Document:

EX-4.23

 Exhibit 4.23 

CONFIDENTIAL 
 KINGSOFT
CLOUD HOLDINGS LIMITED 
 2021 SHARE INCENTIVE PLAN 

Adopted on November 15, 2021 

1. Purposes of the Plan. The purposes of this Share Incentive Plan (the “Plan”) is to promote the success and enhance
the value of Kingsoft Cloud Holdings Limited, an exempted company formed under the laws of the Cayman Islands (the “Company”), by linking the personal interests of the members of the Board, Employees, and Consultants to those of the
Company’s shareholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to the Company’s shareholders. The Plan is further intended to provide flexibility to the Company in its
ability to motivate, attract, and retain the services of members of the Board, Employees, and Consultants upon whose judgment, interest, and special effort the successful conduct of the Company’s operation is largely dependent. 

2. Definitions. The following definitions shall apply as used herein and in the individual Award Agreements except as defined otherwise
in an individual Award Agreement. In the event a term is separately defined in an individual Award Agreement, such definition shall supersede the definition contained in this Section 2. 

(a) “Administrator” means the Committee or one or more executive officers of the Company to whom the Board or the Committee
may delegate the authority to grant Awards to Participants. 
 (b) “Applicable Laws” means the legal requirements relating
to the Plan and the Awards under applicable corporate, securities, tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market system. 

(c) “Articles” means the memorandum and articles of association of the Company, as may be amended and restated from time to
time. 
 (d) “Award” means the grant of Restricted Shares, Restricted Share Units (together with Restricted Shares,
“Share Awards”), Incentive Share Options, Non-statutory Share Options (together with Incentive Share Options, “Share Options”), or other types of awards or benefit authorized to be granted under the Plan. 

(e) “Award Agreement” means any written agreement, contract, or other instrument or document evidencing an Award, including
through electronic medium. The Award Agreement shall be subject to the terms and conditions of the Plan. 
 (f) “Board”
means the board of directors of the Company. 

  
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 (g) “Change in Control” means the occurrence of any of the following
events: 
 (i) any person becomes the beneficial owner, directly or indirectly, of securities of the Company representing fifty percent (50%)
or more of the total voting power represented by the Company’s then outstanding voting securities; 
 (ii) the consummation of the sale,
lease, or disposition by the Company of all or substantially all of the Company’s assets; or 
 (iii) the consummation of a merger or
consolidation of the Company with any other corporation, other than a merger or consolidation that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or
by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding
immediately after such merger or consolidation. 
 Anything in the foregoing to the contrary notwithstanding, a transaction shall not
constitute a Change in Control if its sole purpose is to change the legal jurisdiction of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the
Company’s securities immediately before such transaction. 
 (h) “Committee” means the Compensation Committee of the
Board. 
 (i) “Consultant” means any person (other than an Employee or a Director, solely with respect to rendering services
in such person’s capacity as an Employee or Director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the Company or such Related Entity. 

(j) “Continuous Service” means that the provision of services to the Company or a Related Entity in any capacity of Employee,
Director or Consultant is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous Service shall be deemed terminated upon the actual cessation of
providing services to the Company or a Related Entity notwithstanding any required notice period that must be fulfilled before a termination as an Employee, Director or Consultant can be effective under Applicable Laws. A Participant’s
Continuous Service shall be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the Participant provides services ceasing to be a Related Entity. Continuous Service shall not be considered
interrupted in the case of (i) any leave of absence approved by the Company or any Related Entity, including sick leave, military leave, or any other personal leave, (ii) transfers among the Company, any Related Entity, or any successor,
in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise
provided in the Award Agreement). 

  
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 (k) “Control” means the possession, direct or indirect, of the power to
direct, or cause the direction of, the management and policies of a person, whether through the ownership of voting securities, by contract or otherwise. 
  

(l) “Director” means a member of the Board or the board of directors of any Related Entity. 

(m) “Disability” means total and permanent physical disability. 

(n) “Employee” means any person, including an officer or Director, who is in the employ of the Company or any Related Entity,
subject to the control and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance. The payment of a Director’s fee by the Company or a Related Entity shall not be sufficient
to constitute “employment” by the Company. 
 (o) “Fair Market Value” means, the closing price of a Share as
stated in the daily quotations sheet of the relevant stock exchange on which the Shares are traded, or if Shares are not so traded, the Fair Market Value as determined by the Administrator in good faith and in its discretion. 

