on service conditions, and elected to account for forfeitures as they occur. The Group elected to account for forfeitures as they occur. The Group, with the assistance of an independent third party valuation firm, determined the fair value of the share-based awards granted to employees. The binomial option pricing model was applied in determining the estimated fair value of the options granted to employees. Loss per share In accordance with ASC 260, Earnings Per Share the two-class two-class two-class Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of the ordinary shares issuable upon the conversion of the Company’s convertible preferred shares and redeemable convertible preferred shares using the if-converted Employee benefit expenses All eligible employees of the Group are entitled to staff welfare benefits including medical care, welfare grants, unemployment insurance and pension benefits through a PRC government-mandated multi-employer defined contribution plan. The Group is required to accrue for these benefits based on certain percentages of the qualified employees’ salaries. The Group is required to make contributions to the plans out of the amounts accrued. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Group’s obligations are limited to the amounts contributed. The Group has no further payment obligations once the contributions have been paid. The Group recorded employee benefit expenses of RMB155,848, RMB126,784 and RMB310,126 (US$48,666) for the years ended December 31, 2019, 2020 and 2021, respectively. Impact of COVID-19 For the year s COVID-19 COVID-19’s COVID-19 Recent accounting pronouncements In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. |
Concentration of Risks
Concentration of Risks | 12 Months Ended |
Dec. 31, 2021 | |
Concentration of Risk [Abstract] | |
Concentration of Risks | 3. CONCENTRATION OF RISKS Concentration of credit risk Assets that potentially subject the Group to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, short-term investments, accounts receivable and contract assets. The Group expects that there is no significant credit risk associated with cash and cash equivalents, restricted cash and short-term investments, which were held by reputable financial institutions in the jurisdictions where the Company, its subsidiaries, the VIEs and the subsidiaries of VIEs are located. The Group believes that it is not exposed to unusual risks as these financial institutions have high credit quality. Accounts receivable and contract assets are typically unsecured and are derived from revenues earned from reputable customers. As of December 31, 2020 and 2021, the Group had two customers, with accounts receivable balances exceeding 10 % of the total contract assets balance. The risks with respect to accounts receivable and contract assets are mitigated by credit evaluations the Group performs on its customers and its ongoing monitoring process of outstanding balances. Business, customer, political, social and economic risks The Group participates in a dynamic and competitive high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Group’s future financial position, results of operations or cash flows: changes in the overall demand for services; competitive pressures due to existing competitors; and new trends in new technologies and industry standards; control of telecommunication infrastructures by local regulators and industry standards; changes in certain strategic relationships or customer relationships; regulatory considerations; and risks associated with the Group’s ability to attract and retain employees necessary to support its growth. The Group’s operations could be adversely affected by significant political, economic and social uncertainties in the PRC. Revenue from three Revenue from t s ed Currency convertibility risk The Group transacts a majority of its business in RMB, which is not freely convertible into foreign currencies. On January 1, 1994, the PRC government abolished the dual rate system and introduced a single rate of exchange as quoted daily by the People’s Bank of China (“PBOC”). However, the unification of the exchange rates does not imply that the RMB may be readily convertible into United States dollars or other foreign currencies. All foreign exchange transactions continue to take place either through the PBOC or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC. Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. Additionally, the value of the RMB is subject to changes in central government policies and international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market. Foreign currency exchange rate risk From July 21, 2005, the RMB is permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies. For RMB against U.S. dollar, there was depreciation of approximately 1.3% during the year ended December 31, and 2.3% and 2021 To the extent that the Group needs to convert the U.S. dollar into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against the U.S. dollar would have an adverse effect on the RMB amount the Group would receive from the conversion. Conversely, if the Group decides to convert RMB into the U.S. dollar for the purpose of making payments for dividends on ordinary shares, strategic acquisitions or investments or other business purposes, appreciation of the U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Group. In addition, a significant depreciation of the RMB against the U.S. dollar may significantly reduce the U.S. dollar equivalent of the Group’s earnings or losses. |
Business Combination
Business Combination | 12 Months Ended |
Dec. 31, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Combinations | 4. BUSINESS COMBINATION Acquisition of Shenzhen Yunfan In March 2021, the Group completed the acquisition of 100% equity interest in Shenzhen Yunfan Acceleration Technology Co., Ltd. and its subsidiary (collectively, “Shenzhen Yunfan”). Shenzhen Yunfan is mainly engaged in providing content distribution, acceleration and other cloud-related IaaS and PaaS edge computing solutions, and the acquisition is expected to enhance the Group’s expertise in public cloud services. The results of Shenzhen Yunfan have been included in the Group’s consolidated financial statements since April 2021. The total cash purchase price consideration was RMB126,400 (US$19,835 ). The Group recognized RMB586 (US$92) of net assets acquired excluding intangible assets, RMB77,000 (US$12,083) of intangible assets which comprised of technology, trademark and domain name, Acquisition of Beijing Yunshu In April 2021, the Group completed the acquisition of 86.21% equity interest in Beijing Yunshu Xunlian Technology Co., Ltd. (“Beijing Yunshu”), which the Group expected to enhance the Group’s public cloud services. The total cash purchase price was RMB7,034 (US$1,104) contingent consideration. The results of Beijing Yunshu’s operations have been included in the Group’s consolidated financial statements since April 2021. Acquisition of Camelot In September 2021, the Group completed the acquisition of Camelot. Camelot is mainly engaged in enterprise digital solutions and enterprise digital services, and the acquisition is expected to further develop the Group’s enterprise cloud business. The results of Camelot have been included in the consolidated financial statements of the Group since September 2021. The total purchase consideration was RMB5,290,553 (US$830,203), which consisted of cash consideration of RMB751,974 (US$118,001) and equity consideration of RMB4,538,579 (US$712,202). Goodwill recognized represents the expected synergies from integrating Camelot with the Group’s existing enterprise cloud business and is not tax deductible. The table below summarize s Camelot RMB US$ Total fair value of purchase consideration 5,290,553 830,203 Less: Cash and cash equivalents 618,439 97,047 Restricted cash 1,126 177 Accounts receivable and other assets 940,297 147,553 Property and equipment, net 12,224 1,918 Intangible assets: Customer relationship 620,100 97,307 Trademarks 474,000 74,381 Copyrights 34,100 5,351 Deferred tax assets 59,060 9,268 Deferred tax liabilities (268,490 ) (42,132 ) Accounts payable and other liabilities (878,885 ) (137,916 ) Non-controlling (882,451 ) (138,476 ) Goodwill 4,561,033 715,725 The purchase price allocation of Camelot is substantially complete with the exception of, primarily, certain tax matters. Any measurement period adjustments resulting from the finalization of the Group’s purchase price allocation are not expected to be material. The valuations used in the purchase price allocation for the acquisitions were determined by the Group with the assistance of independent third-party valuation firms using the income approach (a Level 3 measurement). Significant assumptions used in the valuation of intangible assets included projected revenue growth rates, operating margin, customer attrition rates, royalty rates and discount rate. Non-controlling non-controlling The actual results of operation after the acquisition date and pro forma results of operations for the acquisitions have not been presented because the effects were not material. |
Revenues
Revenues | 12 Months Ended |
Dec. 31, 2021 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Revenues | 5. REVENUES The following table presents the Group’s revenues from contracts with customers disaggregated by material revenue category: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Public cloud services recognized over time 3,458,843 5,166,851 6,159,085 966,495 Enterprise cloud services: Recognized at a point in time 485,991 1,368,544 2,159,869 338,931 Recognized over time 317 4,145 737,948 115,800 486,308 1,372,689 2,897,817 454,731 Others: Recognized at a point in time 11,202 36,611 1,208 190 Recognized over time — 1,156 2,674 419 11,202 37,767 3,882 609 3,956,353 6,577,307 9,060,784 1,421,835 The transaction prices allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at December 31, 2021 are primarily related to enterprise cloud services, which are as follows: RMB US$ Within one year 27,852 4,371 More than one year 23,505 3,688 Total 51,357 8,059 Contract balances Contract liabilities relate to contracts where the Group received payments but has not yet satisfied the related performance obligations. The advance consideration received from customers for the services is a contract liability until services are provided to the customer. For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Revenue recognized from amounts included in contract liabilities at the beginning of the period 22,782 37,550 112,221 17,610 |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2021 | |
Receivables, Net, Current [Abstract] | |
Accounts Receivable, Net | 6. ACCOUNTS RECEIVABLE, NET As at December 31 2020 2021 2021 RMB RMB US$ Accounts receivable 2,350,641 3,603,240 565,427 Allowance for credit losses (15,770 ) (32,265 ) (5,063 ) Accounts receivable, net 2,334,871 3,570,975 560,364 The movements of the allowance for credit losses were as follows: As at December 31 2019 2020 2021 2021 RMB RMB RMB US$ Balance at beginning of the year 2,249 22,894 15,770 2,475 Adoption of ASC 326* — — 5,684 892 Provision for expected credit losses 61,687 44,695 121,731 19,102 Write-offs charged against the allowance (41,042 ) (44,096 ) (101,202 ) (15,881 ) Recoveries during the year — (7,723 ) (9,718 ) (1,525 ) Balance at end of the year 22,894 15,770 32,265 5,063 * Starting from January 1, 2021, the Group adopted ASC 326, which amends previously issued the |
Prepayments and Other Assets
Prepayments and Other Assets | 12 Months Ended |
Dec. 31, 2021 | |
Prepayments and Other Assets [Abstract] | |
Prepayments and Other Assets | 7. PREPAYMENTS AND OTHER ASSETS As at December 31 2020 2021 2021 RMB RMB US$ Current portion: Prepayments to suppliers 78,621 162,528 25,504 Contract costs* 13,882 145,628 22,852 Contract assets, net** — 550,068 86,318 VAT prepayments 470,567 619,391 97,196 Interest receivable 14,204 21,463 3,368 Individual income tax receivable*** (Note 12) 231,377 48,949 7,681 Others 78,435 138,994 21,811 887,086 1,687,021 264,730 Non-current Prepayments for electronic equipment 8,978 25,388 3,984 Others 2,846 3,678 577 11,824 29,066 4,561 * Represents costs incurred in advance of revenue recognition arising from direct and incremental cost s ** Represents the Group’s rights to consideration for work completed in relation to its services performed but not billed at the report date. The increase in contract assets as compared to December 31, 2020 is a result of a business acquisition. n and RMB509 (US$80) , respectively, *** Represents amounts due from certain employees related to their individual income taxes (“IIT”) arising from exercise and vesting of share-based awards. |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | 8. PROPERTY AND EQUIPMENT, NET As at December 31 2020 2021 2021 RMB RMB US$ Electronic equipment 4,164,384 5,123,149 803,934 Office equipment and fixtures 9,759 15,462 2,426 Data center machinery and equipment 135,068 144,328 22,648 Building — 15,768 2,474 Construction in progress 5,454 147,817 23,196 4,314,665 5,446,524 854,678 Less: accumulated depreciation (2,357,875 ) (3,082,421 ) (483,699 ) Property and equipment, net 1,956,790 2,364,103 370,979 Depreciation expense for the years ended December 31, 2019, 2020 and 2021 was RMB601,730, RMB750,375 and RMB783,305 (US$122,918), respectively. |
Intangible Assets, Net
Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net | 9. INTANGIBLE ASSETS, NET As at December 31 2020 2021 2021 RMB RMB US$ Customer relationships — 620,100 97,307 Patents and technologies — 67,900 10,655 Trademarks and domain names 7,020 497,098 78,006 Software and copyrights 20,807 71,752 11,259 Others 7,469 3,637 571 35,296 1,260,487 197,798 Less: accumulated amortization Customer relationships — (32,637 ) (5,121 ) Patents and technologies — (8,138 ) (1,277 ) Trademarks and domain names (3,035 ) (20,722 ) (3,252 ) Software and copyrights (10,268 ) (26,692 ) (4,189 ) Others (5,420 ) (2,531 ) (397 ) (18,723 ) (90,720 ) (14,236 ) Intangible assets, net 16,573 1,169,767 183,562 Amortization expense of intangible assets for the years ended December 31, 2019, 2020 and 2021 was RMB 2,851 , RMB7,663 and RMB72,299 (US$ 11,345 ), respectively. As of December 31, 2021, estimated amortization expense of the existing intangible assets for each of the next five years and thereafter is as follows: RMB US$ 2022 171,065 26,844 2023 170,140 26,699 2024 168,476 26,438 2025 166,454 26,120 2026 and thereafter 493,632 77,461 Total 1,169,767 183,562 |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | 10. GOODWILL The changes in the carrying amount of goodwill were as follows: RMB Balance as of December 31, 2020 — Goodwill acquired in business combinations (Note 4) 4,625,115 Balance as of December 31, 2021 4,625,115 Balance as of December 31, 2021, in US$ 725,781 RMB3,669,031 of goodwill was allocated to the Cloud service and solutions reporting unit and of goodwill was allocated to the Cloud-based digital solution and services reporting unit. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | 11. LEASES The Group’s operating leases mainly related to office space and buildings. For leases with terms greater than 12 months, the Group records the related assets and lease liabilities at the present value of lease payments over the lease term. Certain leases include rental-free periods and rental escalation clause, which are factored into the Group’s determination of lease payments when appropriate. As of December 31, 2020 and 2021, the Group had no finance leases. As of December 31, 2020 and 2021, the weighted average remaining lease term was 9.7 years and 8.3 years and the For the year s s ), respectively The undiscounted future minimum payments under the Group’s operating lease liabilities and reconciliation to the operating lease liabilities recognized on the consolidated balance sheets were RMB US$ 2022 110,472 17,335 2023 59,238 9,296 2024 50,526 7,929 2025 29,347 4,605 2026 and thereafter 72,078 11,311 Total future lease payments 321,661 50,476 Less: imputed interest (54,782 ) (8,597 ) Total lease liability balance 266,879 41,879 |
Accrued Expenses and Other Liab
Accrued Expenses and Other Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Liabilities | 12. ACCRUED EXPENSES AND OTHER LIABILITIES As at December 31 2020 2021 2021 RMB RMB US$ Current portion: Customer advances* 191,357 378,957 59,467 Salary and welfare payable 117,506 600,775 94,275 Purchase of property and equipment 181,038 759,391 119,165 Accrued expenses 44,559 116,021 18,206 Other tax and surcharges payable 25,227 91,287 14,325 Deferred government grants 10,321 8,488 1,332 Purchase consideration payable** — 148,038 23,230 Individual income tax payable*** (Note 7) 231,377 48,949 7,681 Others**** 43,989 71,934 11,288 845,374 2,223,840 348,969 Non-current Deferred government grants 7,020 6,975 1,095 Purchase consideration payable** — 1,180,470 185,242 Others**** 33,558 45,232 7,097 40,578 1,232,677 193,434 * The amount represents contract liabilities for the ** The amount represents the remaining . A total of RMB921,496 (US$144,603) will be settled by the Company’s *** Represents IIT payable to the tax bureau on behalf of certain employees related to their exercise and vesting of share-based awards. **** In July 2020, the Company received a reimbursement of US$7,469 (equivalent to RMB47,597) from the depository for the establishment and maintenance of the ADS program (“ADS Reimbursement”). As of December 31, 2020 and 2021, RMB10,083 and RMB9,836 (US$1,543) were included in the current portion, and RMB33,558 and RMB22,989 (US$3,607) were included in the non-current |
Bank Loans
