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The decline of the ChiNext Index has expanded to 4%.
November 12th, Geelonghui | Nasdaq Golden Dragon China Index widened to a 4% decline, Tencent Music fell over 8.4%, Kingsoft Cloud dropped over 7.9%, XPeng fell 7.2%, Jinkosolar, XPeng, NIO, TAL Education fell by at least 6.2%, JD.com, Miniso, Kanzhun, EHang, Li Xiang, Zai Lab fell by at least 5.4%.
Kingsoft Cloud's Affiliate to Receive Finance Lease Assistance of 250 Million Yuan
[Hong Kong Stock Connect] Kingsoft Cloud (03896) rises against the market by 5.88%, expanding its investment scale in AI. Morgan Stanley believes this move can significantly alleviate the burden of capital expenditure.
Kingwus Financial News | Kingsoft Cloud (03896) strengthened against the market trend. As of the time of publication, it rose by 5.88% to HKD 2.34, with a turnover of 0.339 billion Hong Kong dollars. On the news front, recently, Kingsoft Cloud announced that in order to accelerate the investment in artificial intelligence infrastructure, on November 11, 2024, Peking Kingsoft Cloud Network Technology Co., Ltd. (a consolidated affiliated entity of the Company, “Kingsoft Cloud Network”) and CITIC Financial Leasing Co., Ltd. entered into a financing lease agreement after fair negotiation. Accordingly, CITIC Financial Leasing agreed to provide financing and leasing services to Kingsoft Cloud Network through the method of post-sale leaseback of certain servers as part of the financing lease principal.
Express News | Morgan Stanley: Sets Kingsoft Cloud target price at HK$32 with a 'shareholding' rating, currently attractive valuation.
Morgan Stanley: Sees a structural narrowing trend in the discount offered by kingsoft (03888.HK) holding company.
Morgan Stanley's research reports pointed out that there is a structural trend of narrowing the discount by Kingsoft (03888.HK) controlling shareholder from the current level of 54%. Morgan Stanley expects that with the promotion of "JX3" and "Justice", the mobile gaming business revenue of Kingsoft is expected to increase by 40% to 50% year-on-year in the second half of this year, with a bias towards upward risks. In addition, the company's subsidiary Kingsoft Cloud (03896.HK) recently announced the signing of a financing lease agreement to provide funds for its AI capital expenditure, thereby reducing the risk of further financial support from the parent company. The bank expects Kingsoft Cloud to repay the shareholder loan of 1.5 billion yuan on time.
Kingsoft Cloud (03896.HK) affiliated entity receives 0.25 billion RMB financing, with an initial annual interest rate of 4.35%.
Kingsoft Cloud (03896.HK) announced that its subsidiary, Beijing Kingsoft Cloud Network Technology, reached a financing leasing agreement with CITIC Financial Leasing through fair negotiations yesterday (11th). CITIC Financial Leasing has agreed to provide financing and leasing services to Kingsoft Cloud Network through the method of sale and leaseback of certain servers. The total principal amount of the financing lease is 0.25 billion RMB, with a duration of 3 years and an initial annual interest rate of 4.35%. Kingsoft Cloud stated that entering into this agreement will help supplement operational funds, expand the company's financing channels, increase the company's sources of liquidity, and optimize the company's capital structure. (JS/W)~
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