(p) “Group Companies” the Company and/or any of its Subsidiary. 

(q) “Participant” means an Employee, Director or Consultant who receives an Award under the Plan. 

(r) “Ordinary Share” means an ordinary share of the Company, as adjusted in accordance with Section 12 hereof. 

(s) “Plan” means this 2021 Share Incentive Plan, as amended from time to time. 

(t) “Related Entity” means any Subsidiary of the Company and any business, corporation, partnership, limited liability company
or other entity Controlled by the Company or a Subsidiary of the Company. 
 (u) “Subsidiary” means, with respect to a
specific entity, (i) any entity (x) more than fifty percent (50%) of whose shares or other interests entitled to vote in the election of directors or (y) more than a fifty percent (50%) interest in the profits or capital of such
entity are owned or controlled directly or indirectly by the subject entity or through one (1) or more Subsidiaries of the subject entity, (ii) any entity whose assets, or portions thereof, are consolidated with the net earnings of the
subject entity and are recorded on the books of the subject entity for financial reporting purposes in accordance with the applicable accounting standards, or (iii) any entity with respect to which the subject entity has the power to otherwise
direct the business and policies of that entity directly or indirectly through another Subsidiary. 

  
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 3. Shares Subject to the Plan. 

(a) Subject to the provisions of Section 11 below, the maximum aggregate number of Shares which may be issued pursuant to Awards granted
under the Plan shall be no more than 209,216,310 of the Ordinary Shares, proportionally adjusted to reflect any share dividends, share splits, or similar transactions. 

(b) Any Shares covered by an Award (or portion of an Award) which is forfeited, cancelled or expires (whether voluntarily or involuntarily)
shall be deemed not to have been issued for purposes of determining the maximum aggregate number of Shares which may be issued under the Plan. Shares that actually have been issued under the Plan pursuant to an Award shall not be returned to the
Plan and shall not become available for future issuance under the Plan, except that if unvested Shares are forfeited, or repurchased by the Company at the lower of their original purchase price or their Fair Market Value at the time of repurchase,
such Shares shall become available for future grant under the Plan. To the extent not prohibited by the Applicable Law and the listing requirements of the applicable stock exchange or national market system on which the Ordinary Shares are traded,
any Shares covered by an Award which are surrendered (i) in payment of the Award exercise or purchase price or (ii) in satisfaction of tax withholding obligations incident to the exercise of an Award shall be deemed not to have been issued
for purposes of determining the maximum number of Shares which may be issued pursuant to all Awards under the Plan, unless otherwise determined by the Administrator. 

4. Administration of the Plan. 

(a) Plan Administrator. 

(i) Administration. The Plan shall be administered by the Administrator. 

(ii) Administration Errors. In the event an Award is granted in a manner inconsistent with the provisions of this Section 4(a),
such Award shall be presumptively valid as of its grant date to the extent permitted by the Applicable Laws. 
 (b) Powers of the
Administrator. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion to: (i) designate Participants to receive Awards; 

(ii) determine the type or types of Awards to be granted to each Participant; 

(iii) determine the number of Awards to be granted and the number of Shares to which an Award will relate; 

  
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 (iv) determine the terms and conditions of any Award granted pursuant to the Plan,
including, but not limited to, the exercise price, grant price, or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations
or waivers thereof, any provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Administrator in its sole discretion determines; 

(v) determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be
paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 
 (vi) prescribe the form of
each Award Agreement, which need not be identical for each Participant; 
 (vii) decide all other matters that must be determined in
connection with an Award; 
 (viii) establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer
the Plan; 
 (ix) interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and 

(x) make all other decisions and determinations that may be required pursuant to the Plan or as the Administrator deems necessary or advisable
to administer the Plan. 
 (c) Effect of Administrator’s Decision. The Administrator’s interpretation of the Plan, any
Awards granted pursuant to the Plan, any Award Agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all parties. 

(d) Indemnification. To the extent allowable pursuant to Applicable Laws, each member of the Committee or the executive officer of the
Company authorized by the Committee hereunder shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member or executive officer in connection with or
resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her
in satisfaction of judgment in such action, suit, or proceeding against him or her; provided he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on
his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Articles, as a matter of law, or otherwise, or any power that the
Company may have to indemnify them or hold them harmless. 

