Movement Alert｜Kingsoft Rises 5.75% in Regular Trading, Subsidiary AI Business Surges 90% Amid Oversold Rebound

Market Focus06-01 09:54

On June 1, Kingsoft rose 5.75% in regular trading, trading at HKD 22.58/share, with trading volume of HKD 221 million.

On the news front, subsidiary Kingsoft Cloud released Q1 earnings on May 27 showing total revenue of RMB 2.704 billion, up 37.2% year-over-year, with AI business gross revenue surging 90% to account for half of public cloud service revenue for the first time. Meanwhile, Kingsoft Software reported Q1 office software and services revenue of RMB 1.613 billion, up 24% year-over-year, driven by WPS AI monthly active user growth and improved paid conversion rates. Group net profit jumped 284% to RMB 1.091 billion.

Additionally, the Hang Seng Tech Index rebalancing will take effect on June 8. Following the release of prior passive selling pressure from the index removal, AI business high-growth expectations are supporting market sentiment recovery. The company also announced the appointment of Zhao Yu as new CFO effective June 1, filling a position vacant for four years.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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