EX-4.25




 Exhibit 4.25 

STRATEGIC COOPERATION AND ANTI-DILUTION FRAMEWORK AGREEMENT 

BETWEEN XIAOMI CORPORATION AND KINGSOFT CLOUD 

This Strategic Cooperation and Anti-Dilution Framework Agreement (the “Agreement”) dated January 29, 2022, is made and entered
into by and between the following parties in the People’s Republic of China (“PRC”, for the purpose of the Agreement, excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan): 

 

							
	 Party A
	  	 	:	 	  	Kingsoft Cloud Holdings Limited (NASDAQ Stock Code: KC, hereinafter referred to as “Kingsoft Cloud”. Kingsoft Cloud, the subsidiaries included in its consolidated financial statements, and affiliated entities,
collectively referred to as “Kingsoft Cloud Group”)
			
	 Address
	  	 	:	 	  	Building E, Xiaomi Science and Technology Park, An Ning Zhuang Road, Haidian District, Beijing, the PRC
			
	 Party B
	  	 	:	 	  	Xiaomi Corporation (HKEX Stock Code: 01810, hereinafter referred to as “Xiaomi”; Xiaomi, the subsidiaries included in its consolidated financial statements, and affiliated entities, collectively referred to as
“Xiaomi Corporation”)
			
	 Address
	  	 	:	 	  	Xiaomi Science and Technology Park, An Ning Zhuang Road, Haidian District, Beijing, the PRC

 WHEREAS: 
 1. Xiaomi
Corporation and Kingsoft Cloud Group have established an in-depth partnership in cloud services, resources sharing and others. For the purpose of further clarifying, standardizing and deepening such
cooperation and establishing long-term and constructive partnership, both Parties, adhering to the principles of fairness, impartiality and integrity, unanimously agree to establish a strategic cooperative relationship and carry out all-round cooperation in potential fields in order to consolidate and expand the advantages in their respective fields, and hereby enter into the Agreement. 

2. The Agreement is a framework agreement, and both Parties may execute and perform the Agreement through their respective relevant entities to implement
specific service details according to actual business needs. 
 3. In the Agreement, the percentage of Xiaomi’s equity interest in Kingsoft Cloud is
calculated as follows: 
  

	 	•	 	 The numerator is the total number of ordinary shares and American depositary receipts (“ADRs”) of
Kingsoft Cloud held by Xiaomi as of the date of the Agreement; 


  

	 	•	 	 The denominator is the total number of shares issued by Kingsoft Cloud as of the date of the Agreement, which is
the total issued shares (including ordinary shares and ADRs) listed in the Register of Members of Kingsoft Cloud on the date of this Agreement. 



4. As of the date of the Agreement, the total number of ordinary shares and ADRs of Kingsoft Cloud held by Xiaomi is equivalent to 449,701,000 ordinary
shares. 
 Now, THEREFORE, in accordance with the provisions of the Civil Code of the People’s Republic of China and other relevant laws and
regulations, both Parties have entered into the Agreement through friendly negotiations in order to clarify their rights and obligations. Party A and Party B are herein each referred to as a “Party” and collectively the
“Parties”. The details are as follows: 
 Article 1 Details of Strategic Cooperation 

1.1 Purchase of products, services and solutions 

1.1.1 In light of the principle of fairness, impartiality and integrity, both Parties unanimously agree to establish a strategic partnership
with respect to the cloud business. On the premise of complying with listing rules of the places where the relevant securities are listed, the respective applicable corporate governance documents (articles of association, shareholder agreements,
etc.), transaction norms, internal procurement/transaction processes of the Parties, Xiaomi Corporation gives priority to the products, services and solutions provided by Kingsoft Cloud Group when purchasing cloud and relevant information system
products, services and solutions. Both Parties acknowledge that Xiaomi Corporation will make purchases according to the Purchase Contract subsequently signed by both Parties, where the prices will be fully referred to the quality and prices
of similar services and products provided by independent third parties, and shall be fair and reasonable, and in line with the fair market prices. 











 1.1.2 The potential priority areas of cooperation between the Parties shall include, without
limitation to: 
 (1) Products and services for cloud computing and cloud storage: 

(a) Kingsoft Cloud Group will give priority to Xiaomi Corporation in offering cloud storage and cloud computing services, exert its best
commercial efforts to guarantee the steadiness and sustainability of the service, and provide the service at a reasonable rate determined in the following manners: 

(i) based on the methods of determining fair market price in the cloud storage and cloud computing industry; 

(ii) based on the total cost incurred in connection with provision of such service plus a reasonable profit; and 

(iii) By full reference to the price and/or reasonable profit of independent third parties. 

