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 2 | | 普通決議案 | | 所投票數及百分比(%) | | | --- | --- | --- | --- | --- | | | | 贊成 | 反對 | 棄權 | | 11. | 批准、確認及╱或追認 | 587,324,114 | 1,558,000 | 260,000 | | | | (99.74%) | (0.26%) | | | | 本公司（作為發行人）與金山軟件有 (a) | | | | | | 限公司（作為認購人（「認購人」）） | | | | | | 所訂立之日期為2025年4月16日之 | | | | | | 認購協議（「認購協議」），內容有關 | | | | | | 本公司按認購價每股5.83港元發行 | | | | | | 69,375,000股本公司普通股（「認購股 | | | | | | 份」 ...

美股盘前中概股多数上涨，金山云涨近8%，万国数据涨近5%，京东涨近3%，携程、小鹏汽车涨超 2%。 ...

Market Capitalization Summary - New Oriental has a market capitalization of 13.696 billion [2] - TAL Education has a market capitalization of 8.011 billion [2] - Vipshop has a market capitalization of 8.175 billion [2] - 51Talk has a market capitalization of 7.533 billion [2] - Xunlei has a market capitalization of 6.438 billion [2] - 76.67 billion market capitalization for another unspecified company [2] - 56.88 billion market capitalization for another unspecified company [2] - 32.89 billion market capitalization for another unspecified company [2] - 16.27 billion market capitalization for another unspecified company [2] - 12.30 billion market capitalization for Lexin [2] - 9.91 billion market capitalization for Youdao [2] - 5.19 billion market capitalization for Dada [2] Stock Performance - New Oriental's stock increased by 0.09 (+0.50%) [2] - TAL Education's stock decreased by 0.01 (-0.28%) [2] - Vipshop's stock increased by 0.27 (+1.46%) [2] - 51Talk's stock decreased by 1.09 (-2.28%) [2] - Xunlei's stock increased by 0.16 (+1.11%) [2] - 76.67 billion market capitalization company increased by 0.13 (+1.24%) [2] - 56.88 billion market capitalization company decreased by 0.14 (-0.77%) [2] - 32.89 billion market capitalization company increased by 0.65 (+2.58%) [2] - 16.27 billion market capitalization company increased by 0.02 (+1.20%) [2] - Lexin's stock increased by 0.22 (+2.68%) [2] - Youdao's stock decreased by 0.11 (-1.21%) [2] - Dada's stock decreased by 0.06 (-1.58%) [2] Additional Company Insights - The market capitalization of various companies ranges significantly, with some exceeding 10 billion [2] - Companies like New Oriental and TAL Education show contrasting stock performance trends, indicating varying investor sentiment [2] - The overall market appears to be volatile, with both increases and decreases in stock prices across different companies [2]

先给大伙儿拆解外围市场对A股的影响。美联储最新表态说关税问题让降息没戏，美元指数又冲到104以上，全球资金避险情绪升温。不过中概股的强势表 现说明，外资对咱A股科技板块的兴趣还在。欧洲市场的分化也值得注意，德国制造业数据向好支撑DAX指数创新高，但法英经济疲软拖累股市，这种分化 可能让外资在配置A股时更谨慎。 再看看技术面，上证指数最近在3300点到3400点之间反复震荡，今天早盘的关键支撑位在3380点。日线MACD绿柱持续缩短，空方动能衰竭明显，但3400点 上方套牢盘压力不小。创业板指今天可能继续领涨，但2050点附近有强压力位，要突破得看科技成长股能不能持续发力。成交量是关键，早盘半小时要是有 效放大，今天冲击3400点的概率就大；要是缩量到1.1万亿以下，可能得回踩3350点支撑位。 消息面上今天有三大看点。第一，央行开展1000亿买断式逆回购，银行、券商这些高负债板块今天可能表现不错。第二，国家数据局在10个地方搞数据要素 试验区，数据交易、云计算板块可能迎来炒作机会。第三，印尼宣布购买咱们的歼-10战斗机，军工板块今天可能闻风而动。不过也要注意利空因素，美国 钢铝关税涨到50%，钢铁、汽车出口企 ...

