Kingsoft Cloud Holdings Ltd (3896.HK) saw its stock price plummet by 6.70% in pre-market trading on Thursday, following the release of its unaudited first quarter 2025 financial results and announcement of management changes. Despite reporting a 10.9% year-over-year increase in revenue to RMB1,970.0 million, investors appeared concerned about the company's continued losses and boardroom shake-up.
The cloud services provider reported a net loss of RMB316.1 million for the quarter, with basic and diluted net loss per share amounting to RMB0.08. While the revenue growth suggests improving market traction, the persistent losses indicate ongoing challenges in achieving profitability in the highly competitive cloud computing sector.
Adding to investor unease, Kingsoft Cloud announced changes to its board of directors. Mr. Feng Honghua will be resigning as a non-executive director effective after the annual general meeting on June 9, 2025, citing other business commitments. Mr. Zhang has been appointed as the new non-executive director, marking a significant change in the company's leadership structure.
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