Bank Loans | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Bank Loans | 13. BANK LOANS As at December 31 2020 2021 2021 RMB RMB US$ Short-term bank loans 278,488 1,348,166 211,557 Long-term third-party bank loan guaranteed by a related party (Note 20): Current portion 74,351 — — 352,839 1,348,166 211,557 The weighted average interest rate for the outstanding short-term bank loans as of December 31, 2020 and 2021 was 4.28% and %, respectively. There are no commitment fees and conditions under which lines may be withdrawn associated with the Group’s unused facilities. |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Taxation | 14. TAXATION Enterprise income tax Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. Hong Kong The subsidiaries incorporated in Hong Kong are subject to income tax at the rate of 16.5% on the estimated assessable profits arising in Hong Kong. For the periods presented, the Group did not make any provisions for Hong Kong profit tax as the Group did not generate any assessable profits arising in Hong Kong at the end of each reporting period. Under the Hong Kong tax law, the subsidiaries in Hong Kong are exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends. China The Group’s PRC entities are subject to the statutory income tax rate of 25%, in accordance with the Enterprise Income Tax law (the “EIT Law”), which was effective since January 1, 2008. Certain subsidiaries of the Group being qualified as a High New Technology Enterprise (‘‘HNTE’’) are entitled to the preferential income tax rate of 15%. Dividends, interests, rent or royalties payable by the Group’s PRC entities to non-PRC non-resident non-PRC Loss before income taxes consists of: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ PRC (1,167,367 ) (1,095,015 ) (1,646,607 ) (258,388 ) Non-PRC 65,171 147,721 70,592 11,077 (1,102,196 ) (947,294 ) (1,576,015 ) (247,311 ) The current and deferred components of income tax expense appearing in the consolidated statements of comprehensive loss are as follows: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Current income tax expense 9,180 15,081 27,593 4,330 Deferred income tax benefit (177 ) (177 ) (11,852 ) (1,860 ) 9,003 14,904 15,741 2,470 The reconciliation of income tax expense computed using the PRC statutory tax rate to the actual income tax expense is as follows: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Loss before income tax (1,102,196 ) (947,294 ) (1,576,015 ) (247,311 ) Income tax computed at the PRC statutory tax rate of 25% (275,549 ) (236,824 ) (394,004 ) (61,828 ) Effect of tax holiday and preferential tax rates 11,493 (44,121 ) 7,083 1,111 Effect of different tax rates in different jurisdictions (11,626 ) 10,580 (1,681 ) (264 ) Other non-taxable (21,557 ) (35,454 ) (24,999 ) (3,923 ) Non-deductible 64,095 14,060 36,719 5,762 Share-based compensation costs 30,320 82,528 108,588 17,040 Research and development super deduction (94,401 ) (113,388 ) (146,639 ) (23,011 ) Withholding tax and others 9,180 11,581 9,552 1,499 Change in valuation allowance 259,031 399,756 434,056 68,113 True-up — (83,342 ) (3,474 ) (545 ) Tax rate change on deferred items 38,017 9,528 (9,460 ) (1,484 ) Income tax expense 9,003 14,904 15,741 2,470 Deferred tax The significant components of the Group’s deferred tax assets and liabilities are as follows: As at December 31 2020 2021 2021 RMB RMB US$ Deferred tax assets: Tax loss carried forward 1,454,702 1,841,192 288,923 Accrued expenses 56,111 235,737 36,992 Depreciation 4,990 7,082 1,111 Allowance for doubtful accounts 3,156 53,436 8,385 Government grant 6,175 4,266 669 Operating lease liabilities 56,706 63,781 10,009 Accrued interest 66,609 170,337 26,730 Others — 2,737 430 Less: valuation allowance (1,401,416 ) (1,881,873 ) (295,307 ) 247,033 496,695 77,942 Deferred tax liabilities: Operating lease right-of-use 54,658 57,300 8,992 One-time 191,107 337,564 52,970 Long-lived assets arising from business acquisitions 29 277,267 43,509 Others 1,268 22,655 3,555 247,062 694,786 109,026 The Group operates through several subsidiaries, VIEs and subsidiaries of VIEs and the valuation allowance is considered for each subsidiary, VIE and subsidiary of VIE on an individual basis. As of December 31, 2020 and 2021, the Group’s total deferred tax assets before valuation allowances were RMB1,648,449 and RMB2,378,568 (US$373,249), respectively. As of December 31, 2020 and 2021, the Group recorded valuation allowances of RMB1,401,416 and RMB1,881,873 (US$295,307), respectively, on its deferred tax assets that are sufficient to reduce the deferred tax assets to the amounts that are more-likely-than-not to As of December 31, 2021, the Group had net losses of approximately RMB7,485,149 (US$1,174,583) mainly deriving from entities in the PRC and Hong Kong. The tax losses in the PRC can be carried forward for five years to offset future taxable profit and the period was extended to ten years for entities that qualify as HNTE. The tax losses of entities in the PRC will expire between 2022 and 2026 and the tax losses of entities in the PRC that qualify as HNTE will expire between 2022 and 2031, if not utilized. The tax losses in Hong Kong can be carried forward without an expiration date. Unrecognized tax benefits As of December 31, 2020 and 2021, the Group had unrecognized tax benefits of RMB and RMB 59,049 (US$ 9,266 ) , and RMB (US$ ), respectively, were deducted against the deferred tax assets on tax losses carr ied RMB and RMB 15,954 (US$ 2,504 , tax-deduction As of December 31, 2020 and 2021, there are RMB and RMB 15,954 (US$ 2,504 ) of unrecognized tax benefits that if recognized would impact the annual effective tax rate, respectively. A reconciliation of the beginning and ending balances of unrecognized tax benefit is as follows: 2020 2021 2021 RMB RMB US$ Balance at beginning of the year — 12,613 1,979 Additions from the business acquisitions — 19,551 3,068 Additions based on tax positions related to current year 12,613 26,885 4,219 Balance at end of the year 12,613 59,049 9,266 For the periods presented, the Group did t record any penalties In general, the tax authorities have three to five years to conduct examinations of the tax filings of the Group’s subsidiaries. Accordingly, the subsidiaries’ tax years of 2018 through 2021 remain open to examination by the respective tax authorities. |
Convertible Preferred Shares an
Convertible Preferred Shares and Redeemable Convertible Preferred Shares | 12 Months Ended |
Dec. 31, 2021 | |
Convertible Preferred Stock And Redeemable Convertible Preferred Stock [Abstract] | |
Convertible Preferred Shares and Redeemable Convertible Preferred Shares | 15. CONVERTIBLE PREFERRED SHARES AND REDEEMABLE CONVERTIBLE PREFERRED SHARES As of January 1, 2020, several investors held in aggregate 458,116,000 o f Series A convertible preferred shares (“Series A Preferred Shares”), 153,603,600 of 185,665,192 o 842,738,782 of redeemable convertible preferred shares (“Series D Preferred Shares”) and 55,089,998 of Series D+ redeemable convertible preferred shares (the “Series D+ Preferred Shares”). On January 8, 2020, the Company received cash consideration of US$ 20,000 in exchange for issuing 22,035,999 Series D+ redeemable convertible preferred shares (the “Series D+ Preferred Shares”) (collectively, the “Preferred Shares”). Prior to the Company’s IPO, the Series A Preferred Shares were classified as permanent equity because they were not redeemable and the holders of the Series A Preferred Shares were entitled to receive the same form of consideration in the event of liquidation, dissolution or winding up of the Company, either voluntary or involuntary, or any deemed liquidation event as defined in the Company’s articles of association (“Liquidation Transaction”) as holders of equally and more subordinated equity instruments, specifically, the ordinary shareholders. The Series B Preferred Shares were classified as mezzanine equity as they may be redeemed upon the occurrence of conditional events such as a Liquidation Transaction and Kingsoft Corporation Limited’s voluntary refusal to approve the Series B Qualified IPO proposal. The Series C, Series D and Series D+ Preferred Shares were classified as mezzanine equity as they may be redeemed at the option of the holders on or after an agreed upon date outside the sole control of the Company. The Company chose to recognize changes in the redemption value as they occur and adjusted the carrying amount of the Series C, Series D and Series D+ Preferred Shares to equal the redemption value at the end of each reporting period. Upon completion of the Company’s IPO on May 8, 2020, all the Preferred Shares were converted on a one-for-one |
Share-based Payments
Share-based Payments | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payments | 16. SHARE-BASED PAYMENTS The Company has three share-based compensation plans under which awards may be granted to employees, namely, the Share Option Scheme , Share Option Scheme A summary of the activity under the Share Option Scheme is stated below: Number of options Weighted- average exercise price Weighted- average grant-date fair value Weighted- average remaining contractual term Aggregate intrinsic value US$ US$ Years US$ Outstanding, December 31, 2020 86,759,375 0.07 0.54 7.12 2.83 Granted 12,292,710 0.07 2.80 Forfeited (7,384,942 ) 0.07 1.38 Exercised (29,906,941 ) 0.07 0.71 Outstanding, December 31, 2021 61,760,202 0.07 0.87 6.61 0.98 Vested and expected to vest at December 31, 2021 61,760,202 0.07 0.87 6.61 0.98 Exercisable at December 31, 2021 28,437,976 0.07 0.46 5.22 0.98 The aggregate intrinsic value in the table above represents the difference between the fair value of the Company’s ordinary share as of December 31, 2021 and the option’s respective exercise price. Total intrinsic value of options exercised for the years ended December 31, 2019, 2020 and 2021 were RMB308,665, RMB906,120 and RMB79,224 (US$12,432), respectively. The total weighted average grant-date fair value of the share-based awards granted during the years ended December 31, 2019, 2020 and 2021 were US$0.65, US$1.16 and US$2.80 per option, respectively. The aggregate fair value of the share-based awards vested during the years ended December 31, 2019, 2020 and 2021 were RMB36,060, RMB44,135 and RMB51,892 (US$8,143), respectively. As of December 31, 2021, there was RMB119,582 (US$18,765) of total unrecognized employee share-based compensation expenses, related to unvested share-based awards, which are expected to be recognized over a weighted-average period of 1.41 years. Total unrecognized compensation cost may be adjusted for actual forfeitures occurring in the future. 2013 Share Award Scheme A summary of the activity for the restricted shares issued under the Share Award Scheme is stated below: Number of shares Weighted-average grant date fair value US$ Outstanding, December 31, 2020 53,602,560 0.76 Granted 29,076,828 2.04 Vested (19,020,640 ) 0.71 Forfeited (5,671,482 ) 1.61 Outstanding, December 31, 2021 57,987,266 1.32 Expected to vest at December 31, 2021 57,987,266 1.32 The total weighted average grant-date fair value of the share-based awards granted during the years ended December 31, 2019, 2020 and 2021 were US$0.74, US$0.78 and US$2.04 per share, respectively. The aggregate fair value of the share-based awards vested during the years ended December 31, 2019, 2020 and 2021 were RMB19,580, RMB91,683 and RMB90,121 (US$14,142 ) As of December 31, 2021, there was RMB315,641 (US$49,531) of total unrecognized share-based compensation expenses related to unvested share-based awards which are expected to be recognized over a weighted-average period of 1.86 years. The fair value of the restricted shares is the fair value of the Company’s ordinary shares at their respective grant dates, which was determined with the assistance of an independent third party valuer prior to the completion of the IPO and based on the price of the Company’s publicly traded shares after completion of the IPO. Total unrecognized compensation cost may be adjusted for actual forfeitures occurring in the future. A summary of the activity for the options issued under the Share Award Scheme is stated below: Number of options Weighted- average exercise price Weighted- average grant- date fair value Weighted- average remaining contractual term Aggregate intrinsic value US$ US$ Years US$ Outstanding, December 31, 2020 37,191,840 0.82 0.31 9.00 2.09 Exercised (8,081,820 ) 0.64 0.33 Forfeited (1,241,600 ) 0.87 0.30 Outstanding, December 31, 2021 27,868,420 0.83 0.31 7.99 0.22 Vested and expected to vest at December 31, 2021 27,868,420 0.83 0.31 7.99 0.22 Exercisable at December 31, 2021 12,566,340 0.80 0.30 8.00 0.25 The aggregate intrinsic value in the table above represents the difference between the fair value of the Company’s ordinary share as of December 31, 2021 and the option’s respective exercise price. No option was exercised during the year ended December 3 s $ The total weighted average grant-date fair value of the share-based awards granted during the years ended December 31, 2019, 2020 and 2021 were US$0.30, US$0.31 and US$0.31 per option, respectively. The aggregate fair value of the share-based awards vested during the years ended December 31, 2019, 2020 and 2021 were RMB nil, RMB15,981 and RMB16,192 (US$2,541), respectively. As of December 31, 2021, there was RMB12,898 (US$2,024) of total unrecognized employee share-based compensation expenses, related to unvested share-based awards, which are expected to be recognized over a weighted-average period of 1.16 years. Total unrecognized compensation cost may be adjusted for actual forfeitures occurring in the future. 2021 Share Award Scheme In November 2021, the Company adopted the was Others In connection with the acquisition of Shenzhen Yunfan, the Company restricted shares to certain employees that contain 1-3 years service vesting condition. As of December 31, 2021 of restricted shares were vested, and Fair value of share options The fair value of share options was determined using the binomial tree model, with the assistance from an independent third-party valuation firm. The binomial model requires the input of highly subjective assumptions, including the expected share price volatility and the exercise multiple. For expected volatility, the Company has made reference to historical volatility of several comparable companies. The exercise multiple was estimated as the average ratio of the stock price to the exercise price of when employees would decide to voluntarily exercise their vested options. As the Company did not have sufficient information of past employee exercise history, it has considered the statistics on exercise patterns of employees compiled by Huddart and Lang in Huddart, S., and M. Lang. 1996. “Employee Stock Option Exercises: An Empirical Analysis.” Journal of Accounting and Economics, vol. 21, no. 1 (February):5-43, The estimated fair values of the ordinary shares, at the share award grant dates, was determined with the assistance from an independent third-party valuation firm. The assumptions used to estimate the fair value of the share options granted are as follows: For the year ended December 31 2019 2020 2021 Risk-free rate 1.58%-1.80% 0.66%-1.84% 1.13%-1.62% Expected volatility range 37.40%-37.90% 37.3%-37.8% 36.28%-38.03% Exercise multiple 2.20-2.80 2.20-2.80 2.20-2.80 Fair market value per ordinary share as at valuation dates US$0.72-US$0.76 US$0.76-US$1.94 US$1.97-US$3.49 Share-based awards of Camelot Camelot subsidiary also has an equity incentive plan granting share-based awards that contain 3 year service vesting condition (the “Camelot Award”). The portion the acquisition-date fair-value-based measure of the Camelot Award that was attributable to precombination service was recognized as non-controlling interest and the portion relating to any remaining postcombination service was recognized as share based compensation expenses in the Group’s consolidated financial statements. As of , there was RMB (US$ ) of total unreco zed share-based compensation expenses related to these unvested share-based awards that will be recognized over approximately year s . The acquisition date fair value of each Camelot award is estimated on the date of modification using the binomial tree option pricing model with the following assumptions: 2021 Risk-free rate 0.21 % Expected volatility range 50.56 % Exercise multiple 2.20 Fair market value per Camelot’s ordinary share RMB23.00 The following table sets forth the amount of share-based compensation expense included in each of the relevant financial statement line items: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Cost of revenues 8,509 10,614 17,481 2,743 Selling and marketing expenses 37,808 62,270 72,594 11,392 General and administrative expenses 31,988 169,101 193,886 30,425 Research and development expenses 42,974 88,129 150,389 23,599 121,279 330,114 434,350 68,159 |
Restricted Net Assets
Restricted Net Assets | 12 Months Ended |
Dec. 31, 2021 | |
Other Restricted Assets [Abstract] | |
Restricted Net Assets | 17. RESTRICTED NET ASSETS The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s PRC subsidiaries only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s PRC subsidiaries. In accordance with the Regulations on Enterprises with Foreign Investment of China and its Articles of Association, the Company’s PRC subsidiaries, being a foreign-invested enterprise established in the PRC, are required to provide certain statutory reserves, namely the general reserve fund, enterprise expansion fund and staff welfare and bonus fund, all of which are appropriated from net profit as reported in its PRC statutory accounts. The Company’s PRC subsidiaries are required to allocate at least 10% of its annual after-tax In accordance with the PRC Company Laws, the Company’s PRC subsidiaries and the VIEs must make appropriations from their annual after-tax non-distributable are after-tax Under PRC laws and regulations, there are restrictions on the Company’s PRC subsidiaries and the VIEs with respect to transferring certain of their net assets to the Company either in the form of dividends, loans, or advances. Amounts of net assets restricted include paid in capital and statutory reserve funds of the Company’s PRC subsidiaries and the net assets of the VIEs and VIEs’ subsidiaries in which the Company has no legal ownership, totaling RMB3,438,575 ( ) S-X, Furthermore, cash transfers from the Company’s PRC subsidiaries to its subsidiaries outside of China are subject to PRC government control of currency conversion. Shortages in the availability of foreign currency may restrict the ability of the PRC subsidiaries and consolidated VIEs to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations. |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Loss Per Share | 18. LOSS PER SHARE Basic and diluted loss per share for each of the years presented are calculated as follows: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Numerator: Net loss attributable to Kingsoft Cloud Holdings Limited (1,111,199 ) (962,259 ) (1,588,712 ) (249,303 ) Accretion to redemption value of redeemable convertible preferred shares (49,725 ) (19,768 ) — — Net loss attributable to ordinary shareholders - basic and diluted (1,160,924 ) (982,027 ) (1,588,712 ) (249,303 ) Denominator: Weighted average number of ordinary shares outstanding - basic and diluted 889,521,200 2,400,874,197 3,441,729,444 3,441,729,444 Basic and diluted loss per share (1.31 ) (0.41 ) (0.46 ) (0.07 ) For the periods presented herein, the computation of basic loss per share using the two-class |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Shareholders' Equity | 19. SHAREHOLDERS’ EQUITY In February 2020, the Company entered into an arrangement to allow the senior executives to settle its due on demand interest bearing loans (“Settlement Arrangement”). Under the terms of the Settlement Arrangement, the Company will repurchase ordinary shares already issued to the executives for a cashless settlement of the outstanding loan amount including interest and related IIT. The number of ordinary shares to be repurchased is calculated by dividing the outstanding amount on settlement date by US$0.70 per share, which is below the estimated fair value per ordinary share of US$0.76 determined by the Company with the assistance of an independent appraiser. Therefore, there is no compensation expense to be recorded as a result of this repurchase. On February 29, 2020, the Company repurchased 5,475,254 ordinary shares at nil consideration from these senior executives in lieu of full settlement of the outstanding amount. On April 7, 2020, the Company’s shareholders and Board of Directors approved to increase the Company’s authorized share capital to US$4,000 divided into 4,000,000,000 shares with a par value of US$0.001 each, consisting of (i) 2,282,750,429 ordinary shares (ii) 458,116,000 Series A Preferred Shares, (iii) 153,603,600 Series B Preferred Shares, (iv) 185,665,192 Series C Preferred Shares, (v) 842,738,782 Series D Preferred Shares, and (vi) 77,125,997 Series D+ Preferred Shares, respectively, which will become effective immediately prior to the completion of the Company’s IPO. All of the Preferred Shares issued and outstanding immediately prior to the completion of the IPO will be converted (by way of re-designation re-classification) On May 8, 2020, the Company completed its IPO on the NASDAQ Global Select Market. 30,000,000 ADS representing 450,000,000 ordinary shares were sold at $17.00 per ADS, or $1.13 per share. Additionally, the underwriters exercised their options to purchase an additional 67,500,000 ordinary shares in the form of 4,500,000 ADSs. Net proceeds from the IPO including underwriter options after deducting underwriting discount and offering expenses were approximately RMB3,875,394. The deferred IPO costs were recorded as a reduction of the proceeds received from the IPO in the shareholders’ (deficit) equity. Upon completion of the IPO, all outstanding Preferred Shares were converted on a one-for-one On September 23, 2020, the Company completed its follow-on follow-on . follow-on On September 3, 2021, the Company issued ordinary shares in connection with the acquisition of Camelot. On December 17, 2021, the Company’s shareholders and Board of Directors approved to increase the Company’s authorized share capital to US$40,000 divided into 40,000,000,000 ordinary shares with a par value of US$0.001 each. