Kingsoft Cloud Holdings Ltd (NASDAQ: KC)

Kingsoft Cloud Holdings Limited is a leading provider of cloud services in China offering a comprehensive suite of infrastructure platform and software solutions designed to support digital transformation across key industries. The company delivers public cloud products industry specific solutions and end to end fulfillment services enabling customers to build migrate and manage applications on its cloud platform. Its core activities revolve around providing elastic computing storage networking database big data artificial intelligence and cloud delivery services to enterprises and organizations seeking scalable secure and compliant IT infrastructure.

Kingsoft Cloud Holdings Limited generates revenue primarily through the provision of cloud services to customers including public cloud offerings such as elastic computing cloud storage cloud networking cloud databases big data platforms artificial intelligence solutions and cloud delivery services. Revenue is derived from third party customer payments for these services which are delivered via its extensive cloud infrastructure and proprietary technologies. The company serves a diverse customer base across verticals including finance healthcare public service video artificial intelligence and enterprise internet sectors with revenue growth driven by expanding AI related business and increased adoption of its premium customer strategy.

The company operates through the following segments: Public Cloud Products Industry Specific Solutions and End-to-End Services.

• Public Cloud Products includes elastic computing cloud storage cloud networking cloud databases big data artificial intelligence platforms and cloud delivery services that provide on demand IT infrastructure resources to customers.

• Industry Specific Solutions comprises tailored cloud offerings for verticals such as AIGC video public service healthcare intelligent mobility and financial services designed to address industry specific business needs and regulatory requirements.

• End-to-End Services encompasses planning solution development fulfillment deployment and ongoing maintenance and upgrade services delivered by in house professionals to support the full cloud adoption lifecycle for customers.

Kingsoft Cloud Holdings Limited holds a strong position in China's cloud computing market as one of the early movers in serving internet customers with proprietary cloud native technology and has established a leading market presence in selected verticals through deep industry integration and strategic partnerships with vertical leaders. The company competes with both domestic and international cloud providers but differentiates itself through its extensive infrastructure extensive patent portfolio and end to end service capabilities that combine technology with delivery and support.

Kingsoft Cloud Holdings Limited serves a broad customer base including leading enterprises in finance healthcare public service video artificial intelligence e commerce government and internet sectors with a particular focus on premium customers who demonstrate increasing spending over time. The company had 486 492 and 473 premium customers in 2023 2024 and 2025 respectively reflecting its success in establishing long term relationships with high value clients across its targeted industries.