Kuaishou Technology
HKEX:1024

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Kuaishou Technology
HKEX:1024
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Price: 68.75 HKD 1.85% Market Closed
Market Cap: 297.2B HKD

Kuaishou Technology
Investor Relations

Kuaishou Technology, a formidable player in the social media landscape, emerged from a small startup into a global powerhouse by tapping into the universal human desire for connection and self-expression. Founded initially as a tool for making GIFs, Kuaishou quickly evolved into a dynamic short video platform reminiscent of TikTok. What sets Kuaishou apart is its commitment to fostering authentic engagement and community via live streaming and interactive features. Unlike its competitors that primarily focus on polished, viral content, Kuaishou encourages its users to share real-life moments and build genuine communities. This distinct approach resonates deeply, particularly with users in smaller cities and rural areas, allowing the company to capture a unique market segment that often feels overlooked by more urban-centric platforms.

Financially, Kuaishou makes a substantial portion of its revenue through live-streaming services. Users can purchase virtual items for their favorite streamers, and a cut of these transactions goes to Kuaishou. Additionally, the platform benefits from online marketing services, as companies leverage its extensive user base for targeted advertising, willing to pay for the access to specific consumer demographics. The company's robust data analytics capabilities enhance this monetization strategy, delivering precise ad placements and personalized user experiences. With a growing international footprint, Kuaishou continues to expand its influence, crafting a narrative where technology and community converge to form a digital ecosystem that is as profitable as it is engaging.

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Hang Seng (Hong Kong)
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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 19, 2025
AI Summary
Q3 2025

Strong Revenue Growth: Kuaishou reported third quarter revenue of RMB 35.6 billion, up 14.2% year-over-year, with particularly strong performance in online marketing and e-commerce.

AI Strategy Paying Off: AI and large model investments, including Kling AI and OneRec, drove operational efficiency, cost reductions, and new monetization opportunities across the business.

Profitability Improvement: Operating profit rose 69.9% to RMB 5.3 billion and adjusted net profit increased 26.3% to RMB 5 billion, with an adjusted net margin of 14%.

Record User Metrics: Average daily active users (DAUs) on the Kuaishou App hit a new high of 416 million, with average daily time spent per DAU at 134.1 minutes.

E-commerce Momentum: E-commerce GMV climbed 15.2% to RMB 385 billion, with healthy repeat purchase trends and increased merchant participation.

Kling AI Commercialization: Kling AI generated over RMB 300 million in Q3 revenue and is expected to more than double its full-year revenue target to USD 140 million.

CapEx & Margin Outlook: CapEx is expected to rise mid- to high double digits in 2025 due to increased AI investments, but management still anticipates margin improvement year-over-year.

Special Dividend & Buyback: Kuaishou declared a HKD 2 billion special dividend and repurchased HKD 2.07 billion in shares.

Key Financials
Revenue
RMB 35.6 billion
Operating Profit
RMB 5.3 billion
Adjusted Net Profit
RMB 5 billion
Adjusted Net Margin
14%
Online Marketing Services Revenue
RMB 20.1 billion
E-commerce GMV
RMB 385 billion
Live-streaming Revenue
RMB 9.6 billion
Other Services Revenue (including E-commerce & Kling AI)
RMB 5.9 billion
Gross Profit
RMB 19.4 billion
Gross Profit Margin
54.7%
Average DAUs (Kuaishou App)
416 million
Average MAUs (Kuaishou App)
731 million
Average Daily Time Spent per DAU
134.1 minutes
Kling AI Revenue
RMB 300 million+ in Q3
Operating Net Cash Flow
RMB 7.7 billion
Cash and Equivalents (as of Sept 30, 2025)
RMB 106.6 billion
Share Buyback (2025 YTD)
HKD 2.07 billion (about 42.25 million shares, 0.98% of total shares outstanding)
Special Dividend
HKD 2 billion
R&D Expenses
RMB 3.7 billion
Administrative Expenses
RMB 688 million
Cost of Revenues
RMB 16.1 billion
Earnings Call Recording
Other Earnings Calls

Management

Mr. Yixiao Cheng
Co-Founder, Chairman & CEO
No Bio Available
Mr. Hua Su
Co-Founder & Executive Director
No Bio Available
Mr. Bing Jin
Chief Financial Officer
No Bio Available
Mr. Huaxia Zhao
VP of Capital Markets & Investor Relations and Joint Company Secretary
No Bio Available
Ms. Ka Man So A.C.I.S., A.C.S., FCIS, FCS
Joint Company Secretary
No Bio Available

Contacts

Address
BEIJING
Beijing
Building 1, No. 6, Shangdi West Road, Haidian District
Contacts