Beijing Kingsoft Office Software In
- Industry
- Software & Internet
- Exchange
- Shanghai
- Country
- China
- Employees
- 6,048
- Website
- www.wps.cn
Composite valuation range · conservative ¥170–¥190 / fair ¥210–¥245 / optimistic ¥280–¥320. At ¥240.8, Within the fair intrinsic-value range.
At publication ¥215 (Jun 14, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Beijing Kingsoft Office Software, Inc. provides office software products and services in China and internationally. It offers WPS Office for Windows, Mac, Android, iOS, Linux, HarmonyOS, Enterprise PC version, and Enterprise Mobile Version; cloud office products comprising Kingsoft Docts, WPS Collaboration, WPS Email, WPS Calendar, and WPS Meeting; and other products, including WPS AIPPT, WPS Browser Assistant, WPS PDF Standalone Version, WPS PDF Professional Edition, Kingsoft PowerWord, Kingsoft PowerWord Enterprise Edition, WPS Dark Horse Proofreader, and Kingsoft Typing Tutor. The company was founded in 1988 and is based in Beijing, China. Beijing Kingsoft Office Software, Inc. operates as a subsidiary of Kingsoft Wps Corporation Limited.
History
Kingsoft Office traces its origins to 1988, when Qiu Bojun wrote 122,000 lines of code for WPS 1.0 on a 386 computer; the product was officially released in 1989. Between 1988 and 1996, WPS held over 90% of China's office software market. After Microsoft Office entered China, WPS shifted to a strategy built on format compatibility, low-priced or free entry points, and broad multi-platform coverage, which let it rebuild its installed base in the mobile era. The current listed entity was founded on December 20, 2011 and was converted into a joint-stock company on September 27, 2016; it was spun off from Hong Kong-listed Kingsoft Corp onto the STAR Market. The company listed on November 18, 2019 at an issue price of RMB 45.86, raising RMB 4.632 billion in total, with a first-day close of RMB 126.36 and a market capitalization of RMB 58.2 billion. From 2021 to 2025 revenue grew from RMB 3.280 billion to RMB 5.929 billion, roughly a 16% compound annual growth rate. By the end of 2025 the company's main products reached 678 million global monthly active devices (329 million on PC and 349 million on mobile). Its current phase centers on AI and organization-level platforms, including WPS AI 4.0, WPS 365 with its KAG framework, digital-employee features, and integration of OpenClaw. As of the 2026 first-quarter report, controlling shareholder Kingsoft WPS Corporation Limited held 238.39 million shares, or 51.45%, with no differential-voting arrangement; the legal representative is Zou Tao and Qiu Bojun remains on the board.
Industry position
Kingsoft Office is the leader in China's general-purpose office software, with three revenue pillars in 2025: personal business at RMB 3.626 billion (about 61.2% of revenue), WPS 365 at RMB 720 million (about 12.1%), and software licensing at RMB 1.461 billion (about 24.6%). Its position rests on factual sources of advantage: a large installed base and entrenched usage habits (678 million monthly active devices at end-2025), localization and domestic-software (Xinchuang) adaptation, and price and distribution efficiency. By comparison, Microsoft 365 Copilot's enterprise edition is priced at $30 per user per month, roughly RMB 204 at the June 14, 2026 USD/RMB midpoint of 6.8109. Its main rivals span three different models: Microsoft, which functions as the global office standard layered with Copilot; Tencent, whose Tencent Docs supports multi-user online editing and whose ima AI office hub reported over 13 million monthly active users and more than 420 million knowledge-base files; Feishu, positioned by ByteDance as an AI work platform with an OpenClaw enterprise deployment offering; and Foxit, a domestic document/PDF software peer trading at about a 5.48x price-to-sales ratio with a market capitalization of about RMB 6.0 billion. On the user side, cumulative annual paying personal users reached 48.995 million by the end of the 2026 first quarter, with 46.15 million domestic and 2.85 million overseas, the latter up 64% year over year.