MSKSCLD@EC2606A

BofA Securities: Chinese AI Industry Progress Boosts Data Center Demand

Qingyang Yunjie Instant Link Technology Co., Ltd. Increases Registered Capital to 505.6 Million

Goldman Sachs Upgrades Jinshan Cloud Rating and Revenue Forecast

Penserra and JPMorgan Increased Holdings in 金山云's ADR

Nomura Upgrades Revenue Forecast for 金山云 and Maintains Buy Rating

BNY Mellon reduces stake in Kingsoft Cloud H-shares

Citi Predicts Rapid Adoption of AI Assistants in China Post Spring Festival in 2026

Guotai Junan Securities Maintains Overweight Rating for Jinshan Cloud

China Everbright Securities Reports Expecting Jinshan Cloud Growth, Industry Price War May End

GF Securities Predicts Strong Revenue and AI Business Growth for 金山云 in 4Q25

Kingsoft Cloud's Smart Computing Platform Completes Strategic Upgrade to Meet AI Inference Market Boom

CICC and CLSA analysts maintain buy rating for 金山云

UBS and BofA Securities Maintain Buy Rating on 金山云

Goldman Sachs Maintains Hold Rating on Kingsoft Cloud Holdings

AI Technologies Drive Significant Business Growth for Tech Giants

Kingsoft Cloud Reports 31% Q3 Revenue Growth, Upgrades Cloud and AI Computing Platforms

Kingsoft Cloud released FY2025 9 Months Earnings on November 19 Pre-Market (BJT), actual revenue HKD 7.39 B, actual EPS HKD -0.2162

Kingsoft Cloud released FY2025 Q3 earnings on November 19 Pre-Market (BJT), actual revenue HKD 2.709 B (forecast HKD 2.7 B), actual EPS HKD -0.0012 (forecast HKD -0.083)

Kingsoft Cloud to Release FY2025 Q3 Earnings on November 19 Pre-Market (BJT), Forecast Revenue HKD 2.701 B, EPS HKD -0.0829

Kingsoft Cloud Holdings Increases Issued Shares to Over 4.5 Billion

CCOE

STARCOIN GROUP

ONEFORCE HLDGS

ROYAL DELUXE

STELUX HOLDINGS

TE HEALTHCARE

ASIAPAC FIN INV

WELIFE TECH

DRINDA

TIMELESS

.HXC

03896

The NASDAQ Golden Dragon China Index preliminarily closed down 1.7%, with a cumulative decline of about 5.8% in February. Among popular Chinese concept stocks, Nio fell 4%, Alibaba dropped 2.6%, and New Oriental, Li Auto, JD.com, and others fell over 1%. DAQUAN New Energy rose 0.6%, and Kingsoft Cloud increased by 7%

Wallstreetcn

NASDAQ Golden Dragon China Index

KINGSOFT CLOUD

JD-SW

NIO-SW

Hwabao CSI HK Equities Internet ETF

Kingsoft Cloud

JD.com

E Fund CSI HK Connect Internet ETF

Roundhill China Dragons ETF

Krne Csi China Internet

JD LOGISTICS

Invesco Golden Dragon China

Li Auto

KraneShares 2x Long BABA Daily ETF

Alibaba

688111

03888

Beijing Kingsoft Office Software, Inc. reported earnings results for the full year ended December 31, 2025. For the full year, the company reported sales was CNY 5,928.74 million compared to CNY 5,120.84 million a year ago. Net income was CNY 1,842.98 million compared to CNY 1,645.08 million a year ago.Basic earnings per share from continuing operations was CNY 3.98 compared to CNY 3.56 a year ago.

marketscreener

Kingsoft Office

KINGSOFT

Beijing Kingsoft Office Software, Inc. Reports Earnings Results for the Full Year Ended December 31, 2025

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STECH

00HSI

00902

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The Hang Seng Index closed up 0.95%, and the Hang Seng TECH Index rose 0.56%. JunDa Co., Ltd. had the largest increase, reaching 23.45%; Kingsoft Cloud and Jinli Permanent Magnet rose by 7.69% and 6.7%, respectively. CHINA COAL, Sun Hung Kai Properties, and HPI also saw significant increases. In contrast, Zhaoyi Innovation fell by 7.19%, while MINIMAX and Sanhua Intelligent Control dropped by 2.22% and 2.65%, respectively

