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Kingsoft Cloud Holdings (KC)

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.

  1. 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.
  2. Enterprise Cloud Services - Delivers customized cloud solutions for public service, healthcare, and financial sectors, with revenue generated through project-based or performance-based contracts.
  3. Others - Offers miscellaneous cloud-related services on an ad hoc basis, contributing minimally to the overall business.

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NamePositionExternal RolesShort 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.

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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.

  1. 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?

  2. 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? ,

  3. 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? ,

  4. 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? ,

  5. 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.

CompanyYearDetails

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.

Kingsoft Cloud Holdings Limited Completes New Share Placing
·$KC
New Projects/Investments
  • Kingsoft Cloud Holdings Limited completed the placing of 338,000,000 new shares at HK$8.29 per share on October 2, 2025.
  • The placing generated gross proceeds of approximately HK$2,802,020,000 and net proceeds of approximately HK$2,759,989,700.
  • The company intends to use 80% of the net proceeds to support its AI business, including expanding infrastructure and enhancing cloud service capabilities, and 20% to replenish working capital and for other corporate purposes by December 31, 2028.
  • These new shares represent approximately 7.46% of the company's issued ordinary shares as enlarged by the placing.
6 days ago
Kingsoft Cloud Announces Pricing of Upsized Share Offering
·$KC
New Projects/Investments
  • Kingsoft Cloud Holdings Limited announced the pricing of an upsized HK$2,802 million offering of 338,000,000 ordinary shares at HK$8.29 per share.
  • The offering is expected to close on or before October 2, 2025.
  • The company plans to allocate 80% of the net proceeds to support its AI business, including infrastructure expansion and cloud service capabilities, and 20% to replenish working capital and other corporate purposes by December 31, 2028.
Sep 23, 2025, 1:20 PM
Kingsoft Cloud Proposes Offering of New Shares
·$KC
New Projects/Investments
  • Kingsoft Cloud Holdings Limited proposes to offer 282,000,000 ordinary shares in offshore transactions outside the United States to non-U.S. persons.
  • Morgan Stanley Asia Limited has been appointed as the placing agent for this proposed offering.
  • The company plans to use 80% of the net proceeds to support its AI business, including expanding infrastructure and enhancing cloud service capabilities, and 20% to replenish working capital and for other corporate purposes by December 31, 2028.
  • The Placing Shares have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons.
Sep 23, 2025, 9:00 AM
Kingsoft Cloud Holdings Ltd Updates Share Capital Movements for April 2025
·$KC
Share Buyback
  • Submitted on May 8, 2025, this 6-K filing reports the monthly return for equity issuer covering movements in share capital and securities for April 2025.
  • The authorized share capital remains at 40,000,000,000 shares with a par value of $0.001 per share.
  • Issued shares increased by 319,125,000 shares, raising the total from 3,805,284,801 to 4,124,409,801 shares, primarily due to placements/subscriptions.
May 8, 2025, 12:00 AM
Kingsoft Cloud Holdings Ltd Closes ADS and Share Offering
·$KC
New Projects/Investments
  • 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 ).
Apr 25, 2025, 12:00 AM
Kingsoft Cloud Holdings Ltd: Combined Registration and Offering Update
·$KC
Delisting/Listing Issues
New Projects/Investments
  • 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 .
Apr 17, 2025, 12:00 AM