Kingsoft Cloud (KC) Surges Over 9% in Hong Kong, Continues Upward Trend

Oct 29, 2024

Kingsoft Cloud Holdings (KC, Financial) experienced a significant surge, with its stock in Hong Kong rising over 9%. This momentum continued in the U.S. pre-market, where the stock increased by an additional 5.65%, reaching $2.99.

The boost follows the release of the "2024 China Central State-Owned Enterprises Cloud Market Research Report" by CCID Consulting, which recognized Kingsoft Cloud as a leader in the sector. The company has built a robust client base in the central state-owned enterprise cloud market through years of dedicated efforts.

Looking forward, the application of big data and artificial intelligence technologies is expected to deepen and expand the use of cloud services by central state-owned enterprises in China. This trend is projected to sustain rapid growth in the Chinese cloud market over the next three years.

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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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