2 months ago
Stock Market

China Software Giant Kingsoft Mulls Collaboration With JD.com

Investing.com - China software giant Kingsoft Corp Ltd (HK:3888) confirmed on Friday that it is

Investing.com - China software giant Kingsoft Corp Ltd (HK:3888) confirmed on Friday that it is in discussions with e-commerce giant Jd.Com (NASDAQ:JD) about a potential partnership.

“The Board hereby informs the shareholders of the Company and potential investors that the Group is in contact with JD. Com, Inc. to discuss possible business collaboration,” Kingsoft said in a statement.

However, it added that “no concrete plan has been formulated and no legally binding agreement has been entered.”

The company added that earlier there were media reports regarding the collaboration between its subsidiary Kingsoft Cloud Holdings Limited and JD, but noted that it “was not aware of the source of the media reports”.

The news sent Kingsoft Corp Ltd’s share price 1.1% higher to HK$13.14 by 1:27 AM ET (06:27 GMT).

Kingsoft makes entertainment, Internet security and office software, and its chairman is also China smartphone maker Xiaomi’s CEO Lei Jun.