Market Movement Update | Kingsoft Cloud surged over 8%, skyrocketing 230% since November! KINGSOFT signed a new framework agreement with Xiaomi.

Kingsoft Cloud rose over 8%, having accumulated a strong increase of 230% since November. On November 19, Kingsoft Cloud announced that KINGSOFT has signed a new framework agreement with Xiaomi, with the annual upper limits suggested in the framework agreement for 2025-2027 being 2.31 billion yuan, 3.138 billion yuan, and 4.035 billion yuan respectively. GF SEC expressed a bullish outlook on the subsequent demand for computing power as Xiaomi deeply integrates AI into its ecosystem.

Zhitong FinanceDec 20 22:55

Investing in Hong Kong, Alibaba has arrived! Alibaba's Entrepreneur Fund has established a 0.15 billion dollar AI Fund.

① Alibaba's Entrepreneur Fund announced the establishment of an AI Fund, amounting to 0.15 billion USD, primarily covering Industries where AI can be deeply applied. ② Almost at the same time, ByteDance founder Zhang Yiming also arrived, and his investment Institutions officially acquired Hong Kong's No. 9 license to start investing in the AI field. ③ This year, Hong Kong ranks eighth among the top ten regions globally in terms of total financing for AI enterprises.

cls.cnDec 20 21:20

Annual review | North funds aggressively bought Hong Kong stocks! Net buying exceeded 770 billion Hong Kong dollars for the year, with Alibaba attracting over 82 billion.

As of December 19, the cumulative transaction of southbound funds through the Hong Kong Stock Connect this year has exceeded 10 trillion, surpassing the entire amount of last year, with an overall increase of nearly 50%.

Futu NewsDec 20 19:24

Express News | Alibaba: On December 19, approximately 39.9918 million US dollars was spent to repurchase 3.7808 million shares.

BreakingsDec 20 18:32

The "Regulations on the Reporting of Tax-related Information by Internet Platform Enterprises" is open to public opinion.

The tax authorities will keep the obtained tax-related information confidential according to the law, establish a data security management system for tax-related information in accordance with relevant regulations, and ensure data security.

Zhitong FinanceDec 20 18:27

Bipartisan senators request a grace period for TikTok: they wrote a letter urging Biden to postpone the ban by 90 days.

Senators Ed Markey and Rand Paul urged Biden to extend the deadline for ByteDance to sell TikTok by 90 days; these two lawmakers stated that the ban legislation might be overturned by the Supreme Court and could affect freedom of speech in the USA, so the deadline should be appropriately postponed; the USA Supreme Court is reviewing the appeal filed by TikTok and will hold a debate in January.

cls.cnDec 20 15:53