Kingsoft (SEHK:3888) Valuation Check As Xiaomi Partnership Is Renewed And Expanded

Simply Wall St.01-09

Kingsoft (SEHK:3888) has renewed and expanded its cooperation framework with Xiaomi and signed a new six year lease with Xiaomi affiliate Beijing Duokan, setting out detailed terms for connected ...

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This suggests that near term momentum is picking up while...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1531":"手游股","03888":"金山软件","BK1607":"新IT概念","BK1589":"北水核心资产","BK1518":"SaaS概念","BK1613":"DeepSeek概念股","BK1526":"科网股","BK1517":"云办公","BK1586":"云计算","BK1104":"互动家庭娱乐"},"translate_title":"随着小米合作伙伴关系的更新和扩大，金山软件（SEHK：3888）的估值检查","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03888":0.9},"content_text":"Kingsoft (SEHK:3888) has renewed and expanded its cooperation framework with Xiaomi and signed a new six year lease with Xiaomi affiliate Beijing Duokan, setting out detailed terms for connected transactions and ongoing operations. See our latest analysis for Kingsoft. These renewed Xiaomi agreements land after a mixed period for investors, with a 7 day share price return of 5.98% and a 1 year total shareholder return decline of 6.12%. This suggests that near term momentum is picking up while longer term performance remains weak. If this kind of partner driven story interests you, it may be a useful time to scan other tech names and see what stands out in high growth tech and AI stocks. Kingsoft trades at HK$30.14, alongside an indicated intrinsic value gap and a discount to published price targets. This raises a key question for investors: is this a genuine mispricing, or is potential future growth already reflected in the current price? AdvertisementMost Popular Narrative: 26.3% Undervalued The most followed narrative sees Kingsoft’s fair value at HK$40.87 per share versus the HK$30.14 last close, framing the stock as meaningfully mispriced and heavily tied to its office software growth story. The ongoing shift to remote and hybrid work models is driving higher adoption and deeper integration of Kingsoft's AI-enhanced office products (such as WPS AI 3.0 and WPS Lingxi), which is expected to increase user stickiness, ARPU, and recurring subscription revenue. Read the complete narrative. Curious what kind of revenue path, margin lift, and future P/E multiple are incorporated into that HK$40.87 figure, and how much earnings power those assumptions require? The full narrative lays out a detailed earnings bridge, including projected profitability, share count changes and the exact discount rate used to bring those future cash flows back to today. Result: Fair Value of $40.87 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this upside case still leans on a recovery in the gaming business and improved cash conversion, and either could disappoint if current pressures persist. Find out about the key risks to this Kingsoft narrative. Another View: Earnings Multiple Sends a Very Different Signal Our DCF fair value of HK$83.28 paints Kingsoft as deeply undervalued, yet the current P/E of 25x tells a more cautious story. It sits well above the Hong Kong Entertainment industry at 13.7x, the peer average at 10.7x, and even the 16.7x fair ratio that our model suggests the market could move towards. That gap points to meaningful valuation risk if sentiment cools, so the real question is whether you think Kingsoft’s future earnings story is strong enough to keep that premium intact. See what the numbers say about this price — find out in our valuation breakdown. SEHK:3888 P/E Ratio as at Jan 2026 Build Your Own Kingsoft Narrative If you see the numbers differently or prefer to test your own assumptions, you can build a personalised Kingsoft story in minutes with Do it your way. A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Kingsoft. Looking for more investment ideas? If Kingsoft has you thinking about where to deploy your next dollar, it is worth scanning a wider set of opportunities before you make your next move.  Spot potential value setups by running your filters across these 879 undervalued stocks based on cash flows that combine attractive pricing with solid fundamentals. Lean into long term themes by checking out these 29 healthcare AI stocks at the crossroads of medicine, data and automation. Add a higher risk, higher volatility sleeve by reviewing these 79 cryptocurrency and blockchain stocks that link listed companies to digital assets and blockchain infrastructure.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.Valuation is complex, but we're here to simplify it.Discover if Kingsoft might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. 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