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 20. RELATED PARTY TRANSACTIONS a) Related Parties Name of related parties Relationship with the Group Kingsoft Corporation Limited and its subsidiaries (other than all of entities of the Group) (“Kingsoft Group”) Principal shareholder of the Company Cheetah Mobile Inc. and its subsidiaries (“Cheetah Group”) Entity that Kingsoft Corporation Limited exercises significant influence over Xiaomi Corporation and its subsidiaries (“Xiaomi Group”) Entity controlled by a director of the Company The Company was controlled by Kingsoft before the completion of IPO. As Kingsoft lost control over the Company upon the completion of the IPO on May 8, 2020, Cheetah Group is no longer a related party of the Company. b) The Group had the following related party transactions: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Revenues: Public cloud services provided to Xiaomi Group 570,431 655,165 749,597 117,628 Public cloud services provided to Kingsoft Group 109,177 119,011 156,158 24,505 Public cloud services provided to Cheetah Group 8,579 3,111 — — Enterprise cloud services provided to Xiaomi Group — — 22,857 3,587 Enterprise cloud services provided to Kingsoft Group — — 838 131 Other services provided to Xiaomi Group 120 82 — — Other services provided to Kingsoft Group — — 74 12 688,307 777,369 929,524 145,863 Purchase of devices from Xiaomi Group 2,707 2,177 1,349 212 Interest expense on loan s — — 16,633 2,610 Interest expense on loan due to Kingsoft Group 4,925 — 4,088 641 Rental of building from Xiaomi Group* 9,578 47,900 56,452 8,859 Rental of office space, and administrative services from Kingsoft Group** 24,524 13,801 13,321 2,090 41,734 63,878 91,843 14,412 * The Group entered into agreements to lease building and office space from Xiaomi Group. As of December 31, 2020 and 2021, the related operating lease right-of-use ** The Group entered into short-term agreements to lease office space from Kingsoft Group in 2019 . The 2020 and were administrative services from Kingsoft Group. c) The Group had the following related party balances at the end of the year: As at December 31 2020 2021 2021 RMB RMB US$ Amounts due from related parties: Xiaomi Group 165,568 175,170 27,488 Kingsoft Group 45,258 37,731 5,921 210,826 212,901 33,409 Amounts due to related parties: Kingsoft Group* 80,294 544,376 85,425 Xiaomi Group** 32,704 764,941 120,036 112,998 1,309,317 205,461 * During 2021, the Group entered into a loan agreement with Kingsoft Group for an aggregate principal amount of RMB500,000 (US$78,461) bearing a fixed annual interest rate of 4.65%. The loan will be repaid in November 2022. ** During 2021, the Group entered into several loan agreements with a weighted average interest rate of 4.36% with Xiaomi Group which are secured by the Group’s electronic equipment. As of December 31, 2021, the current portion and non-current portion of the loans was , Under the terms of the agreements, the Group will repay in fixed quarterly installments over 3 years according to the following schedule: 2021 2021 RMB US$ 2022 236,206 37,066 2023 241,168 37,845 2024 231,714 36,361 709,088 111,272 All the balances with related parties except for the loans from Xiaomi Group were unsecured. All outstanding balances except for loans from Xiaomi Group and Kingsoft Group are repayable on demand unless otherwise disclosed. The effect of adopting ASC 326 to due from related parties was immaterial. |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 21. COMMITMENTS AND CONTINGENCIES Capital expenditure commitments The Group has commitments for the construction of a data center of RMB46,391 (US$7,280) at December 31, 2021, which are scheduled to be paid within one year. Contingencies The Group is currently not involved in any legal or administrative proceedings that may have a material adverse impact on the Group’s business, financial position or results of operations. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (loss) | 12 Months Ended |
Dec. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | 22. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) RMB Balance as of January 1, 2020 484,348 Foreign currency translation adjustments, net of tax of nil (552,788 ) Balance as of December 31, 2020 (68,440 ) Foreign currency translation adjustments, net of tax of nil (139,442 ) Balance as of December 31, 2021 (207,882 ) Balance as of December 31, 2021, in US$ (32,621 ) There have been no reclassifications out of accumulated other comprehensive income (loss) to net loss for the periods presented. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 23. SUBSEQUENT EVENTS In March 2022, the Company was authorized to adopt a share repurchase program under which the Company may repurchase up to US$100,000 of its ordinary shares in the form of ADSs during a twelve-month period. As of the date of this annual report, this repurchase program has not been adopted and no shares have been repurchased. |
Condensed Financial Information
Condensed Financial Information of the Parent Company | 12 Months Ended |
Dec. 31, 2021 | |
Parent Company [Abstract] | |
Condensed Financial Information of the Parent Company | 24. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY Condensed Balance Sheets As at December 31 2020 2021 2021 RMB RMB US$ 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 Investments in subsidiaries — 5,328,424 836,146 Total non-current — 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 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$0.001 per share; 4,000,000,000 and 40,000,000,000 shares authorized, 3,546,124,955 and 3,805,284,810 shares issued, 3,339,618,633 and 3,646,381,840 shares outstanding as of December 31, 2020 and 2021, respectively) 22,801 24,782 3,889 Additional paid-in 14,149,984 18,245,801 2,863,164 Accumulated deficit (5,864,356 ) (7,458,752 ) (1,170,441 ) Accumulated other comprehensive loss (68,440 ) (207,882 ) (32,621 ) Total Kingsoft Cloud Holdings Limited shareholders’ equity 8,239,989 10,603,949 1,663,991 Total liabilities and shareholders’ equity 8,534,800 11,989,218 1,881,370 Condensed Statements of Comprehensive Loss For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ 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 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. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). |
Principles of consolidation | Principles of consolidation The consolidated financial statements of the Group include the financial statements of the Company, its subsidiaries, the VIEs, and subsidiaries of the VIEs for which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated upon consolidation. |
Use of estimates | Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in the Group’s consolidated financial statements include, but are not limited to, allowance for credit losses or allowance for doubtful accounts for accounts receivable, contract assets and amounts due from related parties, measurement of operating lease right-of-use |
Foreign currency | Foreign currency The Group’s financial information is presented in Renminbi (“RMB”). The functional currency of the Company and the Company’s subsidiaries located in the U.S. is U.S. dollars (“US$”). The functional currency of the Company’s subsidiaries and the VIEs and VIEs’ subsidiaries located in the PRC is Renminbi (“RMB”). The functional currencies of the Company’s subsidiaries located in Japan and Hong Kong are Japanese Yen (“Yen”) and Hong Kong d Transactions denominated in foreign currencies are re-measured re-measured Non-monetary re-measured |
Convenience translation | Convenience translation Amounts in U.S. dollars are presented for the convenience of the reader and are translated at the noon buying rate of RMB6.3726 per US$1.00 on December 31, 2021 in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash on hand and time deposits or other highly liquid investments placed with banks or other financial institutions which are unrestricted as to withdrawal or use and have original maturities of less than three months. |
Restricted cash | Restricted cash Restricted cash mainly represents the cash reserved in escrow accounts for purchase consideration in relation to a business acquisition, cash secured for certain payables to suppliers and advances paid by certain customers to guarantee the Group’s performance under certain revenue contracts. |
Short-term investments | Short-term investments The Group’s short-term investments comprise primarily of cash deposits at fixed rates with original maturities of greater than three months, but less than 12 months. |
Non-controlling interests | Non-controlling interests A non-controlling interest to non-controlling interests. to non-controlling interests as “non-controlling interests” |
Business combinations | Business combinations The Group accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805, Business Combinations Update (“ASU”) No. 2021-08, Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers 2021-08”) |
Equity investments | Equity investments The Group’s equity investments are long-term investments in unlisted companies based in the PRC over which the Group neither has significant influence nor control through investment in common stock or in-substance Fair Value Measurements and Disclosures any The Group makes a qualitative assessment of whether the equity investments are impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the entity has to estimate the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the entity has to recognize an impairment loss in the statements of comprehensive loss equal to the difference between the carrying value and fair value. As of December 31, 2020 and 2021, the carrying amount s were including and accumulated upward adjustment of RMB 14,301 and RMB96,793 (US$15,189 ), respectively. The Group recognized RMB and RMB (US$ of and RMB (US$ ) of , net on the consolidated statements of comprehensive loss for the , and , respectively . In 2021, the Group: i) acquired equity interest of a company engaged in providing technology services ; and disposed of , net |
Fair value measurements | Fair value measurements Financial instruments of the Group primarily include cash and cash equivalents, restricted cash, short-term investments, accounts receivable and contract assets, equity investments, accounts payable, purchase consideration payable, certain other liabilities, amounts due from and due to related parties and bank loans. For equity investments, the Group elected to use the measurement alternative to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Group, with the assistance of an independent third-party valuation firm, determined the estimated fair value of its equity investments using the alternative measurement. The carrying amounts of the bank loans approximate to their fair values due to the fact that the related interest rates approximate the interest rates currently offered by financial institutions for similar debt instruments of comparable maturities. The Group measures its purchase consideration payable at fair value on a recurring basis. The fair value of purchase consideration payable is estimated by discounting cash flows using interest rates currently available for similar debts instruments of comparable maturities (Level 2 fair value measurement). The Group applies ASC 820 in measuring fair value. ASC 820 defines fair value, establishes a framework for measuring fair value and requires disclosures to be provided on fair value measurement. The carrying amounts of the remaining financial instruments approximate to their fair values because of their short-term maturities. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Include other inputs that are directly or indirectly observable in the marketplace. Level 3—Unobservable inputs which are supported by little or no market activity. ASC urrently |
Adoption of ASC 326 | Adoption of ASC 326 On January 1, 2021, the Group adopted ASC 326, Credit Losses |
Accounts receivable and contract assets, net | Accounts receivable and contract assets, net Prior to the adoption of ASC 326, accounts receivable are recognized and carried at original invoiced amount less an allowance for any potential uncollectible amounts. An allowance for doubtful accounts is recorded when collection of the full amount is no longer probable. In evaluating the collectability of receivable balances, the Group considers specific evidence including the aging of the receivable, the customer’s payment history, its current creditworthiness and current economic trends. Accounts receivable are written off after all collection efforts have ceased. Upon adoption of ASC 326, the Group maintains an allowance for credit losses in accordance with ASC 326 and records the allowance for credit losses as an offset to accounts receivable and contract assets, and the estimated credit losses charged to the allowance is classified as “General and administrative expenses” in the consolidated statements of comprehensive loss. The Group assesses collectability by reviewing accounts receivable and contract assets on a collective basis where similar characteristics exist and on an individual basis when the Group identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Group considers historical collectability based on past due status, the age of the accounts receivable and contract assets balances, credit quality of the Group’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the Group’s ability to collect from customers. |
Property and equipment, net | Property and equipment, net Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated Useful Life Electronic equipment 3–4 years Office equipment and fixtures 5 years Data center machinery and equipment 10 years Building 50 years Repair and maintenance costs are charged to expense s Direct costs that are related to the construction of property and equipment, and incurred in connection with bringing the assets to their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment, and the depreciation of these assets commences when the assets are ready for their intended use. |
Intangible assets | Intangible assets Intangible assets are carried at cost less accumulated amortization and any recorded impairment. Intangible assets acquired in a business combination were recognized initially at fair value at the date of acquisition. Intangible assets with finite useful lives are amortized using a straight-line method of amortization that reflects the estimated pattern in which the economic benefits of the intangible assets are to be consumed. The estimated useful lives for the intangible assets are as follows: Category Estimated Useful Life Customer relationships 6 years Patents and technologies 6-10 Trademarks and domain names 10 years Software and copyrights 3–10 years Others 3 years If an intangible asset is determined to have an indefinite life, it should not be amortized until its useful life is determined to be no longer indefinite. As of December 31, 2020 and 2021, the Group did not have any intangible assets with indefinite lives |
Impairment of long-lived assets | Impairment of long-lived assets The Group evaluates its long-lived assets for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of long-lived assets in an asset group may not be fully recoverable. When these events occur, the Group evaluates the recoverability of long-lived assets by comparing the carrying amount of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Group recognizes an impairment loss based on the excess of the carrying amount of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. Significant assumptions used in the future undiscounted cash flows of the asset group included revenue growth rates and gross |
Segment reporting | Segment reporting In accordance with ASC 280-10, Segment Reporting: Overall |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets acquired in a business combination. Goodwill is allocated to the reporting units of the Group that are expected to benefit from the synergies of the business combination based on the estimated fair value of these reporting units at the date of acquisition. A reporting unit is defined as an operating segment or one level below an operating segment referred to as a component. The Group determines reporting units by first identifying its operating segments, and then assesses whether any components of these segments constituted a business for which discrete financial information is available and where the segment manager regularly reviews the operating results of that component. As of December 31, 2021, the Group has two reporting units, consisting of Cloud service and solutions and Cloud-based digital solution and services. Because, except for those two reporting units identified, other components below the consolidated level either did not have discrete financial information or their operating results were not regularly reviewed by the segment manager. The Group assesses goodwill for impairment in accordance with ASC 350-20, Intangibles—Goodwill and Other: Goodwill (“ASC 350-20”), which requires goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events. The Group has the option to assess qualitative factors first to determine whether it is necessary to perform the quantitative test in accordance with ASC 350-20. In the qualitative assessment, the Group considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations to assess any significant changes in each reporting unit’s fair value and carrying value since the most recent date a fair value measurement was performed. If the Group believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The Group adopted 2017-04, Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), on a prospective basis on January 1, 2021, and compares the fair value of the reporting unit with its carrying amount, including goodwill. ASU 2017-04 simplifies the accounting for goodwill impairment by eliminating step two from the goodwill impairment test. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to that excess. No impairment of goodwill was recorded for the year ended December 31, 2021. |
Revenue recognition | Revenue recognition The Group applies the five-step model outlined in ASC 606, Revenue from Contracts with Customers Revenue is allocated to each performance obligation based on its standalone selling price. The Group generally determines standalone selling prices based on observable prices. If the standalone selling price is not observable through past transactions, the Group estimates the standalone selling price based on multiple factors, including, but not limited to, historical discounting trends for services, gross margin objectives, internal costs, and industry technology lifecycles. Timing of revenue recognition may differ from the timing of invoicing to customers. For certain revenue contracts, customers are required to pay before the services are delivered to the customer. The Group recognizes a contract asset or a contract liability in the consolidated balance sheets, depending on the relationship between the entity’s performance and the customer’s payment. Contract liabilities represent the excess of payments received as compared to the consideration earned and are reflected in “accrued expenses and other liabilities” in the Group’s consolidated balance sheets. Contract assets primarily relate to the Group’s rights to consideration for work completed in relation to its services performed but not billed at the reporting date, and are reflected in “prepayments and other assets” in the Group’s consolidated balance sheets. The contract assets are transferred to the receivables when the rights become unconditional. Using the practical expedient in ASC 606, the Group does not adjust the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between the transfer of the promised good or service to the customer and when the customer pays for that good or service will be one year or less. Pursuant to ASC 606-10-32-2A, Public cloud services The Group provides integrated cloud-based services including cloud computing, storage and delivery. The nature of the Group’s performance obligation is a single performance obligation to stand ready to provide an unspecified quantify of integrated cloud-based services each day throughout the contract period. The Group uses monthly utilization records, an output measure, to recognize revenue over time as it most faithfully depicts the simultaneous consumption and delivery of services. At the end of each month, the transaction consideration is fixed based on utilization records and no variable consideration exists. Enterprise cloud services The Group provides comprehensive customized cloud-based and enterprise digital solutions, which are typically completed within twelve months (“Solutions”). The components within the Solutions are not distinct within the context of the contract because they are considered highly interdependent and the customer can only benefit from these components in conjunction with one another as a two-way was The Group also provides enterprise digital services. The series of enterprise digital services are substantially the same from day to day, and each day of the service is considered to be distinct and separately identifiable as it benefits the customer daily. Further, the uncertainty related to the service consideration is resolved on a daily basis as the Group satisfies its obligation to perform enterprise digital service daily with enforceable right to payment for performance completed to date. Thus, revenue is recognized as service is performed and the customer simultaneously receives and consumes the benefits from the service daily. |
