On May 26, Kingsoft Cloud fell 5.09% in regular trading, trading at HK$7.02/share, with trading volume of HK$150 million, extending its recent weak trend following multiple consecutive sessions of decline.

On the news front, China Telecom and China Mobile officially launched trial commercial Token packages on May 17, marking a paradigm shift from the traditional traffic GB-based billing model to a Token-based pricing era. Under this new model, telecom operators leverage their cloud-network integration advantages and massive user base of over one billion subscribers to directly enter the computing power and AI service distribution segment. The market remains concerned that traditional cloud service and computing power leasing companies such as Kingsoft Cloud may see their intermediary role structurally weakened, with their business models and growth prospects subject to ongoing repricing.

This structural impact has triggered sector-wide adjustments since May 20. Kingsoft Cloud's share price resumed its downward trajectory after a brief rebound, reflecting persistent investor concern over the fundamental reshaping of the competitive landscape in cloud services.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)