olivLaw · US equity research
Kingsoft Cloud Holdings Limited KC
Services-Prepackaged Software · SIC 7372 · Vertical: Services-Prepackaged Software (SIC 7372)
Kingsoft Cloud provides public cloud and enterprise cloud services in China, focused on premium customers in selected verticals. The company has grown in recent years but still reports net losses, and its infrastructure and AI-related expansion makes its direction worth close monitoring.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Kingsoft Cloud Holdings Limited (KC) stock was 8.10 USD (+6.44% on the day), with market capitalisation 36.3 bn USD, beta 1.86, 52-week range 7.61–18.21 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 42.0
- weak (30–45)
- Bollinger (20, 2)
- 7.61 – 9.45
- in the lower half of the band · %B 0.27 · band width 21.6%
- SMA 50 / 200
- 9.31 / 11.98
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.41 / -0.38
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −12.6% | −1.1% | −11.5 pp | — |
| 3 months | −35.3% | −0.5% | −34.8 pp | — |
| 6 months | −51.3% | +4.4% | −55.7 pp | — |
| Year to date | −21.7% | +12.3% | −34.0 pp | — |
| 1 year | −32.6% | +13.5% | −46.1 pp | −0.1% |
| 3 years | +53.1% | +76.4% | −23.3 pp | +20.6% |
| 5 years | −61.1% | +63.7% | −124.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 1.4 bn | 1.2 bn | 992.6 m | 1.1 bn | 1.4 bn |
| Revenue YoY | unavailable | +41.1% | −16.6% | −16.3% | +7.5% | +28.2% |
| Net income | -147.5 m | -249.3 m | -385.4 m | -306.5 m | -269.4 m | -133.9 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | -0.11 | -0.09 | -0.07 | -0.03 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -14.6% | -17.5% | -32.5% | -30.9% | -25.3% | -9.8% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 860.6 m USD
- Financial debt
- 911.2 m USD
- Net debt
- 50.6 m USD
- Equity
- 1.3 bn USD
- Total assets
- 3.8 bn USD
- Debt / equity
- 0.68x
- Current ratio
- 1.17x
- ROE
- -3.9%
- ROA
- -4.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 1.4 bn | 1.2 bn | 992.6 m | 1.1 bn | 1.4 bn | SEC (XBRL)· 23 Apr 2026verified |
| Cost of revenue | 953.3 m | 1.4 bn | 1.1 bn | 872.9 m | 882.9 m | 1.2 bn | SEC (XBRL)· 23 Apr 2026verified |
| Gross profit | 54.7 m | 55.1 m | 62.3 m | 119.7 m | 183.7 m | 215.0 m | SEC (XBRL)· 23 Apr 2026verified |
| Research & development | 118.8 m | 163.8 m | 140.8 m | 110.5 m | 115.9 m | 115.9 m | SEC (XBRL)· 23 Apr 2026verified |
| Operating income | -185.0 m | -284.4 m | -326.4 m | -297.0 m | -238.2 m | -110.5 m | SEC (XBRL)· 23 Apr 2026verified |
| Depreciation & amortisation | 116.2 m | 134.3 m | 167.8 m | 132.5 m | 173.0 m | 354.7 m | SEC (XBRL)· 23 Apr 2026verified |
| EBITDA | -68.8 m ≈ | -150.1 m ≈ | -158.6 m ≈ | -164.5 m ≈ | -65.2 m ≈ | 244.2 m ≈ | SEC (XBRL)· 23 Apr 2026derived |
| Interest expense | 1.4 m | 8.2 m | 20.0 m | 20.6 m | 31.5 m | 71.2 m | SEC (XBRL)· 23 Apr 2026verified |
| Pre-tax income | -145.2 m | -247.3 m | -386.2 m | -305.0 m | -271.3 m | -135.5 m | SEC (XBRL)· 23 Apr 2026verified |
| Income tax | 2.3 m | 2.5 m | 3.5 m | 2.5 m | -209.0 k | -601.0 k | SEC (XBRL)· 23 Apr 2026verified |
| Net income | -147.5 m | -249.3 m | -385.4 m | -306.5 m | -269.4 m | -133.9 m | SEC (XBRL)· 23 Apr 2026verified |
| Diluted EPS | — | — | -0.11 | -0.09 | -0.07 | -0.03 | SEC (XBRL)· 23 Apr 2026verified |
