Gelonghui, November 21st | Bank of America Securities issued research reports stating that Kingsoft Cloud's third quarter revenue increased by 16% year-on-year to 1.89 billion yuan, slightly higher than the market's general expectation of about 1%, mainly driven by ai revenue increasing by 7.9 times year-on-year, and the steady recovery of enterprise cloud business accelerated by project delivery. The gross margin during the period also increased by 4 percentage points year-on-year. Bank of America stated that looking forward to the increase in AI business revenue, adjustments to the enterprise cloud project portfolio, and gradual effectiveness of cost control measures, predicting that the gross margin in the fourth quarter will further improve year-on-year. Due to the rapid expansion of the AI business, Bank of America has raised the revenue forecast for Kingsoft Cloud from 2024 to 2026 by 4% to 8%, raising the target price from 1.7 Hong Kong dollars to 3.4 Hong Kong dollars, reaffirming a "neutral" rating.