Cost of revenue | Cost of revenue Cost of revenues primarily includes bandwidth and internet data center costs, depreciation expense of electronic equipment, data center machinery and equipment, salaries and benefits for employees directly involved in revenue generation activities, and other expenses directly attributable to the provision of services. |
Research and development | Research and development Research and development expenses primarily consist of salaries and benefits for research and development personnel, and third party service provider costs. The Group expenses research and development costs as they are incurred. |
Advertising expenditures | Advertising expenditures Advertising costs are expensed when incurred and are included in sales and marketing expenses in the consolidated statements of comprehensive loss. For the years ended December 31, 2019, 2020 and 2021, the advertising expenses were approximately RMB29,271, RMB15,348 and RMB24,070 (US$3,777), respectively. |
Government grants | Government grants Government grants primarily consist of financial grants received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. There are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. Government grants of non-operating non-operating |
Leases | Leases The Group adopted ASU No. 2016-02, Leases (Topic 842) The Group determines if an arrangement is a lease or contains a lease at lease inception. For operating leases, the Group recognizes a right-of-use |
Comprehensive loss | Comprehensive loss Comprehensive loss is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Among other disclosures, ASC 220, Comprehensive Income |
Income taxes | Income taxes The Group follows the liability method of accounting for income taxes in accordance with ASC 740, Income Taxes more-likely-than-not The Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as income tax expense. In accordance with the provisions of ASC 740, the Group recognizes in its consolidated financial statements the impact of a tax position if a tax return position or future tax position is “more likely than not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Group’s estimated liability for unrecognized tax benefits that, if any, will be recorded in “other non-current |
Share-based compensation | Share-based compensation The Group applies ASC 718, Compensation—Stock Compensation The Group uses the accelerated method for all awards granted with graded vesting based on service conditions, and elected to account for forfeitures as they occur. The Group elected to account for forfeitures as they occur. The Group, with the assistance of an independent third party valuation firm, determined the fair value of the share-based awards granted to employees. The binomial option pricing model was applied in determining the estimated fair value of the options granted to employees. |
Loss per share | Loss per share In accordance with ASC 260, Earnings Per Share the two-class two-class two-class Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of the ordinary shares issuable upon the conversion of the Company’s convertible preferred shares and redeemable convertible preferred shares using the if-converted |
Employee benefit expenses | Employee benefit expenses All eligible employees of the Group are entitled to staff welfare benefits including medical care, welfare grants, unemployment insurance and pension benefits through a PRC government-mandated multi-employer defined contribution plan. The Group is required to accrue for these benefits based on certain percentages of the qualified employees’ salaries. The Group is required to make contributions to the plans out of the amounts accrued. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Group’s obligations are limited to the amounts contributed. The Group has no further payment obligations once the contributions have been paid. The Group recorded employee benefit expenses of RMB155,848, RMB126,784 and RMB310,126 (US$48,666) for the years ended December 31, 2019, 2020 and 2021, respectively. |
Impact of COVID-19 | Impact of COVID-19 For the year s COVID-19 COVID-19’s COVID-19 |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Disclosure Details of Principal Subsidiaries and Variable Interest Entities | As of December 31, 2021, the Company’s principal subsidiaries, variable interest entities, and subsidiaries of its variable interest entities, are as follows: Name Place of establishment Date of establishment/ acquisition Percentage of equity interest attributable to the Company Principal activities Subsidiaries: Kingsoft Cloud Corporation Limited HK February 1, 2012 100 % Cloud services Kingsoft Cloud (Tianjin) Technology Development . PRC May 30, 2019 100 % Cloud services Wuhan Kingsoft Cloud Information Technology PRC December 26, 2017 100 % Cloud services Beijing Kingsoft Cloud Technology Co., Ltd. PRC April 9, 2012 100 % Research and development Beijing Yunxiang Zhisheng Technology Co., Ltd. PRC December 15, 2015 100 % Research and development Camelot Technology Co ., L td . PRC September 3, 2021 82.15 % Enterprise digital solutions and related services Variable interest entities: Zhuhai Kingsoft Cloud Technology Co., Ltd. PRC November 9, 2012 Nil Investment holding Kingsoft Cloud (Beijing) Information Technology PRC April 13, 2018 Nil Investment holding Variable interest entities’ subsidiaries: Beijing Kingsoft Cloud Network Technology Co., PRC November 9, 2012 Nil Cloud services Beijing Jinxun Ruibo Network Technology Co., PRC December 17, 2015 Nil Cloud services Nanjing Qianyi Shixun Information Technology PRC March 31, 2016 Nil Cloud services * Collectively |
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 2020 2021 2021 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 1,429,508 2,209,647 346,742 Restricted cash — 89,704 14,077 Accounts receivable, net of allowance for credit losses of RMB 15,745 RMB 30,082 2,258,313 3,170,860 497,577 Prepayments and other assets 630,121 907,350 142,383 Amounts due from related parties 204,275 184,137 28,895 Amounts due from subsidiaries of the Group 1,631,592 2,157,428 338,547 Total current assets 6,153,809 8,719,126 1,368,221 Non-current Property and equipment, net 1,727,620 2,157,093 338,495 Intangible assets, net 14,980 93,662 14,698 Prepayments and other assets 9,978 27,036 4,243 Goodwill — 64,082 10,056 Equity investments 86,251 162,244 25,460 Amounts due from related parties 4,712 4,712 739 Operating lease right-of-use 210,338 184,908 29,016 Total non-current 2,053,879 2,693,737 422,707 Total assets 8,207,688 11,412,863 1,790,928 Current liabilities Accounts payable 2,013,428 2,733,487 428,944 Accrued expenses and other liabilities 521,307 1,208,868 189,698 Short-term bank loans 278,488 1,348,166 211,557 Long-term bank loan, current portion 74,351 — — Income tax payable 45 1,026 161 Amounts due to related parties 56,795 797,731 125,181 Current operating lease liabilities 56,261 70,672 11,090 Amounts due to subsidiaries of the Group 903,879 1,597,946 250,753 Total current liabilities 3,904,554 7,757,896 1,217,384 Non-current Deferred tax liabilities 29 — — Other liabilities 7,020 6,975 1,095 Non-current 146,012 121,057 18,996 Amounts due to related parties — 472,882 74,206 Amounts due to subsidiaries of the Group 7,367,267 7,486,525 1,174,799 Total non-current 7,520,328 8,087,439 1,269,096 Total liabilities 11,424,882 15,845,335 2,486,480 |
Schedule of Operations and Cash Flows Results of Variable Interest Entities | For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Revenues 3,882,352 6,377,158 7,972,143 1,251,003 Net loss (970,344 ) (922,908 ) (1,556,904 ) (244,312 ) Net cash used in operating activities (785,378 ) (833,479 ) (958,748 ) (150,448 ) Net cash used in investing activities (836,981 ) (1,471,637 ) (843,586 ) (132,377 ) Net cash generated from financing activities 1,618,102 2,802,088 2,612,563 409,968 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of Property Plant and Equipment Useful Lives | Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated Useful Life Electronic equipment 3–4 years Office equipment and fixtures 5 years Data center machinery and equipment 10 years Building 50 years |
Schedule of Finite Lived Intangible Assets Useful Lives | The estimated useful lives for the intangible assets are as follows: Category Estimated Useful Life Customer relationships 6 years Patents and technologies 6-10 Trademarks and domain names 10 years Software and copyrights 3–10 years Others 3 years |
Business Combination (Tables)
Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Summary of fair value of assets acquired and liabilities assumed | The table below summarize s Camelot RMB US$ Total fair value of purchase consideration 5,290,553 830,203 Less: Cash and cash equivalents 618,439 97,047 Restricted cash 1,126 177 Accounts receivable and other assets 940,297 147,553 Property and equipment, net 12,224 1,918 Intangible assets: Customer relationship 620,100 97,307 Trademarks 474,000 74,381 Copyrights 34,100 5,351 Deferred tax assets 59,060 9,268 Deferred tax liabilities (268,490 ) (42,132 ) Accounts payable and other liabilities (878,885 ) (137,916 ) Non-controlling (882,451 ) (138,476 ) Goodwill 4,561,033 715,725 |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Summary of Disaggregation of Revenue | The following table presents the Group’s revenues from contracts with customers disaggregated by material revenue category: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Public cloud services recognized over time 3,458,843 5,166,851 6,159,085 966,495 Enterprise cloud services: Recognized at a point in time 485,991 1,368,544 2,159,869 338,931 Recognized over time 317 4,145 737,948 115,800 486,308 1,372,689 2,897,817 454,731 Others: Recognized at a point in time 11,202 36,611 1,208 190 Recognized over time — 1,156 2,674 419 11,202 37,767 3,882 609 3,956,353 6,577,307 9,060,784 1,421,835 |
Summary of Revenue, Remaining Performance Obligation | The transaction prices allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at December 31, 2021 are primarily related to enterprise cloud services, which are as follows: RMB US$ Within one year 27,852 4,371 More than one year 23,505 3,688 Total 51,357 8,059 |
Summary of Contract with Customer Liability Recognized | For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Revenue recognized from amounts included in contract liabilities at the beginning of the period 22,782 37,550 112,221 17,610 |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | |
Schedule of Accounts Receivable, Net | As at December 31 2020 2021 2021 RMB RMB US$ Accounts receivable 2,350,641 3,603,240 565,427 Allowance for credit losses (15,770 ) (32,265 ) (5,063 ) Accounts receivable, net 2,334,871 3,570,975 560,364 |
Schedule of the Movement in the allowance for Doubtful Accounts | The movements of the allowance for credit losses were as follows: As at December 31 2019 2020 2021 2021 RMB RMB RMB US$ Balance at beginning of the year 2,249 22,894 15,770 2,475 Adoption of ASC 326* — — 5,684 892 Provision for expected credit losses 61,687 44,695 121,731 19,102 Write-offs charged against the allowance (41,042 ) (44,096 ) (101,202 ) (15,881 ) Recoveries during the year — (7,723 ) (9,718 ) (1,525 ) Balance at end of the year 22,894 15,770 32,265 5,063 * Starting from January 1, 2021, the Group adopted ASC 326, which amends previously issued the |
Prepayments and Other Assets (T
Prepayments and Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Prepayments and Other Assets [Abstract] | |
Schedule of Prepayments and Other Assets | As at December 31 2020 2021 2021 RMB RMB US$ Current portion: Prepayments to suppliers 78,621 162,528 25,504 Contract costs* 13,882 145,628 22,852 Contract assets, net** — 550,068 86,318 VAT prepayments 470,567 619,391 97,196 Interest receivable 14,204 21,463 3,368 Individual income tax receivable*** (Note 12) 231,377 48,949 7,681 Others 78,435 138,994 21,811 887,086 1,687,021 264,730 Non-current Prepayments for electronic equipment 8,978 25,388 3,984 Others 2,846 3,678 577 11,824 29,066 4,561 * Represents costs incurred in advance of revenue recognition arising from direct and incremental cost s ** Represents the Group’s rights to consideration for work completed in relation to its services performed but not billed at the report date. The increase in contract assets as compared to December 31, 2020 is a result of a business acquisition. n and RMB509 (US$80) , respectively, *** Represents amounts due from certain employees related to their individual income taxes (“IIT”) arising from exercise and vesting of share-based awards. |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment, Net | As at December 31 2020 2021 2021 RMB RMB US$ Electronic equipment 4,164,384 5,123,149 803,934 Office equipment and fixtures 9,759 15,462 2,426 Data center machinery and equipment 135,068 144,328 22,648 Building — 15,768 2,474 Construction in progress 5,454 147,817 23,196 4,314,665 5,446,524 854,678 Less: accumulated depreciation (2,357,875 ) (3,082,421 ) (483,699 ) Property and equipment, net 1,956,790 2,364,103 370,979 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets, Net | As at December 31 2020 2021 2021 RMB RMB US$ Customer relationships — 620,100 97,307 Patents and technologies — 67,900 10,655 Trademarks and domain names 7,020 497,098 78,006 Software and copyrights 20,807 71,752 11,259 Others 7,469 3,637 571 35,296 1,260,487 197,798 Less: accumulated amortization Customer relationships — (32,637 ) (5,121 ) Patents and technologies — (8,138 ) (1,277 ) Trademarks and domain names (3,035 ) (20,722 ) (3,252 ) Software and copyrights (10,268 ) (26,692 ) (4,189 ) Others (5,420 ) (2,531 ) (397 ) (18,723 ) (90,720 ) (14,236 ) Intangible assets, net 16,573 1,169,767 183,562 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | As of December 31, 2021, estimated amortization expense of the existing intangible assets for each of the next five years and thereafter is as follows: RMB US$ 2022 171,065 26,844 2023 170,140 26,699 2024 168,476 26,438 2025 166,454 26,120 2026 and thereafter 493,632 77,461 Total 1,169,767 183,562 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Carrying Value of Goodwill | The changes in the carrying amount of goodwill were as follows: RMB Balance as of December 31, 2020 — Goodwill acquired in business combinations (Note 4) 4,625,115 Balance as of December 31, 2021 4,625,115 Balance as of December 31, 2021, in US$ 725,781 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Summary of Undiscounted Future Minimum Payments under the Group's Operating Lease Liabilities | The undiscounted future minimum payments under the Group’s operating lease liabilities and reconciliation to the operating lease liabilities recognized on the consolidated balance sheets were RMB US$ 2022 110,472 17,335 2023 59,238 9,296 2024 50,526 7,929 2025 29,347 4,605 2026 and thereafter 72,078 11,311 Total future lease payments 321,661 50,476 Less: imputed interest (54,782 ) (8,597 ) Total lease liability balance 266,879 41,879 |
Accrued Expenses and Other Li_2
Accrued Expenses and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accrued Liabilities and Other Liabilities [Abstract] | |
Schedule of Accrued Expenses and Other Liabilities | As at December 31 2020 2021 2021 RMB RMB US$ Current portion: Customer advances* 191,357 378,957 59,467 Salary and welfare payable 117,506 600,775 94,275 Purchase of property and equipment 181,038 759,391 119,165 Accrued expenses 44,559 116,021 18,206 Other tax and surcharges payable 25,227 91,287 14,325 Deferred government grants 10,321 8,488 1,332 Purchase consideration payable** — 148,038 23,230 Individual income tax payable*** (Note 7) 231,377 48,949 7,681 Others**** 43,989 71,934 11,288 845,374 2,223,840 348,969 Non-current Deferred government grants 7,020 6,975 1,095 Purchase consideration payable** — 1,180,470 185,242 Others**** 33,558 45,232 7,097 40,578 1,232,677 193,434 * The amount represents contract liabilities for the ** The amount represents the remaining . A total of RMB921,496 (US$144,603) will be settled by the Company’s *** Represents IIT payable to the tax bureau on behalf of certain employees related to their exercise and vesting of share-based awards. **** In July 2020, the Company received a reimbursement of US$7,469 (equivalent to RMB47,597) from the depository for the establishment and maintenance of the ADS program (“ADS Reimbursement”). As of December 31, 2020 and 2021, RMB10,083 and RMB9,836 (US$1,543) were included in the current portion, and RMB33,558 and RMB22,989 (US$3,607) were included in the non-current |
Bank Loans (Tables)
Bank Loans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Bank Loans | As at December 31 2020 2021 2021 RMB RMB US$ Short-term bank loans 278,488 1,348,166 211,557 Long-term third-party bank loan guaranteed by a related party (Note 20): Current portion 74,351 — — 352,839 1,348,166 211,557 |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Before Income Tax, Domestic and Foreign | Loss before income taxes consists of: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ PRC (1,167,367 ) (1,095,015 ) (1,646,607 ) (258,388 ) Non-PRC 65,171 147,721 70,592 11,077 (1,102,196 ) (947,294 ) (1,576,015 ) (247,311 ) |
Schedule of Components of Income Tax Expense (Benefit) | The current and deferred components of income tax expense appearing in the consolidated statements of comprehensive loss are as follows: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Current income tax expense 9,180 15,081 27,593 4,330 Deferred income tax benefit (177 ) (177 ) (11,852 ) (1,860 ) 9,003 14,904 15,741 2,470 |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation of income tax expense computed using the PRC statutory tax rate to the actual income tax expense is as follows: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Loss before income tax (1,102,196 ) (947,294 ) (1,576,015 ) (247,311 ) Income tax computed at the PRC statutory tax rate of 25% (275,549 ) (236,824 ) (394,004 ) (61,828 ) Effect of tax holiday and preferential tax rates 11,493 (44,121 ) 7,083 1,111 Effect of different tax rates in different jurisdictions (11,626 ) 10,580 (1,681 ) (264 ) Other non-taxable (21,557 ) (35,454 ) (24,999 ) (3,923 ) Non-deductible 64,095 14,060 36,719 5,762 Share-based compensation costs 30,320 82,528 108,588 17,040 Research and development super deduction (94,401 ) (113,388 ) (146,639 ) (23,011 ) Withholding tax and others 9,180 11,581 9,552 1,499 Change in valuation allowance 259,031 399,756 434,056 68,113 True-up — (83,342 ) (3,474 ) (545 ) Tax rate change on deferred items 38,017 9,528 (9,460 ) (1,484 ) Income tax expense 9,003 14,904 15,741 2,470 |
Schedule of Deferred Tax Assets and Liabilities | The significant components of the Group’s deferred tax assets and liabilities are as follows: As at December 31 2020 2021 2021 RMB RMB US$ Deferred tax assets: Tax loss carried forward 1,454,702 1,841,192 288,923 Accrued expenses 56,111 235,737 36,992 Depreciation 4,990 7,082 1,111 Allowance for doubtful accounts 3,156 53,436 8,385 Government grant 6,175 4,266 669 Operating lease liabilities 56,706 63,781 10,009 Accrued interest 66,609 170,337 26,730 Others — 2,737 430 Less: valuation allowance (1,401,416 ) (1,881,873 ) (295,307 ) 247,033 496,695 77,942 Deferred tax liabilities: Operating lease right-of-use 54,658 57,300 8,992 One-time 191,107 337,564 52,970 Long-lived assets arising from business acquisitions 29 277,267 43,509 Others 1,268 22,655 3,555 247,062 694,786 109,026 |
