KINGSOFT CLOUD (03896) and Xiaomi sign a 2025 Cooperation Framework Agreement.

KINGSOFT CLOUD (03896) announced that on July 29, 2025 (after trading hours), the company entered into a 2025 Xiaomi Cooperation Framework Agreement with Xiaomi. According to the agreement, (1) the company agreed to purchase IDC-related services from Xiaomi for an initial period of three years starting from July 29, 2025, and (2) the company agreed to purchase network hardware equipment from Xiaomi for an initial period of one year starting from July 29, 2025. The announcement stated that as a cloud service provider, the company requires a large amount of IDC resources and network hardware equipment to support its growing business and enhance its cloud service capabilities. Given the long-term business relationship between the two groups and the familiarity of both parties with business and operations, utilizing Xiaomi's existing IDC services and purchasing network hardware equipment from Xiaomi Group will enable the group to fully utilize Xiaomi Group's infrastructure and equipment coverage, combining Xiaomi's advanced services and products with the group's products to promote product innovation and business growth, and deepen cooperation with Xiaomi Group. Additionally, as the terms and conditions for services and products purchased from Xiaomi Group are not inferior to those purchased from other independent third-party service providers, entering into such transactions will allow the group to obtain stable and high-quality sources of IDC services and network hardware equipment and reduce administrative expenses associated with purchasing similar services from multiple providers, thereby further improving overall operational efficiency.