Kingsoft Cloud's Kingsoft Cloud (Qingyang) Data (Lessee) and China Cinda's non-wholly-owned subsidiary Wintrust Financial Leasing (Lessor) entered into a financial leasing framework agreement. As of the time of publication, Kingsoft Cloud (03896) rose by 5.47%, closing at 1.35 Hong Kong dollars; China Cinda (01359) rose by 4.76%, closing at 0.66 Hong Kong dollars.
According to the Zhitong Finance APP, Kingsoft Cloud's Kingsoft Cloud (Qingyang) Data (Lessee) and China Cinda's non-wholly-owned subsidiary Wintrust Financial Leasing (Lessor) entered into a financial leasing framework agreement. As of the time of publication, Kingsoft Cloud (03896) rose by 5.47%, closing at 1.35 Hong Kong dollars; China Cinda (01359) rose by 4.76%, closing at 0.66 Hong Kong dollars.
On the news front, Kingsoft Cloud announced that its consolidated affiliated entity, Kingsoft Cloud (Qingyang) Data, entered into a financial leasing framework agreement with China Cinda's non-wholly-owned subsidiary Wintrust Financial Leasing. Accordingly, Wintrust Financial Leasing will provide financial leasing services to Kingsoft Cloud (Qingyang) Data through direct financial leasing, with a total financing amount not exceeding 0.3 billion yuan. The target assets are servers and other accessories (including CPU, hard drive, and data cables).
The Group believes that entering into a financial leasing framework agreement will enable it to obtain servers and other accessories at a lower initial cost, further promoting its business operations and development in the cloud computing service sector, and accelerating investments in AI infrastructure.