Kingsoft Cloud Holdings Limited 金山雲控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock Code 股份代號: 3896) (Nasdaq Stock Ticker 納斯達克股票代碼: KC) Date as postmarked 1. NOTICE OF PUBLICATION OF CIRCULAR, NOTICE AND PROXY FORM OF EXTRAORDINARY GENERAL MEETING (THE "CURRENT CORPORATE COMMUNICATION") ON THE WEBSITES The Current Corporate Communication of Kingsoft Cloud Holdings Limited (the "Company") is now available under Investor Relations section of the Company's website at i ...

Kingsoft Cloud Holdings Limited 金山云控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） (Stock Code 股份代號: 3896) If you would like to receive the Current Corporate Communication in printed form, please complete and sign the Request Form printed at the reverse side of this letter and return it by post to the Company c/o the Company's branch share registrar in Hong Kong, Tricor Investor Services Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong. You may use t ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本通告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Kingsoft Cloud Holdings Limited 金山云控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3896） （納斯達克股票代碼：KC） 普通決議案 股份登記日期及美國存託股登記日期 董事會已將香港時間二零二四年十一月二十九日營業時間結束時定為股份的登記 日期（「股份登記日期」）。截至股份登記日期，股份持有人有權出席股東特別大會及其 任何續會並於會上投票。 – 1 – 1. 「動議批准及確認本公司與金山軟件於二零二四年十一月十九日訂立的二零 二四年金山軟件框架協議的條款以及其項下擬進行的雲服務（包括截至二零 二七年十二月三十一日止三個年度的建議年度上限）。」 2. 「動議批准及確認本公司與小米於二零二四年十一月十九日訂立的二零二四 年小米框架協議的條款以及其項下擬進行的交易（包括截至二零二七年十二 月三十一日止三個年度的建議年度上限）。」 3. 「動議授權任何一名執行董事( ...

此乃要件 請即處理 閣下如對本通函的任何方面或應採取的行動有任何疑問，應諮詢持牌證券交易商、銀行經理、律師、專業會計師或其 他專業顧問。 閣下如已售出或轉讓名下全部金山云控股有限公司的股份，應立即將本通函交予買主或承讓人，或送交經手買賣或轉 讓的銀行、持牌證券交易商或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示概不會就本通函全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Kingsoft Cloud Holdings Limited 金山云控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3896） （納斯達克股票代碼：KC） (1) 重續及修訂有關二零二二年金山軟件框架 協議的持續關連交易； (2) 重續及修訂有關二零二二年小米框架 協議的持續關連交易；及 (3) 股東特別大會通告 獨立董事委員會及獨立股東之獨立財務顧問 董事會函件載於本通函第6至33頁。獨立董事委員會函件載於本通函第34至35頁。獨立財務顧問函件載於本通函第36 至57頁。於二零二四年十二月三十 ...

Summary of Conference Call Company and Industry Overview - The conference call primarily discusses **Kingsoft Cloud** and its strategic direction under the leadership of the new CEO, **Zou**, who has made adjustments to the company's business strategy since mid-2022 [1][14]. Key Financial Metrics - The company has shown a positive trend in financial performance, with a gross profit margin reaching **16.3%** in Q3, indicating room for further improvement [4]. - Adjusted profit margins have also improved, with the adjusted EBITDA margin reaching **9.8%** in Q3, with expectations for further growth in Q4 [5][34]. - The revenue composition is shifting, with a decrease in the CDN business and an increase in the AI business, which is expected to contribute significantly to future revenue [2][6]. Strategic Focus Areas - The company emphasizes its commitment to **AI** and has seen AI revenue account for **31%** of its cloud revenue by Q3, reflecting rapid growth in this segment [9]. - Collaboration with **Xiaomi** and **Kingsoft** is highlighted as a key opportunity, particularly in AI applications and cloud services [3][8]. - The company is investing in R&D, with new centers established in **Beijing** and **Wuhan**, aiming to leverage local talent and reduce costs [10][26]. Customer and Revenue Dynamics - The customer base is diversifying, with a notable reduction in reliance on a single large client, which now accounts for about **10%** of total revenue [7][8]. - Revenue from Xiaomi and Kingsoft has increased significantly, contributing to over **36%** of total revenue growth in Q3 [8]. - The company is also focusing on sustainable growth through strategic partnerships and ecosystem development, which is expected to enhance its market position [9][10]. Market Challenges and Opportunities - The company faces challenges related to bandwidth cost increases and pricing pressures, which have impacted profit margins [7]. - Despite these challenges, the company anticipates a healthy growth trajectory in the AI and industry cloud sectors, with expectations for continued double-digit growth [6][39]. - The overall market for AI cloud services has shown robust demand, with the company positioned to capitalize on this trend [21][41]. Future Outlook - The company is optimistic about its future, with plans to enhance its AI capabilities and expand its market share in the cloud services sector [12][41]. - There is a focus on maintaining a balance between revenue growth and cost management, ensuring sustainable profitability [25][34]. - The management is confident in achieving operational profitability in the near term, driven by improved margins and cost efficiencies [34][35]. Additional Insights - The company is exploring innovative financing options to support its growth initiatives, including potential collaborations with Xiaomi and Kingsoft for funding [24][25]. - The strategic direction includes a commitment to maintaining a multi-cloud approach to mitigate risks associated with dependency on single cloud providers [29][31]. This summary encapsulates the key points discussed during the conference call, highlighting the company's strategic focus, financial performance, and market outlook.

