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Kingsoft Corp Ltd (3888.HK)

3888.HK on Hong Kong Stock

25.65HKD
5 Jun 2020
Change (% chg)

HK$0.40 (+1.58%)
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Latest Key Developments (Source: Significant Developments)

Kingsoft Announces Revision Of Annual Caps Under Framework Agreement With Xiaomi
Tuesday, 26 May 2020 

May 26 (Reuters) - Kingsoft Corp Ltd <3888.HK>::ANNOUNCES REVISION OF ANNUAL CAPS UNDER FRAMEWORK AGREEMENT BETWEEN COMPANY AND XIAOMI.AFTER REVISION, ANNUAL CAPS FOR FEES PAYABLE BY XIAOMI FOR PROVISION OF ADVERTISING AGENCY SERVICES BY GROUP FOR 3 YEARS WILL BE INCREASED.  Full Article

Kingsoft Posts QTRLY Profit Attributable RMB 6.3 Million
Tuesday, 26 May 2020 

May 26 (Reuters) - Kingsoft Corp Ltd <3888.HK>::KINGSOFT - QTRLY PROFIT ATTRIBUTABLE RMB 6.3 MILLION VERSUS LOSS OF RMB67.8 MILLION.KINGSOFT-QTRLY REVENUE RMB 1.17 BILLION VERSUS RMB887.2 MILLION.  Full Article

Kingsoft Corp Says Resolved To Declare Special Dividend Of HK$0.10135/Share
Friday, 8 May 2020 

May 8 (Reuters) - Kingsoft Corp Ltd <3888.HK>::RESOLVED TO DECLARE A SPECIAL DIVIDEND OF HK$0.10135/SHARE.KINGSOFT CORP LTD SEES GAIN FROM SPIN-OFF OF KINGSOFT CLOUD AT ABOUT RMB10 BILLION.  Full Article

Kingsoft Corp Updates On Proposed Spin-Off And Separate Listing Of Kingsoft Cloud
Monday, 4 May 2020 

May 4 (Reuters) - Kingsoft Corp Ltd <3888.HK>::UPDATES ON PROPOSED SPIN-OFF AND SEPARATE LISTING OF KINGSOFT CLOUD.KINGSOFT CLOUD MADE PUBLIC FILING OF RED HERRING PROSPECTUS TO SEC ON 4 MAY.KINGSOFT CLOUD OFFERING IS EXPECTED TO CONSIST OF AN INITIAL OFFERING OF 25 MILLION ADSS.CO & XIAOMI INDICATED INTEREST IN BUYING UP TO US$25 MILLION & US$50 MILLION, RESPECTIVELY, OF ADSS BEING OFFERED IN KINGSOFT CLOUD OFFERING.CO & XIAOMI INDICATED INTEREST IN PURCHASING UP TO US$25 MILLION & US$50 MILLION, RESPECTIVELY, OF ADS OFFERED IN KINGSOFT CLOUD AT INITIAL OFFER PRICE.INITIAL OFFER PRICE OF EACH ADS EXPECTED TO BE BETWEEN US$16 & US$18.CARMIGNAC GESTION & AFFILIATES INDICATED INTEREST IN BUYING, IN AGGREGATE, UP TO US$50 MILLION OF ADSS OFFERED IN KINGSOFT CLOUD.AT CURRENT PRICE RANGE, ASSUMES MARKET CAPITALISATION OF KINGSOFT CLOUD WILL BE BETWEEN ABOUT US$4.00 BILLION & US$4.50 BILLION.  Full Article

Kingsoft Corp Announces Proposed Issue Of Hk$3.1 Bln 0.625% Convertible Bonds Due 2025
Friday, 24 Apr 2020 

April 24 (Reuters) - Kingsoft Corp Ltd <3888.HK>::KINGSOFT CORP ANNOUNCES PROPOSED ISSUE OF HK$3.1 BILLION 0.625% CONVERTIBLE BONDS DUE 2025.BONDS MAY BE CONVERTED INTO CONVERSION SHARES AT INITIAL CONVERSION PRICE HK$35.7637/SHARE.NET PROCEEDS FROM BONDS SUBSCRIPTION ESTIMATED ABOUT HK$3,033.65 MILLION.  Full Article

Kingsoft Cloud Holdings Limited Files For U.S. IPO Of Up To $100 Mln
Friday, 17 Apr 2020 

