Is Kingsoft Cloud (KC) stock Halal?

Kingsoft Cloud represents American Depositary Receipts for China's largest independent cloud service provider. The company primarily provides cloud storage, delivery, and computing services, serving a diverse range of industries including gaming, video, and financial services. Its core offering lies in cloud infrastructure as a service (IaaS), platform as a service (PaaS), and managed cloud services. For Muslim investors, though, the most pressing question is simpler: is Kingsoft Cloud a Halal investment?

Is Kingsoft Cloud Shariah compliant?

No. In the October 2026 screening Kingsoft Cloud (KC) does not pass AAOIFI screening: it fails the interest-bearing investments and interest-bearing debt screens. Technology companies rarely fail AAOIFI screening on what they sell. Software, hardware and digital services are permissible business activities, so for a company like Kingsoft Cloud the Shariah question moves to the balance sheet: how much of its market value sits in interest bearing debt, how much of its cash earns Riba in conventional deposits, and whether incidental income from impermissible sources creeps past 5% of revenue. These are exactly the ratios AAOIFI Shariah Standard No. 21 polices, and they move every month with the share price.

Does Kingsoft Cloud pass the business activity test?

The activity screen is only part of the picture this month: Kingsoft Cloud currently fails the interest-bearing investments and interest-bearing debt screens, so the overall verdict is not compliant regardless of the business itself. The watch item for technology names is incidental: cash returns and platform content can carry impermissible elements, which AAOIFI tolerates only below the thresholds.

Is Kingsoft Cloud's income Halal?

Yes, within AAOIFI's tolerance. Kingsoft Cloud's income from non-permissible sources stays below 5% of revenue in the October 2026 screening.

Does Kingsoft Cloud meet AAOIFI's debt and investment ratio requirements?

No. Both ratios currently breach the 30% caps, measured against a market capitalisation of $2.73B (market data as of 1 October 2026): interest bearing investments and interest bearing debt each exceed the limit AAOIFI permits for a Halal investment. The ratios move with the share price as well as the balance sheet, and our Shariah Supervisory Board has KC re-screened every month.

Why do other halal screeners show a different verdict for Kingsoft Cloud?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read Why a Halal Stock Screener Matters for Halal Investing