Kingsoft Corporation (03888.HK) Market Performance and Hot Stock Analysis on December 29, 2025

1. Basic Stock Situation and Market Environment
   : Kingsoft Corporation (03888.HK) is a software and IT services company listed in Hong Kong, with main businesses including WPS office software and gaming [2]. The event occurred on December 29, 2025, the first trading day after the Hong Kong market’s Christmas holidays [3]. On that day, the tech sector rebounded overall, and the stock was active due to this seasonal momentum.

2. Price and Trading Analysis
   : As of the event time, the stock price was HK$28.42, with a daily increase of 0.57% [1]. From a historical price perspective, the current price is close to the 52-week low (HK$27.24), located in the low range of the 52-week price interval (HK$27.24-HK$47.50) [1]. The support level is HK$27.24 (52-week low), and the resistance level is HK$32.84 (250-day moving average) [3].

3. Speculation on Reasons for Being a Hot Stock
   : The main driving factors include the overall rebound sentiment of the Hong Kong market after the holiday reopening, and the company’s recent large-scale share repurchase operation (spent approximately HK$1.99981 billion to repurchase 71.24 million shares on December 16) [2].

4. Fundamentals and Risk Factors
   : The company’s 2025 Q3 financial report performed poorly, with revenue down 17% YoY to RMB 24.19 billion and net profit down 48.5% YoY to RMB 2.13 billion [2], which is the main negative catalyst. Although the current price has rebounded, attention should be paid to the business pressure that this financial report performance may reflect.

• Kingsoft’s current price is at a 52-week low, combined with a TTM P/E ratio of around 17x [1], which is relatively cheap from a valuation perspective, but needs to be judged comprehensively based on changes in fundamentals.
• The seasonal factor of the Hong Kong market reopening after the holiday provides short-term support for the tech sector, but the negative performance of the company’s Q3 financial report may affect the long-term trend.
• The company’s share repurchase operation shows management’s confidence in the company’s value, but the impact of repurchases on the stock price needs to be evaluated together with overall market sentiment and the company’s business performance.

• Risks
  : Poor Q3 financial report performance (both revenue and net profit declined) [2]; current price is close to the 52-week low, which may reflect sustained bearish sentiment; high volatility after the market reopens.
• Opportunities
  : At a 52-week price low with relatively cheap valuation [1]; the company’s share repurchase operation sends a positive signal [2]; the seasonal momentum of the Hong Kong market’s post-holiday rebound may provide short-term opportunities.

Kingsoft Corporation (03888.HK) became a hot stock on December 29, 2025 (the first trading day after the Hong Kong market’s Christmas holidays), rising 0.57% to HK$28.42, which is in the low range of its 52-week price interval. The main reasons for being a hot stock include the seasonal factor of the market’s post-holiday rebound and the company’s recent large-scale share repurchase. However, attention should be paid to the risk of its poor Q3 2025 financial report performance; the current valuation is relatively cheap but needs to be evaluated comprehensively in combination with fundamentals.