Kingsoft Cloud: Lei Jun Resigns as Chairman and Non-Executive Director Due to Other Work Arrangements

On the evening of March 25, Kingsoft Cloud Holdings Limited (03896.HK, Kingsoft Cloud) announced that Lei Jun has resigned as a non-executive director due to other work commitments, effective March 25. After stepping down, he will no longer serve as chairman, chairman of the Nomination Committee, or member of the Remuneration Committee of the Board.

The announcement stated that Lei Jun has served as a non-executive director since the company’s founding in 2012 and has been chairman since 2015. The Board sincerely thanks Lei Jun for his visionary leadership and outstanding contributions during his tenure in strategic planning, resource integration, and long-term development of the Group, and wishes him continued success in his future endeavors.

Additionally, Mr. Zou Tao, Vice Chairman of Kingsoft Cloud, has been appointed as Chairman and Chairman of the Nomination Committee, effective March 25.

The announcement shows that Zou Tao, aged 50, has been a director of the company since December 2016 and has served as Acting CEO since August 2022. Zou Tao joined Kingsoft Software Limited in 1998 and has held multiple senior positions within Kingsoft Group.

According to the official website, Kingsoft Software was founded in 1988 and is one of the earliest internet software companies in China. Its main business lines include Kingsoft Office, Xishan Residence, Kingsoft World Games, and Kingsoft Cloud. Kingsoft Office focuses on the design, development, sales, and promotion of WPS Office software products; Xishan Residence and Kingsoft World Games are engaged in game development and operations; Kingsoft Cloud provides secure, reliable, stable, and high-quality cloud computing services.

Founded in 2012, Kingsoft Cloud is a well-known cloud service provider in China with operations spanning multiple countries and regions worldwide. In May 2020, Kingsoft Cloud was listed on NASDAQ in the United States; in December 2022, it completed a dual primary listing on the Main Board of the Hong Kong Stock Exchange through an introduction. Leveraging 37 years of enterprise service experience from Kingsoft Group, Kingsoft Cloud emphasizes technology-driven development, gradually building a comprehensive cloud computing infrastructure and operational system, and integrating advanced technologies such as big data, artificial intelligence, and edge computing. The company deeply explores various industries, providing over 150 solutions applicable to internet, public services, digital health, finance, and other fields, serving nearly 500 high-quality clients with premium cloud services.

The financial report released on March 25 shows that Kingsoft Cloud’s revenue last year was 9.56 billion yuan, a year-on-year increase of 22.8%, with net loss significantly narrowed from 1.979 billion yuan in 2023 to 943 million yuan.

As of the close of Hong Kong stocks on March 25, Kingsoft Cloud rose 3.28%, closing at HKD 7.55.

(Source: The Paper)