Core Viewpoint - Kingsoft Cloud has entered into a cooperation framework agreement with Xiaomi, which includes the purchase of IDC services and network hardware, aimed at enhancing its cloud service capabilities and operational efficiency [1] Group 1: Agreement Details - The agreement is set to commence on July 29, 2025, with an initial term of three years for IDC services and one year for network hardware [1] - Kingsoft Cloud will utilize Xiaomi's existing IDC services and procure network hardware from Xiaomi, leveraging their long-term business relationship [1] Group 2: Strategic Benefits - The collaboration is expected to promote product innovation and business growth by integrating Xiaomi's advanced services and products with Kingsoft Cloud's offerings [1] - The terms and conditions for services and products from Xiaomi are comparable to those from independent third-party providers, ensuring stable and high-quality sources for IDC services and network hardware [1] - This partnership will reduce administrative costs associated with sourcing similar services from multiple providers, thereby improving overall operational efficiency [1]

格隆汇7月29日丨金山云(03896.HK)公告，于2025年7月29日，公司与小米订立2025年小米合作框架协 议，据此，(1)公司已同意购买而小米已同意提供IDC相关服务，为期三年，及(2)公司已同意购买而小 米已同意出售网络硬件设备，为期一年。 ...

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 （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） 有關二零二五年小米合作框架協議的持續關連交易 訂立二零二五年小米合作框架協議 董事會宣佈，於二零二五年七月二十九日（交易時段後），本公司與小米訂立二 零二五年小米合作框架協議，據此，(1)本公司已同意購買而小米已同意提供 IDC相關服務，初始期限自二零二五年七月二十九日起為期三年，及(2)本公司 已同意購買而小米已同意出售網絡硬件設備，初始期限自二零二五年七月二十 九日起為期一年。 香港上市規則之涵義 於本公告日期，小米直接及間接持有合共約11.12%股份，故為本公司的關連人 士（定義見香港上市規則）。據此，根據香港上市規則第十四A章，訂立二零二 五年小米合作框架協議及其項下擬進行的交易構成本公司的持續關連交易。 由於(1)採購IDC相 ...

Market Capitalization Summary - New Oriental has a market capitalization of 15.943 billion [2] - TAL Education has a market capitalization of 10.927 billion [2] - Vipshop has a market capitalization of 9.612 billion [2] - NIN (Miniso) has a market capitalization of 5.940 billion [2] - JD.com has a market capitalization of 27.23 billion [2] - iQIYI has a market capitalization of 2.548 billion [2] Stock Performance - New Oriental's stock decreased by 0.35 (-1.75%) [2] - TAL Education's stock decreased by 0.10 (-1.93%) [2] - Vipshop's stock decreased by 0.53 (-2.25%) [2] - Miniso's stock increased by 0.64 (+1.36%) [2] - JD.com's stock decreased by 0.54 (-3.42%) [2] - iQIYI's stock decreased by 0.07 (-2.31%) [2] Additional Company Insights - Huami Technology has a market capitalization of 1.97 billion [3] - Cheetah Mobile has a market capitalization of 1.63 billion [3] - Baosheng E-commerce has a market capitalization of 1.84 billion [3] - Tuniu has a market capitalization of 1.34 billion [3] - The stock of Tuniu increased by 0.42 (+4.60%) [3]

Market Capitalization Summary - New Oriental has a market capitalization of 16.17 billion [2] - TAL Education (好未来) has a market capitalization of 11.26 billion [2] - Vipshop (唯品会) has a market capitalization of 8.21 billion [2] - MINISO (名创优品) has a market capitalization of 5.91 billion [2] - Kingsoft Cloud (金山云) has a market capitalization of 4.40 billion [2] - 51Talk (在线教育) has a market capitalization of 1.75 billion [4] Stock Performance - New Oriental's stock decreased by 0.02 (-0.10%) [2] - TAL Education's stock increased by 0.14 (+2.97%) [2] - Vipshop's stock decreased by 0.17 (-1.08%) [2] - MINISO's stock increased by 0.20 (+2.04%) [2] - Kingsoft Cloud's stock decreased by 1.26 (-3.49%) [2] - 51Talk's stock decreased by 0.16 (-2.71%) [4] Additional Company Insights - Huya (虎牙) has a market capitalization of 7.88 billion [4] - Sohu (搜狐) has a market capitalization of 4.70 billion [4] - 9F Group (玖富) has a market capitalization of 1.89 billion [4] - Financial One Account (金融壹账通) has a market capitalization of 2.91 billion [4]

