KINGSOFT CLOUD (03896): KINGSOFT CLOUD (Qingyang) has entered into a framework agreement with Xinda Financial Leasing for financing leasing of servers and other accessories.

KINGSOFT CLOUD (03896) announced that in order to accelerate investment in artificial intelligence infrastructure, on September 24, 2024, KINGSOFT CLOUD (Qingyang) Data (Lessee) entered into a financing lease framework agreement with Xinda Financial Leasing (Lessor). The Lessor agreed to provide financing lease services to the Lessee through direct financing lease during the term of the financing lease framework agreement, with a total financing amount not exceeding RMB 300 million. The target assets are servers and other accessories (including CPUs, hard drives, and data cables) to be purchased and leased according to the financing lease framework agreement. Entering into the financing lease framework agreement will enable the group to acquire servers and other accessories at a lower initial cost, further promoting its business operations and development in the cloud services field, and accelerating investment in artificial intelligence infrastructure.