Hong Kong shares of China's Kingsoft Cloud at record high on Q4 revenue beat

Kingsoft Cloud Holdings

30/03/2023 03:53

** Hong Kong shares of Kingsoft Cloud Holdings Ltd  3896.HK 
soar as much as 33.2% to HK$4.45, their highest since debut on
Dec. 30, 2022
    ** Stock on course for a second session of gain, tracking a
20.8% jump in U.S.-listed shares  KC.O  
    ** Stock is the biggest pct gainer in Hang Seng Composite
Index  .HSCI  and Hang Seng Composite Index on information
technology firms  .HSCIIT  
    ** Beijing-based cloud services company says its Q4 revenues
reached 2.13 bln yuan ($308.66 mln), increased steadily by 8.2%
quarter-over-quarter  
    ** Company expects its total revenues to be between 1.85 bln
yuan and 2.05 bln yuan for the first quarter of 2023
    ** Jefferies maintains "buy" rating on the stock saying
Kingsoft Cloud reported 4Q results with revenue and gross profit
margin ahead of market expectations  
    ** Hang Seng Composite Index on information technology firms
 .HSCIIT  climbs 0.2%, and Hang Seng Tech Index  .HSTECH  gains
0.01%
    ** The Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  boht slip 0.3%
    

($1 = 6.9008 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))