HK Stock Market Move | Sign a financial leasing framework agreement involving up to 3 billion yuan. KINGSOFT CLOUD (03896) and CHINA CINDA (01359) both surged over 5%.

KINGSOFT CLOUD, a subsidiary of KINGSOFT CLOUD (Qingyang) Data (Lessee), has entered into a financing lease framework agreement with CHINA CINDA, a non-wholly-owned subsidiary of Cinda Financial Leasing (Lessor). As of the time of this report, KINGSOFT CLOUD (03896) has risen by 5.47% to 1.35 Hong Kong dollars, while CHINA CINDA (01359) has risen by 4.76% to 0.66 Hong Kong dollars. According to the announcement made by KINGSOFT CLOUD, its affiliated entity KINGSOFT CLOUD (Qingyang) Data has entered into a financing lease framework agreement with CHINA CINDA, a non-wholly-owned subsidiary of Cinda Financial Leasing. Through this agreement, Cinda Financial Leasing will provide financing lease services to KINGSOFT CLOUD (Qingyang) Data through direct financing lease, with a total financing amount not exceeding 300 million RMB. The target assets are servers and other accessories (including CPU, hard disk, and data cables). The Group believes that entering into the financing lease framework agreement will allow it to acquire servers and other accessories at a lower initial cost, further promoting its business operations and development in the cloud services sector, and accelerating its investment in artificial intelligence infrastructure.