Kingsoft Cloud Holdings Ltd (HK:3896) has released an update.
Kingsoft Cloud Holdings Limited has announced a significant Finance Lease Framework Agreement on September 2, 2024, with China Merchants Financial Leasing to boost its AI infrastructure. This agreement allows Kingsoft Cloud to access servers and facilities with a finance lease principal capped at RMB495 million, without the immediate high costs, aiding the company’s cloud services expansion. The transaction is classified as discloseable under Hong Kong Listing Rules, necessitating reporting and announcement, but not shareholder approval.
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