（於開曼群島註冊成立的有限公司） （股份代號：3896） （納斯達克股票代碼：KC） 根據2021年股權激勵計劃授出受限制股份單位 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Kingsoft Cloud Holdings Limited 金山云控股有限公司 根據香港上市規則第17.06A條、17.06B條及17.06C條，董事會宣佈，本公司於 2024年11月26日（美國時間）根據2021年股權激勵計劃的條款向一名僱員參與 者授出962,007個受限制股份單位，待予接納，相當於962,007股相關股份或約 64,133股美國存託股（向下調整至最接近之美國存託股整數）及本公司於本公告日 期已發行股份總數的約0.03%。 授出受限制股份單位詳情 | 授出日期： | | --- | | 2024年11月26日（美國東部時間） | 購買價： 每股0.01美元 股份於授出日期的 收市價： 就於2024年11月26日（香港時間）在聯交所買賣的股份 而言，為每 ...

Group 1 - The stock price of Kingsoft Cloud has significantly increased, reaching HKD 3.87, which is an increase of HKD 0.46 or 13.49% compared to the previous trading day [1] - The stock exhibited a volatility of 8.50% and a turnover rate of 1.52% [1] - Analysts from Credit Lyonnais and CICC have raised their target prices for Kingsoft Cloud to USD 5.5 and USD 6.5 respectively [1] Group 2 - Bank of America has also revised its revenue forecasts for Kingsoft Cloud upwards by 4% to 8% for the years 2024 to 2026 [1]

Investment Rating - The report upgrades the investment rating of the company to "Buy" [2] Core Views - The company achieved total revenue of 1.89 billion yuan in Q3 2024, representing a year-on-year growth of 16.0%, primarily driven by accelerated growth in AI business [1] - The adjusted EBITDA margin reached 9.8%, showing strong operational momentum, with a significant year-on-year increase of 12.6 percentage points [1] - The company is expected to continue benefiting from its ecosystem with Xiaomi and Kingsoft, with a revenue cap of 11.3 billion yuan from 2025 to 2027 [1] Summary by Sections Financial Performance - Q3 2024 gross profit was 300 million yuan, up 54.6% year-on-year, with a gross margin of 16.1%, an increase of 4.0 percentage points [1] - Public cloud revenue in Q3 2024 was 1.18 billion yuan, a year-on-year increase of 15.6%, while AI revenue reached 360 million yuan, accounting for 31% of public cloud revenue [1] - Industry cloud revenue was 710 million yuan in Q3 2024, reflecting a year-on-year and quarter-on-quarter increase of 16.7% and 8.0%, respectively [1] Strategic Developments - The company signed a cooperation agreement with Zhuhai High-tech Zone to support the development of a "Cloud Smart City" [1] - The company is focusing on enhancing profitability and sustainability in its industry cloud projects, particularly in public services, healthcare, and finance [1] Profitability Forecast - The adjusted net profit for 2024 is revised down to -2.09 billion yuan, while the forecasts for 2025 and 2026 are adjusted up to -210 million yuan and 160 million yuan, respectively [1] - The company is expected to achieve positive adjusted operating profit margin by 2025 [1]

Group 1 - The core viewpoint of the report is that Kingsoft Cloud's revenue for the third quarter increased by 16% year-on-year, reaching 1.89 billion yuan, slightly exceeding market expectations, primarily driven by significant growth in AI revenue and a recovery in enterprise cloud business [1] - Gross margin improved by 4 percentage points year-on-year [2] - Bank of America expects further improvement in gross margin in the fourth quarter due to the expansion of AI business and adjustments in enterprise cloud projects, raising the target price from HKD 1.7 to HKD 3.4 while maintaining a "neutral" rating [2]

Market Performance - The Dow Jones Industrial Average rose by 139.53 points, or 0.32%, to close at 43,408.47 [1] - The Nasdaq Composite fell by 21.32 points, or 0.11%, to 18,966.14 [1] - The S&P 500 edged up by 0.13 points to 5,917.11 [1] Large-Cap Tech Stocks - Netflix surged over 1% to reach a new high [1] - Apple and Meta saw slight increases [1] - Tesla and Google dropped more than 1% [1] - Amazon, Microsoft, Nvidia, and Intel experienced minor declines [1] Chinese ADRs - The Nasdaq Golden Dragon China Index gained 1.44% [1] - Kingsoft Cloud soared over 42% [1] - iQIYI rose more than 4% [1] - Bilibili increased over 3% [1] - New Oriental and TAL Education Group both climbed more than 2% [1] - XPeng Motors, Baidu, and NIO saw gains of less than 1% [1] - Li Auto fell more than 1% [1]