When Kingsoft Cloud, a Chinese cloud computing company, decided to go ahead with an initial public offering in the United States at the beginning of May, it seemed like a bad idea. April had not been kind to Chinese companies listed on American exchanges. Shares of Nasdaq-listed Luckin Coffee, a Chinese rival to Starbucks, had been pummeled after the company admitted to cooking its books. The chairman of the Securities & Exchange Commission followed with a blunt warning about the risks of