Kingsoft Corporation (03888.HK) Hot Stock Analysis: Share Repurchase and Subsidiary Equity Incentive Drive Short-Term Uptrend

1. Stock Basic Overview
   : Kingsoft Corporation (03888.HK) belongs to the software/technology sector. As of December 30, 2025, based on the repurchase price range (HKD 27.88-28.16) on December 29 and a 1.15% increase, the estimated price is around HKD 28.30 [1][0].
2. Hot Stock Drivers
   :
   • Share Repurchase
     : On December 29, the company repurchased 713,600 shares, with a total expenditure of approximately HK$20 million, conveying management’s confidence in the company’s value to the market [1].
   • Subsidiary Equity Incentive
     : Its holding subsidiary Beijing Kingsoft Office Software (688111.SS) granted 669,000 restricted shares to 47 core employees at an grant price of RMB 150.56 per share (the closing price on that day was RMB 300.08 per share). This aims to align the interests of core talents and indirectly benefit the parent company [2].
3. Price and Volume Performance
   : On December 30, the stock price rose by 1.15%; over the past year (as of December 23), it fell by 15.5% [3]. The repurchase activity on December 29 involved significant trading volume, attracting investor attention. The repurchase price range (HKD 27.88-28.16) forms a recent support level [1][0].

1. Signal Linkage Effect
   : The simultaneous launch of share repurchase and subsidiary equity incentive has strengthened the market’s confidence in Kingsoft Corporation’s overall strategy and business prospects, forming a combined force for short-term stock price uptrend.
2. Subsidiary Valuation Transmission
   : As a core asset, Beijing Kingsoft Office Software’s equity incentive plan reflects the subsidiary’s confidence in future development, and this optimistic sentiment is being transmitted to the parent company’s stock price.
3. Support Level Strengthening
   : The repurchase price range has become a recent support level, indicating management’s recognition of the investment value of the current stock price and providing a certain bottom guarantee for the short-term stock price [1][0].

• Opportunities
  : Management’s active repurchase behavior and the subsidiary’s equity incentive plan bring upward momentum to the short-term stock price; if the subsidiary’s business continues to grow, it will benefit the parent company’s performance in the long term.
• Risks
  : The stock price fell by 15.5% over the past year, showing historical volatility [3]; the software industry is highly competitive, requiring continuous innovation to maintain competitiveness; if the subsidiary’s equity incentive is fully exercised, it may lead to slight share dilution [2].
• Priority Assessment
  : Short-term opportunities (upward momentum of stock price) have higher priority, but attention should be paid to industry competition and long-term volatility risks.

Kingsoft Corporation (03888.HK) became a hot stock in Hong Kong on December 30, 2025, due to share repurchase and subsidiary equity incentive, rising by 1.15% as of that day. Management conveyed confidence in value through repurchase, and the subsidiary’s equity incentive binds core talents; both have jointly driven the market’s positive response. Investors should pay attention to the support role of the repurchase price range (HKD 27.88-28.16), while noting industry competition and historical volatility risks.