April 17 (Reuters) - Kingsoft Cloud Holdings Limited::KINGSOFT CLOUD HOLDINGS LIMITED FILES FOR U.S. IPO OF UP TO $100 MILLION – SEC FILING.KINGSOFT CLOUD HOLDINGS LIMITED SAYS J.P. MORGAN, UBS INVESTMENT BANK, CREDIT SUISSE AND CICC ARE AMONG UNDERWRITERS TO IPO.KINGSOFT CLOUD HOLDINGS LIMITED SAYS INTEND TO APPLY TO LIST ADSS REPRESENTING ORDINARY SHARES ON NASDAQ GLOBAL SELECT MARKET UNDER SYMBOL “KC”.KINGSOFT CLOUD HOLDINGS LIMITED SAYS PROPOSED IPO PRICE IS AN ESTIMATE SOLELY FOR CALCULATING SEC REGISTRATION FEE.KINGSOFT CLOUD HOLDINGS LIMITED SAYS INTENDS TO USE ABOUT 50% OF IPO PROCEEDS TO FURTHER INVEST IN UPGRADING AND EXPANDING INFRASTRUCTURE.KINGSOFT CLOUD HOLDINGS LIMITED SAYS INTENDS TO USE ABOUT 25% OF IPO PROCEEDS TO FURTHER INVEST IN TECHNOLOGY AND PRODUCT DEVELOPMENT.KINGSOFT CLOUD HOLDINGS LIMITED SAYS INTENDS TO USE ABOUT 15% OF IPO PROCEEDS TO FUND EXPANSION OF ECOSYSTEM AND INTERNATIONAL PRESENCE.  Full Article

Kingsoft Corp Posts FY Loss Attributable of RMB1.55 Billion
Tuesday, 24 Mar 2020 

March 24 (Reuters) - Kingsoft Corp Ltd <3888.HK>::FY REVENUE RMB8.22 BILLION (NOT RMB8.22) VERSUS RMB5.91 BILLION.RECOMMENDED PAYMENT OF A FINAL DIVIDEND OF HK$0.10 PER SHARE.COVID-19 OUTBREAK DID NOT POSE ANY SIGNIFICANT IMPACT TO GROUP'S OPERATIONS.FY LOSS ATTRIBUTABLE RMB1.55 BILLION VERSUS PROFIT OF RMB389.2 MILLION.CO IS CONSIDERING A POSSIBLE SPIN-OFF AND SEPARATE LISTING OF KINGSOFT CLOUD HOLDINGS LIMITED.  Full Article

Kingsoft Corp Says Kingsoft Cloud Entered Share Purchase Agreement
Monday, 16 Dec 2019 

Dec 16 (Reuters) - Kingsoft Corp Ltd <3888.HK>::KINGSOFT CLOUD GROUP ENTERED INTO A SHARE PURCHASE AGREEMENT.KINGSOFT CLOUD TO ISSUE 22 MILLION SERIES D+ PREFERRED CONVERTIBLE SHARES WITH PAR VALUE OF US$0.001 PER SHARE.CCBI INVESTOR TO SUBSCRIBE FOR 22 MILLION SERIES D+ PREFERRED SHARES FOR A CONSIDERATION OF US$20 MILLION.  Full Article

Kingsoft Corp Says Co & Xiaomi Enter Framework Agreement
Monday, 2 Dec 2019 

Dec 2 (Reuters) - Kingsoft Corp Ltd <3888.HK>::KINGSOFT CORP-CO & XIAOMI ENTER FRAMEWORK AGREEMENT; GROUP TO PROVIDE VARIOUS COMPREHENSIVE SERVICES TO XIAOMI, INCLUDING CLOUD SERVICES,AMONG OTHERS.  Full Article

Kingsoft Corp Considering Possible Spin-Off And Separate Listing Of Kingsoft Cloud
Thursday, 14 Nov 2019 

Nov 14 (Reuters) - Kingsoft Corp Ltd <3888.HK>::CONSIDERING A POSSIBLE SPIN-OFF AND SEPARATE LISTING OF KINGSOFT CLOUD HOLDINGS LIMITED ON A RECOGNIZED STOCK EXCHANGE.TERMS OF PROPOSED SPIN-OFF AND LISTING HAVE NOT YET BEEN FINALIZED.THERE IS NO ASSURANCE THAT PROPOSED SPIN-OFF AND LISTING WILL TAKE PLACE OR AS TO WHEN IT MAY TAKE PLACE.  Full Article

China's Kingsoft sees stock pop in U.S. market debut

Shares of China's Kingsoft Cloud Holdings Ltd jumped over 25% on its U.S. market debut, indicating strong investor interest at a time when capital markets globally have been roiled by an economic crisis from the COVID-19 pandemic.