Kingsoft Cloud Unit Signs Finance Lease Deal with China Merchants

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Kingsoft Cloud Unit Signs Finance Lease Deal with China Merchants

MT Newswires Live09-03

Kingsoft Cloud Holdings (HKG:3896) affiliate Kingsoft Cloud QY Datan entered into a finance lease agreement with China Merchants Financial Leasing, according to a Monday filing with the Hong Kong Exchange.

Under the contract, China Merchants will purchase servers and ancillary facilities such as hard disks, network cards, and other peripherals from suppliers selected by Kingsoft Cloud QY Datan for not more than 600 million yuan, the filing said.

China Merchants Financial Leasing will then rent out the equipment to Kingsoft Cloud QY Datan for a maximum aggregate amount of 945 million yuan until the lease expires on Jan. 5, 2025.

Shares closed 2% lower during Tuesday trading.

Price (HKD): $1.21, Change: $-0.020, Percent Change: -1.63%

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