Summary of Unrecognized Tax Benefit | A reconciliation of the beginning and ending balances of unrecognized tax benefit is as follows: 2020 2021 2021 RMB RMB US$ Balance at beginning of the year — 12,613 1,979 Additions from the business acquisitions — 19,551 3,068 Additions based on tax positions related to current year 12,613 26,885 4,219 Balance at end of the year 12,613 59,049 9,266 |
Share-based Payments (Tables)
Share-based Payments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Summary of the Activity Under the Share Option Scheme | A summary of the activity under the Share Option Scheme is stated below: Number of options Weighted- average exercise price Weighted- average grant-date fair value Weighted- average remaining contractual term Aggregate intrinsic value US$ US$ Years US$ Outstanding, December 31, 2020 86,759,375 0.07 0.54 7.12 2.83 Granted 12,292,710 0.07 2.80 Forfeited (7,384,942 ) 0.07 1.38 Exercised (29,906,941 ) 0.07 0.71 Outstanding, December 31, 2021 61,760,202 0.07 0.87 6.61 0.98 Vested and expected to vest at December 31, 2021 61,760,202 0.07 0.87 6.61 0.98 Exercisable at December 31, 2021 28,437,976 0.07 0.46 5.22 0.98 |
Summary of the Activity for the Restricted Shares Issued Under the Share Award Scheme | A summary of the activity for the restricted shares issued under the Share Award Scheme is stated below: Number of shares Weighted-average grant date fair value US$ Outstanding, December 31, 2020 53,602,560 0.76 Granted 29,076,828 2.04 Vested (19,020,640 ) 0.71 Forfeited (5,671,482 ) 1.61 Outstanding, December 31, 2021 57,987,266 1.32 Expected to vest at December 31, 2021 57,987,266 1.32 |
Summary of the Activity for the Restricted Shares Issued Under the Share Award Scheme | A summary of the activity for the options issued under the Share Award Scheme is stated below: Number of options Weighted- average exercise price Weighted- average grant- date fair value Weighted- average remaining contractual term Aggregate intrinsic value US$ US$ Years US$ Outstanding, December 31, 2020 37,191,840 0.82 0.31 9.00 2.09 Exercised (8,081,820 ) 0.64 0.33 Forfeited (1,241,600 ) 0.87 0.30 Outstanding, December 31, 2021 27,868,420 0.83 0.31 7.99 0.22 Vested and expected to vest at December 31, 2021 27,868,420 0.83 0.31 7.99 0.22 Exercisable at December 31, 2021 12,566,340 0.80 0.30 8.00 0.25 |
Summary of Assumptions Used To Estimate the Fair Value of the Share Options | The estimated fair values of the ordinary shares, at the share award grant dates, was determined with the assistance from an independent third-party valuation firm. The assumptions used to estimate the fair value of the share options granted are as follows: For the year ended December 31 2019 2020 2021 Risk-free rate 1.58%-1.80% 0.66%-1.84% 1.13%-1.62% Expected volatility range 37.40%-37.90% 37.3%-37.8% 36.28%-38.03% Exercise multiple 2.20-2.80 2.20-2.80 2.20-2.80 Fair market value per ordinary share as at valuation dates US$0.72-US$0.76 US$0.76-US$1.94 US$1.97-US$3.49 |
Summary of acquisition date fair value of each share-based award is estimated | The acquisition date fair value of each Camelot award is estimated on the date of modification using the binomial tree option pricing model with the following assumptions: 2021 Risk-free rate 0.21 % Expected volatility range 50.56 % Exercise multiple 2.20 Fair market value per Camelot’s ordinary share RMB23.00 |
Summary of Share-based Compensation Expense | The following table sets forth the amount of share-based compensation expense included in each of the relevant financial statement line items: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Cost of revenues 8,509 10,614 17,481 2,743 Selling and marketing expenses 37,808 62,270 72,594 11,392 General and administrative expenses 31,988 169,101 193,886 30,425 Research and development expenses 42,974 88,129 150,389 23,599 121,279 330,114 434,350 68,159 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Basic and diluted loss per share for each of the years presented are calculated as follows: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Numerator: Net loss attributable to Kingsoft Cloud Holdings Limited (1,111,199 ) (962,259 ) (1,588,712 ) (249,303 ) Accretion to redemption value of redeemable convertible preferred shares (49,725 ) (19,768 ) — — Net loss attributable to ordinary shareholders - basic and diluted (1,160,924 ) (982,027 ) (1,588,712 ) (249,303 ) Denominator: Weighted average number of ordinary shares outstanding - basic and diluted 889,521,200 2,400,874,197 3,441,729,444 3,441,729,444 Basic and diluted loss per share (1.31 ) (0.41 ) (0.46 ) (0.07 ) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Schedule of Related Parties And Nature Of Relationship | a) Related Parties Name of related parties Relationship with the Group Kingsoft Corporation Limited and its subsidiaries (other than all of entities of the Group) (“Kingsoft Group”) Principal shareholder of the Company Cheetah Mobile Inc. and its subsidiaries (“Cheetah Group”) Entity that Kingsoft Corporation Limited exercises significant influence over Xiaomi Corporation and its subsidiaries (“Xiaomi Group”) Entity controlled by a director of the Company |
Schedule of Related Party Transactions | b) The Group had the following related party transactions: For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ Revenues: Public cloud services provided to Xiaomi Group 570,431 655,165 749,597 117,628 Public cloud services provided to Kingsoft Group 109,177 119,011 156,158 24,505 Public cloud services provided to Cheetah Group 8,579 3,111 — — Enterprise cloud services provided to Xiaomi Group — — 22,857 3,587 Enterprise cloud services provided to Kingsoft Group — — 838 131 Other services provided to Xiaomi Group 120 82 — — Other services provided to Kingsoft Group — — 74 12 688,307 777,369 929,524 145,863 Purchase of devices from Xiaomi Group 2,707 2,177 1,349 212 Interest expense on loan s — — 16,633 2,610 Interest expense on loan due to Kingsoft Group 4,925 — 4,088 641 Rental of building from Xiaomi Group* 9,578 47,900 56,452 8,859 Rental of office space, and administrative services from Kingsoft Group** 24,524 13,801 13,321 2,090 41,734 63,878 91,843 14,412 * The Group entered into agreements to lease building and office space from Xiaomi Group. As of December 31, 2020 and 2021, the related operating lease right-of-use ** The Group entered into short-term agreements to lease office space from Kingsoft Group in 2019 . The 2020 and were administrative services from Kingsoft Group. |
Schedule of Related Party Balances | c) The Group had the following related party balances at the end of the year: As at December 31 2020 2021 2021 RMB RMB US$ Amounts due from related parties: Xiaomi Group 165,568 175,170 27,488 Kingsoft Group 45,258 37,731 5,921 210,826 212,901 33,409 Amounts due to related parties: Kingsoft Group* 80,294 544,376 85,425 Xiaomi Group** 32,704 764,941 120,036 112,998 1,309,317 205,461 * During 2021, the Group entered into a loan agreement with Kingsoft Group for an aggregate principal amount of RMB500,000 (US$78,461) bearing a fixed annual interest rate of 4.65%. The loan will be repaid in November 2022. ** During 2021, the Group entered into several loan agreements with a weighted average interest rate of 4.36% with Xiaomi Group which are secured by the Group’s electronic equipment. As of December 31, 2021, the current portion and non-current portion of the loans was , Under the terms of the agreements, the Group will repay in fixed quarterly installments over 3 years according to the following schedule: |
Schedule of Repayment of Related Party Loans in Fixed Quarterly Installments | 2021 2021 RMB US$ 2022 236,206 37,066 2023 241,168 37,845 2024 231,714 36,361 709,088 111,272 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (loss) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | RMB Balance as of January 1, 2020 484,348 Foreign currency translation adjustments, net of tax of nil (552,788 ) Balance as of December 31, 2020 (68,440 ) Foreign currency translation adjustments, net of tax of nil (139,442 ) Balance as of December 31, 2021 (207,882 ) Balance as of December 31, 2021, in US$ (32,621 ) |
Condensed Financial Informati_2
Condensed Financial Information of the Parent Company (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Parent Company [Abstract] | |
Summary of Parent Company Balance Sheet | 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 Investments in subsidiaries — 5,328,424 836,146 Total non-current — 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 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$0.001 per share; 4,000,000,000 and 40,000,000,000 shares authorized, 3,546,124,955 and 3,805,284,810 shares issued, 3,339,618,633 and 3,646,381,840 shares outstanding as of December 31, 2020 and 2021, respectively) 22,801 24,782 3,889 Additional paid-in 14,149,984 18,245,801 2,863,164 Accumulated deficit (5,864,356 ) (7,458,752 ) (1,170,441 ) Accumulated other comprehensive loss (68,440 ) (207,882 ) (32,621 ) Total Kingsoft Cloud Holdings Limited shareholders’ equity 8,239,989 10,603,949 1,663,991 Total liabilities and shareholders’ equity 8,534,800 11,989,218 1,881,370 |
Summary of Parent Company Income Statement | For the year ended December 31 2019 2020 2021 2021 RMB RMB RMB US$ 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 ) |
Summary of Parent Company Cash Flow | 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 |
Organization and Basis of Pre_3
Organization and Basis of Presentation - Schedule of Organization and Basis of Presentation (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
CN | Zhuhai Kingsoft Cloud Technology Co Ltd | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Variable: Date of establishment/ acquisition | Nov. 9, 2012 |
Variable: Principal activities | Investment holding |
CN | Kingsoft Cloud Beijing Information Technology Co Ltd | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Variable: Date of establishment/ acquisition | Apr. 13, 2018 |
Variable: Principal activities | Investment holding |
Subsidiaries | CN | Beijing Kingsoft Cloud Network Technology Co Ltd | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Variable: Date of establishment/ acquisition | Nov. 9, 2012 |
Variable: Principal activities | Cloud services |
Subsidiaries | CN | Beijing Jinxun Ruibo Network Technology Co Ltd | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Variable: Date of establishment/ acquisition | Dec. 17, 2015 |
Variable: Principal activities | Cloud services |
Subsidiaries | CN | Nanjing Qianyi Shixun Information Technology Co Ltd | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Variable: Date of establishment/ acquisition | Mar. 31, 2016 |
Variable: Principal activities | Cloud services |
Subsidiaries | Kingsoft Cloud Corporation Limited | HK | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | HK |
Date of establishment/ acquisition | Feb. 1, 2012 |
Percentage of equity interest attributable to the Company | 100.00% |
Principal activities | Cloud services |
Subsidiaries | Kingsoft Cloud (Tianjin) Technology Development Co., Ltd. | CN | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Date of establishment/ acquisition | May 30, 2019 |
Percentage of equity interest attributable to the Company | 100.00% |
Principal activities | Cloud services |
Subsidiaries | Wuhan Kingsoft Cloud Information Technology Co Ltd | CN | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Date of establishment/ acquisition | Dec. 26, 2017 |
Percentage of equity interest attributable to the Company | 100.00% |
Principal activities | Cloud services |
Subsidiaries | Beijing Kingsoft Cloud Technology Co., Ltd | CN | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Date of establishment/ acquisition | Apr. 9, 2012 |
Percentage of equity interest attributable to the Company | 100.00% |
Principal activities | Research and development |
Subsidiaries | Beijing Yunxiang Zhisheng Technology Co Ltd | CN | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Date of establishment/ acquisition | Dec. 15, 2015 |
Percentage of equity interest attributable to the Company | 100.00% |
Principal activities | Research and development |
Subsidiaries | Camelot Technology Co., Ltd. | CN | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Place of establishment | PRC |
Date of establishment/ acquisition | Sep. 3, 2021 |
Percentage of equity interest attributable to the Company | 82.15% |
Principal activities | Enterprise digital solutions and related services |
Organization and Basis of Pre_4
Organization and Basis of Presentation - Additional Information (Detail) ¥ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021CNY (¥)¥ / shares | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2021USD ($) | Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Shareholder Voting Rights Trust Agreements Term | 10 years | ||||
Variable interest entity and subsidiaries, Consolidated, Assets, Pledged | ¥ 0 | ||||
Restricted Cash [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Assets secured for payment of liabilities | ¥ 89,704 | $ 14,077 | |||
Camelot Employee Scheme Inc [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Percentage of equity interest acquired | 100.00% | ||||
Beijing Camelot and its Subsidiaries [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Percentage of equity interest acquired | 82.15% | ||||
Revenue Benchmark [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated Revenue [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Concentration risk percentage | 88.00% | 97.00% | 98.10% | ||
Xiaomi Group [Member] | Electronic equipment [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Assets secured for payment of liabilities | ¥ 750,000 | $ 117,691 | |||
Beijing Yunxiang Zhisheng Technology Co Ltd [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Payment towards loans to related parties | ¥ 10,000 | ||||
Loan To Zhuhai King Soft Cloud [Member] | Beijing Kingsoft Cloud Technology Co Ltd [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Payment towards loans to related parties | ¥ 279 | ||||
Exclusive Purchase Option Agreement With Zhuhai King Soft Cloud and Nominee Shareholders [Member] | Beijing Kingsoft Cloud Technology Co Ltd [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Equity Method investment per share purchase price | ¥ / shares | ¥ 0.001 | ||||
Exclusive Consultation and Technical Fees Agreement [Member] | Beijing Kingsoft Cloud Technology Co Ltd [Member] | Zhuhai Kingsoft Cloud [Member] | |||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||
Related party transaction term of agreement for consultancy services | 20 years |
Organization and Basis of Pre_5
Organization and Basis of Presentation - Schedule of Operations and Cash Flows Results of Variable Interest (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Revenues | ¥ 9,060,784 | $ 1,421,835 | ¥ 6,577,307 | ¥ 3,956,353 |
Net loss | (1,588,712) | (249,303) | (962,259) | (1,111,199) |
Net cash used in operating activities | (708,869) | (111,236) | (290,433) | (439,132) |
Net cash used in investing activities | (421,623) | (66,162) | (4,314,003) | 883,247 |
Net cash generated from financing activities | 2,212,487 | 347,187 | 6,124,153 | 64,507 |
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Revenues | 7,972,143 | 1,251,003 | 6,377,158 | 3,882,352 |
Net loss | (1,556,904) | (244,312) | (922,908) | (970,344) |
Net cash used in operating activities | (958,748) | (150,448) | (833,479) | (785,378) |
Net cash used in investing activities | (843,586) | (132,377) | (1,471,637) | (836,981) |
Net cash generated from financing activities | ¥ 2,612,563 | $ 409,968 | ¥ 2,802,088 | ¥ 1,618,102 |
Organization and Basis of Pre_6
Organization and Basis of Presentation - Schedule of Assets Liabilities Results of Variable Interest Entities (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Current assets: | |||
Cash and cash equivalents | ¥ 4,217,528 | $ 661,822 | ¥ 3,424,674 |
Accounts receivable, net of allowance for credit losses of RMB15,745 and RMB30,082 (US$4,721) as of December 31, 2020 and 2021, respectively | 3,570,975 | 560,364 | 2,334,871 |
Prepayments and other assets | 1,687,021 | 264,730 | 887,086 |
Total current assets | 12,412,816 | 1,947,841 | 9,544,718 |
Non-current assets: | |||
Property and equipment, net | 2,364,103 | 370,979 | 1,956,790 |
Intangible assets, net | 1,169,767 | 183,562 | 16,573 |
Prepayments and other assets | 29,066 | 4,561 | 11,824 |
Goodwill | 4,625,115 | 725,781 | 0 |
Equity investments | 207,166 | 32,509 | 126,583 |
Operating lease right-of-use assets | 256,451 | 40,243 | 266,968 |
Total non-current assets | 8,665,224 | 1,359,763 | 2,384,496 |
Total assets | 21,078,040 | 3,307,604 | 11,929,214 |
Current liabilities | |||
Accounts payable | 2,938,632 | 461,135 | 2,057,355 |
Long-term bank loan, current portion | 0 | 0 | 74,351 |
Amounts due to related parties | 836,435 | 131,255 | 112,998 |
Current operating lease liabilities | 108,590 | 17,040 | 76,469 |
Total current liabilities | 7,515,880 | 1,179,405 | 3,465,599 |
Non-current liabilities | |||
Deferred tax liabilities | 205,889 | 32,308 | 29 |
Other liabilities | 1,232,677 | 193,434 | 40,578 |
Non-current operating lease liabilities | 158,289 | 24,839 | 182,958 |
Amounts due to related parties | 472,882 | 74,206 | 0 |
Total non-current liabilities | 2,069,737 | 324,787 | 223,565 |
Total liabilities | 9,585,617 | 1,504,192 | 3,689,164 |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Current assets: | |||
Cash and cash equivalents | 2,209,647 | 346,742 | 1,429,508 |
Restricted cash | 89,704 | 14,077 | |
Accounts receivable, net of allowance for credit losses of RMB15,745 and RMB30,082 (US$4,721) as of December 31, 2020 and 2021, respectively | 3,170,860 | 497,577 | 2,258,313 |
Prepayments and other assets | 907,350 | 142,383 | 630,121 |
Amounts due from related parties | 184,137 | 28,895 | 204,275 |
Amounts due from subsidiaries of the Group | 2,157,428 | 338,547 | 1,631,592 |
Total current assets | 8,719,126 | 1,368,221 | 6,153,809 |
Non-current assets: | |||
Property and equipment, net | 2,157,093 | 338,495 | 1,727,620 |
Intangible assets, net | 93,662 | 14,698 | 14,980 |
Prepayments and other assets | 27,036 | 4,243 | 9,978 |
Goodwill | 64,082 | 10,056 | |
Equity investments | 162,244 | 25,460 | 86,251 |
Amounts due from related parties | 4,712 | 739 | 4,712 |
Operating lease right-of-use assets | 184,908 | 29,016 | 210,338 |
Total non-current assets | 2,693,737 | 422,707 | 2,053,879 |
Total assets | 11,412,863 | 1,790,928 | 8,207,688 |
Current liabilities | |||
Accounts payable | 2,733,487 | 428,944 | 2,013,428 |
Accrued expenses and other liabilities | 1,208,868 | 189,698 | 521,307 |
Short-term bank loans | 1,348,166 | 211,557 | 278,488 |
Long-term bank loan, current portion | 74,351 | ||
Income tax payable | 1,026 | 161 | 45 |
Amounts due to related parties | 797,731 | 125,181 | 56,795 |
Current operating lease liabilities | 70,672 | 11,090 | 56,261 |
Amounts due to subsidiaries of the Group | 1,597,946 | 250,753 | 903,879 |
Total current liabilities | 7,757,896 | 1,217,384 | 3,904,554 |
Non-current liabilities | |||
Deferred tax liabilities | 29 | ||
Other liabilities | 6,975 | 1,095 | 7,020 |
Non-current operating lease liabilities | 121,057 | 18,996 | 146,012 |
Amounts due to related parties | 472,882 | 74,206 | |
Amounts due to subsidiaries of the Group | 7,486,525 | 1,174,799 | 7,367,267 |
Total non-current liabilities | 8,087,439 | 1,269,096 | 7,520,328 |
Total liabilities | ¥ 15,845,335 | $ 2,486,480 | ¥ 11,424,882 |
Organization and Basis of Pre_7
Organization and Basis of Presentation - Schedule of Assets Liabilities Results of Variable Interest Entities (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||
Allowanace for doubtful debt on accounts receivable current | ¥ 32,265 | $ 5,063 | ¥ 15,770 | $ 2,475 | ¥ 22,894 | ¥ 2,249 |
Variable Interest Entity, Primary Beneficiary [Member] | ||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||
Allowanace for doubtful debt on accounts receivable current | ¥ 30,082 | $ 4,721 | ¥ 15,745 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2021CNY (¥)Units | Dec. 31, 2021USD ($)Units | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2021USD ($) | Jan. 01, 2021CNY (¥) | Jan. 01, 2021USD ($) | |
Accounting Policies [Line Items] | |||||||