| Weighted average diluted shares | 2.4 bn | 3.4 bn | 3.6 bn | 3.6 bn | 3.7 bn | 4.1 bn | SEC (XBRL)· 23 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 524.9 m | 661.8 m | 495.7 m | 317.7 m | 362.9 m | 860.6 m | SEC (XBRL)· 23 Apr 2026verified |
| Receivables | 357.8 m | 560.4 m | 348.3 m | 215.5 m | 201.2 m | 248.9 m | SEC (XBRL)· 23 Apr 2026verified |
| Current assets | 1.5 bn | 1.9 bn | 1.3 bn | 858.9 m | 937.2 m | 1.6 bn | SEC (XBRL)· 23 Apr 2026verified |
| Property, plant & equipment, net | 299.9 m | 371.0 m | 309.3 m | 307.9 m | 634.3 m | 1.4 bn | SEC (XBRL)· 23 Apr 2026verified |
| Goodwill | — | 725.8 m | 667.8 m | 648.7 m | 631.0 m | 658.6 m | SEC (XBRL)· 23 Apr 2026verified |
| Intangibles (excl. goodwill) | 2.5 m | 183.6 m | 146.1 m | 117.5 m | 95.2 m | 76.2 m | SEC (XBRL)· 23 Apr 2026verified |
| Total assets | 1.8 bn | 3.3 bn | 2.5 bn | 2.1 bn | 2.4 bn | 3.8 bn | SEC (XBRL)· 23 Apr 2026verified |
| Accounts payable | 315.3 m | 461.1 m | 333.8 m | 254.2 m | 257.1 m | 288.1 m | SEC (XBRL)· 23 Apr 2026verified |
| Short-term debt | 42.7 m | 211.6 m | 131.9 m | 156.5 m | 304.9 m | 478.8 m | SEC (XBRL)· 23 Apr 2026verified |
| Long-term debt | — | — | 250.0 m | 299.6 m | 227.5 m | 432.4 m | SEC (XBRL)· 23 Apr 2026verified |
| Current liabilities | 531.1 m | 1.2 bn | 965.4 m | 961.8 m | 1.3 bn | 1.3 bn | SEC (XBRL)· 23 Apr 2026verified |
| Total liabilities | 565.4 m | 1.5 bn | 1.1 bn | 1.1 bn | 1.7 bn | 2.5 bn | SEC (XBRL)· 23 Apr 2026verified |
| Equity | 1.3 bn | 1.8 m | 1.4 bn | 1.0 bn | 5.5 bn | 1.3 bn | SEC (XBRL)· 23 Apr 2026verified |
| Shares outstanding at year end | 3.3 bn | 3.6 bn | 3.8 bn | 3.8 bn | 3.8 bn | 4.5 bn | SEC (XBRL)· 23 Apr 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -44.5 m | -111.2 m | 27.4 m | -23.8 m | 86.1 m | 543.5 m | SEC (XBRL)· 23 Apr 2026verified |
| Investing cash flow | -661.2 m | -66.2 m | -4.8 m | -94.8 m | -496.0 m | -647.7 m | SEC (XBRL)· 23 Apr 2026verified |
| Financing cash flow | 938.6 m | 347.2 m | -167.0 m | -32.1 m | 446.0 m | 598.2 m | SEC (XBRL)· 23 Apr 2026verified |
| Share repurchases | — | — | 30.2 m | — | 0 | — | SEC (XBRL)· 15 Apr 2025verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 28 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 36.3 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation6
- Returns33
- Quality13
- Balance sheet48
- Growth43
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.65 – 2.26 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/Sales1.39 – 2.26 (Mid 1.76)14 companies used · median multiple 5.8x · quartiles 4.6x – 7.4xADBE, ADSK, APPN, CRM, INTU, MSFT, NABL, NOW, PTC, RBLX, SNPS, SSNC, TTWO, TWLO
- Peers: EV/EBITDA0.65 – 1.25 (Mid 0.99)7 companies used · median multiple 18.3x · quartiles 12.2x – 23.1xADBE, ADSK, CRM, NABL, PTC, SNPS, SSNC
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 28/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 15.7% | 0 (on a fixed band) | 14% |
| EBIT margin · Quality | -8.1% | 28 (vs peers) | 11% |
| FCF margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 4.8% | 19 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | 28.2% | 90 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | 0.2x | 75 (vs peers) | 8% |
| Current ratio · Balance sheet | 1.2x | 22 (on a fixed band) | 8% |
