格隆汇10月2日丨金山云(03896.HK)公告，董事会欣然宣布，配售协议所有条件均已达成，且配售事项 已于2025年10月2日完成。根据配售协议的条款及条件，合共3.38亿股配售股份已由配售代理按配售价 每股配售股份8.29港元配售予不少于六名承配人，相当于紧随配售事项完成后公司经配发及发行配售股 份扩大后已发行普通股约7.46%。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 金山云控股有限公司 呈交日期： 2025年10月2日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 03896 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫 ...

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。 本公告僅供參考，且並不構成收購、購買或認購本公司任何證券的邀請或要約。本公告並不構 成向美國、香港或任何其他司法管轄區的公眾提呈出售本公司任何證券的招股章程、發售通 函、通告、通函、宣傳冊或廣告，亦並非向公眾發出邀請以就認購或購買本公司任何證券作出 要約，亦非旨在邀請公眾就認購或購買本公司任何證券作出要約。本公告不得被視為認購或購 買本公司任何證券的勸誘，且並無意進行有關勸誘。本公司或配售代理或其各自的任何聯屬公 司及顧問概無於美國、香港或任何其他司法管轄區透過刊發本公告而發售本公司任何證券或徵 求購買本公司任何證券的要約。 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） 完成根據一般授權配售新股份 根據配售協議的條款及條件，合共338,000,000股配售股份已由配售代理按配售價 每 ...

Core Insights - The demand for computing power in the AI cloud sector is surging, with Alibaba Cloud's executives claiming that global data center energy consumption will increase tenfold by 2032 compared to 2022 [1][3] - Kingsoft Cloud announced a fundraising of HKD 2.7 billion to invest in its AI business, but its stock price fell, indicating market skepticism despite the growth in revenue [3][5] Company Performance - Kingsoft Cloud's revenue grew by 17.8% year-on-year in the first half of 2025, with AI business revenue skyrocketing by 120% to CNY 729 million, accounting for nearly 40% of public cloud revenue [3][5][10] - Despite revenue growth, Kingsoft Cloud has not turned a profit since its establishment in 2012, accumulating losses of CNY 8.4 billion from 2021 to 2024, with a loss of CNY 770 million in the first half of 2025, which is an increase of 7.81% year-on-year [5][6] Financial Structure - Kingsoft Cloud's reliance on external financing is increasing, with a debt ratio rising from 68.7% to 71.6% [5][6] - The company recently raised over HKD 2 billion in April 2025 and is now seeking an additional HKD 2.7 billion, raising concerns about its cash flow sustainability [6] Strategic Partnerships - Kingsoft Cloud has a strategic partnership with Xiaomi, being the only cloud platform in Xiaomi's ecosystem, which provides a stable demand for its services, particularly in smart driving and AIoT devices [8][10] - The revenue from Xiaomi and Kingsoft's ecosystem reached CNY 630 million in Q2 2025, a year-on-year increase of 69.5%, representing 26.8% of total revenue [10] Market Positioning - Kingsoft Cloud's strategy focuses on deepening its ecosystem rather than competing directly with larger players like Alibaba and Tencent, which allows it to avoid homogenized competition [12][16] - The company is leveraging its partnerships to create a stable customer base and test its technology in various verticals, which is crucial for long-term growth [12][16] Long-term Outlook - The long-term value of Kingsoft Cloud will depend on its ability to monetize its ecosystem and convert enterprise clients from WPS into AI cloud users [14] - The successful implementation of new technologies, such as the ninth-generation cloud server and data management platform, is essential for sustaining growth and mitigating losses [14][16]

周四热门中概股多数下跌，纳斯达克中国金龙指数跌1.56%。金山云初步收跌超10%，大全新能源跌超 8%，蔚来、理想、万国数据、B站至少收跌超4%，新东方则涨超1%，小鹏涨2.5%。 来源：滚动播报 ...

| 美股指数 | | | | --- | --- | --- | | 道琼斯 | 纳斯达克 | 标普500 | | 46174.23 | 22380.21 | 6622.17 | | +226.91 +0.49% | -4.49 -0.02% | +17.45 +0.26% | | 中国金龙 | 纳指100期货 | 标普500期货 | | 8516.43 | 24579.75 | 6666.50 | | -149.15 -1.72% | -49.50 -0.20% | +6.75 +0.10% | 记者丨张嘉钰 叶麦穗 编辑丨曾静娇 包芳鸣 当地时间周五（9月26日），美股三大指数集体高开，但随后走势出现分化，截至发稿，道指涨 0.49%，标普500指数涨0.26%，纳指跌0.02%。 中概股整体回调，纳斯达克中国金龙指数跌1.72%。 经过一轮猛涨"整顿"，市场基本没有看空黄金的声音。 德意志银行表示，黄金价格再度刷新纪录高位，主要是因为避险情绪。该行分析师亨利·艾伦在一份研 报中表示："投资者一方面看好股市，但同时也担忧存在重大下行风险。黄金价格的驱动因素很多，其 中之一就是它被视为避风港"。 9月初，高 ...

Market Overview - The U.S. stock market opened higher on September 26, with the Dow Jones up 0.49% and the S&P 500 up 0.26%, while the Nasdaq experienced a slight decline of 0.02% [1] - The Nasdaq China Golden Dragon Index fell by 1.72%, indicating a general pullback in Chinese concept stocks [2] Key Stock Movements - Major Chinese concept stocks saw significant declines, with Kingsoft Cloud down over 11%, Daqo New Energy down more than 8%, Bilibili down over 5%, and NIO down over 6% [2] - Among the tech giants, Tesla rose by 0.43%, Amazon by 0.37%, while Nvidia fell by 0.9% [3] Gold and Silver Market - Gold prices surged, reaching approximately $3,780 per ounce, with a rise of about 0.8%. By 23:00, London gold was up 0.79% at $3,778.475 per ounce, and silver increased by over 1% [3] - Deutsche Bank noted that gold prices reached record highs due to heightened risk aversion among investors, who are concerned about significant downside risks in the stock market [5] - Goldman Sachs projected that gold prices could soar to $4,000 per ounce by 2026 under baseline scenarios, and potentially reach $4,500 per ounce in tail risk scenarios. If just 1% of U.S. Treasury holdings were to flow into gold, prices could approach $5,000 per ounce [5] Long-term Outlook for Gold - Analysts from Huatai Securities indicated that despite short-term pressures from interest rate cuts, the long-term trend for gold prices remains bullish due to potential shifts in U.S. monetary policy after the current Fed Chair's term ends [5]

每经AI快讯，美股中概股集体下挫，金山云大跌超11%，万国数据、蔚来跌超6%，百度、阿里、网 易、京东、理想汽车均跌约3%。 ...

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) Date as postmarked Dear Non-Registered Holder(s) (Note 1) , Notification of publication of corporate communication on the websites Notes: 1. Non-Registered Holder means such person or company whose shares are held in The Central Clearing and Settlement System (CCASS) and who has notified the Company from time to time through Hong Kong Securities Clearing Company Limi ...

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 Dear Shareholder, 1. NOTICE OF PUBLICATION OF 2025 INTERIM REPORT (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 ir.ksyun.com and the website ...