Kingsoft Cloud Holdings Ltd. said its subsidiary Wuhan Kingsoft Cloud has agreed to acquire a 20% equity interest in Shenzhen One Thing Technologies Co., Ltd. from Shenzhen Xunlei Network Technology Co., Ltd. for RMB50 million (tax included), under an equity transfer agreement signed on March 3, 2026. In the same agreement, Xunlei will sell a further 30% stake in the target to Shenzhen Xinghan Zhilian Technology Co., Ltd. for RMB75 million (tax included). Following completion, Kingsoft Cloud will indirectly hold 20% of the target and will not consolidate it in its financial statements; completion is expected within 10 business days after conditions are satisfied or waived, and Kingsoft Cloud will fund its payment from internal resources.

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