CIKSCLD@EC2610A

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

KO YO GROUP

SANERGY GROUP

CHINA INFO TECH

AGTECH HOLDINGS

GEOTECH HLDGS

UNI PRINTSHOP

MODERN LAND

HUSCOKE HLDGS

PUTIAN COMM

WAI HUNG GROUP

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BIDU

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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%

Wallstreetcn

Daqo Energy

HWORLD-S

Baidu

Direxion FTSE China Bull 3X

NASDAQ Golden Dragon China Index

Roundhill China Dragons ETF

KINGSOFT CLOUD

BABA-W

KraneShares 2x Long BABA Daily ETF

YUM China

BIDU-SW

Trip.com

GDS-SW

Jinko Solar

Invesco Golden Dragon China

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

Kingsoft Cloud

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

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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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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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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

NIO-SW

LI AUTO-W

NIO Inc. USD OV

Amplify Online Retail ETF

Global X China Consumer

Yinhua MSCI China A ETF

Krne Csi China Internet

iShares MSCI China

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

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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

ASHS

Chinese concept stocks performed poorly overall, with the NASDAQ Golden Dragon China Index falling by 1.14%. KINGSOFT CLOUD had the largest decline, reaching 6.4%. Other popular Chinese concept stocks such as GDS-SW, Century Internet, and CSI Solar also experienced significant declines, all exceeding 4%. In terms of ETFs, FXI, ASHS, and KWEB all saw varying degrees of decline

Xtrk Hrvt Csi 500 Chn A S-Cp

CSI Solar

iShares China Large Cap

The China concept index fell over 1%, and KINGSOFT CLOUD dropped over 6%

OpenAI

MSFU

MSFX

MSFL

Microsoft is set to report its fiscal Q2 results, with analysts expecting adjusted earnings per share of $3.97 and revenue of $80.27 billion, indicating a 15% year-over-year growth. Attention will be on Azure's growth, projected at around 39.4%, following a 40% increase in Q1. Microsoft plans to raise prices for Office subscriptions and has committed $250 billion to Azure with OpenAI. The company anticipates $34.31 billion in capital expenditures, a 52% increase. Microsoft stock has declined 10% in the past three months, contrasting with a 1% gain in the S&P 500.

- Microsoft is scheduled to report its fiscal second-quarter results, with analysts expecting adjusted earnings per share of $3.97 and revenue of $80.27 billion, indicating a 15% year-over-year growth.  
- Investors are particularly focused on growth from Microsoft's Azure cloud services, which analysts project will grow approximately 39% this quarter, following previous acceleration.  
- Despite these projections, Microsoft’s stock has declined by 10% over the last three months, contrasting with a 1% gain in the S&P 500 index.

CNBC

Direxion Daily MSFT Bull 2X Shares

SPDR S&P Software

Microsoft

iShares Expanded Tech Software Sector ETF

T-Rex 2X Long Microsoft Daily Target ETF

YieldMax MSFT Option Income Strategy ETF

GraniteShares 2x Long MSFT Daily ETF

Direxion Daily MSFT Bear 1x Shares

Kurv Yield Premium Strategy Microsoft MSFT ETF

Microsoft earnings: Cloud growth and capex numbers in focus for Q2

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MINIMAX-WP(00100) rose 26.48%, with a trading turnover 1.6 Billion HKD, and a year-to-date rose 195.9%. CHINA STAR ENT(00326) rose 12.02%, with a trading turnover 35.9 Million HKD, and a year-to-date rose 67.8%. ZIJIN GOLD INTL(02259) rose 11.59%, with a trading turnover 3.1 Billion HKD, and a year-to-date rose 59.6%.

Top Gainers & Losers

CHINA STAR ENT

ZIJIN GOLD INTL

VIGONVITA-B

GUOXIA TECH

CHINA QINFA

ADICON HOLDINGS

HUABAO INTL

BWI INT'L

Top 10 HK Stock Gainers (1.27)

00HSI

STECH

The Hang Seng TECH Index rose by 0.5%. AIGC concept stocks led the gains, with KINGSOFT CLOUD up about 10% and KNOWLEDGE ATLAS up about 8%. Technology stocks rose, with GDS up about 7% and Bilibili up about 6%

Hang Seng Index

Hang Seng TECH Index

The Hang Seng Index closed up 1.35%, Minimax rose about 26%

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Hong Kong stocks market overview in the past hour: Market sentiment seems to have warmed up recently, especially with small-cap stocks and technology stocks showing active performance and noticeable capital inflow. ZONQING LTD's strong rise has led the market's enthusiasm, attracting attention from many short-term funds. Meanwhile, FUTURE MACH LTD and UNI HEALTH have also demonstrated strong upward momentum, indicating investors' preference for emerging industries. Overall, the market pace is relatively fast, with increased volatility and a significant rise in short-term enthusiasm. 

In the past hour, the stock with the largest abnormal movement, ZONQING LTD, surged 28.68%, becoming the market's focus, as rapid capital inflow drove the stock price to climb sharply, creating a high short-term sentiment and attracting a large amount of follow-up buying. 

Strong stocks: 
1. FUTURE MACH LTD: Up 23.81%, with recent market attention on its technological innovations and significant capital inflow. 
2. UNI HEALTH: Up 15.98%, as the health industry heats up, the market is full of expectations for its future development prospects. 
3. KINGSOFT CLOUD: Up 10.76%, with continued efforts in the cloud computing field attracting many investors' attention. 
4. ZIJIN GOLD INTL: Up 10.44%, as gold prices recover, related stocks have risen, and market sentiment is optimistic. 

Stocks under pressure: 
1. SHENG YUAN HLDG: Down 15.29%, lacking positive news recently, market sentiment has weakened, leading to pressure on the stock price

HK Stock Movers Tracker

ZONQING LTD

FUTURE MACH LTD

UNI HEALTH

SHENG YUAN HLDG

Hong Kong Stock Movement Update: ZONQING LTD surges 28.68%, FUTURE MACH LTD rises 23.81%, SHENG YUAN HLDG falls 15.29%

KINGSOFT CLOUD rose 10.76%; GDS Holdings Limited rose 6.70%, with a transaction volume of HKD 340 million; New Oriental Education & Technology Group rose 2.41%, with a transaction volume of HKD 184 million; JiaMi Technology fell 3.64%, with a transaction volume of HKD 2.03 million; Cloud Factory fell 0.89%, with a market value of HKD 1.606 billion

Hong Kong Stock Movement: KINGSOFT CLOUD rises 10.76%, driven by strong growth in AI business and strategic upgrades boosting stock price surge

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

CIKSCLD@EC2610A(23735.HK)

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

Dai Hang Daiwa lists preferred AH stock selection (table)

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

Hong Kong AI Application Stocks Surge in Afternoon Trading