(b) Subject to Kingsoft Cloud Group providing the cloud storage and cloud computing services at a reasonable price to Xiaomi Corporation,
Xiaomi Corporation shall give priority to purchasing services from Kingsoft Cloud and shall guarantee that 70% of the cloud storage and cloud computing services used in its MIUI image storage business is from Kingsoft Cloud. 

(2) Information system service (IT service) (ERP and non-ERP service); 

(3) Cloud products and services related to IoT business; 

(4) Cloud products and services related to overseas business; 

(5) Cloud products and services related to Xiaomi automobiles business, and 

(6) Other possible areas of cooperation to be subsequently confirmed by the Parties. 

1.2 Resources sharing 
 1.2.1 The Parties agree
to make full use of the advantageous resources of both Parties and prioritize to cooperate with the other Party under the same terms and conditions. 

1.2.2 Potential areas of cooperation between the Parties include but are not limited to: 

(1) Integration of solutions: Xiaomi Corporation and Kingsoft Cloud Group shall, reserve certain business development and technical resources
to form an integrated solution for integrating the enterprise service capacity of the Parties, and to conduct substantial discussion, analysis and development on the joint development and contract execution with corporate clients; 

(2) Client referral: Xiaomi Corporation shall, when referring to any cloud and related information technology products, services and solutions
to its customers and partners in its ecological chain, give priority to the products, services and solutions of Kingsoft Could Group under the same conditions, and vice versa; and 

(3) Sharing other resources. 

1.2.3 The Parties shall, based on this Agreement, explore more cooperation models in the cloud industry, enter into further negotiations on the
details of implementation, and enter into specific implementation agreements separately based on the cooperation details set forth above. The execution of specific implementation agreements entered into between the Parties shall be subject to the
applicable provisions of the listing rules of the place where the relevant securities are listed, and the necessary approval process in accordance with the entities’ applicable corporate governance documents (articles of association,
shareholder agreements, etc.), listing rules, transaction norms, internal procurement/transaction procedures. 
 1.2.4 Xiaomi Corporation
undertakes to support the execution and performance of the relevant agreements to the extent that it can exercise its voting right. 











 Article 2 Pricing Arrangement 

2.1 With respect to the details of the strategic cooperation between the Parties hereunder, the Parties shall make reference to the quality of similar services
and products provided by independent third parties and applicable historical prices in terms of pricing so as to ensure that they are fair and reasonable, in line with fair market prices, determined fairly and reasonably through friendly
negotiations, and will be in the best interests of the respective shareholders of the Xiaomi Corporation and Kingsoft Cloud Group. Such product prices and service fees shall be no higher than the prices on which the service provider relies to
provide similar services to independent third parties, thereby ensuring that the terms and conditions are fair and reasonable. 
 2.2 The specific pricing
arrangement and the amount of the service fees for the next three years shall be subject to the agreements that may be entered into by both Parties through their respective entities in accordance with the principles set forth herein, if any, based
on actual business needs. 
 Article 3 Anti-dilution Rights 