| EV/Sales · Valuation | 26.6x | 6 (vs peers) | 22% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.0% | 33 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet48/100 · 2/2 factors with a value
- Growth43/100 · 2/2 factors with a value
- Quality13/100 · 2/3 factors with a value
- Returns33/100 · 1/1 factors with a value
- Valuation· partial6/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Kingsoft Cloud Holdings Ltd (KC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 1.4 bn USD in 2025; YoY growth 28.2%; net margin -9.8%; ROE -13.1%; net debt/EBITDA 0.2x.
The estimated value range is 1.02–1.75 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 1.37 USD, the price of 8.10 USD leaves a potential of -83.0% (value / price − 1) and a margin of safety of -489.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 28/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue growth (YoY): 28.2%
- Net debt / EBITDA: 0.2x
What contradicts it
- Gross margin: 15.7%
- EBIT margin: -8.1%
- Revenue CAGR 3Y: 4.8%
- Current ratio: 1.2x
- EV/Sales: 26.6x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF margin, FCF yield.
Versus the vertical median
Services-Prepackaged Software (SIC 7372) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MSFTMicrosoft Corporation | 4,127.5 bn | 29.0 | 34.2% | 41.2% | +17.8% | +13% / +47% |
| PLTRPalantir Technologies Inc. | 413.7 bn | 120.4 | 41.2% | 50.3% | +56.2% | +2% / +756% |
| ORCLOracle Corporation | 374.1 bn | 19.3 | 41.6% | 26.4% | +17.3% | −39% / +6% |
| CRWDCrowdStrike Holdings, Inc. | 246.8 bn | 1,120.4 | 1.3% | 1.1% | +21.7% | +89% / +307% |
| CRMSalesforce, Inc. | 186.9 bn | 20.7 | 19.4% | 22.0% | +9.6% | −1% / −10% |
| NOWServicenow, Inc. | 112.9 bn | 78.1 | 11.8% | 9.4% | +20.9% | −33% / −21% |
| SNOWSnowflake Inc. | 102.5 bn | — | -48.2% | -20.1% | +29.2% | +16% / +55% |
| ADBEAdobe Inc. | 96.7 bn | 13.9 | 61.9% | 28.0% | +10.5% | −22% / −59% |
| INTUIntuit Inc. | 95.3 bn | 21.7 | 23.6% | 21.3% | +13.9% | −44% / −38% |
| CDNSCadence Design Systems, Inc. | 90.4 bn | 65.5 | 22.9% | 22.5% | +14.1% | +6% / +21% |
| SNPSSynopsys Inc | 88.7 bn | 81.8 | 3.7% | 11.4% | +15.1% | +11% / −15% |
| ADSKAutodesk, Inc. | 56.4 bn | 35.0 | 53.9% | 21.1% | +17.5% | −11% / +24% |
| VEEVVeeva Systems Inc. | 50.3 bn | 50.8 | 14.4% | 29.3% | +16.3% | +29% / +78% |
| TTWOTake-Two Interactive Software, Inc. | 39.1 bn | — | -9.0% | -4.8% | +18.2% | −15% / +32% |
| KCKingsoft Cloud Holdings Ltd | 36.3 bn | — | -13.1% | -9.8% | +28.2% | −33% / +53% |
| RBLXRoblox Corporation | 35.3 bn | — | -478.2% | -16.5% | +35.8% | −48% / +25% |
| TWLOTwilio Inc. | 33.0 bn | 26.8 | 14.9% | 21.8% | +13.7% | +65% / +230% |
| MDBMongodb, Inc. | 26.5 bn | 449.1 | 2.0% | 2.1% | +22.8% | −1% / −21% |
| PTCPTC Inc. | 21.2 bn | 19.0 | 35.1% | 41.4% | +19.2% | +11% / +24% |
| UUnity Software Inc. | 18.7 bn | — | -18.9% | -29.0% | +2.0% | −0% / +44% |
| SSNCSs&C Technologies Holdings, Inc. | 18.7 bn | 22.9 | 12.7% | 13.2% | +6.6% | −7% / +41% |
| NTNXNutanix, Inc. | 17.2 bn | 12.3 | 37,460.2% | 52.8% | +12.4% | +33% / +48% |
| TYLTyler Technologies, Inc. | 16.8 bn | 53.3 | 10.5% | 13.5% | +9.1% | −10% / +4% |
| DOCUDocusign, Inc. | 15.0 bn | 49.1 | 17.8% | 9.8% | +8.2% | +16% / +87% |
