<SEC-DOCUMENT>0000950123-20-002237.txt : 20200605
<SEC-HEADER>0000950123-20-002237.hdr.sgml : 20200605
<ACCEPTANCE-DATETIME>20200214092250
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-20-002237
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Kingsoft Cloud Holdings Ltd
		CENTRAL INDEX KEY:			0001795589
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		KINGSOFT TOWER
		STREET 2:		NO. 33 XIAO YING WEST ROAD
		CITY:			HAIDIAN DISTRICT, BEIJING
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		86 10 8232 5655

	MAIL ADDRESS:	
		STREET 1:		KINGSOFT TOWER
		STREET 2:		NO. 33 XIAO YING WEST ROAD
		CITY:			HAIDIAN DISTRICT, BEIJING
		STATE:			F4
		ZIP:			00000
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Davis Polk &amp; Wardwell</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hong Kong
Solicitors</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The&nbsp;Hong&nbsp;Kong&nbsp;Club&nbsp;Building</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3A
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Sinclair*</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Miranda So*</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">James Wadham&#134;</P></TD>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Kingsoft Cloud Holdings Limited (CIK: 0001795589) </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Responses to the Staff&#146;s Comments on the Amendment No.&nbsp;1 to Draft Registration </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> Submitted January&nbsp;23, 2020 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Confidential </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Bernard Nolan </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Larry Spirgel </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Inessa Kessman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Robert Littlepage </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Technology </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange
Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Nolan, Mr.&nbsp;Spirgel, Ms.&nbsp;Kessman and Mr.&nbsp;Littlepage: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of Kingsoft Cloud Holdings Limited (the <B>&#147;Company&#148;</B>), a company incorporated under the laws of the Cayman Islands, we
are submitting to the Staff (the <B>&#147;Staff&#148;</B>) of the Securities and Exchange Commission (the <B>&#147;Commission&#148;</B>) this letter setting forth the Company&#146;s responses to the comments contained in the Staff&#146;s letter
dated February&nbsp;6, 2020 on the Company&#146;s Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> confidentially submitted on January&nbsp;23, 2020 (the <B>&#147;Draft Registration Statement&#148;</B>). Concurrently
with the submission of this letter, the Company is submitting its revised draft registration statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> (the <B>&#147;Revised Draft Registration Statement&#148;</B>) via EDGAR to the Commission for
confidential review in accordance with the procedures of the Commission. The Company confirms that its securities have not been previously sold pursuant to an effective registration statement under the Securities Act of 1933, as amended. The Company
also confirms that it will publicly file the registration statement previously submitted on a confidential basis at least 15 days prior to any road show in connection with the offering. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has responded to all of the Staff&#146;s comments by revising the Draft
Registration Statement to address the comments, by providing an explanation if the Company has not so revised the Draft Registration Statement, or by providing supplemental information as requested. The Staff&#146;s comments are repeated below in
bold, followed by the Company&#146;s responses to such comments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To facilitate your review, we have separately delivered to you four
courtesy copies of the Revised Draft Registration Statement, marked to show changes to the Draft Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Amendment No.&nbsp;1 to Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Risk Factors </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Risk Relating to Our
Relationships with Kingsoft Group and Xiaomi, page 44 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comments 1 and 5 that Kingsoft Group and Xiaomi are not under common control.
Please, however, enhance the discussion of the risks related to your dependence on Kingsoft and Xiaomi by disclosing that Mr.&nbsp;Jun Lei exercises significant influence over Kingsoft Group. In this regard, we note that in addition to serving as
the chairman, he appears to be the largest shareholder of Kingsoft Group.</B> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment,
the Company has revised the disclosures on page 44 of the Revised Draft Registration Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management&#146;s Discussion and Analysis of
Financial Condition and Results of Operations, page 89 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note under Subsequent Events on page <FONT STYLE="white-space:nowrap">F-79</FONT> that on
December&nbsp;5, 2019, the Company granted approximately 49&nbsp;million shares to employees under the Share Award Scheme. On January&nbsp;20, 2020, the Company granted 54&nbsp;million shares to an employee under the Share Award Scheme. Please
provide a forward-looking discussion of the impact of these awards on your results of operations, including quantification of the total amount of compensation expense recognized and the amount you anticipate recognizing in future periods.</B>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that the Company has engaged a third-party appraiser to assist in calculating
the fair value of these awards. The valuation is in process and the preparation of the Company&#146;s audited consolidated financial statements for the year ended December&nbsp;31, 2019 is also in progress. Therefore, the Company will update the
disclosure on discussion of the impact of these awards on the results of operations in the Revised Draft Registration Statement in the next submission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company further advises the Staff that as disclosed under Subsequent Events on page <FONT
STYLE="white-space:nowrap">F-79</FONT> of the Revised Draft Registration Statement, in February 2020, the Company granted five million shares to an employee under the Share Award Scheme. The Company will update the disclosure on discussion of the
impact of the award on the results of operations in the Revised Draft Registration Statement in the next submission as well. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Results of Operations
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Nine Months Ended September&nbsp;30, 2019 Compared to Nine Months Ended September&nbsp;30, 2018, page 101 </U></B></P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Your revised disclosure in response to prior comment 11 addresses the amounts by which average revenues per
Premium Customer and the number of Premium Customers grew. Also, you continue to state that growth in public cloud services revenues and enterprise cloud services revenues was &#147;primarily&#148; driven by these factors. Please clarify the extent
to which revenue growth has been attributable to generating additional revenues from existing customers versus acquiring new customers. In this regard, it appears that existing customers have been the primary driver of revenue growth. As part of
your response, please also explain these dynamics in your discussion of the key factors that affect your results of operations. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that as disclosed in the Revised Draft Registration Statement, the Company&#146;s ability to retain