Closing foreign exchange rate of CNY per US$1.00 | 6.3726 | 6.3726 | |||||
Equity securities measured at fair value using alternate measurement | ¥ 207,166 | ¥ 126,583 | $ 32,509 | ||||
Equity securities without readily determinable fair value, upward price adjustment | 82,492 | $ 12,945 | 14,301 | ||||
Equity securities without readily determinable fair value, downward price adjustment | 0 | 0 | 0 | ||||
Equity securities without readily determinable fair value cumulative loss | 0 | 0 | 0 | ||||
Impairment of long lived assets | ¥ | 0 | 0 | ¥ 0 | ||||
Advertising expenses | 24,070 | 3,777 | 15,348 | 29,271 | |||
Employee benefit expenses | 310,126 | 48,666 | 126,784 | 155,848 | |||
Cash Consideration Paid | 52,493 | 8,237 | 14,650 | ¥ 94,376 | |||
Equity method investment, realized gain loss on disposal | 10,363 | $ 1,626 | |||||
Accumulated deficit | (7,458,752) | (5,864,356) | (1,170,441) | ¥ 5,684 | $ 892 | ||
Equity securities without readily determinable fair value, Upward price adjustment, Cumulative amount | ¥ 96,793 | ¥ 14,301 | $ 15,189 | ||||
Number of reporting units | Units | 2 | 2 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Property Plant and Equipment Useful Lives (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Electronic equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated Useful Life | 3 years |
Electronic equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated Useful Life | 4 years |
Office Equipment and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated Useful Life | 5 years |
Data center machinery and equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated Useful Life | 10 years |
Building [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated Useful Life | 50 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Schedule of Finite Lived Intangible Assets Useful Lives (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Others [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Useful Life | 3 years |
Customer Relationships [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Useful Life | 6 years |
Patents And Technology [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Useful Life | 6 years |
Patents And Technology [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Useful Life | 10 years |
Trade Marks And Domain Names [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Useful Life | 10 years |
Software and Copyrights [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Useful Life | 3 years |
Software and Copyrights [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Useful Life | 10 years |
Concentration of Risks - Additi
Concentration of Risks - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Concentration of Risk [Line Items] | |||
Percentage depreciation in foreign currency exchange rate | 2.30% | 6.30% | 1.30% |
Accounts Receivable [Member] | Minimum [Member] | Two Customers [Member] | Customer Concentration Risk [Member] | |||
Concentration of Risk [Line Items] | |||
Concentration risk percentage | 10.00% | 10.00% | |
Sales Revenue Net [Member] | Customer One [Member] | Customer Concentration Risk [Member] | |||
Concentration of Risk [Line Items] | |||
Concentration risk percentage | 22.00% | 10.00% | 14.00% |
Sales Revenue Net [Member] | Customer Two [Member] | Customer Concentration Risk [Member] | |||
Concentration of Risk [Line Items] | |||
Concentration risk percentage | 13.00% | 28.00% | 31.00% |
Sales Revenue Net [Member] | Customer Three [Member] | Customer Concentration Risk [Member] | |||
Concentration of Risk [Line Items] | |||
Concentration risk percentage | 15.00% | 12.00% | |
Contract asset [Member] | Customer One [Member] | Customer Concentration Risk [Member] | |||
Concentration of Risk [Line Items] | |||
Concentration risk percentage | 10.00% |
Business Combination - Summary
Business Combination - Summary of fair value of assets acquired and liabilities assumed (Detail) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021CNY (¥) | Sep. 30, 2021USD ($) | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Intangible assets: | ||||||
Goodwill | ¥ 4,625,115 | $ 725,781 | ¥ 0 | |||
Camelot Group [Member] | ||||||
Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed [Line Items] | ||||||
Total fair value of purchase consideration | ¥ 5,290,553 | $ 830,203 | 5,290,553 | $ 830,203 | ||
Cash and cash equivalents | 618,439 | 97,047 | ||||
Restricted cash | 1,126 | 177 | ||||
Accounts receivable and other assets | 940,297 | 147,553 | ||||
Property and equipment, net | 12,224 | 1,918 | ||||
Intangible assets: | ||||||
Deferred tax assets | 59,060 | 9,268 | ||||
Deferred tax liabilities | (268,490) | (42,132) | ||||
Accounts payable and other liabilities | (878,885) | (137,916) | ||||
Non-controlling interests | (882,451) | (138,476) | ||||
Goodwill | 4,561,033 | 715,725 | ||||
Customer Relationships [Member] | Camelot Group [Member] | ||||||
Intangible assets: | ||||||
Intangible assets | 620,100 | 97,307 | ||||
Trademarks [Member] | Camelot Group [Member] | ||||||
Intangible assets: | ||||||
Intangible assets | 474,000 | 74,381 | ||||
Copyrights [Member] | Camelot Group [Member] | ||||||
Intangible assets: | ||||||
Intangible assets | ¥ 34,100 | $ 5,351 |
Business Combination - Addition
Business Combination - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2021CNY (¥) | Sep. 30, 2021USD ($) | Mar. 31, 2021CNY (¥) | Mar. 31, 2021USD ($) | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2021USD ($) | Apr. 30, 2021CNY (¥) | Apr. 30, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Goodwill | ¥ 4,625,115 | $ 725,781 | ¥ 0 | |||||||
Shenzhen Yunfan [Member] | ||||||||||
Percentage of equity interests acquired | 100.00% | 100.00% | ||||||||
Cash consideration paid | ¥ 126,400 | $ 19,835 | ||||||||
Business combination intangible assets acquired | 77,000 | 12,083 | ||||||||
Goodwill | 48,814 | 7,660 | ||||||||
Business Combination Recognized Identifiable Net Assets | 586 | 92 | ||||||||
Beijing Yunshu [Member] | ||||||||||
Percentage of equity interests acquired | 86.21% | 86.21% | ||||||||
Contingent consideration payable | ¥ 7,034 | $ 1,104 | ||||||||
Camelot Group [Member] | ||||||||||
Cash consideration paid | ¥ 751,974 | $ 118,001 | ||||||||
Goodwill | 4,561,033 | $ 715,725 | ||||||||
Consideration paid | 5,290,553 | 830,203 | ¥ 5,290,553 | $ 830,203 | ||||||
Equity settled consideration | ¥ 4,538,579 | $ 712,202 |
Revenues - Summary of Disaggreg
Revenues - Summary of Disaggregation of Revenue (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | ¥ 9,060,784 | $ 1,421,835 | ¥ 6,577,307 | ¥ 3,956,353 |
Public Cloud Services [Member] | Transferred over Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 6,159,085 | 966,495 | 5,166,851 | 3,458,843 |
Enterprise Cloud Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 2,897,817 | 454,731 | 1,372,689 | 486,308 |
Enterprise Cloud Services [Member] | Transferred at Point in Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 2,159,869 | 338,931 | 1,368,544 | 485,991 |
Enterprise Cloud Services [Member] | Transferred over Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 737,948 | 115,800 | 4,145 | 317 |
Product and Service, Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 3,882 | 609 | 37,767 | 11,202 |
Product and Service, Other [Member] | Transferred at Point in Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | 1,208 | 190 | 36,611 | ¥ 11,202 |
Product and Service, Other [Member] | Transferred over Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer, excluding assessed tax | ¥ 2,674 | $ 419 | ¥ 1,156 |
Revenues - Summary of Revenue,
Revenues - Summary of Revenue, Remaining Performance Obligation (Detail) - Dec. 31, 2021 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue remaining performance obligation | ¥ 51,357 | $ 8,059 |
Within One Year [Member] | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue remaining performance obligation | 27,852 | 4,371 |
More Than One Year [Member] | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue remaining performance obligation | ¥ 23,505 | $ 3,688 |
Revenues - Summary of Contract
Revenues - Summary of Contract with Customer Liability Recognized (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Revenue Recognition and Deferred Revenue [Abstract] | ||||
Revenue recognized from amounts included in contract liabilities at the beginning of the period | ¥ 112,221 | $ 17,610 | ¥ 37,550 | ¥ 22,782 |
Accounts Receivable, Net - Sche
Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | ||||||
Accounts receivable | ¥ 3,603,240 | $ 565,427 | ¥ 2,350,641 | |||
Allowance for credit losses | (32,265) | (5,063) | (15,770) | $ (2,475) | ¥ (22,894) | ¥ (2,249) |
Accounts receivable, net | ¥ 3,570,975 | $ 560,364 | ¥ 2,334,871 |
Accounts Receivable, Net - Sc_2
Accounts Receivable, Net - Schedule of the Movement in the allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | |||||
Balance at beginning of the year | ¥ 15,770 | $ 2,475 | ¥ 22,894 | ¥ 2,249 | |
Adoption of ASC 326 | 5,684 | $ 892 | |||
Provision for expected credit losses | 121,731 | 19,102 | 44,695 | 61,687 | |
Write-offs charged against the allowance | (101,202) | (15,881) | (44,096) | (41,042) | |
Recoveries during the year | (9,718) | (1,525) | (7,723) | ||
Balance at end of the year | ¥ 32,265 | $ 5,063 | ¥ 15,770 | $ 2,475 | ¥ 22,894 |
Accounts Receivable, Net - Addi
Accounts Receivable, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Jan. 01, 2021CNY (¥) | Jan. 01, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | |||||
Increase in accumulated deficit | ¥ (7,458,752) | $ (1,170,441) | ¥ 5,684 | $ 892 | ¥ (5,864,356) |
Prepayments and Other Assets -
Prepayments and Other Assets - Additional Information (Detail) - 12 months ended Dec. 31, 2021 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) | USD ($) |
Prepayments and Other Assets [Abstract] | |||
Contract with customer, asset, allowance for credit loss | ¥ 1,591 | $ 250 | |
Contract with customer asset credit loss expense | 2,100 | $ 330 | |
Contract with customer asset, Allowance for credit loss, Writeoff | ¥ 509 | $ 80 |
Prepayments and Other Assets _2
Prepayments and Other Assets - Schedule of Prepayments and Other Assets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Current portion: | |||
Prepayments to suppliers | ¥ 162,528 | $ 25,504 | ¥ 78,621 |
Contract costs | 145,628 | 22,852 | 13,882 |
Contract assets, net | 550,068 | 86,318 | |
VAT prepayments | 619,391 | 97,196 | 470,567 |
Interest receivable | 21,463 | 3,368 | 14,204 |
Individual income tax receivable | 48,949 | 7,681 | 231,377 |
Others | 138,994 | 21,811 | 78,435 |
Total | 1,687,021 | 264,730 | 887,086 |
Non-current portion: | |||
Prepayments for electronic equipment | 25,388 | 3,984 | 8,978 |
Others | 3,678 | 577 | 2,846 |
Total | ¥ 29,066 | $ 4,561 | ¥ 11,824 |
Property and Equipment, Net - S
Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | ¥ 5,446,524 | $ 854,678 | ¥ 4,314,665 |
Less: accumulated depreciation | (3,082,421) | (483,699) | (2,357,875) |
Property and equipment, net | 2,364,103 | 370,979 | 1,956,790 |
Electronic Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 5,123,149 | 803,934 | 4,164,384 |
Office Equipment and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 15,462 | 2,426 | 9,759 |
Data Center Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 144,328 | 22,648 | 135,068 |
Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 15,768 | 2,474 | |
Construction in progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | ¥ 147,817 | $ 23,196 | ¥ 5,454 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation expense | ¥ 783,305 | $ 122,918 | ¥ 750,375 | ¥ 601,730 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization of Intangible Assets | ¥ 72,299 | $ 11,345 | ¥ 7,663 | ¥ 2,851 |
Intangible Assets, Net - Schedu
Intangible Assets, Net - Schedule of Intangible Assets, Net (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | ¥ 1,260,487 | $ 197,798 | ¥ 35,296 |
Less: accumulated amortization | (90,720) | (14,236) | (18,723) |
Intangible assets, net | 1,169,767 | 183,562 | 16,573 |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 620,100 | 97,307 | |
Less: accumulated amortization | (32,637) | (5,121) | |
Patents and Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 67,900 | 10,655 | |
Less: accumulated amortization | (8,138) | (1,277) | |
Trade Marks and Domain Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 497,098 | 78,006 | 7,020 |
Less: accumulated amortization | (20,722) | (3,252) | (3,035) |
Software and Copyrights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 71,752 | 11,259 | 20,807 |
Less: accumulated amortization | (26,692) | (4,189) | (10,268) |
Other Intangible Assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 3,637 | 571 | 7,469 |
Less: accumulated amortization | ¥ (2,531) | $ (397) | ¥ (5,420) |
Intangible Assets, Net - Sche_2
Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2022 | ¥ 171,065 | $ 26,844 | |
2023 | 170,140 | 26,699 | |
2024 | 168,476 | 26,438 | |
2025 | 166,454 | 26,120 | |
2026 and thereafter | 493,632 | 77,461 | |
Intangible assets, net | ¥ 1,169,767 | $ 183,562 | ¥ 16,573 |
Goodwill - Summary of Carrying
Goodwill - Summary of Carrying Value of Goodwill (Detail) - 12 months ended Dec. 31, 2021 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Goodwill [Line Items] | ||
Beginning balance | ¥ 0 | |
Goodwill acquired in business combinations (Note 4) | 4,625,115 | |
Ending balance | ¥ 4,625,115 | $ 725,781 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Goodwill [Line Items] | |||
Goodwill | ¥ 4,625,115 | $ 725,781 | ¥ 0 |
Cloud Service And Solutions [Member] | |||
Goodwill [Line Items] | |||
Goodwill | 3,669,031 | 575,751 | |
Cloud Based Digital Solution And Services [Member] | |||
Goodwill [Line Items] | |||
Goodwill | ¥ 956,084 | $ 150,030 |
Leases - Additional Information
Leases - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Leases [Abstract] | |||
Weighted average remaining lease term for operating lease | 8 years 3 months 18 days | 8 years 3 months 18 days | 9 years 8 months 12 days |
Weighted average discount rate for operating lease | 6.18% | 6.18% | 6.36% |
Operating lease cost | ¥ 65,641 | $ 10,301 | ¥ 52,890 |
Short-term lease cost | ¥ 11,317 | $ 1,776 | ¥ 3,036 |
Leases - Summary of Undiscounte
Leases - Summary of Undiscounted Future Minimum Payments under the Group's Operating Lease Liabilities (Detail) - Dec. 31, 2021 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||
2022 | ¥ 110,472 | $ 17,335 |
2023 | 59,238 | 9,296 |
2024 | 50,526 | 7,929 |
2025 | 29,347 | 4,605 |
2026 and thereafter | 72,078 | 11,311 |
Total future lease payments | 321,661 | 50,476 |
Less: imputed interest | (54,782) | (8,597) |
Total lease liability balance | ¥ 266,879 | $ 41,879 |
Accrued Expenses and Other Li_3
Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Current portion: | ||||
Customer advances | [1] | ¥ 378,957 | $ 59,467 | ¥ 191,357 |
Salary and welfare payable | 600,775 | 94,275 | 117,506 | |
Purchase of property and equipment | 759,391 | 119,165 | 181,038 | |
Accrued expenses | 116,021 | 18,206 | 44,559 | |
Other tax and surcharges payable | 91,287 | 14,325 | 25,227 | |
Deferred government grants | 8,488 | 1,332 | 10,321 | |
Purchase consideration payable | [2] | 148,038 | 23,230 | |
Individual income tax payable | [3] | 48,949 | 7,681 | 231,377 |
Others | [4] | 71,934 | 11,288 | 43,989 |
Accounts payable and accrued liabilities current | 2,223,840 | 348,969 | 845,374 | |
Non-current portion: | ||||
Deferred government grants | 6,975 | 1,095 | 7,020 | |
Purchase consideration payable | [2] | 1,180,470 | 185,242 | |
Others | [5] | 45,232 | 7,097 | 33,558 |
Accounts payable and accrued liabilities noncurrent | ¥ 1,232,677 | $ 193,434 | ¥ 40,578 | |
[1] | The amount represents contract liabilities for rendering of services. The increase in customer advances as compared to the year ended December 31, 2020 is a result of the increase in consideration received from the Group’s customers. | |||
[2] | The amount represents purchase consideration to acquire Camelot Group. RMB148,038 (US$23,230) will be settled by April 30, 2022 and RMB1,180,470 (US$185,242) will be settled by June 30, 2023, among which RMB921,496 (US$144,603) will be settled by the Company’s ordinary shares. | |||
[3] | Represents amounts due from certain employees related to their individual income taxes (“IIT”) arising from exercise and vesting of share-based awards. | |||
[4] | In July 2020, the Company received a reimbursement of US$7,469 (equivalent to RMB47,597) from the depository for the establishment and maintenance of the ADS program (“ADS Reimbursement”). As of December 31, 2020 and 2021, RMB10,083 and RMB9,836 (US$1,508) were included in the current portion, and RMB33,558 and RMB22,989 (US$3,523) were included in the non-current portion of accrued expenses and other liabilities, respectively. The ADS Reimbursement will be released to the consolidated statements of comprehensive loss in equal amounts over the ADS program term. | |||
[5] | In July 2020, the Company received a reimbursement of US$7,469 (equivalent to RMB47,597) from the depository for the establishment and maintenance of the ADS program (“ADS Reimbursement”). As of December 31, 2020 and 2021, RMB10,083 and RMB9,836 (US$1,543) were included in the current portion, and RMB33,558 and RMB22,989 (US$3,607) were included in the non-current portion of accrued expenses and other liabilities, respectively. The ADS Reimbursement will be released to the consolidated statements of comprehensive loss in equal amounts over the ADS program term. |
Accrued Expenses and Other Li_4
Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | 1 Months Ended | |||||||||
Jul. 31, 2020CNY (¥) | Jul. 31, 2020USD ($) | Jun. 30, 2023CNY (¥) | Jun. 30, 2023USD ($) | Apr. 30, 2022CNY (¥) | Apr. 30, 2022USD ($) | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | ||
Other accrued liabilities recorded as current | [1] | ¥ 71,934 | $ 11,288 | ¥ 43,989 | ||||||
Other accrued liabilities recorded as noncurrent | [2] | 45,232 | 7,097 | 33,558 | ||||||
Purchase consideration payable, Current | [3] | 148,038 | 23,230 | |||||||
Purchase consideration payable, Non current | [3] | 1,180,470 | 185,242 | |||||||
Camelot Group [Member] | ||||||||||
Purchase consideration payable, Current | ¥ 148,038 | $ 23,230 | ||||||||
Purchase consideration payable, Non current | ¥ 1,180,470 | $ 185,242 | ||||||||
Camelot Group [Member] | Common Stock [Member] | ||||||||||
Business acquisition, Equity interest issued or issuable, Value assigned | 921,496 | 144,603 | ||||||||
Other Current Liabilities [member] | ||||||||||
Other accrued liabilities recorded as current | 9,836 | 1,543 | 10,083 | |||||||
Other Noncurrent Liabilities [member] | ||||||||||
Other accrued liabilities recorded as noncurrent | ¥ 22,989 | $ 3,607 | ¥ 33,558 | |||||||
ADS Reimbursement [member] | ||||||||||
Reimbursement received from the depository for the establishment and maintenance of the ADS program | ¥ 47,597 | $ 7,469 | ||||||||
[1] | In July 2020, the Company received a reimbursement of US$7,469 (equivalent to RMB47,597) from the depository for the establishment and maintenance of the ADS program (“ADS Reimbursement”). As of December 31, 2020 and 2021, RMB10,083 and RMB9,836 (US$1,508) were included in the current portion, and RMB33,558 and RMB22,989 (US$3,523) were included in the non-current portion of accrued expenses and other liabilities, respectively. The ADS Reimbursement will be released to the consolidated statements of comprehensive loss in equal amounts over the ADS program term. | |||||||||
[2] | In July 2020, the Company received a reimbursement of US$7,469 (equivalent to RMB47,597) from the depository for the establishment and maintenance of the ADS program (“ADS Reimbursement”). As of December 31, 2020 and 2021, RMB10,083 and RMB9,836 (US$1,543) were included in the current portion, and RMB33,558 and RMB22,989 (US$3,607) were included in the non-current portion of accrued expenses and other liabilities, respectively. The ADS Reimbursement will be released to the consolidated statements of comprehensive loss in equal amounts over the ADS program term. | |||||||||
[3] | The amount represents purchase consideration to acquire Camelot Group. RMB148,038 (US$23,230) will be settled by April 30, 2022 and RMB1,180,470 (US$185,242) will be settled by June 30, 2023, among which RMB921,496 (US$144,603) will be settled by the Company’s ordinary shares. |