| GWREGuidewire Software, Inc. | 14.0 bn | 104.7 | 10.5% | 9.4% | +22.7% | −21% / +71% |
1- and 3-year price returns: for KC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 23 Apr 2026; since then the company filed 6-K (29 Oct 2026), 6-K (07 Oct 2026), 6-K (21 Sept 2026), 6-K (04 Sept 2026), 6-K (19 Aug 2026).
In brief
Kingsoft Cloud provides public cloud and enterprise cloud services in China, focused on premium customers in selected verticals. The company has grown in recent years but still reports net losses, and its infrastructure and AI-related expansion makes its direction worth close monitoring.
SWOT
Strengths
- The company has a large and diversified base of premium customers, with average value per customer rising in 2025 1.
- Its market leadership and ties to the Kingsoft ecosystem support its ability to win customers across varied verticals 1.
- Ongoing investment in technology and infrastructure supports the development of proprietary products and services 1.
Weaknesses
- The company still reports net losses, and depreciation of equipment has risen sharply, weighing on profitability 1.
- The VIE structure, based on contractual arrangements, is less secure than direct ownership and carries enforcement risks 1.
- The number of premium customers declined in 2025, showing difficulty in holding the customer base in certain segments 1.
Opportunities
Risks
- Persistent net losseshigh
The company has not yet reached net profit, and losses could limit its ability to fund infrastructure investment 1.
- VIE structurehigh
Control over operations in China rests on contractual arrangements, which could lead to disputes or loss of control if regulations change 1.
- Permits and regulationmedium
The company may need additional licenses, and failure to renew them could affect operations 1.
- Intense competitionmedium
Competitors in public cloud and enterprise solutions could reduce market share or pricing 1.
- Currency risklow
Revenues are reported in RMB, and US dollar figures depend on exchange rates, which could affect reported results in USD 1.
Investment thesis
What would need to be true (bull case)
- If public cloud revenues keep growing and average value per customer holds, the company could turn growth into profitability.
- If AI adoption accelerates demand for specialized services, its leadership position could support new large contracts.
- Integrating the financial-sector acquisition could bring cross-selling and a more stable customer base.
What would break the thesis
- If net losses persist and depreciation keeps rising, the company could remain under financial pressure.
- If the number of premium customers keeps falling, revenue growth could depend too heavily on value per customer.
- If authorities changed their interpretation of the contractual arrangements, the control structure could become uncertain for investors.
What to watch
- Trend in the number of premium customers and average value per customerQ1 2027
- Development of net losses and depreciation in the annual reportnext 10-K
- Growth pace of the public cloud segment2027
- Any change in regulation of the VIE structure or licenses2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 23 Apr 2026; since then the company filed 6-K (29 Oct 2026), 6-K (07 Oct 2026), 6-K (21 Sept 2026), 6-K (04 Sept 2026), 6-K (19 Aug 2026).
