Core Viewpoint - Kingsoft Cloud (03896) reported a strong performance for the first half of 2025, with significant revenue growth driven by AI-related customer demand and industry cloud project expansions [1] Financial Performance - Revenue reached approximately 4.319 billion yuan, representing a year-on-year increase of 17.8% [1] - Gross profit was approximately 657 million yuan, showing a year-on-year growth of 7.4% [1] - Adjusted EBITDA was approximately 725 million yuan, with a remarkable year-on-year increase of 672.62% [1] - Adjusted EBITDA margin stood at 16.8%, an increase of 14.2 percentage points compared to the same period in 2024 [1] Business Strategy - The revenue increase was primarily attributed to strong growth in AI-related customer income and the expansion of industry cloud projects, although this was partially offset by a deliberate reduction in services provided to content delivery network (CDN) customers [1] - Looking ahead to the second half of the year, the company aims to maintain high-quality and sustainable development strategies, continuously investing in technology research and development, and enhancing AI capabilities [1] - The company plans to actively embrace the cloud demands of the Xiaomi and Kingsoft ecosystems in the AI era, with a focus on creating value for customers, shareholders, employees, and society [1]

Market Movements - US stock index futures are all down ahead of the market opening, with Dow futures down 0.11%, S&P 500 futures down 0.08%, and Nasdaq futures down 0.16% [1] - European indices show mixed results, with Germany's DAX down 0.41%, UK's FTSE 100 up 0.26%, France's CAC 40 up 0.12%, and the Euro Stoxx 50 unchanged [1] Oil Prices - WTI crude oil is up 1.25% at $62.54 per barrel, while Brent crude oil is up 1.11% at $66.52 per barrel [2] Market News - Morgan Stanley reports that major tech stocks like Google, Amazon, Apple, Meta, Microsoft, and Nvidia are experiencing the largest underweight by actively managed funds in 16 years, suggesting potential for future gains as institutional funds may increase their holdings [3] - Citadel Securities' Scott Rubner predicts that retail investors' buying activity may slow down in September after a strong market performance in June and July, which typically marks a low point for retail participation [4] - Deutsche Bank questions US Treasury Secretary's call for a significant rate cut, asserting that current interest rates are reasonable based on traditional monetary policy models [4] Company News - Google faces potential forced divestiture of its Chrome browser as part of an antitrust ruling, marking a significant regulatory challenge [6] - Meta is restructuring its AI team into four independent groups to better leverage its recent talent acquisitions, aiming to accelerate its pursuit of "superintelligence" [7] - Target's Q2 net sales fell 0.9% to $25.21 billion, but exceeded market expectations, with adjusted EPS of $2.05, slightly above forecasts [8] - Lowe's Q2 revenue reached $23.96 billion, slightly above expectations, with adjusted EPS of $4.33, also beating forecasts [9] - Estée Lauder's Q4 sales fell 12% to $3.41 billion, with a net loss of $546 million, impacted by restructuring costs [10] - Baidu reported Q2 net profit of 7.322 billion yuan, with total revenue of 32.713 billion yuan, a 4% year-over-year decline [11] - iQIYI's Q2 total revenue was 6.63 billion yuan, with membership service revenue of 4.09 billion yuan [11] - Kingsoft Cloud's Q2 revenue grew 24.2% year-over-year to 2.35 billion yuan, with AI revenue increasing over 120% [11] - Futu Holdings' Q2 revenue rose 69.7% to 5.311 billion HKD, with net profit increasing by 105.2% [12] - SQM's Q2 core earnings dropped 28% due to falling lithium prices, but the company expects prices to recover in Q3 [12]

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） 內幕消息 截至二零二五年六月三十日止三個月的 未經審核財務業績 本公告乃根據香港聯合交易所有限公司證券上市規則第13.09條及證券及期貨條例 （第571章）第XIVA部刊發。 金山云控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司、 其子公司及併表聯屬實體（統稱「本集團」）根據美國證券交易委員會（「美國證交 會」）適用規則刊發的截至二零二五年六月三十日止三個月未經審核簡明綜合業績 （「第二季度業績」）。 第二季度業績乃根據美利堅合眾國公認會計準則（「美國公認會計準則」）編製，其 有別於國際財務報告準則。 本公告附件一為本公司於二零二五年八月二十日（美國東部時間）就第二季度業績 刊發的新聞稿全文，其中部分內容可能構成 ...