3.1 For the purpose of strengthening the strategic cooperation between the two Parties and implementing the aforesaid strategic partnership, Kingsoft Cloud
undertakes to grant Xiaomi Corporation anti-dilution rights during the term of the Agreement (as defined in Section 4.1 below), unless otherwise required for regulatory reasons. Xiaomi shall have rights to purchase a Pro Rata Share (as defined
in Section 3.4 below) in the allotment and issuance of New Securities (as defined in Section 3.5 below) of Kingsoft Cloud such that, following the completion of the relevant allotment and issuance, the percentage of Xiaomi’s
shareholding in Kingsoft Cloud shall be no less than the percentage of Xiaomi’s shareholding in Kingsoft Cloud (including ordinary shares and ordinary shares equivalent to ADRs) as of the date of the Agreement. Specifically, Kingsoft Cloud
agrees that, in accordance with applicable domestic and international laws and regulations, in the event the Company proposes to undertake any allotment and issuance of New Securities in a single transaction or a series of transactions, directly or
indirectly, including in both public and private offerings or placements of securities (including, without limitation, a listing on the Main Board of the Stock Exchange of Hong Kong), during the term of the Agreement, then Kingsoft Cloud undertakes
that, it shall not undertake such allotment and issuance of New Securities unless Kingsoft Cloud delivers a Participation Notice (as defined below) to Xiaomi and complies with the provisions set forth in Section 3.3 of the Agreement. The
Parties acknowledge that Xiaomi shall have the right to designate its affiliated entities (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, hereinafter referred to as the “Hong Kong
Listing Rules”) to exercise such anti-dilution rights. 
 3.2 Participation Notice. The Parties agree that prior to the allotment and
issuance of any New Securities by Kingsoft Cloud, Kingsoft Cloud shall notify Xiaomi in writing of its proposed offering of New Securities (the “Participation Notice”), describing the amount and type of New Securities, the price,
price range or pricing mechanism (as applicable and as practicable) and the terms upon which Kingsoft Cloud proposes to issue such New Securities, and Xiaomi’s Pro Rata Share (as defined below) of such New Securities (as determined in
accordance with Section 3.4). Kingsoft Cloud shall provide such Participation Notice to Xiaomi without delay as applicable and practicable. Such Participation Notice shall be delivered by Kingsoft Cloud to Xiaomi no later than forty
(40) days prior to the date on which Kingsoft Cloud enters into the definitive agreement with respect to the allotment and issuance of the New Securities (i.e. the Hong Kong Underwriting Agreement), unless the timing of such Notice may be
otherwise agreed upon by the Parties through friendly negotiations. 
 3.3 Exercise of anti-dilution rights. The Parties agree that during the term
of the Agreement (as defined in Section 4.1 hereof), Kingsoft Cloud grants anti-dilution rights to Xiaomi in connection with the allotment and issuance of New Securities of Kingsoft Cloud. The specific arrangements for the exercise of the
anti-dilution rights are as follows: 
 3.3.1 The Parties agree that Xiaomi shall, upon receipt of any such Participation Notice, notify
Kingsoft Cloud in writing without delay (the “Exercise Notice”) and state therein the quantity of New Securities to be purchased (which shall not exceed the Pro Rata Share of Xiaomi or its designated entity). Provided that
the final number of New Securities issued does not exceed the quantity set forth in the Participation Notice and Xiaomi has given an Exercise Notice, Xiaomi (or the entity it designates) shall irrevocably elect in writing to purchase the number of
such New Securities as set forth in the Exercise Notice in accordance with the pricing mechanism and the terms and conditions thereof stipulated in the Participation Notice. Pursuant to Article 3 hereof, the price payable for subscription for any
New Securities shall be equal to the price offered to and payable by all other investors participating in such offering, and such subscription shall be based on the same terms or conditions offered to and obtained by all other investors
participating in such offering. 











 3.3.2 The Parties agree that in the event Xiaomi fails to deliver an Exercise Notice in
writing to so elect to purchase any of its Pro Rata Share of New Securities pursuant to Section 3.3 hereof within the time limit of six (6) business days following Kingsoft Cloud’s Participation Notice, Xiaomi shall be deemed
to have forfeited and waived any right to purchase any New Securities held on such Pro Rata Share basis under Section 3.1 hereof on that occasion. Nevertheless, it shall not be deemed to forfeit or waive any right with respect to any
future issuance of New Securities under this Agreement. Where there is a practical need, Xiaomi may give a written notice to Kingsoft Cloud requesting an extension of such time limit, which shall not be unreasonably withheld by Kingsoft Cloud,
provided that such Exercise Notice is given no later than five (5) business days prior to Kingsoft Cloud entering into the definitive agreement with respect to the allotment and issuance of the New Securities. 

3.3.3 The Parties agree that, notwithstanding anything to the contrary in Section 4.3 of the Agreement, any purchase by Xiaomi of its Pro
Rata Share of any New Securities must be made in compliance with any applicable domestic and international laws, rules and regulations (including stock exchange rules), and any internal policies and procedures of the Parties. 

3.3.4 If the exercise of the anti-dilution rights by Xiaomi triggers Xiaomi’s obligation to obtain shareholders’ approval under the
Hong Kong Listing Rules, the Parties shall separately negotiate the exercise of Section 3.3 herein. The Parties may, upon negotiation, adjust the relevant period by agreement in order to meet the requirement for Xiaomi to obtain
shareholders’ approval, provided that such relevant approval of independent shareholders’ meeting must be obtained three (3) business days prior to Kingsoft Cloud entering into the definitive agreement with respect to the allotment
and issuance of the New Securities. Failure to do so shall result in Xiaomi being deemed to have forfeited and waived any right to purchase a pro rata share of the New Securities pursuant to Section 3.1 hereof. 