Bank Loans - Schedule of Bank L
Bank Loans - Schedule of Bank Loans (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Schedule of Debt [Line Items] | |||
Short-term bank loans | ¥ 1,348,166 | $ 211,557 | ¥ 278,488 |
Long-term third-party bank loan guaranteed by a related party: | |||
Current portion | 0 | 0 | 74,351 |
Bank loan, total | ¥ 1,348,166 | $ 211,557 | ¥ 352,839 |
Bank Loans - Additional Informa
Bank Loans - Additional Information (Detail) | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of Debt [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate | 4.59% | 4.28% |
Taxation - Additional Informati
Taxation - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Income Tax Disclosure [Line Items] | |||||
Unrecognized tax benefits | ¥ 59,049 | ¥ 12,613 | ¥ 0 | $ 9,266 | $ 1,979 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 15,954 | 0 | 2,504 | ||
Liability for Uncertainty in Income Taxes, Noncurrent | 15,954 | 0 | 2,504 | ||
Unrecognized Tax Benefits Setoff Against Deferred Tax Assets | 43,095 | ¥ 12,613 | 6,762 | ||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 0 | ||||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | ¥ 0 | ||||
Tax Withholding on Payment of Interest and Dividends to Non PRC Resident Enterprises [Member] | |||||
Income Tax Disclosure [Line Items] | |||||
Tax withholding rates on interest and dividend payments | 10.00% | 10.00% | 10.00% | ||
HK | |||||
Income Tax Disclosure [Line Items] | |||||
Income tax rate | 16.50% | 16.50% | 16.50% | ||
Operating loss carryforwards | ¥ 7,485,149 | 1,174,583 | |||
CN | |||||
Income Tax Disclosure [Line Items] | |||||
Income tax rate | 25.00% | 25.00% | 25.00% | ||
Operating loss carryforwards | ¥ 7,485,149 | $ 1,174,583 | |||
CN | Beijing Kingsoft Cloud Network Technology Co Ltd | Preferential Income Tax Rate [Member] | |||||
Income Tax Disclosure [Line Items] | |||||
Income tax rate | 15.00% |
Taxation - Schedule of Income B
Taxation - Schedule of Income Before Income Tax, Domestic and Foreign (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
PRC | ¥ (1,646,607) | $ (258,388) | ¥ (1,095,015) | ¥ (1,167,367) |
Non-PRC | 70,592 | 11,077 | 147,721 | 65,171 |
Loss before income taxes | ¥ (1,576,015) | $ (247,311) | ¥ (947,294) | ¥ (1,102,196) |
Taxation - Schedule of Componen
Taxation - Schedule of Components of Income Tax Expense (Benefit) (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
Current income tax expense | ¥ 27,593 | $ 4,330 | ¥ 15,081 | ¥ 9,180 |
Deferred income tax benefit | (11,852) | (1,860) | (177) | (177) |
Income tax expense | ¥ 15,741 | $ 2,470 | ¥ 14,904 | ¥ 9,003 |
Taxation - Schedule of Effectiv
Taxation - Schedule of Effective Income Tax Rate Reconciliation (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
Loss before income tax | ¥ (1,576,015) | $ (247,311) | ¥ (947,294) | ¥ (1,102,196) |
Income tax computed at the PRC statutory tax rate of 25% | (394,004) | (61,828) | (236,824) | (275,549) |
Effect of tax holiday and preferential tax rates | 7,083 | 1,111 | (44,121) | 11,493 |
Effect of different tax rates in different jurisdictions | (1,681) | (264) | 10,580 | (11,626) |
Other non-taxable income | (24,999) | (3,923) | (35,454) | (21,557) |
Non-deductible expenses | 36,719 | 5,762 | 14,060 | 64,095 |
Share based compensation costs | 108,588 | 17,040 | 82,528 | 30,320 |
Research and development super deduction | (146,639) | (23,011) | (113,388) | (94,401) |
Withholding tax and others | 9,552 | 1,499 | 11,581 | 9,180 |
Change in valuation allowance | 434,056 | 68,113 | 399,756 | 259,031 |
True-up adjustments in respect of prior year's annual tax filing | (3,474) | (545) | (83,342) | |
Tax rate change on deferred items | (9,460) | (1,484) | 9,528 | 38,017 |
Income tax expense | ¥ 15,741 | $ 2,470 | ¥ 14,904 | ¥ 9,003 |
Taxation - Schedule of Deferred
Taxation - Schedule of Deferred Tax Assets and Liabilities (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Deferred tax assets: | |||
Tax loss carried forward | ¥ 1,841,192 | $ 288,923 | ¥ 1,454,702 |
Accrued expenses | 235,737 | 36,992 | 56,111 |
Depreciation | 7,082 | 1,111 | 4,990 |
Allowance for doubtful accounts | 53,436 | 8,385 | 3,156 |
Government grant | 4,266 | 669 | 6,175 |
Operating lease liabilities | 63,781 | 10,009 | 56,706 |
Accrued interest | 170,337 | 26,730 | 66,609 |
Others | 2,737 | 430 | 0 |
Less: valuation allowance | (1,881,873) | (295,307) | (1,401,416) |
Deferred tax assets, net | 496,695 | 77,942 | 247,033 |
Deferred tax liabilities: | |||
Operating lease right-of-use assets | 57,300 | 8,992 | 54,658 |
One-time deduction for fixed asset purchases | 337,564 | 52,970 | 191,107 |
Long-lived assets arising from business acquisitions | 277,267 | 43,509 | 29 |
Others | 22,655 | 3,555 | 1,268 |
Deferred Tax Liabilities, Gross | ¥ 694,786 | $ 109,026 | ¥ 247,062 |
Taxation - Schedule of Deferr_2
Taxation - Schedule of Deferred Tax Assets and Liabilities (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Income Tax Disclosure [Abstract] | |||
Deferred tax assets gross | ¥ 2,378,568 | $ 373,249 | ¥ 1,648,449 |
Valuation allowance on deferred tax assets | ¥ 1,881,873 | $ 295,307 | ¥ 1,401,416 |
Taxation - Summary of Unrecogni
Taxation - Summary of Unrecognized Tax Benefit (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Income Tax Uncertainties [Abstract] | |||
Balance at beginning of the year | ¥ 12,613 | $ 1,979 | ¥ 0 |
Additions from the business acquisitions | 19,551 | 3,068 | 0 |
Additions based on tax positions related to current year | 26,885 | 4,219 | 12,613 |
Balance at end of the year | ¥ 59,049 | $ 9,266 | ¥ 12,613 |
Convertible Preferred Shares _2
Convertible Preferred Shares and Redeemable Convertible Preferred Shares - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Jan. 08, 2020USD ($)shares | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Jan. 01, 2020shares |
Convertible Preferred Stock and Redeemable Convertible Preferred Stock [Line Items] | ||||
Proceeds from redeemable convertible preferred stock | ¥ | ¥ 124,730 | ¥ 349,395 | ||
Series A Convertible Preferred Shares [Member] | ||||
Convertible Preferred Stock and Redeemable Convertible Preferred Stock [Line Items] | ||||
Preferred stock, shares issued | 458,116,000 | |||
Preferred stock, shares outstanding | 458,116,000 | |||
Series B Convertible Preferred Shares [Member] | ||||
Convertible Preferred Stock and Redeemable Convertible Preferred Stock [Line Items] | ||||
Temporary equity, shares issued | 153,603,600 | |||
Temporary equity, shares outstanding | 153,603,600 | |||
Series C Convertible Preferred Shares [Member] | ||||
Convertible Preferred Stock and Redeemable Convertible Preferred Stock [Line Items] | ||||
Temporary equity, shares issued | 185,665,192 | |||
Temporary equity, shares outstanding | 185,665,192 | |||
Series D Convertible Preferred Shares [Member] | ||||
Convertible Preferred Stock and Redeemable Convertible Preferred Stock [Line Items] | ||||
Temporary equity, shares issued | 842,738,782 | |||
Temporary equity, shares outstanding | 842,738,782 | |||
Series D+ Convertible Preferred Shares [Member] | ||||
Convertible Preferred Stock and Redeemable Convertible Preferred Stock [Line Items] | ||||
Temporary equity, shares issued | 55,089,998 | |||
Temporary equity, shares outstanding | 55,089,998 | |||
Proceeds from redeemable convertible preferred stock | $ | $ 20,000 | |||
Temporary equity shares issued during the period shares | 22,035,999 |
Share-based Payments - Summary
Share-based Payments - Summary of the activity under the Share Option Scheme (Detail) - Share Options Scheme [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of options - Outstanding | 86,759,375 | |
Number of options - Granted | 12,292,710 | |
Number of options - Forfeited | (7,384,942) | |
Number of options - Exercised | (29,906,941) | |
Number of options - Outstanding | 61,760,202 | 86,759,375 |
Number of options - Vested and expected | 61,760,202 | |
Number of options - Exercisable | 28,437,976 | |
Weighted- average exercise price - Outstanding | $ 0.07 | |
Weighted- average exercise price - Granted | 0.07 | |
Weighted- average exercise price - Forfeited | 0.07 | |
Weighted- average exercise price - Exercised | 0.07 | |
Weighted- average exercise price - Outstanding | 0.07 | $ 0.07 |
Weighted- average exercise price - Vested and expected | 0.07 | |
Weighted- average exercise price - Exercisable | 0.07 | |
Weighted- average grant- date fair value - Outstanding | 0.54 | |
Weighted- average grant- date fair value - Forfeited | 1.38 | |
Weighted- average grant- date fair value - Granted | 2.80 | |
Weighted- average grant- date fair value - Exercised | 0.71 | |
Weighted- average grant- date fair value - Outstanding | 0.87 | $ 0.54 |
Weighted- average grant- date fair value - Vested and expected | 0.87 | |
Weighted- average grant- date fair value - Exercisable | $ 0.46 | |
Weighted- average remaining contractual term - Outstanding | 6 years 7 months 9 days | 7 years 1 month 13 days |
Weighted- average remaining contractual term - Vested and expected | 6 years 7 months 9 days | |
Weighted- average remaining contractual term - Exercisable | 5 years 2 months 19 days | |
Aggregate intrinsic value - Outstanding | $ 0.98 | $ 2.83 |
Aggregate intrinsic value - Vested and expected | 0.98 | |
Aggregate intrinsic value - Exercisable | $ 0.98 |
Share-based Payments - Addition
Share-based Payments - Additional Information (Detail) $ / shares in Units, ¥ in Thousands | Mar. 31, 2021USD ($)shares | Dec. 21, 2019shares | Dec. 31, 2021CNY (¥)shares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020$ / shares | Dec. 31, 2020CNY (¥) | Dec. 31, 2019$ / shares | Dec. 31, 2019CNY (¥) | Dec. 31, 2021USD ($) | Mar. 31, 2021CNY (¥) | Mar. 31, 2021USD ($) | Dec. 31, 2018shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Restricted shares, total weighted average grant-date fair value granted | $ / shares | $ 2.04 | $ 0.78 | $ 0.74 | |||||||||
Restricted shares,Aggregate Fair value | ¥ 90,121 | $ 14,142,000 | ¥ 91,683 | ¥ 19,580 | ||||||||
Maximum [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrangement vesting period | 3 years | |||||||||||
Minimum [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrangement vesting period | 1 year | |||||||||||
Share-based Payment Arrangement [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrrangement intrinsic value of options excercised during the period | 79,224 | $ 12,432,000 | 906,120 | 308,665 | ||||||||
Share based compensation by share based payment arrangement weighted average grant date fair value of awards granted during the period | $ / shares | $ 2.80 | 1.16 | 0.65 | |||||||||
Share based compensation by share based payment arrangement aggregatte fair value of shares vested during the period | 51,892 | $ 8,143,000 | 44,135 | 36,060 | ||||||||
Share based compensation by share based payment arrangement unrecognised compensation | ¥ 119,582 | $ 18,765,000 | ||||||||||
Share based compensation by share based payment arrangement unrecognized compensation recognition period | 1 year 4 months 28 days | 1 year 4 months 28 days | ||||||||||
Share Options Scheme [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrangement number of shares authorised | 209,750,000 | |||||||||||
Share based compensation by share based payment arrrangement intrinsic value of options excercised during the period | ¥ 1,561 | $ 245,000 | 3,230 | |||||||||
Share based compensation by share based payment arrangement weighted average grant date fair value of awards granted during the period | $ / shares | $ 2.80 | |||||||||||
Share based compensation by share based payment arrangement unrecognized compensation recognition period | 1 year 10 months 9 days | 1 year 10 months 9 days | ||||||||||
Share based compensation by share based payment arrangement unrecognised compensation | ¥ 315,641 | 49,531,000 | ||||||||||
Number of options - Exercised | 29,906,941 | 29,906,941 | ||||||||||
Share based compensation by share based payment arrangement awards granted | 12,292,710 | 12,292,710 | ||||||||||
Restricted Stock [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrangement unrecognized compensation recognition period | 2 years | |||||||||||
Share based compensation by share based payment arrangement unrecognised compensation | ¥ 101,871 | $ 15,986,000 | ||||||||||
Restricted shares, Number of shares Granted | 11,684,432 | |||||||||||
Restricted shares,Aggregate Fair value | $ | $ 2,278,360,000 | |||||||||||
Camelot Award [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrangement vesting period | 3 years | 3 years | ||||||||||
Share based compensation by share based payment arrangement unrecognized compensation recognition period | 1 year 8 months 1 day | 1 year 8 months 1 day | ||||||||||
Share based compensation by share based payment arrangement unrecognised compensation | ¥ 95,165 | 14,933,000 | ||||||||||
2013 Share Award Scheme [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrangement number of shares authorised | 215,376,304 | |||||||||||
Share based compensation by share based payment arrangement weighted average grant date fair value of awards granted during the period | $ / shares | $ 0.31 | $ 0.31 | $ 0.30 | |||||||||
Share based compensation by share based payment arrangement aggregatte fair value of shares vested during the period | ¥ 16,192 | $ 2,541,000 | ¥ 15,981 | ¥ 0 | ||||||||
Share based compensation by share based payment arrangement unrecognized compensation recognition period | 1 year 1 month 28 days | 1 year 1 month 28 days | ||||||||||
Share based compensation by share based payment arrangement unrecognised compensation | ¥ 12,898 | $ 2,024,000 | ||||||||||
Number of options - Exercised | 0 | 8,081,820 | 8,081,820 | |||||||||
Restricted shares, Number of shares Granted | 29,076,828 | 29,076,828 | ||||||||||
Restricted shares, total weighted average grant-date fair value granted | $ / shares | $ 2.04 | |||||||||||
2021 Share Award Scheme [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
Share based compensation by share based payment arrangement number of shares authorised | 209,216,310 | |||||||||||
Share based compensation by share based payment arrangement awards granted | 0 | 0 |
Share-based Payments - Summar_2
Share-based Payments - Summary of the activity for the restricted shares issued under the Share Award Scheme (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value - Granted | $ 2.04 | $ 0.78 | $ 0.74 |
2013 Share Award Scheme [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares - Outstanding | 53,602,560 | ||
Number of shares - Granted | 29,076,828 | ||
Number of shares - Vested | (19,020,640) | ||
Number of shares - Forfeited | (5,671,482) | ||
Number of shares - Outstanding | 57,987,266 | 53,602,560 | |
Number of shares - Expected to vest | 57,987,266 | ||
Weighted-average grant date fair value - Outstanding | $ 0.76 | ||
Weighted-average grant date fair value - Granted | 2.04 | ||
Weighted-average grant date fair value - Vested | 0.71 | ||
Weighted-average grant date fair value - Forfeited | 1.61 | ||
Weighted-average grant date fair value - Outstanding | 1.32 | $ 0.76 | |
Weighted-average grant date fair value - Expected to vest | $ 1.32 |
Share-based Payments - Summar_3
Share-based Payments - Summary of the activity for the options issued under the Share Award Scheme (Detail) - 2013 Share Award Scheme [Member] - USD ($) | Dec. 21, 2019 | Dec. 31, 2021 | Dec. 31, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options - Outstanding | 37,191,840 | ||
Number of options - Forfeited | (1,241,600) | ||
Number of options - Exercised | 0 | (8,081,820) | |
Number of options - Outstanding | 27,868,420 | 37,191,840 | |
Number of options - Vested and expected | 27,868,420 | ||
Number of options - Exercisable | 12,566,340 | ||
Weighted- average exercise price - Outstanding | $ 0.82 | ||
Weighted- average exercise price - Forfeited | 0.87 | ||
Weighted- average exercise price - Exercised | 0.64 | ||
Weighted- average exercise price - Outstanding | 0.83 | $ 0.82 | |
Weighted- average exercise price - Vested and expected | 0.83 | ||
Weighted- average exercise price - Exercisable | 0.80 | ||
Weighted- average grant- date fair value - Outstanding | 0.31 | ||
Weighted- average grant- date fair value - Forfeited | 0.30 | ||
Weighted- average grant- date fair value - Exercised | 0.33 | ||
Weighted- average grant- date fair value - Outstanding | 0.31 | $ 0.31 | |
Weighted- average grant date fair value - Vested and expected | 0.31 | ||
Weighted- average grant- date fair value - Exercisable | $ 0.30 | ||
Weighted- average remaining contractual term - Outstanding | 7 years 11 months 26 days | 9 years | |
Weighted- average remaining contractual term - Vested and expected | 7 years 11 months 26 days | ||
Weighted- average remaining contractual term - Exercisable | 8 years | ||
Aggregate intrinsic value - Outstanding | $ 0.22 | $ 2.09 | |
Aggregate intrinsic value - Vested and expected | 0.22 | ||
Aggregate intrinsic value - Exercisable | $ 0.25 |
Share-based Payments - Summar_4
Share-based Payments - Summary of assumptions used to estimate the fair value of the share options (Detail) - $ / shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 08, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Risk-free rate, Minimum | 1.13% | 0.66% | 1.58% | |
Risk-free rate, Maximum | 1.62% | 1.84% | 1.80% | |
Expected volatility range, Minimum | 36.28% | 37.30% | 37.40% | |
Expected volatility range, Maximum | 38.03% | 37.80% | 37.90% | |
Exercise multiple, Minimum | 2.20 | 2.20 | 2.20 | |
Exercise multiple, Maximum | 2.80 | 2.80 | 2.80 | |
Share Price | $ 0.76 | |||
Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share Price | $ 1.97 | $ 0.76 | $ 0.72 | |
Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share Price | $ 3.49 | $ 1.94 | $ 0.76 |
Share-based Payments - Summar_5
Share-based Payments - Summary of acquisition date fair value of each share-based award is estimated (Detail) | 12 Months Ended | |
Dec. 31, 2021¥ / shares | Jan. 08, 2020$ / shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Fair market value per ordinary share as at valuation dates | $ / shares | $ 0.76 | |
Camelot Award [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk-free rate | 0.21% | |
Expected volatility range | 50.56% | |
Exercise multiple | 2.20 | |
Fair market value per ordinary share as at valuation dates | ¥ / shares | ¥ 23 |
Share-based Payments - Summar_6
Share-based Payments - Summary of share-based compensation expense (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021USD ($) | Dec. 31, 2021CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019USD ($) | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based Compensation Expense | $ 68,159 | ¥ 434,350 | ¥ 330,114 | $ 121,279 |
Cost of revenues [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based Compensation Expense | 2,743 | 17,481 | 10,614 | 8,509 |
Selling and marketing expenses [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based Compensation Expense | 11,392 | 72,594 | 62,270 | 37,808 |
General and administrative expenses [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based Compensation Expense | 30,425 | 193,886 | 169,101 | 31,988 |
Research and development expenses [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based Compensation Expense | $ 23,599 | ¥ 150,389 | ¥ 88,129 | $ 42,974 |
Restricted Net Assets - Additio
Restricted Net Assets - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | |
Restricted Assets Disclosure [Line Items] | ||
Reserve Fund As a Percentage Of Registered Capital | 50.00% | 50.00% |
Variable Interest Entity, Primary Beneficiary [Member] | CHINA | ||
Restricted Assets Disclosure [Line Items] | ||
Restricted assets | ¥ 3,438,575 | $ 539,587 |
Minimum [Member] | Variable Interest Entity, Primary Beneficiary [Member] | CHINA | ||
Restricted Assets Disclosure [Line Items] | ||
Percentage Of Annual After Tax Profit To Be Allocated To Statutory Reserves | 10.00% | |
Statutory Funds As A Percentage Of Registered Capital | 50.00% | |
Minimum [Member] | Subsidiaries [Member] | CHINA | ||
Restricted Assets Disclosure [Line Items] | ||
Percentage Of Annual After Tax Profit to Be Allocated To Reserve Fund | 10.00% | |
