HK Stock Market Move | KINGSOFT CLOUD (03896) rose more than 5% against the market trend, Xiaomi is expected to launch more AI products, and the company is the exclusive strategic cloud platform for Xiaomi Kingsoft.

KINGSOFT CLOUD (03896) rose more than 5% against the market, rising by 2.58% to HK$6.35 as of press time with a trading volume of HK$2.49 billion. Goldman Sachs' latest research report stated that Xiaomi is actively exploring large-scale language models at the edge and in the cloud to meet the diverse needs for flexibility and convenience in different scenarios. The bank expects Xiaomi to announce more AI achievements in the coming quarters, which will be applied to Xiaomi's ecosystem and its globally largest AIoT connected devices, driving differentiated development and supporting the upgrade strategy of Xiaomi's ecosystem. Public information shows that KINGSOFT CLOUD, as Xiaomi's exclusive strategic cloud platform within the Kingsoft ecosystem, is expected to benefit significantly from the surge in computing power demand within the ecosystem. EB SECURITIES pointed out that in the first three quarters, KINGSOFT CLOUD's revenue from Xiaomi and Kingsoft's ecosystem totaled 1.82 billion yuan, continuing to provide high-quality services to ecosystem enterprises and solidifying the company's rapid response capabilities to smart computing demands. The bank expects the company to achieve the target of 2.78 billion yuan in related transactions for the full year 2025.