Internet Services and Infrastructure

Kingsoft Cloud

金山云于 5 月 27 日盘中 (美东时间) 发布 FY2026 Q1 财报，实际营收 3.91 亿 USD (预期 3.72 亿 USD)，实际 EPS -0.16 USD (预期 -0.11 USD)

Analysts Lower Kingsoft Cloud Price Target to $21.15, Buy Consensus Remains

Guotai Junan Maintains 'Buy' Rating on Kingsoft Cloud with Target Price of HKD 13.00

Haitong International Initiates Coverage on Kingsoft Cloud with Outperform Rating, Target Price $25, Predicts AI to Drive Profitability Turnaround

Kingsoft Cloud to release FY2026 Q1 earnings on May 27 During-Market EST, forecast revenue USD 376.21 M, EPS USD -0.1161

Kingsoft Cloud Announces June 2, 2026 as Record Date for Annual General Meeting

Qingyang Yunjie Sunlian Technology Registered Capital Increases to Approx 890 Million RMB

Kingsoft Cloud Raises Annual Limit on Related Party Transactions with Xiaomi

Kingsoft Cloud Releases 2025 Annual Report and ESG Report

GF Securities Maintains Buy Rating on Kingsoft Cloud Holdings Limited

AI Demand Growth Helps Cloud Vendors Reverse Losses

Jefferies Analyst Reiterates Buy Rating on 金山云

CICC Maintains Buy Rating on 金山云 with Target Price of HKD 10.40

Citi Raises Revenue Forecast for 金山云 to Breakeven in 2026

CLSA Raises Revenue Forecast and Target Price for 金山云

Kingsoft Cloud released FY2025 Annual Earnings on March 25 Pre-Market EST, actual revenue USD 1.34 B (forecast USD 1.356 B), actual EPS USD -0.4792 (forecast USD -0.5742)

Kingsoft Cloud released FY2025 Q4 earnings on March 25 Pre-Market (EST), actual revenue USD 394.71 M (forecast USD 391.34 M), actual EPS USD -0.0857 (forecast USD -0.1213)

Kingsoft Cloud Reports Q4 2025 Earnings: Smart Cloud Revenue Up 95%, Ecological Cooperation Continues to Deepen

Kingsoft Cloud Announces FY2025 Loss Narrows to RMB 936 Million

Kingsoft Cloud Reports Q4 Revenue of 2.76 Billion RMB

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Kingsoft Cloud Holdings Limited (KC.US, 03896.HK) Q1 2026 Earnings Conference Call

Kingsoft Cloud Holdings Limited (KC.US, 03896.HK) Q4 2025 Earnings Conference Call

Kingsoft Cloud Holdings Limited (KC.US, 03896.HK) Q3 2025 Earnings Conference Call

Kingsoft Cloud Holdings Limited (KC.US) Q2 2025 Earnings Conference Call

Kingsoft Cloud Holdings Limited (KC.US) Q1 2025 Earnings Conference Call

Kingsoft Cloud Holdings Limited (KC.US) Fourth Quarter and Full Year 2024 Earnings Conference Call

Kingsoft Cloud Holdings Limited (KC.US) Q3 2024 Earnings Conference Call

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VNET

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Goldman Sachs forecasts China's daily AI token usage will reach 350 trillion by year-end, driving cloud revenue growth. The firm identifies the cloud and data center subsector as its most favored area for H2 2026, recommending Alibaba, GDS Holdings, VNET Group, and Kingsoft Cloud. It anticipates $100 billion in total capex from major tech firms in 2026, supporting accelerated data center growth. Gaming and entertainment are prioritized second, while e-commerce is downgraded to third.

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G Sachs: Cloud and Data Center Subsector Still Most Favored for 2H; Recommends Alibaba Group Holding Limited , GDS Holdings Limited , VNET Group, Inc. , Kingsoft Cloud Holdings Limited

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TROO

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ACMR

Jianzhi Edu Tech(JZ) rose 325.82%, with a trading turnover 82.2 Million USD, and a year-to-date rose 201%. SunCar Tech(SDA) rose 20.71%, with a trading turnover 1.5 Million USD, and a year-to-date fell 51.2%. Troops(TROO) fell 9.62%, with a trading turnover 1.2 Million USD, and a year-to-date rose 17.5%. Zepp Health(ZEPP) fell 8.7%, with a trading turnover 2.8 Million USD, and a year-to-date fell 72.3%.