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 3896) (Nasdaq Stock Ticker: KC) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2025 The board (the "Board") of directors (the "Directors") of Kingsoft Cloud Holdings Limited (the "Company") is pleased to announce the unaudited interim consolidated results of the Company, its subsidiaries and consolidated affiliated entities (collectively, the "Group") for the six months ended June 30, 2025 (the "Reporting Period"), toge ...

Core Insights - The core viewpoint of the article highlights the strong performance of Kingsoft Cloud in Q2 2025, driven by the positive impact of AI on its main business operations [1] Financial Performance - Kingsoft Cloud reported Q2 revenue of 2.35 billion yuan, representing a year-on-year increase of 24.2% and a quarter-on-quarter increase of 19.3% [1] - AI billing revenue reached 730 million yuan, showing a year-on-year growth of over 120%, with public cloud revenue accounting for 45% of total revenue [1] - Public cloud revenue was 1.63 billion yuan, reflecting a year-on-year increase of 31.7%, while industry cloud revenue was 720 million yuan, with a year-on-year growth of 10.1% [1] - Adjusted EBITDA increased by 570.1% year-on-year to 410 million yuan, with an adjusted EBITDA margin of 17.3%, up 14.1 percentage points year-on-year [1]

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） 截至二零二五年六月三十日止六個月的中期業績公告 金山云控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈本公 司、其子公司及併表聯屬實體（統稱「本集團」）截至二零二五年六月三十日止六個 月（「報告期」）的未經審計中期綜合業績，以及二零二四年同期比較數據。該等截 至二零二五年六月三十日止六個月的未經審計簡明合併財務報表乃根據美國公認 會計準則（「美國公認會計準則」）編製，並已由本公司之審計委員會（「審計委員 會」）審閱。 於本公告中，「我們」及「我們的」指本公司及（除文義另有所指）本集團。 | 財務摘要 | | | | | --- | --- | --- | --- | | | 截至六月三十日止六個月 | | | | | ...

Market Performance - US stock indices showed mixed performance, with the Nasdaq down 1.46% at 21314.95 points, S&P 500 down 0.59% at 6411.37 points, and Dow Jones up 0.02% at 44922.27 points, reaching an intraday all-time high [1] - The S&P 500 saw six sectors rise, led by real estate with a 1.8% increase, while technology and communication services fell over 1.9% and 1.2% respectively [1] Individual Stock Movements - Nvidia experienced a significant drop of 3.5%, marking its largest single-day decline in nearly four months, while major tech stocks like Apple, Microsoft, Google, and Meta also faced pressure [1] - Intel rose approximately 7% due to a $2 billion investment from SoftBank, interpreted as a positive endorsement of its chip strategy [1] - Home Depot's stock increased by 3.17% despite quarterly earnings falling short of expectations, as it maintained its full-year guidance, boosting investor confidence [1] Chinese Stocks and Market Sentiment - The Nasdaq Golden Dragon China Index fell by 0.9%, with notable declines in stocks such as Xunlei (over 10%), Weibo (over 6%), and Kingsoft Cloud (nearly 5%) [2] - Market sentiment is cautious ahead of the Kansas City Fed's annual economic symposium, with expectations for potential clues on future interest rate policies from Fed Chair Jerome Powell [2] Commodity Market - International oil prices declined on August 19, with WTI crude oil futures down $0.93 to $61.77 per barrel (1.48% drop) and Brent crude oil futures down $0.81 to $65.79 per barrel (1.22% drop) [2] - COMEX gold futures fell by $19.30, a decrease of 0.57%, settling at $3358.7 per ounce [3] Fiscal Data - China's fiscal revenue for the first seven months of the year reached 135839 billion yuan, showing a year-on-year growth of 0.1%, with July's revenue growth of 2.6% marking a new high for the year [7] Industry Developments - The Ministry of Industry and Information Technology held a meeting to discuss the photovoltaic industry, emphasizing the need for regulatory measures to ensure healthy competition and product quality [9] - The China Futures Association reported that the country's commodity futures market accounts for over 60% of global trading volume, with 152 futures and options products listed, including 24 specific products open to international markets [10] AI and Manufacturing - Shanghai's government released a plan to accelerate the integration of AI and manufacturing, aiming to enhance the level of intelligent development in the manufacturing sector over the next three years [11][12]

