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Kingsoft Cloud Holdings Limited (KC) is a leading independent cloud service provider in China, specializing in delivering reliable and comprehensive cloud solutions. The company supports businesses across various industries with cloud infrastructure, cloud-native products, and tailored industry-specific solutions. Its offerings enable customers to embrace digital transformation and create business value through advanced cloud technologies.
- Public Cloud Services - Provides cloud solutions to industries such as video, intelligent mobility, e-commerce, AI, and mobile internet, with services offered on a utilization or subscription basis.
- Enterprise Cloud Services - Delivers customized cloud solutions for public service, healthcare, and financial sectors, with revenue generated through project-based or performance-based contracts.
- Others - Offers miscellaneous cloud-related services on an ad hoc basis, contributing minimally to the overall business.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Mr. He Haijian ExecutiveBoard | Chief Financial Officer | Mr. He Haijian serves as the Chief Financial Officer of Kingsoft Cloud since January 2020 and also holds the role of Executive Director with membership on the Corporate Governance Committee since December 20, 2022. He is responsible for financial planning, treasury, legal affairs, strategic investments, and investor relations. | ||
Mr. Zou Tao ExecutiveBoard | Acting Chief Executive Officer | Mr. Zou Tao serves as the Vice Chairman of the Board, Executive Director, and Acting Chief Executive Officer at KC. He has overseen strategic initiatives, including AI-driven growth and profitability improvements as highlighted in announcements from August 2024 to January 2025. | View Report → | |
Mr. Feng Honghua Board | Non-Executive Director | General Manager of the Basic Technology Platform Department at Xiaomi Corporation since December 2023 | Mr. Feng Honghua serves as a Non-Executive Director at Kingsoft Cloud Holdings Limited since March 20, 2024. He brings extensive technology and strategic leadership experience from his roles at Xiaomi Corporation, where he has been the General Manager of the Basic Technology Platform Department since December 2023. | |
Mr. Lei Jun Board | Chairman | Mr. Lei Jun serves as the Chairman and non-executive director of KC as mentioned in announcements from December 2023 through November 2024. The documents do not provide additional background or previous roles. | ||
Mr. Wang Hang Board | Independent Non-executive Director | Founding Partner at Hosen Capital (March 2010); Vice Chairman of the Board of New Hope Group (since 2012); Director of New Hope Liuhe Co., Ltd. (since 2011); Chairman of the Board of Sichuan XW Bank Corp., Ltd. (since April 2020); Vice Chairman of the Board of CMBC International Holdings Limited (since March 2015) | Mr. Wang Hang has served as an Independent Non-executive Director of KC since May 2020, providing valuable oversight to the board. He brings extensive experience from his roles as the founding partner of Hosen Capital and leadership positions at New Hope Group, New Hope Liuhe Co., Ltd., Sichuan XW Bank, and CMBC International Holdings Limited. | |
Mr. Yu Mingto Board | Independent Non-Executive Director | Mr. Yu Mingto has been serving as an Independent Non-Executive Director at KC since May 2020. He also serves as the Chairman of the Audit Committee at KC, ensuring effective financial oversight. | ||
Ms. Qu Jingyuan Board | independent non-executive director | Ms. Qu Jingyuan, aged 50, has served as an independent non-executive director at KC since April 14, 2022, and her continued board role reflects her extensive expertise. |
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Given your significant capital expenditures totaling RMB 5-6 billion on computing equipment over the past four quarters and an expected total AI investment of around RMB 10 billion for the full year 2025, how do you plan to manage these substantial investments while maintaining strong liquidity and healthy cash flow, especially considering your use of leasing and off-balance-sheet financing arrangements with shareholders?
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With AI-related business contributing 34% of your public cloud revenue in Q4 2024 and gross billings reaching RMB 474 million, primarily driven by the Xiaomi and Kingsoft ecosystem, what strategies are you implementing to diversify your AI customer base and reduce reliance on connected parties to ensure sustainable growth? ,
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Considering the recent increase in supply and falling prices of high-performance AI servers, how do you expect this to impact your GPU cloud service pricing and margins, and what measures are you taking to mitigate potential pressure on your AI cloud revenue and earnings? ,
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As you shift from traditional CPU-centric services to AI cloud and solution services, and with significant investment in GPU infrastructure, how are you addressing the risks of rapid technological changes and potential underutilization of your AI assets to ensure a strong return on investment? ,
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Given the increasing competition in the AI cloud market and your AI-related business achieving around 500% year-over-year growth, what are your plans to maintain your competitive edge and market share against larger cloud providers, and how do you plan to differentiate your technology and service offerings? ,
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Camelot Technology (3.19% stake) | 2022 | Completed acquisition on November 18, 2022 where 3.19% of equity was acquired for a total consideration of RMB 175,923,000 (including RMB 43,980,750 cash and RMB 131,942,250 in shares) with cash fully settled by completion; it also involved granting 27,500,715 RSUs to employees as part of the Camelot Merger Agreement to align minority shareholder interests and incentivize long-term benefits. |
Camelot Technology (9.50% stake) | 2022 | Completed acquisition on November 18, 2022 following an agreement on October 21, 2022, where 9.50% of the equity was acquired for RMB456 million in cash, payable in five installments by the end of 2024, aimed at better integration with the Camelot Group and aligning the interests of its minority shareholders, specifically from Shanghai Jiawo and Tongxiang Jiawo. |
Recent press releases and 8-K filings for KC.
- Offering Closure Announced: The document reports the closing of the offering of 17,300,000 Firm ADSs (and the full exercise of a 2,775,000 Additional ADS option) along with 18,000,000 Offer Shares, with transactions executed on April 17 and April 25, 2025 (documents ).
- Disclaimer Notice: It emphasizes that Hong Kong Exchanges and the Stock Exchange of Hong Kong make no warranties regarding the accuracy or completeness of the announcement (document ).
- Use of Proceeds: The net proceeds from the offering are planned for investments in infrastructure, technology development, and general corporate purposes (document ).
- Kingsoft Cloud has initiated a public equity offering of 18,500,000 ADSs at US$11.27 per ADS (each representing 15 ordinary shares, totaling 277,500,000 ordinary shares) .
- Kingsoft Corporation will participate in a private placement by purchasing 69,375,000 ordinary shares (≈20% of total shares), subject to closing conditions .
- The offering includes a 30-day underwriter option to acquire up to 2,775,000 additional ADSs at the offering price .
- The company has filed an automatic shelf registration statement on Form F-3, confirming its registration remains effective .
- Financial statements are prepared in accordance with US GAAP with effective internal accounting controls and detailed corporate structure disclosures .
- Detailed procedures for the issuance, settlement, and delivery of the Offered Securities, including arrangements with Morgan Stanley Asia Limited and HKSCC, are outlined with conditions to be met at closing .
- Net proceeds will be allocated for infrastructure upgrades, technology development, and general corporate purposes .