The business
Kingsoft Cloud Holdings Limited is a Cayman company with its operational headquarters in Beijing, conducting business in China through variable interest entities controlled by contractual arrangements. The company adopts a strategy focused on premium customers, concentrating on leading enterprises in selected verticals. In fiscal 2025, total revenues were 9558,6 million RMB 1. According to the report, the company was incorporated in 2012 and has been listed on Nasdaq since May 2020 1.
The company provides two main categories of services: public cloud services, charged monthly based on utilization and duration, and enterprise cloud services, generally charged on a project basis. Cost of revenues is dominated by IDC costs, depreciation of equipment such as servers, and solution development costs 1. The number of premium customers declined slightly from 492 in 2024 to 473 in 2025, while average revenue per premium customer rose to 14,6 million RMB 1.
The legal structure remains an important feature: companies in China providing value-added telecommunications services cannot have direct foreign capital, so control is exercised through contractual arrangements with the VIEs 1. The report states that this control may be less effective than direct ownership and that enforcing these arrangements could create additional costs and risks 1.
Segments
Public cloud services
The public cloud segment accounted for 69,4% of total revenues in 2025, serving as the main growth driver 1. Customers come from video, intelligent mobility, e-commerce, AI and mobile internet, and average revenue per customer in this segment rose to 30,3 million RMB in 2025 1.
Enterprise cloud services
The enterprise cloud segment accounted for 30,6% of total revenues in 2025, with customers in public services, healthcare, financial services and private enterprises 1. Services are charged on a project basis according to performance completed to date, and the number of premium customers in this segment fell to 273 in 2025 1.
Market context
The report describes cloud development in China as supported by demand from internet verticals, AI adoption, data compliance requirements and favorable government policies 1. The company also notes considerable uncertainty about the future growth of this market, which is entering a new phase of digitalization 1.
The market is competitive, and the company positions itself as a market leader, citing its neutrality, enterprise service capabilities inherited from the Kingsoft group and research and development strength 1. The report warns that increased competition could materially and adversely affect results 1.
Trends
- AI adoption in cloudmixed
The report points to growing adoption of AI technologies as a factor that could support cloud demand 1. However, expanding the required infrastructure could weigh on costs.
- Digitalization of traditional enterprisestailwind
The shift of traditional companies and public service organizations to the cloud supports growth in enterprise services, according to the report 1.
- Stricter data compliance requirementsmixed
Higher requirements on compliance and data protection could create opportunities for local providers but also raise the cost of meeting regulations 1.
- Economic and regulatory uncertainty in Chinaheadwind
Changes in China's economy or industry regulation could reduce demand for the company's services and affect results, as the report warns 1.
Competitive position
The report does not name competitors, but it stresses that the company operates in verticals with several players and that its competitive position depends on the scope of its offerings, solution quality and the ability to price competitively 1.
The company argues that its advantages come from neutrality toward customers, experience in enterprise services and proprietary technologies, which could create entry barriers for competitors 1. The Camelot acquisition, which offers digital solutions to the financial sector, is cited as a way to extend reach into that field 1.
- Local public cloud providers in China
The report mentions several players in the industry without naming them, which makes direct competitors hard to identify from the document.
- Enterprise solution providers
Competition in enterprise cloud comes from providers offering solutions for the financial, public and healthcare sectors, according to the company's description.
- Infrastructure and IDC suppliers
Infrastructure costs depend on outside suppliers of bandwidth and data center space, who are in a sense also partners.
- Digital financial solutions operators
Through the Camelot acquisition, the company meets competitors that supply banking and anti-fraud software to the financial sector.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)29 Oct 2026
- Current report (foreign issuer)07 Oct 2026
- Current report (foreign issuer)21 Sept 2026
- Current report (foreign issuer)04 Sept 2026
- Current report (foreign issuer)19 Aug 2026
- Current report (foreign issuer)19 Aug 2026
- Current report (foreign issuer)06 Aug 2026
- Current report (foreign issuer)17 Jul 2026
- Current report (foreign issuer)07 Jul 2026
- Current report (foreign issuer)30 Jun 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Kingsoft Cloud Holdings Limited · 23 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.