  
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 5. Eligibility. Persons eligible for the grant of the Awards include Employees,
Consultants, and all members of the Board, or trusts or entities established in connection with any employee benefit plan of the Company (including the Plan) for the benefit of a Participant, as determined by the Administrator. 

6. Terms and Conditions of Awards. 

(a) Types of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or
Consultant that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Restricted Shares, (ii) Restricted Share Units, (iii) Share Options with a fixed or variable exercise
price related to the Fair Market Value of the Shares, which may be amended or adjusted in the absolute discretion of the Administrator, or (iv) other types of shares or other types of awards or benefit authorized to be granted under the Plan.

 (b) Designation of Award. Each Award shall be designated in the Award Agreement. 

(c) Conditions of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of
each Award including, but not limited to, the Award vesting schedule, repurchase provisions, forfeiture provisions, form of payment (cash, Shares, or other consideration) upon settlement of the Award, payment contingencies, and satisfaction of any
performance criteria as specified in the Award Agreement. 
 (d) Acquisitions and Other Transactions. The Administrator may issue
Awards under the Plan in settlement, assumption or substitution for, outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest in another entity or an additional
interest in a Related Entity whether by merger, share purchase, asset purchase or other form of transaction. 
 (e) Term of Award. The
term of each Award shall be the term stated in the Award Agreement. 
 (f) Non-transferability of Awards. Unless otherwise determined
by the Administrator and provided in the applicable Award Agreement, as the same may be amended, no Award shall be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner (whether by operation of law or otherwise) other than
by will or Applicable Laws of descent and distribution or pursuant to a qualified domestic relations order, and shall not be subject to execution, attachment, or similar process. Upon any attempt to pledge, assign, hypothecate, transfer, or
otherwise dispose of any Award or of any right or privilege conferred by this Plan contrary to the provisions hereof, or upon the sale, levy or attachment or similar process upon the rights and privileges conferred by this Plan, such Award shall
thereupon terminate and become null and void. Awards may be exercised during the lifetime of the Participant only by the Participant. 

  
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 (g) Time of Granting Awards. The date of grant of an Award shall for all purposes be
the date on which such Award is deemed to be granted and accepted, or such other date as is determined by the Administrator. 
 7. Terms
and Conditions of Share Awards. 
 (a) Issuance and Restrictions. Share Awards shall be subject to such restrictions on
transferability and other restrictions as the Administrator may impose. These restrictions may lapse separately on in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Administrator determines at
the time of the grant of the Award or thereafter. Unless the Administrator determines otherwise, Share Awards shall be held by the Company as escrow agent until the restrictions on such Share Awards have lapsed. 

(b) Forfeiture and Repurchase. Except as otherwise determined by the Administrator at the time of the grant of the Award or thereafter,
upon termination of the Participant’s Continuous Service during the applicable restriction period, Share Awards that are at that time subject to restrictions shall be forfeited to the Company for no consideration. Notwithstanding the foregoing,
the Administrator may: 
 (i) provide in any Award Agreement that restrictions or forfeiture and repurchase conditions relating to Share
Awards will be waived in whole or in part in the event of terminations resulting from specific causes; and 
 (ii) In other cases waive in
whole or in part restrictions or forfeiture and repurchase conditions relating to Share Awards. 
 (c) Removal of Restrictions. Except
as otherwise provided in the Plan, Share Awards granted shall be released from escrow as soon as practicable after the last day of the period of restriction. The Administrator, in its discretion, may accelerate the time at which any restrictions
shall lapse or be removed. After the restrictions have lapsed, the Shares shall 
 become unrestricted and freely transferable by the
Participant, subject to applicable legal restrictions, any lock-up agreement between the Company and any underwriter or depositary bank in connection with an offering, and the provisions of the Award Agreement, provided however, that unless approved
by the Administrator, the Participant shall not transfer any Shares issued upon the expiration or removal of any restriction imposed on any Restricted Shares, or 

any interest therein, to any person or entity that is a competitor of the Company, as determined by the Administrator in its sole discretion.

 (d) Termination of Service. Unless otherwise provided in the Award Agreement, if a Participant’s Continuous Service terminates
for any reason, the Share Awards granted to such Participant, to the extent not vested, shall terminate upon the Participant’s termination of Continuous Service. The Award Agreement may provide for conditions and other limitations in respect of
the Share Awards granted to a Participant if such Participant’s Continuous Service terminates for any reason. 

