Kingsoft Cloud (03896.HK) Hot Stock Analysis Report

Kingsoft Cloud (03896.HK) is a technology stock related to cloud computing/AI concepts [2][3][4]. It has recently attracted widespread attention from investors after appearing on the popularity list of Hong Kong stocks on the East Money App [0]. According to market data, on December 12, 2025, the stock traded between HK$6.02 and HK$6.05, with a 52-week price range of HK$4.17 to HK$11.4 [3], and its current price is in the middle of the medium-term fluctuation range.

In terms of price performance, Kingsoft Cloud rose approximately 2.5-3.5% on December 11 along with the AI concept sector [2], but experienced a slight pullback on December 12, falling by about 0.5% [1]. The price fluctuation range on that day was HK$5.84 to HK$6.12, showing some intraday volatility [3]. Although specific trading volume data was not obtained, its presence on the hot list suggests that its trading volume may be significantly higher than the average, with active trading among retail investors [0].

Regarding market sentiment, retail investors have a high level of attention [0]. The China Universal Hong Kong Stock Connect Vision Value Hybrid Fund, an institutional investor, holds 3.88 million shares with a market value of approximately 29.0828 million yuan, accounting for 2.9% of the fund’s holdings [1]. Overall, the stock’s trend is highly correlated with the AI concept sector, and sector sentiment has a significant impact on its short-term performance [2].

1. Sector Linkage
   : Kingsoft Cloud’s price changes are highly correlated with the overall trend of the AI concept sector, and sector fluctuations are the main factor affecting its short-term performance [1][2].
2. Popularity and Liquidity
   : Appearing on the East Money App’s hot list reflects high attention from retail investors, and short-term liquidity is expected to remain at a high level [0].
3. Price Range Characteristics
   : The current price is in the middle of the 52-week range, with significant upside potential above, but it needs to break through the recent resistance level of HK$6.12 to strengthen further [3].

• Opportunities
  : As an AI concept stock, if the sector remains active, Kingsoft Cloud may benefit from the improvement in overall market sentiment [2][3]. The high liquidity brought by the hot list effect also provides opportunities for short-term trading [0].
• Risks
  : The risk of sector fluctuations is significant; if the AI concept sector pulls back overall, the stock may face downward pressure [1][2]. At the same time, the cloud computing industry is highly competitive, and Kingsoft Cloud needs to cope with competition from leading domestic and foreign enterprises [4]. In addition, some key data (such as real-time trading volume and latest financial indicators) are limited, leading to information asymmetry risks.

As an AI concept technology stock, Kingsoft Cloud (03896.HK) has recently become a popular Hong Kong stock due to sector fluctuations and investor attention. Its current price ranges from HK$6.02 to HK$6.05, positioned in the middle of its 52-week price range. After rising approximately 2.5-3.5% on December 11, it fell slightly by 0.5% on December 12, showing some volatility. Retail investors have high attention, and institutional holdings are stable. Investors should closely monitor the overall trend of the AI concept sector and pay attention to risk factors such as sector fluctuations and industry competition.