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The latest announcement is out from Kingsoft ( (HK:3888) ).
Kingsoft Corporation has renewed and expanded its framework agreement with Xiaomi Group for a further three years to 31 December 2028, formalising a series of continuing connected transactions between the two companies. Under the new agreement, Kingsoft will provide Xiaomi with promotion, mailbox customised development, and licensing and subscription services, and will jointly operate Kingsoft’s games on Xiaomi’s platforms, while Xiaomi will in turn offer promotion, catering and other ancillary services, as well as supply products to Kingsoft. As Xiaomi is an associate of Kingsoft director and substantial shareholder Lei Jun, the deal is treated as a continuing connected transaction under Hong Kong listing rules, triggering reporting, announcement and annual review requirements but exempting it from independent shareholders’ approval; Lei Jun abstained from the board vote, and no other director was considered to have a material interest. The renewal underscores the stable, long-term business relationship between Kingsoft and Xiaomi and provides both sides with an institutional framework for ongoing cooperation in services, products and game operations over the medium term.
The most recent analyst rating on (HK:3888) stock is a Hold with a HK$30.00 price target. To see the full list of analyst forecasts on Kingsoft stock, see the HK:3888 Stock Forecast page.
More about Kingsoft
Kingsoft Corporation Limited is a Chinese software and internet company, listed in Hong Kong, that provides a range of online services including software, internet applications and games. The group maintains long-term strategic partnerships with major technology players, including Xiaomi Group, to expand distribution, promotion and co-operation opportunities across its product and service portfolio.
Average Trading Volume: 14,917,411
Technical Sentiment Signal: Hold
Current Market Cap: HK$39.68B
See more insights into 3888 stock on TipRanks’ Stock Analysis page.