  
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 (e) Termination by Death. If the Participant’s employment or service terminates
as a result of death, any distribution or delivery to be made to the Participant under the Award Agreement will be made to the Participant’s designated beneficiary, provided that such beneficiary has been designated prior to the
Participant’s death in a form acceptable to the Committee or, if no such beneficiary has been designated or survives the Participant, the administrator or executor of the Participant’s estate. Any such transferee must furnish to the
Committee with (i) written notice of his or her status as transferee, and (ii) evidence satisfactory to the Committee to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 

8. Terms and Conditions of Share Options. 

(a) Exercise of Share Options. The Share Options may not be exercised until vested pursuant to the applicable Award Agreement. The
Administrator shall determine the time or times at which a Share Option may be exercised in whole or in part, including exercise prior to vesting; provided that the term of any Share Option granted under the Plan shall not exceed ten
(10) years, subject to approval by the Administrator of extension of the exercise period for an Share Option beyond ten (10) years from the date of the grant. The Administrator shall also determine any conditions, if any, that must be
satisfied before all or part of a Share Option may be exercised. Once vested, the vested portion of the Share Option may be exercised in whole or in any part, at any time, subject to the terms of the Plan and the Award Agreement. 

(b) Exercise Price. The exercise price per share subject to an Option shall be determined by the Administrator and set forth in the
Award Agreement and may be a fixed or variable price related to the Fair Market Value of the Shares. The exercise price per Share subject to an Option may be amended or adjusted in the absolute discretion of the Administrator, the determination of
which shall be final, binding and conclusive. For the avoidance of doubt, to the extent not prohibited by applicable laws, rules and regulations, a downward adjustment of the exercise prices of Options mentioned in the preceding sentence shall be
effective without the approval of the Company’s shareholders or the approval of the affected Participants. 
 (c) Transfer
Restrictions. Unless approved by the Administrator, the Participant shall not transfer any Shares issued upon the exercise of any Option, or any interest therein, to any person or entity that is a competitor of the Company, as determined by the
Administrator in its sole discretion. Subject to the prior approval of the Administrator, transfer to one or more natural persons who are the Participant’s family members or entities owned and controlled by the Participant and/or the
Participant’s family members, including but not limited to trusts or other entities whose beneficiaries or beneficial owners are the Participant and/or the Participant’s family members, or to such other persons or entities as may be
expressly approved by the Administrator. The Participant shall give written notice to the Administrator setting forth such desire to transfer, the number of Shares to be transferred, and at least the name and address of the proposed transferee. Upon
receipt of the notice, the Administrator shall (i) have an assignable option to purchase any or all of such Shares, or (ii) approve or disapprove such transfer. 

  
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 (d) Termination of Service. Unless otherwise provided in the Award Agreement, if a
Participant’s Continuous Service terminates for any reason, the Share Options granted to such Participant, to the extent not vested and exercisable on the date of such Participant’s termination of Continuous Service, shall terminate upon
the Participant’s termination of Continuous Service. The Award Agreement may provide for conditions on exercise and other limitations in respect of the Share Options granted to a Participant if such Participant’s Continuous Service
terminates for any reason. 
 (e) Termination by Death. If the Participant’s employment or service terminates as a result of
death, any distribution or delivery to be made to the Participant under the Award Agreement will be made to the Participant’s designated beneficiary, provided that such beneficiary has been designated prior to the Participant’s death in a
form acceptable to the Committee or, if no such beneficiary has been designated or survives the Participant, the administrator or executor of the Participant’s estate. Any such transferee must furnish to the Committee with (i) written
notice of his or her status as transferee, and (ii) evidence satisfactory to the Committee to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 

9. Award Exercise or Purchase Price, Consideration and Taxes. 

(a) Exercise or Purchase Price. The exercise or purchase price, if any, for an Award shall be determined by the Administrator.
Notwithstanding the foregoing provisions of this Section 10(a), in the case of an Award issued pursuant to Section 6(d) above, the exercise or purchase price for the Award shall be determined in accordance with the provisions of the
relevant instrument evidencing the agreement to issue such Award, in each case, the value of the consideration shall not be less than the par value of a Share, unless otherwise permitted by Applicable Laws. 

(b) Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an
Award including the method of payment, shall be determined by the Administrator. 