3.4 Pro rata share. For the purposes of the Agreement, Xiaomi’s “Pro Rata Share” shall be equal to (i) the total number of
shares issued by Kingsoft Cloud immediately after the issuance of New Securities, plus any equity securities issued or issuable upon exercise of all pre-existing anti-dilution rights or other similar rights to
obtain additional equity securities in connection with the issuance of the New Securities, multiplied by (ii) the percentage of equity interests (including ordinary shares and ADRs) held by Xiaomi in Kingsoft Cloud as of the date of the
Agreement; less the number of shares (including ordinary shares and ADRs) held by Xiaomi in Kingsoft Cloud immediately prior to the issuance of the New Securities. For the avoidance of doubt, rounding is also required to avoid fractional shares
regarding such calculations. 
 3.5 For the purposes of the Agreement, “New Securities” shall refer to any equity securities or convertible
securities (including ordinary shares, ADRs or any other equity securities) sold in any transaction (including but not limited to a public offering in connection with the listing of Kingsoft Cloud on the Main Board of the Stock Exchange of Hong
Kong) after the date of the Agreement, but excluding: 
 3.5.1 any options, grant rights, awards, restricted shares or any other share-based
awards issued or issuable under any employee equity incentive plan (the “Company Equity Incentive”) approved by the Board of Directors of Kingsoft Cloud (the “Board”), and any equity securities issuable upon
exercise, vesting or conversion of any company equity awards; 
 3.5.2 any equity securities issued pursuant to the cancelation or exchange
of any ADRs of Kingsoft Cloud by the holders thereof; 
 3.5.3 any equity securities issued pursuant to any acquisition of any entity through
a merger, acquisition, purchase of substantially all of the assets of such entity, reorganization or similar transaction, in each case, as approved by the Board; 

3.5.4 any equity securities issued in connection with any share split, share division, share dividend or distribution, reclassification or
other similar event as approved by the Board; and 
 3.5.5 any other equity securities issued upon the conversion, exchange or exercise of
any securities of Kingsoft Cloud outstanding as of the date of this Agreement or issued subsequent to the date hereof. 











 3.6 The Parties acknowledge that the anti-dilution rights in this section have not been taken into
consideration in the specific pricing arrangements and the determination of the maximum amount of the service fees for the next three years under the Strategic Cooperation Framework Agreement as set forth in Article 1 hereof between Kingsoft Cloud
and Xiaomi Corporation. The Parties acknowledge that the service fees payable by Kingsoft Cloud Group to Xiaomi Corporation and the pricing arrangements hereunder shall be governed by the relevant provisions in Article 2 hereof. 

Article 4 Term, Performance and Termination of the Agreement 

4.1 The Parties agree that the Agreement shall take effect upon signing by the authorized representatives of the Parties. The term of the Agreement shall be
valid from effective date to December 31, 2024 (the “Term”). Subject to the Agreement complying with relevant laws and regulations and listing rules, the Parties will review and decide on the renewal of the cooperation two
(2) months prior to the expiry of the Term. The Agreement may be renewed for three (3) years upon agreement between the Parties and subject to relevant approval procedures. 

4.2 The Parties agree that they will explore additional procurement and partnership models in potential areas of cooperation during the Term of the Agreement,
and negotiate and implement the details of the cooperation subject to applicable corporate governance documents (articles of association, shareholder agreements, etc.), listing rules, transaction norms, and internal procurement/transaction
procedures. 
 4.3 The Parties agree that during the cooperation period, both Parties may hold communication meetings regularly or irregularly and establish
a good communication mechanism to ensure timeliness of service and continuous improvement and optimization of business. 
 4.4 The Parties agree that if any
provision under the Agreement is ruled to be, or is deemed by the applicable entity’s regulatory authorities (including, without limitation, any government body, any applicable stock exchange (including those in connection with IPO)) to be,
inconsistent with the laws, regulations and listing requirements or rules governing such applicable entity (“Regulatory Reasons”), the Parties shall amend the provision of the Agreement through negotiations to ensure its compliance
with the requirements of the regulatory authorities. If some terms of the Agreement are terminated for any Regulatory Reason (e.g., Article 3 Anti-Dilution Rights), the Parties shall resolve with respect to the other terms of the Agreement through
separate negotiation. 
 4.5 The Parties agree that if either Party breaches any provision of the Agreement (the “Breaching Party”), the
other Party (the “Non-breaching Party”) may notify the Breaching Party in writing that it has committed a breach and require the Breaching Party to make remedies within a specified reasonable
period of time. If the Breaching Party fails to remedy such breach within the aforementioned period, the Non-breaching Party is entitled to terminate the Agreement immediately. The Non-breaching Party reserves the right to recover compensation and any other legally permissible claims against the Breaching Party. 

