According to the news from Zhitong Finance APP, Kingsoft Cloud (03896) has risen by more than 4%, as of press time, up 3.7% to HKD 1.4, with a turnover of HKD 11.0025 million.

Everbright Securities pointed out that as the only strategic cloud platform in the Xiaomi & Kingsoft ecosystem, Kingsoft Cloud is expected to continue to benefit from the high-performance computing demand brought by the delivery of SU7 and the commercialization of WPSAI. Kingsoft Cloud actively seizes the opportunity of AI development, on the one hand, further enhances the infrastructure investment, laying the foundation for the large-scale cluster deployment required for future AI training; on the other hand, the company establishes a wholly-owned subsidiary, "Beijing Kingsoft Intelligent Technology Co., Ltd.", seizing the opportunity of enterprise intelligent digital transformation and AI professional services.

In addition, Kingsoft Cloud achieved positive EBITDA for the first time since its establishment in 1Q24 after adjustment. The bank believes that the improvement of revenue structure and the control of upstream costs are expected to bring continuous growth in profitability. It is expected that the company's gross margin will steadily increase to 17% in 2024, and the adjusted EBITDA rate is expected to reach 4%.