Group 1: Market Performance - US stock market showed mixed results with the Dow Jones down 0.22%, S&P 500 up 0.01%, and Nasdaq up 0.32% [1] - Nasdaq China Golden Dragon Index increased by 2.0%, with major Chinese concept stocks like NIO up over 6%, Alibaba, Xpeng Motors, and Kingsoft up over 3%, and JD.com up over 2% [1] Group 2: Investment Strategies - Securities firms are optimistic about the A-share market for the second half of 2025, indicating ongoing valuation recovery of Chinese assets, with a focus on technology sectors [1] - Many firms also express confidence in the Hong Kong stock market's performance, particularly in the tech sector benefiting from the current AI industry narrative [1] Group 3: Corporate Developments - Zhongke Electric plans to invest 8 billion yuan in an integrated lithium-ion battery anode material base project in Oman, aiming for an annual production capacity of 200,000 tons [10] - Li New Energy intends to invest approximately 1.25 billion yuan in three independent energy storage projects, with a total capacity of 1,400 megawatt-hours [11] - China Power Construction announced its subsidiary won a 6.282 billion yuan energy storage project in Inner Mongolia, with a total construction period of 214 days and an operation period of 20 years [19]

受到该消息影响，美股钢铁股盘后普遍走高。钢铁公司CLEVELAND-CLIFFS盘后大幅拉升，截至发稿 涨幅超过26%。 昨夜，美股巨震。三大指数盘中加速跳水后拉升，走出"V"形行情。 特斯拉跌超3%。特朗普表示，包括特斯拉在内的美国汽车制造商必须在美国生产整车和所有零部件， 而不是在国外生产。之前汽车制造商在加拿大、墨西哥、欧洲生产零部件，这让他很困扰，但在接下来 的一年里，这些汽车制造商"必须在美国生产整车"。 多只中概股重挫。纳斯达克中国金龙指数下跌2.69%。迅雷跌超11%，小牛电动跌超8%，金山云跌超 5%，小鹏汽车、蔚来均跌超3%。 （原标题：特朗普突发，又加关税！美股巨震！） 美国关税又有新动态：当地时间5月30日，美国总统特朗普表示，将把进口钢铁的关税从25%提高至 50%。 美国白宫当天在社交媒体上发布公告称，"为进一步保护美国钢铁行业免受外国和不公平竞争的影响， 从下周起，美国进口钢铁关税将从25%提高至50%。" 当地时间5月30日，欧盟委员会负责贸易和经济安全等事务的委员谢夫乔维奇与美国商务部长卢特尼克 进行了通话。谢夫乔维奇强调，双方应持续推进合作，致力于寻找前瞻性解决方案，以缓解当 ...

Market Overview - US stock index futures rose before the market opened, with Dow futures up 0.39%, S&P 500 futures up 0.88%, and Nasdaq futures up 1.34% [1] - European indices also showed positive movement, with Germany's DAX up 0.13%, UK's FTSE 100 up 0.05%, France's CAC40 up 0.63%, and the Euro Stoxx 50 up 0.50% [2][3] Commodity Prices - WTI crude oil increased by 0.40% to $62.09 per barrel, while Brent crude oil rose by 0.26% to $64.49 per barrel [3][4] Corporate News - Nvidia (NVDA.US) reported Q1 revenue of $44.1 billion, a 69% year-over-year increase, with data center revenue at $39.1 billion, up 73% year-over-year [11] - Salesforce (CRM.US) exceeded Q1 expectations with revenue growth of 8% to $9.8 billion and raised its revenue guidance for FY2026 [12] - C3.ai (AI.US) reported a 26% increase in revenue to $10.87 million for Q4 FY2025, with a positive outlook for FY2026 [13] - HP (HPQ.US) lowered its full-year earnings forecast due to tariff costs and economic weakness, with Q2 revenue of $13.2 billion, exceeding expectations but EPS falling short [14] - Li Auto (LI.US) reported a net profit of 647 million RMB for Q1 2025, a 9.4% increase year-over-year, with total vehicle deliveries of 92,864 units [15] - Futu Holdings (FUTU.US) saw Q1 revenue grow by 81.1% to 4.695 billion HKD (approximately $603 million), with net profit increasing by 97.7% [16] Economic Data and Events - Upcoming economic data includes the revision of the US Q1 GDP annualized rate and initial jobless claims for the week ending May 24 [17]

