Understanding the Market | KINGSOFT rose over 10% in the afternoon as Xiaomi Corporation publicly increased its stake in KINGSOFT, raising its shareholding ratio to 5.39%
KINGSOFT rose over 10% in the afternoon, and as of the time of publication, it was up 9.92%, trading at HKD 24.38, with a transaction volume of HKD 640 million. According to the Hong Kong Stock Exchange's equity disclosure information, on June 8th, Xiaomi Corporation increased its stake in KINGSOFT in the open market, raising its shareholding ratio to 5.39% by the close of that day. This increase indirectly led to a rise in Lei Jun's personal shareholding ratio in KINGSOFT. Xu Jieyun, special assistant to the chairman of Xiaomi Corporation and deputy general manager of the strategic marketing department, stated that the entity responsible for this increase is Xiaomi Corporation, and the related operations have been completed in compliance with regulations. The change in Lei Jun's shareholding ratio is an indirect effect of the group's increase and does not result from his personal stock purchases. Xiaomi has made it clear that the group remains optimistic about KINGSOFT's long-term development and values the future strategic synergy between the two parties
According to Zhitong Finance APP, Kingsoft (03888) rose over 10% in the afternoon, and as of the time of writing, it was up 9.92%, trading at HKD 24.38, with a transaction volume of HKD 640 million.
On the news front, according to the Hong Kong Stock Exchange's equity disclosure information, on June 8, Xiaomi Corporation increased its stake in Kingsoft in the open market. By the close of that day, Xiaomi's shareholding ratio had risen to 5.39%. This increase indirectly led to an increase in Lei Jun's personal shareholding ratio in Kingsoft.
Xiaomi Corporation's Chairman's Special Assistant and Deputy General Manager of the Strategic Marketing Department, Xu Jieyun, stated that the entity responsible for this increase is Xiaomi Corporation, and the related operations have completed compliance disclosures as required. The change in Lei Jun's shareholding ratio is an indirect effect of the group's increase and does not result from his personal purchase of shares. Xiaomi has made it clear that the group remains optimistic about Kingsoft's long-term development and values the strategic synergy prospects between the two parties
