Lei Jun resigns as non-executive director of Kingsoft Cloud due to work arrangements; Zou Tao and Qu Heng take over new roles. Performance is expected to improve by 2025.

Kingsoft Cloud recently announced a significant personnel change. Founder Lei Jun will resign from his non-executive director position due to work arrangements, and will also step down from roles including Chairman, Chair of the Nomination Committee, and Compensation Committee. The change will take effect on March 25, 2026. The announcement emphasizes that Lei Jun and the board have no disagreements regarding this personnel adjustment.

According to publicly available information, Lei Jun has served as a non-executive director of Kingsoft Cloud since 2012 and was promoted to Chairman in 2015, playing a key role in the company’s cloud computing strategy. His successor, Zou Tao, is a senior executive in the Kingsoft ecosystem. Since joining Kingsoft Software in 1998, Zou Tao has held multiple key positions. He joined the Kingsoft Cloud board in 2016 and has been acting CEO since 2022. After this adjustment, Zou Tao will also serve as Chairman and Chair of the Nomination Committee.

The board also announced that Qu Heng, Vice President of Xiaomi Group, will become a non-executive director and join the Nomination and Compensation Committees. Qu Heng joined Xiaomi Group in 2010 and has led ecosystem development; between 2005 and 2010, he also held technical management roles at Kingsoft Software. This personnel change creates a hybrid management structure combining the “Kingsoft ecosystem” and “Xiaomi ecosystem,” highlighting strategic collaboration between the two tech giants.

Alongside the personnel announcement, Kingsoft Cloud disclosed its 2025 financial report. The company reported full-year revenue of 9.559 billion yuan, a 22.8% increase year-over-year; net loss narrowed to 944 million yuan, a 52.3% reduction. In terms of business structure, public cloud services revenue reached 6.634 billion yuan, up 32.5%; industry cloud services revenue was 2.925 billion yuan, maintaining a steady 5.3% growth. The company specifically pointed out that the large-scale expansion of intelligent cloud computing services is the core driver of performance improvement.

As a global cloud service provider, Kingsoft Cloud offers over 150 solutions across internet, public services, digital health, finance, and other sectors. As of the announcement date, its Hong Kong stock price closed at HKD 7.55, with a market capitalization of approximately HKD 34.21 billion. Market analysts believe that a smooth leadership transition and continued core business growth will provide dual safeguards for Kingsoft Cloud to maintain its competitive edge in a fierce market environment.