Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

Kingsoft Cloud is a subsidiary of Hong Kong-listed Kingsoft (3888 HK), that is aiming to raise up to USD 500 million via a listing in the US. In this note, we take a look at the value chain of the cloud service industry in China. Cloud service is under-penetrated in China and there will be large room for growth, particularly for independent providers. We explain the various types of services in the downstream cloud computing segment. We note that Kingsoft is a leading independent cloud service provider with a strong forte in the video cloud service segment.  Kingsoft Cloud has been growing rapidly with YoY revenue growth of  62% in the recent quarter. We summarize the company's four rounds of pre-IPO investment and estimate that the company was valued at USD 2.7 billion at the latest round. We also had a quick look at Kingsoft Cloud's peers, including both A-share listed cloud service providers and overseas listed data center providers with their main business in China. We have a preliminary valuation of USD 2.9 billion of EV for the company.

Kingsoft Cloud is a subsidiary of Hong Kong-listed Kingsoft (3888 HK), that is aiming to raise up to USD 500 million via a listing in the US. In this note, we take a look at the value chain of the cloud service industry in China. Cloud service is under-penetrated in China and there will be large room for growth, particularly for independent providers. We explain the various types of services in the downstream cloud computing segment. We note that Kingsoft is a leading independent cloud service provider with a strong forte in the video cloud service segment.  Kingsoft Cloud has been growing rapidly with YoY revenue growth of  62% in the recent quarter. We summarize the company's four rounds of pre-IPO investment and estimate that the company was valued at USD 2.7 billion at the latest round. We also had a quick look at Kingsoft Cloud's peers, including both A-share listed cloud service providers and overseas listed data center providers with their main business in China. We have a preliminary valuation of USD 2.9 billion of EV for the company.

Kingsoft Cloud (金山云) Pre-IPO: The Leading Cloud Provider in China

China

Kingsoft Cloud manufactures software. The Company mainly produces office software, king dictionary, game software, anti-virus software, and other application software.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Kingsoft Cloud (KC US)

Kingsoft Cloud (金山云) Pre-IPO: The Leading Cloud Provider in China

Kingsoft Cloud is a subsidiary of Hong Kong-listed Kingsoft (3888 HK), that is aiming to raise up to USD 500 million via a listing in the US. In...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)