  
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 (c) Taxes. No Shares shall be delivered under the Plan to any Participant until such
Participant has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall have the authority and the right to deduct or
withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be withheld with respect to any
taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under
an Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares which may be withheld with respect to the issuance, vesting,
exercise or payment of any Award (or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy any income and payroll tax liabilities applicable to the
Participant with respect to the issuance, vesting, exercise or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date of withholding or repurchase
equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for the applicable income and payroll tax purposes that are applicable to such supplemental taxable income. 

10. Exercise of Award. 

(a) Procedure for Exercise; Rights as a Shareholder. 

(i) Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the terms
of the Plan and specified in the Award Agreement. 
 (ii) An Award shall be deemed to be exercised when written notice of such exercise has
been given to the Company in accordance with the terms of the Award by the person entitled to exercise the Award and full payment for the Shares. 

(b) Exercise of Award Following Termination of Continuous Service. 

(i) An Award may be exercised following the termination of a Participant’s Continuous Service only to the extent provided in the Plan or
the Award Agreement. 
 (ii) Where the Plan or the Award Agreement permits a Participant to exercise an Award following the termination of
the Participant’s Continuous Service for a specified period, the Award shall terminate to the extent not exercised on the last day of the specified period or the last day of the original term of the Award, whichever occurs first. 

(c) Exercise in Violation of Applicable Laws. Notwithstanding the foregoing, regardless of whether an Award has otherwise become
exercisable, the Award may not be exercised if the Administrator (in its sole discretion) determines that an exercise could violate any Applicable Laws or any lock-up agreement between the Company and any underwriter or depositary bank in connection
with an offering. 

  
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 (d) Exercise in Violation of applicable policies of the Company. Notwithstanding the
foregoing, regardless of whether an Award has otherwise become exercisable, the Award may not be exercised if the Administrator (in its sole discretion) determines that an exercise could violate any applicable policies of the Company. 

11. Conditions Upon Issuance of Shares. 

(a) Unless otherwise provided in the Plan or the Award Agreement, Shares shall not be issued pursuant to the exercise of an Award unless the
exercise of such Award and the issuance and delivery of such Shares pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the advice of counsel for the Company with respect to such compliance. 

(b) As a condition to the issuance of Shares under of an Award and unless otherwise determined by the Administrator, the Participant shall have
achieved applicable performance targets prior to the date of such exercise. 
 12. Adjustments Upon Changes in Capitalization. Subject
to any requirements of the Articles and applicable laws, the number of Shares covered by each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which
have been returned to the Plan, the exercise or purchase price of each such outstanding Award, the maximum number of Shares with respect to which Awards may be granted to any Participant in any fiscal year of the Company, as well as any other terms
that the Administrator determines require adjustment shall be proportionately adjusted for (i) any increase or decrease in the number of issued Shares resulting from a share split, reverse share split, share dividend, combination or
reclassification of the Shares, or similar transaction affecting the Shares, or (ii) as the Administrator may determine in its discretion, any other transaction with respect to Ordinary Shares including a corporate merger, consolidation,
acquisition of property or equity, separation (including a spin-off or other distribution of shares or property), reorganization, liquidation (whether partial or complete) or any similar transaction. Such adjustment shall be made by the
Administrator and its determination shall be final, binding and conclusive. 
 13. Change in Control. 

(a) In the event that the Company is a party to a Change in Control, or upon a merger or consolidation involving the Company or any other event
with respect to which the Administrator deems it appropriate, in all cases without the consent of the Participant, the Administrator may cause the Award to be: 

(i) assumed by the surviving corporation or its parent; 

(ii) continued by the Company if it is the surviving corporation; 

(iii) accelerated to become vested and exercisable, in full or in part, as the Administrator deems appropriate; 

  
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 (iv) cancelled with or without consideration; or 

(v) exchanged or replaced with a substitute award, in each case with or without additional consideration. 

(b) To the extent not previously exercised, vested or settled, the Awards shall terminate immediately prior to the dissolution or liquidation
of the Company 
 14. Effective Date and Term of Plan. The Plan shall become effective upon the date hereof (the “Effective
Date”). Unless otherwise terminated by the Board or the Committee pursuant to Section 16(a), the Plan shall continue in effect for a term of ten (10) years after the Effective Date. Subject to Applicable Laws, Awards may be
granted under the Plan upon its becoming effective. 
 15. Amendment, Suspension or Termination of the Plan. 

(a) The Administrator may at any time amend, suspend or terminate the Plan, subject to any requirement of the Applicable Laws. 

(b) No Award may be granted during any suspension of the Plan or after termination of the Plan. 