CHINA COAL

Hang Seng TECH Index

Hang Seng Index

HUANENG POWER

The Hang Seng Index closed up 0.95%, with varying degrees of rebound in the energy, resources, AI, and innovative pharmaceuticals sectors

KINGSOFT CLOUD rose 10.86%; GDS Holdings Limited rose 1.18%, with a transaction volume reaching HKD 100 million; New Oriental Education & Technology Group rose 10.06%, with a transaction volume reaching HKD 87.59 million; Jiaming Technology rose 1.89%, with a transaction volume reaching HKD 180,000; YunGongChang's market value reached HKD 1.673 billion

HK Stock Movers Tracker

Hong Kong stock movement: KINGSOFT CLOUD rose by 10.86%, with clear capital flow, market sentiment triggered volatility attention

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XPEV

The NASDAQ Golden Dragon China Index preliminarily closed up 1.3%. Among popular Chinese concept stocks, GDS preliminarily closed up 6.7%, Century Internet rose 6.6%, XPeng rose 6.6%, and KINGSOFT CLOUD rose 4.8%

XPENG-W

XPeng

GDS-SW

iShares MSCI China

688303

01179

BIDU

The NASDAQ Golden Dragon China Index preliminarily closed down 0.4%. Among popular Chinese concept stocks, Jinko Solar fell 2.4%, Trip.com fell 2.2%, YUM China, Qifu Technology, and WeRide fell over 1%, Alibaba fell 0.9%, and Baidu fell 0.7%. Meanwhile, GDS, KINGSOFT CLOUD, and Daqo Energy rose at least 0.6%, and HWORLD rose 1.6%

Daqo Energy

HWORLD-S

Baidu

Direxion FTSE China Bull 3X

BABA-W

YUM China

BIDU-SW

Trip.com

Jinko Solar

DTCR

02513

Bank of America Securities released a research report, pointing out that the Chinese AI industry has made significant progress recently, including ByteDance launching a new video generation model and KNOWLEDGE ATLAS's GLM-5 programming scheme price increase. The report believes this will drive demand for data centers, particularly optimistic about GDS Holdings and Kingsoft Cloud. In terms of investment ratings, the target price for Century Internet has been raised to $17.9, GDS Holdings to HKD 55.6, and Kingsoft Cloud's target price is HKD 8.8

AASTOCKS

Global X Data Center & Dgtl Infrs ETF

KNOWLEDGE ATLAS

Bank of America Securities: Price increases reflect strong AI demand, optimistic about GDS Holdings and Kingsoft Cloud

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002371

06181

Daiwa released a report listing its preferred stocks in the Hong Kong and A-share markets, including Tencent, LAOPU GOLD, WEICHAI POWER, CHINA RES LAND, Alibaba-W, KINGSOFT CLOUD, Midea Group A, NAURA, CATL A, Moutai, and Montage Technology

ALI HEALTH

NAURA

CATL

Moutai

TENCENT

LAOPU GOLD

WEICHAI POWER

Midea Group

CHINA RES LAND

Montage Technology

Dai Hang Daiwa lists preferred AH stock selection (table)

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518880

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Daiwa reiterated its optimistic outlook for the Chinese market, expecting a national GDP target of 5% for 2026. If this target is confirmed at the National Two Sessions, stronger economic stimulus measures may be introduced, focusing on fixed asset investment, consumption, and real estate. Although the likelihood of large-scale stimulus policies is low, gradual measures will boost investment sentiment. LAOPU GOLD and KINGSOFT CLOUD have been included in the preferred list, replacing Shenzhou International and Trip.com

SD-GOLD

Huaan Yifu Gold ETF

SHANGSHAN GOLD

Daiwa: Reiterates Optimistic Outlook on Chinese Market, Includes LAOPU GOLD and KINGSOFT CLOUD in Preferred List

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Hong Kong's AI application sector experienced a significant boost in the afternoon trading session. According to Jin10, Zhihusaw a remarkable increase of over 25%. Other notable performers included Kingsoft Cloudand MINIMAX-WP, both rising by more than 10%. Additionally, China Literature, Mobvista, and Minglue Technologyalso followed the upward trend.