Company News - Xiaomi Group reported Q2 revenue of approximately 116 billion yuan, a year-on-year increase of 30.5%, and a net profit of 10.8 billion yuan, up 75.4% year-on-year. Global smartphone shipments reached 42.4 million units, a 0.6% increase year-on-year, with new car deliveries at 81,302 units [7] - Kunlun Energy achieved revenue of 97.543 billion yuan in the first half of the year, a 4.97% year-on-year increase, while net profit decreased by 4.36% to 3.161 billion yuan. Natural gas sales reached 29.095 billion cubic meters, up 10.05% year-on-year [7] - Fuyao Glass reported revenue of 21.45 billion yuan in the first half of the year, a 16.9% year-on-year increase, and a net profit of 4.8 billion yuan, up 37.3% year-on-year [8] - Sunny Optical Technology recorded revenue of 19.652 billion yuan in the first half of the year, a 4.2% year-on-year increase, with net profit rising by 52.56% to 1.646 billion yuan [9] - XPeng Motors reported Q2 revenue of 18.27 billion yuan, a significant year-on-year increase of 125.3%, with a net loss of 480 million yuan, narrowing by 62.8%. Total vehicle deliveries in Q2 reached 103,181 units, a 241.6% increase year-on-year [9] - Pop Mart reported revenue of 13.88 billion yuan in the first half of the year, a year-on-year increase of 204.4%, with net profit rising by 396.5% to 4.57 billion yuan [9] - Oriental Selection's stock price dropped sharply due to rumors involving CEO Zhou Chenggang, prompting the company to issue a clarification statement and initiate legal proceedings [9] Industry News - A meeting was held by multiple departments to discuss the photovoltaic industry, focusing on further regulating competitive order within the sector. Industry insiders noted that efforts to combat internal competition are intensifying, and recent price increases in large component procurement by state-owned enterprises indicate a significant market trend [3] - The market anticipates an 80% probability of the Federal Reserve lowering interest rates by 25 basis points in September, with expectations fully priced in for two rate cuts by the end of the year [4]

Group 1 - Japan's July import and export data, along with June's core machinery orders, are scheduled for release [1] - China's August one-year and five-year loan market quoted rates will be announced [1] - The State Council Information Office will hold a press conference regarding the preparations for the military parade [1] Group 2 - New Zealand's central bank will announce its official cash rate and hold a monetary policy press conference [1] - The UK will release its July Consumer Price Index (CPI) [1] - The Eurozone's final July CPI will be published [1] Group 3 - Major companies including Baidu, iQIYI, and Kingsoft Cloud are set to release their earnings reports after the Hong Kong stock market closes [1] - U.S. companies such as Lowe's, Target, and Estée Lauder will report their earnings before the market opens [1] - The U.S. Energy Information Administration will release its weekly crude oil inventory report [1] Group 4 - The Federal Reserve will publish the minutes from the July FOMC monetary policy meeting [1] - The President of the Atlanta Federal Reserve will discuss economic outlook [1] - Google will hold a press conference to launch new Pixel brand hardware [1]

Group 1 - The core business of the company is providing global cloud services, with a comprehensive cloud computing infrastructure and operational system [1] - The company serves over 500 high-quality clients with more than 150 solutions, utilizing advanced technologies such as big data, artificial intelligence, and edge computing [1] - As of the first quarter of 2025, the company reported total revenue of 1.97 billion yuan and a net loss of 314 million yuan [2] Group 2 - The company's stock price decreased by 2.05% to 7.63 yuan per share, with a trading volume of 357 million yuan as of August 19 [1] - The company is scheduled to disclose its mid-year report for the fiscal year 2025 on August 20 [3]