16. Reservation of Shares. 

(a) The Company, during the term of the Plan, will at all times reserve such number of Shares as shall be sufficient to satisfy the
Company’s obligations to deliver Shares pursuant to the requirements of the Plan. 
 (b) The inability of the Company to obtain
authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the
failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 
 17. Legending Share
Certificates. In order to enforce any restrictions imposed upon Shares issued upon the exercise of Awards, the Administrator may cause a legend or legends to be placed on any share certificates representing the Shares, which legend or legends
shall make appropriate reference to the restrictions, including, without limitation, a restriction against sale of the Shares for any period as may be required by Applicable Laws. 

18. No Effect on Terms of Employment/Consulting Relationship. The Plan shall not confer upon any Participant any right with respect to
the Participant’s Continuous Service, nor shall it interfere in any way with his or her right or the right of the Company or any Related Entity to terminate the Participant’s Continuous Service at any time and with or without notice. 

  
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 19. No Effect on Retirement and Other Benefit Plans. Except as specifically provided
in a retirement or other benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement plan of the Company or a Related Entity, and shall not affect
any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation. 

20. Vesting Schedule. The Awards to be issued to any Participant under the Plan shall be subject to the vesting schedule as specified in
the Award Agreement. 
 21. Unfunded Obligation. The Plan is intended to be an “unfunded” plan for incentive compensation.
With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any
Subsidiary of the Company. 
 22. Construction. Captions and titles contained herein are for convenience only and shall not affect the
meaning or interpretation of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive,
unless the context clearly requires otherwise. 
 23. Governing Law. The Plan shall be governed by and construed in accordance with
the laws of the Cayman Islands. 
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 13EX-4.24

 Exhibit 4.24 

STRATEGIC COOPERATION AND ANTI-DILUTION FRAMEWORK AGREEMENT 

BETWEEN KINGSOFT AND KINGSOFT CLOUD 
 This
Strategic Cooperation and Anti-Dilution Framework Agreement (the “Agreement”) dated January 27, 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
	  	 	:	 	  	Kingsoft Corporation Limited (HKEX Stock Code: 03888, hereinafter referred to as “Kingsoft”; Kingsoft, the subsidiaries included in its consolidated financial statements, and affiliated entities, collectively
referred to as “Kingsoft Group”)
			
	 Address
	  	 	:	 	  	Building D, Xiaomi Science and Technology Park, An Ning Zhuang Road, Haidian District, Beijing, the PRC

 WHEREAS: 
 1. Kingsoft
Group 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 Kingsoft’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 Kingsoft 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 Kingsoft is equivalent to 1,423,246,584 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 In compliance herewith and subject to the following premises, Kingsoft undertakes to facilitate Kingsoft Group in negotiating cooperation with Kingsoft
Cloud Group on the products, services and solutions listed in the Potential Areas of Cooperation as described in Section 1.2 of the Agreement as a matter of priority on equal terms and conditions: 

1.1.1 Compliance with the respective applicable corporate governance documents (articles of association, shareholder agreements, etc.),
applicable listing rules, transaction specifications, internal procurement/transaction processes, and public commitments made by respective entities of the Parties; 

 1.1.2 The prices of the services and products provided by Kingsoft Cloud Group will make
full reference to the quality and prices of similar services and products provided by independent third parties in order to ensure fairness and reasonableness, in line with the principle of fair market price and will be in the best interests of the
Parties hereto and their shareholders as a whole; in addition to the aforesaid fair price terms, Kingsoft Cloud Group will also make its best efforts to ensure the quality, stability and sustainability of the services and products provided to
Kingsoft Group; and 
 1.1.3 Kingsoft Cloud Group undertakes to give priority, under the same terms and conditions, to negotiation with the
corresponding entities of Kingsoft Group engaged in such business with respect to the “business areas of Kingsoft Group disclosed in the annual report of Kingsoft”. 
  

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

1.2.1 products and services for cloud computing and cloud storage; 

1.2.2 PaaS, SaaS and other value-added cloud services (e.g. full-stack (including IaaS, PaaS and SaaS) cloud gaming services); 

1.2.3 IT system services (e.g. existing IT system services of WPS and Camelot); 

1.2.4 data center rental; and 

1.2.5 other possible areas of cooperation to be subsequently confirmed by the Parties. 