CoinLive

MOBVISTA

MININGLAMP-W

CHINA LIT

MINIMAX-WP

ZHIHU-W

Hong Kong AI Application Stocks Surge in Afternoon Trading

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09901

BILI

The NASDAQ Golden Dragon China Index's initial gain expanded to 1.21%. Popular Chinese concept stocks include Nio rising 7.4%, MINISO increasing 5.4%, YUM China up 3.4%, Li Auto up 2.8%, ZTO EXPRESS, Zai Lab, Bilibili, Baidu, and KINGSOFT CLOUD rising over 2%, Alibaba up 0.7%, XPeng down 1.2%, and New Oriental down 2.8%. Among ETFs, KWEB rose 1.14%, CQQQ increased 0.7%, ASHR fell 0.1%, and ASHS decreased 1.3%

ZTO EXPRESS-W

NEW ORIENTAL-S

Bilibili

YUM CHINA

New Oriental EDU & Tech

LI AUTO-W

NIO Inc. USD OV

Amplify Online Retail ETF

Global X China Consumer

Yinhua MSCI China A ETF

Invesco China Tech

Global X E-commerce ETF

The China concept index rose by 1.2%, Nio increased by over 7%, and Li Auto rose by about 3%

IDGT

XDAT

SRVR

CLOU

Penserra Capital Management LLC increased its stake in Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC) by 32.8% in Q3, owning 631,442 shares worth $9.42 million. Other institutional investors also boosted their stakes, with JPMorgan Chase increasing its position by 2,541.3%. Kingsoft Cloud has a market cap of $3.66 billion and a consensus rating of "Moderate Buy" with a price target of $19.65. The stock opened at $12.12, with a 52-week range of $10.29 to $22.26.

Market Beat

ISHRS S&P Glb It

iShares US Digital Infrastructure and Real Estate ETF

Proshares Big Data Refiners ETF

Comm Servcies Select Sector SPDR

Franklin Exponential Data ETF

Pacer Data & Infrastructure Real Estate ETF

Global X Cloud Computing ETF

Kingsoft Cloud Holdings Limited Sponsored ADR $KC Shares Purchased by Penserra Capital Management LLC

XIACY

01810

Nomura released a research report stating that Kingsoft Cloud, as the artificial intelligence cloud infrastructure provider within the Xiaomi Corporation ecosystem, will benefit from Xiaomi's investment in large language models (LLM). It is expected that revenue for the fiscal years 2025 to 2027 will be revised up by 1.4% to 8.9%, but due to intensified competition and cost pressures, the gross margin forecast has been lowered by 4.6 percentage points, and the profit forecast has been reduced by 11.6% to 33.4%. The "Buy" rating is maintained, with the target price lowered from 9.2 yuan to 8.5 yuan, and an annual growth rate of 40% is expected for AI-related business revenue

Xiaomi Corporation

XIAOMI-W

Nomura's report indicates that NVIDIA can benefit from the growth in training and inference demand, maintaining a "Buy" rating

During the bull-bear transition in 2020-2021, the two biggest lessons I personally learned are:1. Don't buy junk stocks, poor businesses, or bad companies during a bull market. In the early stages of a bull market, it's often these companies that surge the most. For example, in the last cycle, companies like $Kingsoft Cloud(KC.US).2. Some companies may seem decent, and it's hard to outright call them bad businesses. In such cases, refer to the second rule: No company is a must-buy. There will always be someone making more money than you, and there will always be stocks outperforming your portfolio. Take today's $SMIC(00981.HK) as an example.

SMIC

MSKSCLD@EC2606A(21145.HK)

Beijing Kingsoft Office Software, Inc. Reports Earnings Results for the Full Year Ended December 31, 2025

The Hang Seng Index closed up 0.95%, with varying degrees of rebound in the energy, resources, AI, and innovative pharmaceuticals sectors

Hong Kong stock movement: KINGSOFT CLOUD rose by 10.86%, with clear capital flow, market sentiment triggered volatility attention

The NASDAQ Golden Dragon China Index preliminarily closed up 1.3%. Among popular Chinese concept stocks, GDS preliminarily closed up 6.7%, Century Internet rose 6.6%, XPeng rose 6.6%, and KINGSOFT CLOUD rose 4.8%