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。 董事會謹此就馮先生於任期內向本公司作出的貢獻向其表達衷心謝意。 委任非執行董事 董事會欣然宣佈，張鐸先生（「張先生」）已獲委任為本公司非執行董事及公司治理 委員會成員，自本公司將於二零二五年六月九日舉行的股東週年大會結束起生效。 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） (I) 非執行董事辭任；及 (II) 委任非執行董事 非執行董事辭任 金山云控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，馮宏華先生 （「馮先生」）因需要更專注和致力從事其他要務，已提出辭任非執行董事，自本公 司將於二零二五年六月九日舉行的股東週年大會結束起生效。在馮先生辭任後， 彼亦不再擔任董事會轄下公司治理委員會（「公司治理委員會」）的成員。 馮先生確認，彼並無向本公司提出任何申索，與董事會 ...

Financial Data and Key Metrics Changes - Kingsoft Cloud reported a year-over-year revenue growth of 11%, reaching RMB1.97 billion [8][19] - Non-GAAP gross profit increased by 9.6% year-over-year, totaling RMB327.7 million, but saw a quarter-over-quarter decrease of 23.4% [22] - Non-GAAP EBITDA margin improved to 16.2%, up from 1.9% in the same quarter last year [24] Business Line Data and Key Metrics Changes - Public cloud revenue reached RMB1.35 billion, a 14% increase year-over-year, driven by AI-related business [8][20] - AI gross billing surged to RMB525 million, representing over 200% year-over-year growth and accounting for 39% of public cloud revenue [10][13] - Enterprise cloud revenue was RMB616 million, up 5% year-over-year, but experienced a 25% sequential decline due to seasonal factors [20][21] Market Data and Key Metrics Changes - Revenue from the Xiaomi and Tingsoft ecosystem reached RMB500 million, a 50% increase year-over-year, contributing 25% to total revenue [11] - The public service sector is advancing AI applications, with Kingsoft Cloud building a rich set of model resources through an open-source model marketplace [14] Company Strategy and Development Direction - The company is focusing on high-quality and sustainable development, particularly in AI [8] - Kingsoft Cloud aims to strengthen its ecosystem cooperation and computing infrastructure deployment to advance its AI cloud services [12][18] - The company is leveraging partnerships for financing AI infrastructure, including financial leasing and bank loans [46] Management Comments on Operating Environment and Future Outlook - Management acknowledged market pressures and supply chain uncertainties but expressed confidence in long-term strategies [12] - The company expects better operating margins in the second half of the year, driven by top-line growth and AI project deployments [41] - Management highlighted the importance of tracking gross margin and EBITDA margin profiles as indicators for future performance [41] Other Important Information - Total capital expenditure for the quarter was RMB605 million, with a focus on AI infrastructure [20][46] - The company is prepared for potential impacts from chip restrictions, having built inventory and strengthened local partnerships [49][51] Q&A Session Summary Question: What are the reasons behind the weaker growth in public and enterprise cloud? - Management noted seasonality impacts, particularly due to the Chinese New Year and project delivery cycles, affecting enterprise cloud revenue [29] Question: Can management elaborate on the latest demand from Xiaomi? - The demand from Xiaomi is significant, with their new language model trained on Kingsoft's cluster, indicating potential for future revenue growth [30] Question: What are the business opportunities in the government affairs AI field? - The market for AI in government affairs is developing rapidly, leading to a joint solution with Kingsoft Office [34][35] Question: What is the outlook for non-GAAP operating margin in subsequent quarters? - Management expects improved operating margins in the second half of the year, contingent on top-line growth and project deployments [40][41] Question: How is the AI CapEx and OpEx structured? - Total CapEx for the quarter was RMB605 million, with a breakdown of OpEx including R&D and sales expenses [48]

Kingsoft Cloud Holdings (KC) Q1 2025 Earnings Call May 28, 2025 08:15 AM ET Speaker0 and thank you for standing by. Welcome to the Kingsford Cloud First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Nicole Schen, IR Director of Kingsoft Cl ...