Percentage Of Annual After Tax Profit To Be Allocated To Statutory Reserves | 10.00% | |
Statutory Funds As A Percentage Of Registered Capital | 50.00% |
Loss Per Share - Summary of Ear
Loss Per Share - Summary of Earnings Per Share Basic and Diluted (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021CNY (¥)¥ / sharesshares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020CNY (¥)¥ / sharesshares | Dec. 31, 2020$ / shares | Dec. 31, 2019CNY (¥)¥ / sharesshares | |
Numerator: | |||||
Net loss attributable to Kingsoft Cloud Holdings Limited | ¥ (1,588,712) | $ (249,303) | ¥ (962,259) | ¥ (1,111,199) | |
Accretion to redemption value of redeemable convertible preferred shares | 0 | 0 | (19,768) | (49,725) | |
Net loss attributable to ordinary shareholders | ¥ (1,588,712) | $ (249,303) | ¥ (982,027) | ¥ (1,160,924) | |
Denominator: | |||||
Weighted average number of ordinary shares outstanding - basic and diluted | 3,441,729,444 | 3,441,729,444 | 2,400,874,197 | 889,521,200 | |
Basic and diluted loss per share | (per share) | ¥ (0.46) | $ (0.07) | ¥ (0.41) | $ (0.41) | ¥ (1.31) |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands | Sep. 23, 2020CNY (¥)shares | Feb. 29, 2020$ / sharesshares | Jan. 08, 2020CNY (¥)shares | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥)shares | Dec. 31, 2021CNY (¥)shares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 17, 2021USD ($)$ / sharesshares | Sep. 03, 2021shares | Dec. 31, 2020$ / shares | Dec. 31, 2020CNY (¥)shares | Sep. 23, 2020$ / shares | Apr. 07, 2020$ / sharesshares | Jan. 08, 2020$ / sharesshares |
Class of Stock [Line Items] | ||||||||||||||
Fair value per ordinary share | $ / shares | $ 0.76 | |||||||||||||
Shares repurchased during the period value | ¥ | ¥ 26,700,000 | |||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||
Common stock shares authorised | 40,000,000,000 | 40,000,000,000 | 40,000,000,000 | 4,000,000,000 | ||||||||||
Common Stock, Shares, Issued | 3,805,284,810 | 3,805,284,810 | 3,546,124,955 | |||||||||||
Common Stock, Value, Issued | ¥ 24,782,000 | $ 3,889 | $ 40,000 | ¥ 22,801,000 | ||||||||||
Camelot Group [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common Stock, Shares, Issued | 247,475,446 | |||||||||||||
NASDAQ/NGS (GLOBAL SELECT MARKET) [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Sale of stock consideration received in the transaction | ¥ | ¥ 1,881,233 | |||||||||||||
Common Stock [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Shares repurchased during the period shares | 5,475,254 | |||||||||||||
Shares repurchased during the period value | ¥ | ¥ 38,000 | |||||||||||||
Revision In Authorised Capital [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common stock preferred stock and temporary equity shares authorised | 4,000,000,000 | |||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | |||||||||||||
Common stock shares authorised | 2,282,750,429 | |||||||||||||
IPO [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 30,000,000 | |||||||||||||
Sale of stock issue price per share | $ / shares | $ 1.13 | |||||||||||||
Sale of stock consideration received in the transaction | ¥ | ¥ 3,875,394 | |||||||||||||
Number of shares of preferred stock converted into common stock | 1,717,249,571 | |||||||||||||
IPO [Member] | Common Stock [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 450,000,000 | 517,500,000 | ||||||||||||
Sale of stock issue price per share | $ / shares | $ 17 | |||||||||||||
Over-Allotment Option [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 4,500,000 | |||||||||||||
Over-Allotment Option [Member] | NASDAQ/NGS (GLOBAL SELECT MARKET) [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 1,250,000 | |||||||||||||
Over-Allotment Option [Member] | Common Stock [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 67,500,000 | |||||||||||||
Over-Allotment Option [Member] | Common Stock [Member] | NASDAQ/NGS (GLOBAL SELECT MARKET) [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 18,750,000 | |||||||||||||
Follow On Offer [Member] | NASDAQ/NGS (GLOBAL SELECT MARKET) [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 120,000,000 | |||||||||||||
Sale of stock issue price per share | $ / shares | $ 2.07 | |||||||||||||
Follow On Offer [Member] | Common Stock [Member] | NASDAQ/NGS (GLOBAL SELECT MARKET) [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Stock shares issued during the period shares | 8,000,000 | |||||||||||||
Sale of stock issue price per share | $ / shares | $ 31 | |||||||||||||
Series A Convertible Preferred Shares [Member] | Revision In Authorised Capital [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Preferred stock shares authorised | 458,116,000 | |||||||||||||
Series B Convertible Redeemable Preferred Shares [Member] | Revision In Authorised Capital [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Temporary equity shares authorised | 153,603,600 | |||||||||||||
Series C Redeemable Convertible Preferred Shares [Member] | Revision In Authorised Capital [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Temporary equity shares authorised | 185,665,192 | |||||||||||||
Series D Redeemable Convertible Preferred Shares [Member] | Revision In Authorised Capital [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Temporary equity shares authorised | 842,738,782 | |||||||||||||
Series D Plus Redeemable Convertible Preferred Shares [Member] | Revision In Authorised Capital [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Temporary equity shares authorised | 77,125,997 | |||||||||||||
Executive Officer [Member] | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Repurchase price per share | $ / shares | $ 0.70 | |||||||||||||
Shares repurchased during the period shares | 5,475,254 | |||||||||||||
Shares repurchased during the period value | $ | $ 0 |
Related Party Transactions - Sc
Related Party Transactions - Schedule Of Related Parties And Nature Of Relationship (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Kingsoft Group [Member] | |
Related Party Transaction [Line Items] | |
Nature of Common Ownership or Management Control Relationships | Principal shareholder of the Company |
Cheetah Group [Member] | |
Related Party Transaction [Line Items] | |
Nature of Common Ownership or Management Control Relationships | Entity that Kingsoft Corporation Limited exercises significant influence over |
Xiaomi Group [Member] | |
Related Party Transaction [Line Items] | |
Nature of Common Ownership or Management Control Relationships | Entity controlled by a director of the Company |
Related Party Transactions - _2
Related Party Transactions - Schedule Of Related Party Transactions (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | ¥ 929,524 | $ 145,863 | ¥ 777,369 | ¥ 688,307 |
Related Party Transaction, Amounts of Transaction | 91,843 | 14,412 | 63,878 | 41,734 |
Public cloud services [Member] | Kingsoft Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | 156,158 | 24,505 | 119,011 | 109,177 |
Public cloud services [Member] | Cheetah Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | 3,111 | 8,579 | ||
Public cloud services [Member] | Xiaomi Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | 749,597 | 117,628 | 655,165 | 570,431 |
Other Services [Member] | Kingsoft Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | 74 | 12 | ||
Other Services [Member] | Xiaomi Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | 82 | 120 | ||
Purchase of services [Member] | Xiaomi Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Amounts of Transaction | 1,349 | 212 | 2,177 | 2,707 |
Interest expense on loan [Member] | Kingsoft Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Amounts of Transaction | 4,088 | 641 | 4,925 | |
Interest expense on loan [Member] | Xiaomi Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Amounts of Transaction | 16,633 | 2,610 | ||
Rental of office space and administrative services [Member] | Kingsoft Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Amounts of Transaction | 13,321 | 2,090 | 13,801 | 24,524 |
Rental of office space and administrative services [Member] | Xiaomi Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Amounts of Transaction | 56,452 | 8,859 | ¥ 47,900 | ¥ 9,578 |
Enterprise cloud services [Member] | Kingsoft Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | 838 | 131 | ||
Enterprise cloud services [Member] | Xiaomi Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Related Parties | ¥ 22,857 | $ 3,587 |
Related Party Transactions - _3
Related Party Transactions - Schedule Of Related Party Transactions (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Related Party Transaction [Line Items] | |||
Operating lease right-of-use assets | ¥ 256,451 | $ 40,243 | ¥ 266,968 |
Operating lease liabilities | 266,879 | 41,879 | |
Xiaomi Group [Member] | |||
Related Party Transaction [Line Items] | |||
Operating lease right-of-use assets | 210,551 | 33,024 | 243,585 |
Operating lease liabilities | ¥ 238,180 | $ 37,356 | ¥ 250,646 |
Related Party Transactions - _4
Related Party Transactions - Schedule Of Related Party Balances (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Amounts due from related parties: | |||
Amounts due from related parties | ¥ 212,901 | $ 33,409 | ¥ 210,826 |
Amounts due to related parties: | |||
Amounts due to related parties | 1,309,317 | 205,461 | 112,998 |
Kingsoft Group [Member] | |||
Amounts due from related parties: | |||
Amounts due from related parties | 37,731 | 5,921 | 45,258 |
Amounts due to related parties: | |||
Amounts due to related parties | 544,376 | 85,425 | 80,294 |
Xiaomi Group [Member] | |||
Amounts due from related parties: | |||
Amounts due from related parties | 175,170 | 27,488 | 165,568 |
Amounts due to related parties: | |||
Amounts due to related parties | ¥ 764,941 | $ 120,036 | ¥ 32,704 |
Related Party Transactions - _5
Related Party Transactions - Schedule Of Related Party Balances (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Related Party Transaction [Line Items] | |||
Short-term Debt | ¥ 1,348,166 | $ 211,557 | ¥ 278,488 |
Short-term Debt, Current | 1,348,166 | 211,557 | ¥ 278,488 |
Kingsoft Group [Member] | |||
Related Party Transaction [Line Items] | |||
Short-term Debt | ¥ 500,000 | $ 78,461 | |
Short-term Debt, Percentage Bearing Fixed Interest Rate | 4.65% | 4.65% | |
Short-term Debt, Terms | November 2022 | ||
Short-term Debt, Current | ¥ 500,000 | $ 78,461 | |
Xiaomi Group [Member] | |||
Related Party Transaction [Line Items] | |||
Short-term Debt | 236,206 | 37,066 | |
Short-term Debt, Current | 236,206 | 37,066 | |
Short-term Debt, Non Current | ¥ 472,882 | $ 74,206 | |
Related party transaction, Terms and manner of settlement | 3 | ||
Xiaomi Group [Member] | Weighted Average [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, Rate | 4.36% |
Related Party Transactions - _6
Related Party Transactions - Schedule of Repayment of Related Party Loans in Fixed Quarterly Installments (Detail) - Dec. 31, 2021 - Xiaomi Group [Member] ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Related Party Debt By Maturity [Line Items] | ||
2022 | ¥ 236,206 | $ 37,066 |
2023 | 241,168 | 37,845 |
2024 | 231,714 | 36,361 |
Total | ¥ 709,088 | $ 111,272 |
Commitments and contingencies -
Commitments and contingencies - Additional Information (Detail) - Dec. 31, 2021 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Commitments and Contingencies Disclosure [Abstract] | ||
Capital expenditure commitments | ¥ 46,391 | $ 7,280 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (loss) -Schedule Of Accumulated Other Comprehensive Income (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Schedule Of Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | ¥ (68,440) | ¥ 484,348 | |
Foreign currency translation adjustments | (139,442) | (552,788) | |
Ending Balance | ¥ (207,882) | $ (32,621) | ¥ (68,440) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (loss) - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Foreign currency translation adjustments tax | ¥ 0 | ¥ 0 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) $ in Thousands | Mar. 31, 2022USD ($) |
Subsequent Event [member] | |
Subsequent Event [Line Items] | |
Stock repurchase program,authorized amount | $ 100,000 |
Condensed Financial Informati_3
Condensed Financial Information of the Parent Company - Summary of Parent Company Balance Sheet (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 17, 2021USD ($) | Jan. 01, 2021CNY (¥) | Jan. 01, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Current assets: | |||||||||
Cash and cash equivalents | ¥ 4,217,528 | $ 661,822 | ¥ 3,424,674 | ||||||
Short-term investments | 2,491,056 | 390,901 | 2,693,019 | ||||||
Prepayments and other assets | 1,687,021 | 264,730 | 887,086 | ||||||
Total current assets | 12,412,816 | 1,947,841 | 9,544,718 | ||||||
Non-current assets: | |||||||||
Total non-current assets | 8,665,224 | 1,359,763 | 2,384,496 | ||||||
Total assets | 21,078,040 | 3,307,604 | 11,929,214 | ||||||
Current liabilities: | |||||||||
Income tax payable | 60,217 | 9,449 | 20,564 | ||||||
Total current liabilities | 7,515,880 | 1,179,405 | 3,465,599 | ||||||
Other liabilities | 1,232,677 | 193,434 | 40,578 | ||||||
Total non-current liabilities | 2,069,737 | 324,787 | 223,565 | ||||||
Total liabilities | 9,585,617 | 1,504,192 | 3,689,164 | ||||||
Shareholders' (deficit) equity: | |||||||||
Ordinary shares | 24,782 | 3,889 | $ 40,000 | 22,801 | |||||
Additional paid-in capital | 18,245,801 | 2,863,164 | 14,149,984 | ||||||
Accumulated deficit | (7,458,752) | (1,170,441) | ¥ 5,684 | $ 892 | (5,864,356) | ||||
Accumulated other comprehensive income | (207,882) | (32,621) | (68,440) | ¥ 484,348 | |||||
Total equity | 11,492,423 | 1,803,412 | 8,240,050 | (4,197,259) | ¥ (3,243,111) | ||||
Total liabilities, non-controlling interests and shareholders' equity | 21,078,040 | 3,307,604 | 11,929,214 | ||||||
Parent Company [Member] | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | 69,393 | 10,889 | 68,012 | $ 10,673 | ¥ 540,361 | ¥ 531,313 | |||
Short-term investments | 1,029,472 | 161,547 | 217,448 | ||||||
Prepayments and other assets | 53,618 | 8,414 | 266,280 | ||||||
Amounts due from subsidiaries | 5,508,311 | 864,374 | 7,983,060 | ||||||
Total current assets | 6,660,794 | 1,045,224 | 8,534,800 | ||||||
Non-current assets: | |||||||||
Investments in subsidiaries | 5,328,424 | 836,146 | |||||||
Total non-current assets | 5,328,424 | 836,146 | |||||||
Total assets | 11,989,218 | 1,881,370 | 8,534,800 | ||||||
Current liabilities: | |||||||||
Accrued expenses and other liabilities | 182,075 | 28,572 | 256,630 | ||||||
Income tax payable | 3,307 | 519 | 2,524 | ||||||
Amounts due to subsidiaries | 4,846 | 760 | 1,692 | ||||||
Amounts due to related parties | 829 | 130 | 407 | ||||||
Total current liabilities | 191,057 | 29,981 | 261,253 | ||||||
Other liabilities | 1,194,212 | 187,398 | 33,558 | ||||||
Total non-current liabilities | 1,194,212 | 187,398 | 33,558 | ||||||
Total liabilities | 1,385,269 | 217,379 | 294,811 | ||||||
Shareholders' (deficit) equity: | |||||||||
Ordinary shares | 24,782 | 3,889 | 22,801 | ||||||
Additional paid-in capital | 18,245,801 | 2,863,164 | 14,149,984 | ||||||
Accumulated deficit | (7,458,752) | (1,170,441) | (5,864,356) | ||||||
Accumulated other comprehensive income | (207,882) | (32,621) | (68,440) | ||||||
Total equity | 10,603,949 | 1,663,991 | 8,239,989 | ||||||
Total liabilities, non-controlling interests and shareholders' equity | ¥ 11,989,218 | $ 1,881,370 | ¥ 8,534,800 |
Condensed Financial Informati_4
Condensed Financial Information of the Parent Company - Summary of Parent Company Balance Sheet Disclosure (Parenthetical) (Detail) - $ / shares | Dec. 31, 2021 | Dec. 17, 2021 | Dec. 31, 2020 |
Common stock, par or stated value per share | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock shares authorised | 40,000,000,000 | 40,000,000,000 | 4,000,000,000 |
Common stock, shares, issued | 3,805,284,810 | 3,546,124,955 | |
Common stock, shares, outstanding | 3,646,381,840 | 3,339,618,633 | |
Parent Company [Member] | |||
Common stock, par or stated value per share | $ 0.001 | $ 0.001 | |
Common stock shares authorised | 40,000,000,000 | 4,000,000,000 | |
Common stock, shares, issued | 3,805,284,810 | 3,546,124,955 | |
Common stock, shares, outstanding | 3,646,381,840 | 3,339,618,633 |
Condensed Financial Informati_5
Condensed Financial Information of the Parent Company - Summary of Parent Company Income Statement (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Operating expenses: | ||||
General and administrative expenses | ¥ (601,702) | $ (94,420) | ¥ (379,892) | ¥ (238,648) |
Total operating expenses | (2,163,680) | (339,529) | (1,564,233) | (1,151,243) |
Interest income | 71,942 | 11,289 | 77,118 | 78,612 |
Foreign exchange (loss) gain | 37,822 | 5,935 | 188,800 | (38,961) |
Other (expenses) income, net | 95,047 | 14,915 | (10,810) | 6,612 |
Loss before income taxes | (1,576,015) | (247,311) | (947,294) | (1,102,196) |
Income tax expense | (15,741) | (2,470) | (14,904) | (9,003) |
Net loss attributable to Kingsoft Cloud Holdings Limited | (1,588,712) | (249,303) | (962,259) | (1,111,199) |
Other comprehensive income (loss), net of tax of nil: | ||||
Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders | (1,728,154) | (271,184) | (1,515,047) | (1,046,601) |
Accretion to redemption value of redeemable convertible preferred shares | 0 | 0 | (19,768) | (49,725) |
Comprehensive loss attributable to ordinary shareholders | (1,728,154) | (271,184) | (1,534,815) | (1,096,326) |
Parent Company [Member] | ||||
Operating expenses: | ||||
General and administrative expenses | (40,913) | (6,420) | (27,052) | (6,734) |
Total operating expenses | (40,913) | (6,420) | (27,052) | (6,734) |
Interest income | 15,224 | 2,389 | 10,199 | 52,829 |
Foreign exchange (loss) gain | 10,198 | 1,601 | 30,931 | (8,174) |
Other (expenses) income, net | 9,889 | 1,552 | 5,377 | (300) |
Share of losses of subsidiaries and the VIEs | (1,582,142) | (248,273) | (981,093) | (1,145,405) |
Loss before income taxes | (1,587,744) | (249,151) | (961,638) | (1,107,784) |
Income tax expense | (968) | (152) | (621) | (3,415) |
Net loss attributable to Kingsoft Cloud Holdings Limited | (1,588,712) | (249,303) | (962,259) | (1,111,199) |
Other comprehensive income (loss), net of tax of nil: | ||||
Foreign currency translation adjustments | (139,442) | (21,881) | (552,788) | 64,598 |
Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders | (1,728,154) | (271,184) | (1,515,047) | (1,046,601) |
Accretion to redemption value of redeemable convertible preferred shares | 0 | 0 | (19,768) | (49,725) |
Comprehensive loss attributable to ordinary shareholders | ¥ (1,728,154) | $ (271,184) | ¥ (1,534,815) | ¥ (1,096,326) |
Condensed Financial Informati_6
Condensed Financial Information of the Parent Company - Summary of Parent Company Cash Flow (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Net cash (used in) generated from operating activities | ¥ (708,869) | $ (111,236) | ¥ (290,433) | ¥ (439,132) |
Net cash generated from (used in) investing activities | (421,623) | (66,162) | (4,314,003) | 883,247 |
Net cash generated from (used in) financing activities | 2,212,487 | 347,187 | 6,124,153 | 64,507 |
Effect of exchange rate changes on cash and cash equivalents | (50,048) | (7,854) | (118,306) | 7,570 |
Net increase in cash, cash equivalents, and restricted cash | 1,081,995 | 169,789 | 1,519,717 | 508,622 |
Cash, cash equivalents, and restricted cash at beginning of year | 3,424,674 | |||
Cash, cash equivalents, and restricted cash at end of year | 4,217,528 | 661,822 | 3,424,674 | |
Parent Company [Member] | ||||
Net cash (used in) generated from operating activities | 1,178,019 | 184,857 | (6,203,310) | (2,538,479) |
Net cash generated from (used in) investing activities | (1,179,393) | (185,072) | (218,674) | 2,166,312 |
Net cash generated from (used in) financing activities | (815) | (128) | 5,945,666 | 370,294 |
Effect of exchange rate changes on cash and cash equivalents | 3,570 | 559 | 3,969 | 10,921 |
Net increase in cash, cash equivalents, and restricted cash | 1,381 | 216 | (472,349) | 9,048 |
Cash, cash equivalents, and restricted cash at beginning of year | 68,012 | 10,673 | 540,361 | 531,313 |
Cash, cash equivalents, and restricted cash at end of year | ¥ 69,393 | $ 10,889 | ¥ 68,012 | ¥ 540,361 |