1.3 Both Parties may reciprocally recommend their products, services and solutions to the relevant customers or partners during business operation under the
same terms and conditions, in addition to the aforesaid potential areas of cooperation. 
 1.4 Where services and products are provided by Kingsoft to
Kingsoft Cloud Group, the Parties will make full reference to the quality and price of similar services offered by independent third parties to ensure that they are fair and reasonable, in line with the principle of fair market price and will be in
the best interests of both Parties hereto and their shareholders as a whole. 
 1.5 The Agreement is a framework agreement, and both Parties may execute and
perform the Agreement through their respective concerned entities to implement specific service details according to actual business needs, provided that the performance of relevant agreements is subject to 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, and public commitments made by them.
Kingsoft and its wholly-owned subsidiaries undertake to support the execution and performance of the relevant agreements to the extent that they can exercise their voting rights. 

Article 2 Licensing Service 
 2.1 Reference is made to the
Trademark Licensing Agreement and the Technology Transfer (Patent Implementation Licensing) Agreement dated December 18, 2019 (collectively, the “License Agreements”) among Kingsoft and Kingsoft Cloud and their
respective subsidiaries. According to the License Agreements, Kingsoft has, through its subsidiaries, licensed Kingsoft Cloud to use six patents owned by Kingsoft (through its subsidiaries), including the systems and methods for synchronizing the
updates of specified files on a priority basis, under a general license in accordance with the specific agreement of the relevant contract. Kingsoft Cloud is entitled to the licenses of implementing such patents and shall pay the corresponding
royalties for the exploitation of such licenses. Additionally, subject to specific contractual agreements, Kingsoft has agreed to license the relevant trademarks which have applied for registration or have been registered by its Group to Kingsoft
Cloud for a certain validity period. 
 2.2 Kingsoft undertakes to properly perform the License Agreements and not to terminate or rescind such License
Agreements without agreed reasons. 
 Article 3 Pricing Arrangement 

3.1 With respect to the details of the strategic cooperation between the Parties hereunder, the Parties shall make reference to the quality and applicable
historical prices of similar services and products provided by independent third parties 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 Parties as a whole. Such 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. 

 3.2 The specific pricing arrangement and the amount of the service fees for the next three years shall be
subject to the agreements to 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 4 Anti-dilution Rights 
 4.1 For the purpose of
strengthening the strategic cooperation between the two Parties and implementing the aforesaid strategic partnership, Kingsoft Cloud undertakes to grant Kingsoft anti-dilution rights during the term of the Agreement (as defined in Section 5.1
below), unless otherwise required for regulatory reasons. Kingsoft shall have rights to purchase a Pro Rata Share (as defined in Section 4.4 below) in the allotment and issuance of new securities (the “New Securities”, as defined in
Section 4.5 below) of Kingsoft Cloud such that, following the completion of the relevant allotment and issuance, the percentage of Kingsoft’s shareholding in Kingsoft Cloud shall be no less than the percentage of Kingsoft’s
shareholding in Kingsoft Cloud (including ordinary shares and 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 Kingsoft and complies with the provisions set forth in Section 4.3 of the Agreement. The Parties acknowledge that Kingsoft 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. 

 

	4.2	 Participation Notice. The Parties agree that prior to the allotment and issuance of any New Securities
by Kingsoft Cloud, Kingsoft Cloud shall give to Kingsoft a written notice of its intention to issue 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 Kingsoft’s Pro Rata Share (as defined below) of such New Securities (as determined in accordance with
Section 4.4). Kingsoft Cloud shall provide such Participation Notice to Kingsoft without delay as applicable and practicable. Such Participation Notice shall be delivered by Kingsoft Cloud to Kingsoft 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. 

  

	4.3	 Exercise of anti-dilution rights. The Parties agree that during the term of the Agreement (as defined in
Section 5.1 hereof), Kingsoft Cloud grants anti-dilution rights to Kingsoft 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: 

  

	 	4.3.1	 The Parties agree that Kingsoft 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 Kingsoft 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 Kingsoft has given an Exercise Notice, Kingsoft 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 4 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. 

	 	4.3.2	 The Parties agree that in the event Kingsoft 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 4.3 hereof within the time limit of six (6) business days following Kingsoft Cloud’s Participation Notice, Kingsoft shall be deemed to have forfeited and
waived any right to purchase any New Securities held on such Pro Rata Share basis under Section 4.1 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, Kingsoft may give 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. 

 

	 	4.3.3	 The Parties agree that, notwithstanding anything to the contrary in Section 4.3 of the Agreement, any
purchase by Kingsoft 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. 

