UCloud (688158.SS): the First Cloud Computing Company Listed in China, Released its First Three Quarter Financial Report

In the evening of 27th October, UCloud (688158.SS), the first listed cloud computing company in China,  officially released the financial report for the first three quarters of fiscal 2020.

The report showed that in the first three quarters 2020,UCloud operting revenue was CNY 1.638 billion, a year-on-year increase of 52.87%; The quarterly operating revenue is CNY 726 million, a year-on-year increase of 94.79%.

For the gross profit, the financial report showed that UCloud's gross profit from January to September of this year decreased by 127 million yuan from the same period last year, decreased by 40.42%.

UCloud explained the reason in its financial report: one of the reasons for the gross profit margin decline in the current period is that the company is actively exploring major customers in video entertainment, online education, e-commerce and other industries. The revenue of cloud distribution products required for video on demand and live broadcast is growing relatively fast, but its gross profit margin is relatively low.

It is reported that UCloud has launched two self-built data center projects for the deployment of hybrid cloud.

UCLOUD 2.jpg

The first phase of the data center in Ulan Qab was completed in August, and the first phase of the data center in Qingpu, Shanghai started in August.

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