China's Kingsoft hits 4-1/2 month low on quarterly revenue miss

Kingsoft

29/05/2025 03:50

** Kingsoft Corporation 3888.HK shares fall 8.9% to HK$32.85

** Stock at its lowest level since January 14; top pct loser in the Hang Seng Tech Index .HSTECH, which is up 0.7%

** Set for biggest one-day pct drop since October 8, 2024

** Chinese software and IT services group posts Q1 revenue up 9% y/y at 2.34 bln yuan ($324.8 mln), while profit attributable slipped from 284.6 mln yuan to 283.9 mln yuan

** Jefferies maintains "buy" but trims PT from HK$43.30 to HK$42.80 amid softer than expected Q1 performance with total revenue behind consensus

** Nomura, with "buy" rating, says Kingsoft's Q1 earnings miss estimates on higher expenses

** Hang Seng Composite Index on information technology firms .HSCIIT adds 0.1%, Hang Seng Index .HSI gains 0.2%

($1 = 7.2036 Chinese yuan Renminbi)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))