The SEC has issued additional comments on Kingsoft Cloud's Form 20-F annual report for FY2023, following the company's December 5, 2024 response. The regulator requests clearer disclosure regarding VIE consolidation conditions under U.S. GAAP and revision of civil liability enforceability disclosure to include Hong Kong.The SEC specifically asks for quantification of key revenue drivers, particularly regarding the decrease in public cloud services revenue. This decline was attributed to the company's strategic reduction in CDN services, partially offset by increased revenue from AI-related customers. The regulator has set a ten-business-day deadline for response.The comments were issued by SEC staff members Anastasia Kaluzienski and Robert Littlepage, focusing on financial statements and related matters. The correspondence continues the dialogue from the SEC's previous letter dated November 21, 2024.

The SEC has issued additional comments on Kingsoft Cloud's Form 20-F annual report for FY2023, following the company's December 5, 2024 response. The regulator requests clearer disclosure regarding VIE consolidation conditions under U.S. GAAP and revision of civil liability enforceability disclosure to include Hong Kong.The SEC specifically asks for quantification of key revenue drivers, particularly regarding the decrease in public cloud services revenue. This decline was attributed to the company's strategic reduction in CDN services, partially offset by increased revenue from AI-related customers. The regulator has set a ten-business-day deadline for response.The comments were issued by SEC staff members Anastasia Kaluzienski and Robert Littlepage, focusing on financial statements and related matters. The correspondence continues the dialogue from the SEC's previous letter dated November 21, 2024.