Lei Jun, resigns as Chairman!

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【Introduction】Lei Jun resigns from positions as Chairman of Kingsoft Cloud and others, citing other work arrangements

China Fund Reporter Qiu Dekun

On the evening of March 25, Kingsoft Cloud announced that Lei Jun resigned from the position of non-executive director due to other work arrangements, effective from March 25, 2026.

The announcement shows that after resigning as a non-executive director of Kingsoft Cloud, Lei Jun will no longer serve as Chairman of Kingsoft Cloud, Chair of the Nomination Committee, or a member of the Remuneration Committee of the Board.

Public resume shows that Lei Jun has served as a non-executive director of Kingsoft Cloud since 2012, and has been Chairman of Kingsoft Cloud and other positions since 2015.

Kingsoft Cloud stated that Lei Jun has confirmed that he has no disagreements with the company’s board of directors.

After resigning from his roles as non-executive director of Kingsoft Cloud, the company’s board of directors appointed Vice Chairman Zou Tao as Chairman and Chair of the Nomination Committee, effective from March 25, 2026.

The resume shows that Zou Tao has served as a director of Kingsoft Cloud since December 2016 and has been Acting CEO since August 2022.

Zou Tao is a veteran of the “Kingsoft ecosystem.” In 1998, Zou Tao joined Kingsoft Software Limited (including its subsidiaries, collectively called Kingsoft Software Group), and has held multiple senior positions within the group.

Meanwhile, Kingsoft Cloud announced the appointment of Qu Heng as a non-executive director, member of the Nomination Committee, and member of the Remuneration Committee, effective from March 25, 2026.

The resume shows that Qu Heng joined Xiaomi Group in 2010, served as General Manager of the Ecosystem Department from 2018 to 2023, and is currently Vice President of Xiaomi Group and Chairman of the Group Technology Committee.

Qu Heng previously held multiple positions within the “Kingsoft ecosystem,” including roles as engineer, development manager, and project manager at Beijing Kingsoft Software Limited from 2005 to 2010.

Kingsoft Cloud stated that the company’s board believes that Lei Jun’s resignation from related company roles will not have any significant adverse impact on the company’s operations or financial condition.

The official website shows that Kingsoft Cloud is a cloud service provider offering over 150 solutions suitable for internet, public services, digital health, finance, and other fields, with business spanning multiple countries and regions worldwide.

On the same evening, Kingsoft Cloud released its 2025 performance report, showing total revenue of 9.56B yuan in 2025, a year-on-year increase of 22.80%; net loss of 944 million yuan, a reduction of 52.30% year-on-year.

The announcement states that in 2025, benefiting from large-scale expansion of intelligent cloud computing services, cloud revenue reached an unprecedented high, with public cloud service revenue reaching 6.63B yuan, up 32.50% year-on-year; industry cloud service revenue reached 2.93B yuan, up 5.30% year-on-year.

As of the close on March 25, Kingsoft Cloud’s Hong Kong stock price was HKD 7.55 per share, with a total market value of HKD 34.21 billion.