E-commerce GrowthE-commerce GMV rose by 14% YoY with e-commerce MPUs up by 10% YoY, showing continued growth in the e-commerce segment.
MonetizationKling AI monetization is better than expected, generating over RMB150mn in 1Q25.
ValuationKuaishou currently trades at 10x FY25E non-IFRS PE, offering attractive value compared to both sector average and 2-year historical average.