  

	 	4.3.4	 If the exercise of the anti-dilution rights by Kingsoft triggers Kingsoft’s obligation to obtain
shareholders’ approval under the Hong Kong Listing Rules, the Parties shall separately negotiate the exercise of Section 4.3 herein. The Parties may, upon negotiation, adjust the relevant period by agreement in order to meet the
requirement for Kingsoft to obtain shareholders’ approval, provided that such relevant approval of independent shareholders’ meeting shall 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 Kingsoft being deemed to have forfeited and waived any right to purchase a Pro Rata Share of the New Securities pursuant to
Section 4.1 hereof. 

 4.4 Pro rata share. For the purposes of the Agreement, Kingsoft’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 Kingsoft in Kingsoft Cloud as of the date of the Agreement; less the number of shares (including ordinary shares and ADRs) held by Kingsoft 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. 
 4.5 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: 
  

	 	4.5.1	 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; 

  

	 	4.5.2	 any equity securities issued pursuant to the cancelation or exchange of any ADRs of Kingsoft Cloud by the
holders thereof; 

  

	 	4.5.3	 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; 

  

	 	4.5.4	 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 

  

	 	4.5.5	 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. 

 4.6 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 Kingsoft. The Parties acknowledge that the service fees payable by Kingsoft Cloud Group to Kingsoft Group and the pricing arrangements hereunder shall be governed by the relevant provisions in Article 3 hereof. 

Article 5 Term, Performance and Termination of the Agreement 

5.1 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 the date of the Agreement to December 31, 2024 (the “Term”). The Parties agree that they will review and decide on the renewal of the cooperation two (2) months prior to the expiry of the Term. 

5.2 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, internal procurement/transaction procedures,
and public commitments made by them. 
 5.3 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. 
 5.4 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 4 Anti-Dilution Rights), the Parties shall resolve the performance of
the other terms of the Agreement through separate negotiations. 
 5.5 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 shall be 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. 

Article 6 Representations and Warranties of the Parties 

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

6.2 The Parties hold the necessary licenses, permits, registrations, certificates, and other qualifications and approvals, whether domestic or overseas, to
provide the services hereunder. 
 6.3 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. 

6.4 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. 

6.5 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 7 Force Majeure 

7.1 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. 
 7.2 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. 
 7.3 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 8 Information Disclosure and Confidentiality 
 8.1
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. 

8.2 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. 
 8.3 Upon termination of the
Agreement, the Parties shall continue to be bound by the confidentiality obligations under this Article. 
 Article 9 Notice 

9.1 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: 

9.1.1 A notice delivered by hand shall be deemed to be effective on the date it is signed for by the person designated by the other Party
delivered to by hand; 
 9.1.2 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). 
 9.1.3 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: Kingsoft Corporation
Limited 
 Contact: Peng Bo 

 Address: Building D, Xiaomi Science and Technology Park, An Ning Zhuang Road, Haidian
District, Beijing, the PRC 
 9.2 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 10 Applicable Laws and Dispute Resolution 

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

10.2 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 Shanghai International Economic and Trade Arbitration Commission (SIETAC). According to the arbitration rules
of the Commission, the arbitration proceeding shall take place in Shanghai in Chinese. The arbitral award shall be final and binding on both Parties. 

Article 11 Miscellaneous 
 11.1 The Parties agree to
separately bear all relevant costs and expenses arising from the execution hereof in accordance with the relevant Chinese laws. In the absence of legal provisions, such costs and expenses shall be shared equally between both Parties. 

11.2 Except with the prior written consent of one Party hereto, the other Party hereto is prohibited from assigning its rights and obligations hereunder. 

11.3 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. 

11.4 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. 

11.5 The Appendices hereto, if any, are an integral part of the Agreement and shall be as equally binding as the Agreement. 

11.6 The Agreement is made in two originals, one for each Party, and both have the same legal effect. 

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between Kingsoft 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 Kingsoft and Kingsoft Cloud - January 2022) 
 Party A: 

Kingsoft Cloud Holdings Limited 
  

                          
                                   

Authorized representative (Signature): 
 The
signature and seal page of the Strategic Cooperation and Anti-Dilution Framework Agreement between Kingsoft 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 Kingsoft and Kingsoft Cloud - January 2022) 
 Party B: 

Kingsoft Corporation Limited 
  

                          
                           

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

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