Kingsoft Cloud (KC) Shares Surge Over 24% Following Financing Leasing Agreement

Oct 02, 2024

As of Wednesday, Kingsoft Cloud (KC, Financial) saw its shares rise by more than 24%, trading at $3.968 per share, with a market capitalization exceeding $940 million. This surge follows the company's recent announcement of a financing lease agreement between its affiliated entity, Kingsoft Cloud (Qingyang) Data, and China Cinda's subsidiary, Cinda Financial Leasing.

Under the agreement, Cinda Financial Leasing will provide financing lease services directly to Kingsoft Cloud (Qingyang) Data with a total financing amount not exceeding 300 million RMB. The leased assets include servers and other accessories such as CPUs, hard drives, and data cables.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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