Kuaishou Technology Class B (HK:1024) has released an update.
Kuaishou Technology, a Cayman Islands-based company with weighted voting rights, has reported a significant financial performance improvement for the first quarter of 2024, with a 16.6% rise in revenues and a sizeable shift from an operating loss in 2023 to a profit in 2024. The company saw a dramatic increase in adjusted net profit by over 10,000% and a nearly 200% rise in adjusted EBITDA, reflecting substantial growth both domestically and overseas.
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