We advised Kingsoft Cloud on its placement of new shares

Davis Polk advised Kingsoft Cloud Holdings Limited in connection with its placement of 338,000,000 new shares on the Hong Kong Stock Exchange in reliance on Regulation S. The gross proceeds from the offering were approximately HK$2.8 billion.

Davis Polk also advised Kingsoft Cloud Holdings Limited on its $292 million SEC-registered follow-on offering and concurrent private placement in April 2025.

Kingsoft Cloud Holdings Limited is a leading cloud service provider in China, and its securities are dual-primary listed on Nasdaq and the Hong Kong Stock Exchange. With its full commitment to cloud service, it is dedicated to mobilizing its resources to enable customers to successfully embrace the benefits of cloud solutions, to pursue their digital transformation strategies and to create business value. The proceeds of the placement are expected to be primarily utilized by Kingsoft Cloud Holdings Limited to further support its AI business, by expanding its infrastructure and enhancing its cloud service capabilities.

The Davis Polk corporate team included partners Li He and Jason Xu, counsel – registered foreign lawyers Kevin Zhang and Yue (Jenny) Yin, registered foreign lawyer Xiaofei Ye and associate Andrew Pu. Members of the Davis Polk team are based in the Hong Kong and Beijing offices.

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