The Zhitong Finance App learned that on May 22, Jinshanyun (KC.US, 03896.HK) released financial results for the first quarter of 2024. Financial reports show that Jinshan Cloud's Q1 revenue was 1.78 billion yuan, up 3.1% from the previous month, including public cloud revenue of 1.19 billion yuan and industry cloud revenue of 590 million yuan. Thanks to the steady implementation of a high-quality sustainable development strategy, Jinshan Cloud adjusted its EBITDA for the first time this quarter, achieving both revenue growth and profitability, and entering a new stage of development.
During the quarter, the company focused on refining core technology in high-value-added business, and continued to build both technical and service capabilities. Benefiting from this, the company's adjusted gross margin reached 16.8% during the quarter, up 1.6 percentage points from month to month, and continued to rise steadily for seven consecutive quarters, reaching another record high; adjusted gross profit reached RMB 300 million, an increase of 53.8% year on year; the adjusted EBITDA rate reached 1.9%, a sharp increase of 8.9 percentage points over the previous year, and the high-quality sustainable development strategy showed results.