Gross Value of Intangible Assets of Kingsoft
Assets with high value but no physical presence that give a business long-term financial value are referred to as "intangible assets." The company's identifiable intangible assets are those that can be sold independently, separated from other assets, and valued. Intellectual property, like as patents, trademarks, and copyrights, as well as non-cash government grants, such as broadcasting licenses or airport landing rights, are examples of identifiable intangible assets. A trademark is a sign that can be used to separate one company's products or services from those of other businesses. Trademarks are protected under intellectual property laws. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Kingsoft Corporation’s gross value of intangible assets surged from RMB207 million in FY2020 to RMB253 million in FY2021, an increase of 22.27%. In FY2021, the company's net value of intangible assets was RMB121 million. Purchased Software accounted for RMB205 million, based on the company's calculation of the identified intangible assets. The company's amortization expense for intangible assets was RMB213 million in FY2021.
The company's total assets increased by RMB1,205 million, from RMB19,795 million in FY2020 to RMB21,000 million in 2021. The increase is primarily the result of an increase in Financial assets included in other non-current assets and an increase in Financial assets included in prepayments, other receivables, and other assets. The company’s trademarks amounted to RMB9 million, and its Technology assets grew to RMB38 million in FY2021. The company completed the acquisition of these Trademarks in the 2021 accounting period.
Kingsoft Corporation (Kingsoft) is an investment holding company. It carries out software development and distribution services for entertainment, internet security, and application software. The company offers the business of research, development, operation, and distribution of casual game services, mobile games, and online games. In addition, Kingsoft also provides office software products and services, which include design, sales and marketing, and research and development. The company provides game licensing, online marketing, internet security, and internet value-added services. It operates in Hong Kong, China, and the Cayman Islands. Kingsoft Corporation is headquartered in Beijing, China.
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