Kingsoft Cloud's (HKG:3896) consolidated affiliated entity Kingsoft Cloud QY Data agreed to avail up to 300 million yuan from Cinda Financial Leasing under a direct finance leasing deal, a Tuesday filing with the Hong Kong Exchange said.
The group plans to use the financing to support the development of its AI infrastructure and business operations in cloud services.
The parties will separately decide on the interest rates for individual agreements while the payment under the individual finance lease agreements will be settled in equal quarterly installments.
The finance lease expires on July 12, 2025, the filing said.
The cloud services provider's shares closed nearly 8% higher on Tuesday.
Price (HKD): $1.28, Change: $+0.090, Percent Change: +7.56%
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