Kingsoft (HK:3888) has released an update.
Kingsoft Corporation Limited has announced an update on their Connected Transaction, disclosing the replacement of their original partnership agreement with a new one that increases the total subscription contribution of the Beijing Xiaomi Intelligent Manufacturing Equity Investment Fund Partnership to RMB 10 billion. The new agreement retains Kingsoft Wuhan’s original contribution of RMB 500 million while adding RMB 970 million from other original and new partners. The fund’s formation is a significant move, reflecting an increased commitment from involved partners.
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