On June 11, Kingsoft Cloud fell 5.11% in regular trading, trading at HKD 5.59/share, with trading volume of HKD 189 million, extending its recent downtrend.
On the news front, the company's Q1 earnings report revealed a widening net loss of RMB 344 million, representing an 8.7% year-over-year increase in losses. Adjusted gross margin dropped sharply from 17.1% in the prior quarter to 13.0%, primarily driven by a 116.4% year-over-year surge in depreciation costs associated with the expansion of its AI-powered cloud computing business. The aggressive capital expenditure on intelligent computing infrastructure has significantly pressured short-term profitability.
Additionally, the Internet Services and Infrastructure sector saw broad-based weakness, with GDS-SW down 8.14%, Sunevision down 3.01%, and Cloud Factory down 2.99%, creating sector-wide drag that amplified selling pressure on individual names including Kingsoft Cloud.
(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.)
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