existing customers and acquire new customers has been and will continue to affect its business, financial condition, results of operations and prospects. As discussed in details in &#147;Management&#146;s Discussion and Analysis of Financial
Condition and Results of Operations &#151; Result of Operations&#148; of the Revised Draft Registration Statement: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">For the revenue growth in the Company&#146;s public cloud services in 2017 and 2018, and the nine months ended
September&nbsp;30, 2018 and 2019, revenues generated from existing customers was the primary driver, while revenues generated from new customers was a driver to a lesser extent. This was primarily because during the years of operation, the Company
has amassed a large, premium and diversified customer base for public cloud services and has fostered strong loyalty and captured cross-selling opportunities with existing customers. </P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">For the revenue growth in the Company&#146;s enterprise cloud services in 2017 and 2018 and the nine months
ended September&nbsp;30, 2018 and 2019, revenues generated from new customers was the primary driver, while revenues generated from existing customers was a driver to a lesser extent. This was primarily because such business is still in a relatively
early and fast-growing stage and the Company has been able to quickly acquire new customers. The Company believes that in line with the future development and increased penetration of its enterprise cloud services, revenues generated from existing
customers is expected to increase as well and becomes a more attributable factor to the revenue growth in its enterprise cloud services. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosures on pages
91, 101 and 103 of the Revised Draft Registration Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Compensation of Directors and Executive Officers, page 161 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Please disclose compensation information for the fiscal year ended December&nbsp;31, 2019. Refer to Item 6.B
of Form <FONT STYLE="white-space:nowrap">20-F.</FONT> </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that it will
include its audited consolidated financial statements for the year ended December&nbsp;31, 2019 in the next confidential submission, and will disclose the compensation information for the fiscal year ended December&nbsp;31, 2019 in such submission.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Financial Statements </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>1. Organization
and Basis of Presentation, page <FONT STYLE="white-space:nowrap">F-10</FONT> </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to our prior comment 17 and your modification of your statement on page <FONT
STYLE="white-space:nowrap">F-16</FONT> with the word &#147;additional.&#148; However, given that the contractually required amount is unlimited financial support, the two statements appear to continue to contradict each other. Please revise
accordingly. </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the referenced disclosures on pages <FONT
STYLE="white-space:nowrap">F-16</FONT> and <FONT STYLE="white-space:nowrap">F-63</FONT> of the Revised Draft Registration Statement. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comment 18 related to the application of the related-party tiebreaker under
ASC 810. Please explain to us how the Company does not meet the criteria under ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">810-10-25-38A</FONT></FONT></FONT> on a standalone basis to be the
primary beneficiary, such that the related party tiebreaker would not have to be applied. Include in your response your consideration of ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">810-10-25-42</FONT></FONT></FONT> with respect to indirect interests held through your related party affiliate. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that in December 2019, to shift the primary beneficiary of the VIEs from the WFOE to the Company,
the shareholders and the Company&#146;s board of directors resolved that the rights under the shareholder voting right trust agreements and the exclusive purchase option agreements were assigned to the board of directors of the Company or any
officer authorized by the board of director. In addition, the Company entered into a financial support undertaking letter with the VIEs pursuant to which the Company is obligated and hereby undertakes to provide unlimited financial support to the
VIEs, to the extent permissible under the applicable PRC laws and regulations, whether or not any such operational loss is actually incurred. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Based on the above, the Company <U>does meet</U> the criteria under ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">810-10-25-38A</FONT></FONT></FONT> on a standalone basis to be the primary beneficiary of the VIEs, such that the related party tiebreaker would not have to
be applied because it has both (a)&nbsp;the power to direct the activities of a VIEs that most significantly impact the VIEs&#146; economic performance as the single decision maker, and (b)&nbsp;the obligation to absorb losses of the VIEs that could
potentially be significant to the VIEs. Therefore, the Company does not need to further evaluate whether it meets the benefits criterion under ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">810-10-25-42.</FONT></FONT></FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The
Company also respectfully advises the Staff that if it were to consider ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">810-10-25-42</FONT></FONT></FONT> with respect to indirect interests held
through its related party affiliate, the Company will arrive at the same conclusion that the Company meets the benefits criterion (considering both direct and indirect interests) and is the primary beneficiary of the VIEs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comments, the Company has also revised the referenced disclosures on pages
<FONT STYLE="white-space:nowrap">F-11,</FONT> <FONT STYLE="white-space:nowrap">F-14</FONT> and <FONT STYLE="white-space:nowrap">F-61</FONT> of the Revised Draft Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you have any questions regarding this submission, please contact Li He at +852 2533-3306
(li.he@davispolk.com) or Ran Li at +86 10 8567-5013 (ran.li@davispolk.com). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Thank you again for your time and attention. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">&nbsp;Yours sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Li He</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Li He</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="11%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">cc:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Mr.&nbsp;Yulin Wang, Chief Executive Officer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Kingsoft Cloud Holdings Limited</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Mr.&nbsp;David&nbsp;T. Zhang, Esq., Partner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Mr.&nbsp;Steve Lin, Esq., Partner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Kirkland&nbsp;&amp; Ellis International LLP</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Mr.&nbsp;Raymond Wong, Partner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Ms.&nbsp;Grace Lim, Partner</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Ernst&nbsp;&amp; Young Hua Ming LLP</B></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

</DIV></Center>

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