Kingsoft Cloud Affiliate Secures 300 Million Yuan Loan for AI Infrastructure, Cloud Business

MT Newswires Live09-24

Kingsoft Cloud's (HKG:3896) consolidated affiliated entity Kingsoft Cloud QY Data agreed to avail up to 300 million yuan from Cinda Financial Leasing under a direct finance leasing deal, a Tuesday filing with the Hong Kong Exchange said.

The group plans to use the financing to support the development of its AI infrastructure and business operations in cloud services.

The parties will separately decide on the interest rates for individual agreements while the payment under the individual finance lease agreements will be settled in equal quarterly installments.

The finance lease expires on July 12, 2025, the filing said.

The cloud services provider's shares closed nearly 8% higher on Tuesday.

Price (HKD): $1.28, Change: $+0.090, Percent Change: +7.56%

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.

Comments

We need your insight to fill this gap
Leave a comment