4.6 The Parties agree that, termination of this Agreement shall be without prejudice to the rights or obligations of either Party already accrued pursuant to
this Agreement. 
 Article 5 Representations and Warranties of the Parties 

5.1 Both Parties are duly incorporated and validly existing under the laws of the place of incorporation. 

5.2 The Parties hold the necessary licenses, permits, registrations, certificates, and other qualifications and approvals, whether domestic or overseas, to
provide the services hereunder. 
 5.3 The Parties have taken all required actions and (except as otherwise expressly provided herein) obtained all
consents, approvals, authorizations and permits necessary to enter into the Agreement. The execution of the Agreement shall not violate (i) the articles of association of the Parties, (ii) any other agreements or obligations of the
Parties, or (iii) any laws, regulations or ordinances in force of the PRC or other relevant jurisdictions. Their representatives who sign the Agreement have been fully authorized to sign the Agreement. 

5.4 The Parties undertake to comply with the applicable listing rules and other requirements of the applicable entities’ regulatory authorities, as well
as the applicable laws and regulations both within and outside China as amended and updated from time to time for the purpose of the transactions hereunder. 











 5.5 Each Party undertakes to procure its subsidiaries to enter into specific implementation agreements with
the other Party or its subsidiaries pursuant to this Agreement, and to procure its subsidiaries to take or do any act or thing or refrain from conducting anything as necessary for them to properly perform their obligations hereunder. 

5.6 One Party undertakes to the other Party to provide sufficient information and reasonable assistance to the other Party and the independent non-executive directors of the other Party and/or the independent financial adviser, auditor and legal adviser appointed by the other Party in order to ensure that the other Party is able to make the relevant
filings and disclosures (if required) in respect of the transactions hereunder in accordance with the applicable laws and regulations both within and outside China, applicable listing rules, and other requirements of the applicable entities’
regulatory authorities. 
 Article 6 Force Majeure 
 6.1
In the event that either Party fails to perform its obligations hereunder in whole or in part due to a force majeure event, performance of such obligations shall be suspended for the period of time during which the force majeure event hinders its
performance. A force majeure event shall mean any event which is beyond the reasonable control of the affected Party, could not have been foreseen or, if foreseen, could not have been avoided or overcome by such Party, and occurs after the date of
the Agreement and makes performance of the Agreement in whole or in part by such Party objectively impossible or impracticable (including, but not limited to, failure to perform at a reasonable cost). Such events include, but are not limited to,
floods, fires, droughts, windstorms, earthquakes and other natural disasters, traffic accidents, strikes, turmoil, riots, and wars (regardless of whether war is declared), and acts and omissions of government authorities. 

6.2 The Party claiming to be affected by the force majeure event shall notify the other Party of the occurrence of the force majeure event in writing within
the shortest possible time and provide the other Party with appropriate evidence of such force majeure event and its duration by courier, registered mail or facsimile within fifteen days of the occurrence of such force majeure event. The Party
claiming that a force majeure event makes its performance of the Agreement objectively impossible or impractical shall be obligated to make all reasonable efforts to eliminate or mitigate the effects of such force majeure event. 

6.3 In the event of a force majeure event, the Parties shall promptly decide how to implement the Agreement through friendly negotiations. Upon termination or
elimination of the force majeure event or its effects, the Parties shall immediately resume performance of their respective obligations hereunder. 

Article 7 Information Disclosure and Confidentiality 
 7.1
Neither Party shall make any disclosure of information (including but not limited to announcements, notices and circulars) in connection with the matters hereof without the prior written consent of the other Party, except where such disclosure is
made in accordance with the laws of the PRC or the regulations of the China Securities Regulatory Commission, the Stock Exchange of Hong Kong, the Securities and Futures Commission of Hong Kong or any other relevant regulations. 