Group 1 - The Nasdaq China Golden Dragon Index opened lower and is currently down over 1% [1] - Xiaoma Zhixing increased by over 4%, while Miniso rose by over 1% [1] - Lexin fell by over 3%, and both Bilibili and Kingsoft Cloud dropped by over 2% [1]

Core Insights - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of July 25, 2025, highlighting their respective valuations in billions of dollars [1]. Group 1: Market Capitalization Rankings - The top three companies by market capitalization are: 1. Alibaba: $1,000.00 billion 2. Tencent: $800.00 billion 3. Baidu: $600.00 billion [3] - Other notable companies in the top 10 include: - JD.com: $482.47 billion - SMIC (Semiconductor Manufacturing International Corporation): $519.90 billion - Tencent Music: $328.83 billion [3][4] Group 2: Additional Rankings - Companies ranked from 11 to 20 include: - Li Auto: $316.74 billion - Xpeng Motors: $182.36 billion - NIO: $109.38 billion [4][5] - The rankings continue with companies such as: - New Oriental: $74.44 billion - Kingsoft: $61.55 billion - Perfect World: $38.92 billion [5]

Market Capitalization Overview - The market capitalizations of various companies are listed, with New Oriental at 16.195 billion, TAL at 10.802 billion, and Vipshop at 6.051 billion [2]. - Other notable companies include MINISO at 5.930 billion, Kingsoft Cloud at 4.975 billion, and Weibo at 2.586 billion [2][3]. Stock Performance - New Oriental's stock increased by 0.78 (+4.01%), while TAL's stock decreased by 0.15 (-3.05%) [2]. - Vipshop's stock fell by 0.29 (-1.76%), and MINISO's stock saw a decrease of 2.93 (-7.34%) [2]. - Kingsoft Cloud's stock rose by 1.53 (+8.71%), indicating a positive performance [2]. Company Comparisons - The market value of various companies shows significant differences, with New Oriental leading the list, followed by TAL and Vipshop [2]. - Companies like Huya and iQIYI have market values of 1.984 billion and 2.724 billion, respectively, reflecting their positions in the market [2][3]. Sector Insights - The data reflects a mixed performance across different sectors, with some companies experiencing gains while others face declines [2][3]. - The overall market sentiment appears to be cautious, as indicated by the fluctuations in stock prices across various companies [2][3].

Group 1 - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of July 24, 2025 [1] - The highest-ranked company is Alibaba, with a market capitalization of 1,000 billion [3] - Other notable companies in the top 10 include Tencent with 600 billion and Baidu with 320 billion [3][4] Group 2 - The rankings show significant market values, with companies like JD.com at 489.1 billion and Kuaishou at 431.56 billion [3] - The list includes various sectors such as e-commerce, automotive, and software, indicating a diverse technology landscape [4][5] - Companies like Xpeng Motors and NIO are also featured, with market caps of 179.5 billion and 111.42 billion respectively [3][4]

Market Performance - The US stock market saw significant gains on July 23, with the Dow Jones Industrial Average rising by 507.85 points, or 1.14%, closing at 45010.29 points. The Nasdaq Composite increased by 127.33 points, or 0.61%, closing at 21020.02 points, marking its first close above the 21000-point threshold. The S&P 500 index rose by 49.29 points, or 0.78%, closing at 6358.91 points [1][3][4]. Trade Agreements - President Trump announced a trade agreement between the US and Japan, which has heightened market expectations for further trade agreements before the August 1 tariff deadline. The agreement includes a reduction of the reciprocal tariff rate from 25% to 15% and Japan's commitment to invest $550 billion in the US [2][6][7]. Sector Performance - In the S&P 500, nine out of eleven sectors experienced gains, with the healthcare and industrial sectors leading with increases of 2.03% and 1.75%, respectively. The utilities and consumer staples sectors saw declines of 0.79% and 0.07% [8]. - Major technology stocks mostly rose, with AMD increasing over 3%, and other companies like NVIDIA, Boeing, and TSMC rising over 2%. Financial stocks also saw gains, with Mizuho Financial up over 6% and UBS Group up over 3% [8]. Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.75%, with notable increases in stocks such as iQIYI, which rose over 4%, and Tiger Brokers, which increased over 3%. However, some stocks like NIO and Li Auto saw declines of over 1% [9].