Kingsoft Cloud Holdings Ltd Stock Price, News & Analysis

Kingsoft Cloud Holdings Limited (NASDAQ: KC) announced an Extraordinary General Meeting (EGM) scheduled for December 17, 2021, at 10:00 a.m. Beijing Time. The EGM aims to discuss and vote on resolutions detailed in the notice provided in the Current Report on Form 6-K submitted to the SEC. Proxy forms and meeting details are also accessible on the Company’s website. The announcement includes standard forward-looking statements highlighting potential risks that may affect the Company's business and operations.

Kingsoft Cloud reported strong financial results for Q2 2021, with total revenues of RMB 2,173.7 million (US$ 336.7 million), up 41.6% year-over-year. Public cloud revenues reached RMB 1,550.8 million (US$ 240.2 million), growing for six consecutive quarters. Enterprise cloud revenues surged 152.8% to RMB 622.1 million (US$ 96.4 million). Gross profit rose 46.8% to RMB 118.5 million (US$ 18.4 million), while net loss improved by 47.5% to RMB 220.6 million (US$ 34.2 million). For Q3 2021, the company anticipates revenues between RMB 2.58 billion and RMB 2.7 billion, reflecting a 49%-56% year-over-year growth.

Kingsoft Cloud Holdings Limited (NASDAQ: KC) announced it will release its unaudited financial results for Q2 2021 on August 25, 2021, before U.S. markets open. An earnings conference call is scheduled for the same day at 8:00 am ET. Due to COVID-19, participants must preregister for the call online to receive dial-in details. A replay will be available until September 2, 2021. Kingsoft Cloud is a leading independent cloud service provider in China, offering comprehensive cloud platforms and industry-specific solutions.

Kingsoft Cloud Holdings Limited (NASDAQ: KC) announced a strategic acquisition of Camelot Employee Scheme Inc., aiming to enhance its Enterprise Cloud Services (ECS) business. The deal will integrate Camelot’s resources across major Chinese cities, expected to improve project efficiency and reduce costs. Camelot's management, boasting significant industry experience, will join Kingsoft, bringing valuable client relationships. Camelot's 2020 revenue recurring ratio stood at 94%, with a backlog of approximately RMB3.8 billion. The transaction is anticipated to close by the end of 2021, pending regulatory approvals.

Kingsoft Cloud Holdings Limited (NASDAQ: KC) reported its Q1 2021 financial results, achieving total revenues of RMB1,813.5 million (US$1276.8 million), a 30.3% increase from RMB1,391.0 million in Q1 2020. Revenues from public cloud services grew to RMB1,391.8 million (US$212.4 million), marking a fifth consecutive quarter of growth. Enterprise cloud services surged by 131.3% year-over-year to RMB420.0 million (US$64.1 million). Despite a gross profit increase of 64.5% to RMB116.5 million, the company reported a net loss of RMB382.2 million (US$58.3 million). For Q2 2021, Kingsoft Cloud expects revenues between RMB2.13 billion and RMB2.23 billion.

Kingsoft Cloud (NASDAQ: KC) announced it will release its unaudited financial results for Q1 2021 on May 18, 2021, before U.S. markets open. An earnings conference call is scheduled for the same day at 8:00 AM ET. Due to COVID-19, participants must preregister online to obtain dial-in details. The call can also be accessed via a live and archived webcast on the company's investor relations website. Kingsoft Cloud is a leading independent cloud service provider in China, known for its extensive cloud infrastructure and industry-specific solutions.

Kingsoft Cloud Holdings Limited (NASDAQ: KC) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on April 22, 2021. Shareholders and ADS holders can request a hard copy of the report containing audited consolidated financial statements at no cost. Kingsoft Cloud, a leading independent cloud service provider in China, boasts a comprehensive cloud platform that includes extensive infrastructure and industry-specific solutions.

Kingsoft Cloud Holdings Limited (NASDAQ: KC) has released its inaugural Environmental, Social and Governance (ESG) Report within a year of its IPO in May 2020, showcasing its commitment to ESG values. The report aligns with Nasdaq's and Hong Kong Stock Exchange's ESG guidelines, highlighting the company's strengths and sustainable development opportunities across various areas, including data security, low-carbon operations, and business ethics. The company pledges to continue its efforts in societal development and environmental protection through innovative products and reduced carbon footprint.

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a three-year framework agreement with Kingsoft Cloud (NASDAQ: KC) effective August 14, 2020. This partnership aims to enhance Blue Hat's Internet Data Center (IDC) business, which serves as a secure hosting infrastructure for enterprises. The agreement follows Blue Hat's acquisition of Xunpusen Technology, leveraging its mobile marketing expertise. CEO Xiaodong Chen expressed optimism about future growth and expanding their customer base in mobile and gaming sectors.