7.2 Both Parties shall be obligated to keep confidential any trade secrets of the other Party known hereunder, and shall not disclose them to any third party
without the written consent of the other Party, except as required by laws and regulations or by the stock exchanges where the shares of both Parties and their affiliates are listed or by relevant laws and regulations. Either Party violating the
provisions of this Article shall fully compensate the other Party for all direct and indirect losses incurred therefrom. 
 7.3 Upon termination of the
Agreement, the Parties shall continue to be bound by the confidentiality obligations under this Article. 
 Article 8 Notice 

8.1 Notices or other communications made by a Party pursuant to the Agreement shall be in writing and in the Chinese language, and shall be delivered by hand
or registered mail to the address designated by the other Party. The date on which the notice is deemed to have been validly made shall be determined in accordance with the following provisions: 

8.1.1 A notice delivered by hand shall be deemed effective on the date it is signed for by the person designated by the other Party delivered
to by hand; 
 8.1.2 Notices sent by registered mail shall be deemed valid on the fifth (5th) day (or the next business day if the last day
falls on a Saturday, Sunday or legal holiday) after postage is paid (as determined by the postmark date); 











 8.1.3 The mailing addresses of both Parties are as follows: 

Party A: Kingsoft Cloud Holdings Limited 

Contact: Wang Yi 
 Address:
Building E, Xiaomi Science and Technology Park, An Ning Zhuang Road, Haidian District, Beijing, the PRC 
 Party B: Xiaomi 

Contact: Liu Zhen 
 Address:
Xiaomi Science and Technology Park, An Ning Zhuang Road, Haidian District, Beijing, the PRC 
 8.2 If one Party changes its mailing address, it shall notify
the other Party in writing of such change without delay as provided in this Article. 
 Article 9 Applicable Laws and Dispute Resolution 

9.1 The Agreement shall be governed by and construed in accordance with the laws of the PRC. 

9.2 Any dispute arising out of or in connection with the Agreement shall be resolved by the Parties at their own discretion through friendly negotiations. If
no mutually acceptable conclusion is reached upon negotiations within thirty (30) days, either Party may file an application with the Beijing Arbitration Commission. According to the arbitration rules of the Commission, the arbitration
proceeding shall take place in Beijing in Chinese. The arbitral award shall be final and binding on both Parties. 
 Article 10 Miscellaneous 

10.1 The Parties agree to separately bear all relevant costs and expenses arising from the execution of the Agreement in accordance with the relevant Chinese
laws. In the absence of legal provisions, such costs and expenses shall be shared equally between both Parties. 
 10.2 Except with the prior written
consent of one Party hereto, the other Party hereto is prohibited from assigning its rights and obligations hereunder. 
 10.3 The Agreement and the related
documents referred to herein shall constitute the entire agreement and understanding between the Parties with respect to all matters stated herein, and shall supersede all prior agreements, contracts, understandings and communications, whether oral
or written, between the Parties with respect to all matters described herein. 
 10.4 Unless otherwise provided, one Party’s failure to exercise or
delay in exercising its rights, powers or privileges hereunder shall not constitute a waiver of such rights, powers or privileges. Any single or partial exercise of such rights, powers, or privileges shall not preclude the exercise of any other
rights, powers, or privileges by such Party. 
 10.5 The Appendices hereto, if any, are an integral part of the Agreement and shall be as equally binding as
the Agreement. 
 10.6 The Agreement is made in two originals, one for each Party, and both have the same legal effect. 

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 (This page is intentionally left blank as the signature and seal page of the Strategic Cooperation and
Anti-Dilution Framework Agreement between Xiaomi Corporation and Kingsoft Cloud) 
 Party A: 

Kingsoft Cloud Holdings Limited 
  

                          
                                   

Authorized representative (Signature): 
 The
signature and seal page of the Strategic Cooperation and Anti-Dilution Framework Agreement between Xiaomi Corporation and Kingsoft Cloud 











 (This page is intentionally left blank as the signature and seal page of the Strategic Cooperation and
Anti-Dilution Framework Agreement between Xiaomi Corporation and Kingsoft Cloud) 
 Party B: 

Xiaomi Corporation 
  

                          
                           

Authorized representative (Signature): 
 The
signature and seal page of the Strategic Cooperation and Anti-Dilution Framework Agreement between Xiaomi Corporation and Kingsoft Cloud