- The Nasdaq Composite rose 0.42%, with a year-to-date increase of 16.5%; the S&P 500 climbed 0.26%, up 11% year-to-date; and the Dow Jones gained 0.09%, up 6.3% year-to-date.  
- JZ surged 325.82% with a trading volume of $82.18 million, reflecting a 201% increase this year.  
- In contrast, SDA rose 20.71% but is down 51.2% year-to-date, while TROO fell 9.62% despite a 17.5% increase this year, and ZEPP dropped 8.7%, with a year-to-date decline of 72.3%.

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Citi Sticks to Their Buy Rating for Kingsoft Cloud Holdings Ltd (3896)

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Citi Sticks to Their Buy Rating for Kingsoft Cloud Holdings Ltd (3896)

UBS has raised its target price for Kingsoft Cloud Holdings Limitedfrom USD18.5 to USD19, maintaining a Buy rating. The company reported first-quarter revenue of RMB2.704 billion, surpassing forecasts, but recorded a wider non-GAAP operating loss of RMB60 million. UBS expects strong revenue growth in Q2, projecting a YoY increase of 27%. The full-year capital expenditure forecast has been raised to RMB15-20 billion to support expansion.

UBS Group AG

UBS Raises Kingsoft Cloud Holdings Limited  TP to USD19, Maintains Buy

KINGSOFT CLOUDshares fell nearly 7% after Nomura reported a decline in 1Q gross margin to 12.8%, citing higher server costs and expansion expenses. Despite a 37% YoY revenue increase to RMB2.7 billion, the company recorded a non-GAAP net loss of RMB237.1 million. BofAS and Jefferies expect a recovery in gross margin in 2Q, with revenue forecasts raised due to strong AI demand. BofAS increased its target price from HKD10.8 to HKD10.9, while Jefferies maintained a USD19 target for US shares.

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Xiaomi Corporation

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Xiaomi HK SDR 2to1

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

KINGSOFT CLOUD  Slumps Nearly 7% as Nomura Flags 1Q Gross Margin Decline as Warning Sign; BofAS and Jefferies See 2Q Recovery

KINGSOFT CLOUDreported a 1Q26 non-GAAP EBITDA of RMB750M, up 1.3x YoY. Total revenue reached RMB2.704B, a 37.2% YoY increase but down 2.1% QoQ. The net loss widened to RMB344M. The growth was driven by revenue from XIAOMI-W and AI-related customers, despite a QoQ decline due to seasonal factors.

KINGSOFT CLOUD 1Q Non-GAAP EBITDA Up 1.3x YoY to RMB750M

Kingsoft Cloud Holdings Limited's 12-month stock price target has been reduced from $21.6 to $21.15, suggesting a potential upside of 62% based on the May 26 closing price. The consensus rating remains a 'Buy' from 13 analysts, with no Holds or Sells reported.

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Factset Research

Kingsoft Cloud Holdings Limited Stock 12‑Month Price Target Cut to $21.15, Implies 62% Upside

Kingsoft Cloud(KC.US)

G Sachs: Cloud and Data Center Subsector Still Most Favored for 2H; Recommends Alibaba Group Holding Limited , GDS Holdings Limited , VNET Group, Inc. , Kingsoft Cloud Holdings Limited

Top 5 CDRs Gainers/Losers (>100M) (6.1)

Citi Sticks to Their Buy Rating for Kingsoft Cloud Holdings Ltd (3896)

UBS Raises Kingsoft Cloud Holdings Limited TP to USD19, Maintains Buy

KINGSOFT CLOUD Slumps Nearly 7% as Nomura Flags 1Q Gross Margin Decline as Warning Sign; BofAS and Jefferies See 2Q Recovery

KINGSOFT CLOUD 1Q Non-GAAP EBITDA Up 1.3x YoY to RMB750M

Kingsoft Cloud Holdings Limited Stock 12‑Month Price Target Cut to $21.15, Implies 62% Upside