Why Kingsoft Cloud's Initial Reports Are Promising [Seeking Alpha]
Phoenix New Media Limited American Depositary Shares, each representing 48 Class A ordinary shares. (FENG)
Last phoenix new media limited american depositary shares, each representing 48 class a ordinary shares. earnings: 3/18 05:00 pm
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Source: Seeking Alpha
SummaryKingsoft Cloud, a spin-off from Chinese software company Kingsoft, has released initial details about its planned IPO.The Chinese cloud market is expected to grow rapidly to become one of the largest cloud markets in the world, and Kingsoft is a major Chinese cloud provider.The coronavirus itself is not a threat and is potentially a boon to Kingsoft, though there is a threat of increased competition.Kingsoft is highly unprofitable as it only barely eked out a gross profit, but the rest of its financials are in much better shape.Initial reports of Kingsoft Cloud's valuation are too low. If the company prices are anywhere close to this range, this should be an easy buy.Chinese cloud company Kingsoft Cloud (KCOTCPK:KSFTFKingsoft Cloud is for now using a $100 million placeholder figure used to calculate filing fees. But the company was valued at $2.4 billion in a January 2018 funding round according toYicai GlobalThe Chinese Cloud Market and Kingsoft's BusinessThe West has been hea
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