KINGSOFT CLOUD(KC.US, 03896.HK) issues an additional 18,500,000 shares of ADS to boost research and development, exploring the gold mine of the AI trillion-dollar track.

Today, KINGSOFT CLOUD (KC.US, 03896.HK) announced the public offering of 18,500,000 American Depositary Shares (ADS), with each ADS representing 15 ordinary shares of the company. At the same time, KINGSOFT CLOUD granted the underwriters of the ADS the option to purchase additional American Depositary Shares within 30 days. In order to facilitate investors from both Hong Kong and the US to subscribe, investors can choose to trade ordinary shares instead of ADS on the Hong Kong Stock Exchange in this offering. This financing has received support from strategic shareholders. In addition to the aforementioned number of shares issued, KINGOSFT Group will subscribe for an additional 20% of the total issue size (public offering portion + KINGOSFT Group subscription portion). This not only demonstrates the support of the ecosystem enterprise for the company's business development, but also reflects the shareholders' confidence in the long-term development of KINGSOFT CLOUD. This financing will enhance KINGSOFT CLOUD's financial strength, improve its capital structure, and help the company better seize growth opportunities. According to the announcement, the proceeds from this ADS offering are planned to be used for investment in upgrading and expanding infrastructure, investment in technology and product development, and general corporate and operating capital purposes. After this transaction, KINGSOFT CLOUD will continue to focus on high-quality business growth, continuously creating value for existing and new shareholders.