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Kuaishou Technology Class B (HK:1024)
:1024

Kuaishou Technology Class B (1024) AI Stock Analysis

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HK:1024

Kuaishou Technology Class B

(1024)

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Outperform 77 (OpenAI - 5.2)
Rating:77Outperform
Price Target:
HK$91.00
▲(13.54% Upside)
The score is driven primarily by strong financial performance (improving margins, solid growth, and strong cash generation) and a constructive earnings outlook supported by AI and e-commerce momentum. Technicals are positive but appear stretched (RSI/Stoch elevated), and valuation is moderate with no dividend yield data provided.
Positive Factors
Sustained high profitability margins
Elevated gross and operating margins indicate durable unit economics and improved operating leverage. Consistently high margins support reinvestment in product and AI, provide buffer versus competition, and underpin long-term free cash generation and shareholder returns.
Strong cash generation and liquidity
Robust operating and free cash flow ratios and a large cash balance give Kuaishou durable financial flexibility. This funds AI and e-commerce investments, supports a special dividend, and reduces refinancing risk, enabling strategic execution over multiple quarters.
Large user base plus AI and e-commerce monetization
Record DAUs and accelerating e-commerce GMV, paired with early AI monetization (Kling AI revenue), indicate diversified, scalable revenue drivers. Broad engagement plus AI-enhanced ads/commerce supports sustainable top-line growth and structural monetization improvements.
Negative Factors
Rising capital expenditures for AI
Substantially higher AI-driven CapEx increases fixed investment needs and near-term cash outflows. If AI monetization lags expectations, elevated CapEx could compress free cash flow and delay returns on incremental investment over several quarters.
Increase in total liabilities warrants monitoring
While leverage ratios remain moderate, rising total liabilities could signal higher operational or financing obligations. Continued liability growth without proportionate asset or cash-flow expansion would reduce financial flexibility and increase vulnerability to shocks.
Slow live-streaming growth and cautious consumer spending
Live-streaming is a core monetization channel; its stalled growth and cautious consumer spending create revenue concentration risk. Sustained weakness here could cap overall growth unless advertising, e-commerce, or AI monetization scale sufficiently to offset the drag.

Kuaishou Technology Class B (1024) vs. iShares MSCI Hong Kong ETF (EWH)

Kuaishou Technology Class B Business Overview & Revenue Model

Company DescriptionKuaishou Technology, an investment holding company, provides live streaming, online marketing, and other services mainly in the People's Republic of China. It offers Kuaishou Flagship, a short video and content based social networking platform; Kuaishou Express; Kuaishou Concept; Yitian Camera, an app to create photographs, videos, and vlogs; Kmovie, a shooting, editing, and production tool; AcFun, a video sharing website; and Kuaikandian, an information content aggregator. The company also develops and sells in-house mobile games, as well as games developed by third party game developers; provides online knowledge-sharing through its platform; and offers live streaming e-commerce content services. In addition, it develops software, hardware, and network technology; and offers programming and advertising, internet information, and multimedia information technology services, as well as provides technology development, promotion, and other services. Kuaishou Technology was founded in 2011 and is headquartered in Beijing, China.
How the Company Makes MoneyKuaishou generates revenue through multiple streams, primarily focusing on advertising, live streaming, and e-commerce. The advertising model includes brand partnerships and promotional content that appear within the app, enabling businesses to reach a broad audience. Live streaming allows content creators to earn money through virtual gifts purchased by viewers, with Kuaishou taking a percentage of these transactions. Additionally, the company has integrated e-commerce features, allowing users to purchase products directly through the app, further diversifying its revenue sources. Significant partnerships with brands and advertisers enhance its earning potential, while its large user base drives engagement and monetization opportunities.

Kuaishou Technology Class B Earnings Call Summary

Earnings Call Date:Nov 19, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Mar 31, 2026
Earnings Call Sentiment Positive
The earnings call highlighted robust revenue and profit growth, driven by successful AI strategy and e-commerce expansion. However, moderate growth in live-streaming and increased capital expenditures were noted as challenges.
Q3-2025 Updates
Positive Updates
Record Revenue Growth
Total revenue for Q3 2025 rose by 14.2% year-over-year to RMB 35.6 billion.
Strong Profitability
Adjusted net profit increased by 26.3% year-over-year to RMB 5 billion, with an adjusted net margin of 14%.
AI Strategy Success
Kling AI's revenue exceeded RMB 300 million in Q3, and the model was ranked #1 in text-to-video and image-to-video by Artificial Analysis.ai.
Robust E-commerce Growth
E-commerce GMV grew 15.2% year-over-year to RMB 385 billion.
Increased User Engagement
Average DAUs on the Kuaishou App reached 416 million, marking the third consecutive quarter of record highs.
Expanded AI Applications
AI integrated across all major business scenarios, driving significant benefits in online marketing services and e-commerce.
Negative Updates
Moderate Live-streaming Growth
Live-streaming revenue grew by only 2.5% year-over-year to RMB 9.6 billion.
Increasing CapEx
Group's total 2025 CapEx is expected to increase in the mid- to high double digits year-over-year due to AI investments.
Cautious Consumer Spending
Despite a resilient recovery, overall user spending remains cautious and rational.
Company Guidance
During the Kuaishou Technology Third Quarter 2025 Financial Results Conference Call, significant metrics were highlighted, reflecting the company's robust performance and strategic progress. The average daily active users (DAUs) on the Kuaishou App surpassed 416 million, marking the third consecutive quarter of record highs. Total revenue for Q3 increased by 14.2% year-over-year to RMB 35.6 billion, with core commercial business revenues, including online marketing and e-commerce, rising by 19.2%. Adjusted net profit climbed 26.3% year-over-year to RMB 5 billion, achieving an adjusted net margin of 14%. Kling AI, the company’s AI initiative, generated over RMB 300 million in revenue, demonstrating significant advances in monetization and cost-efficiency. Additionally, the company reported a healthy balance sheet with cash and equivalents totaling RMB 106.6 billion and a positive operating net cash flow of RMB 7.7 billion for Q3. The company also declared a special dividend of HKD 2 billion, reflecting confidence in its long-term growth prospects.

Kuaishou Technology Class B Financial Statement Overview

Summary
Strong fundamentals supported by 11.8% revenue growth (2023–2024), improved profitability (2024 net margin 12.1%, EBIT margin 12.0%), and robust cash generation (operating cash flow to net income 1.94; free cash flow growth). Balance sheet is solid with 44.3% equity ratio and low debt-to-equity (0.35), though rising liabilities are a monitorable risk.
Income Statement
85
Very Positive
Kuaishou Technology has demonstrated strong revenue growth with a 11.8% increase from 2023 to 2024. The company achieved a solid gross profit margin of 54.6% and a net profit margin of 12.1% in 2024. Additionally, the EBIT margin improved significantly to 12.0%, reflecting enhanced operational efficiency. These metrics indicate robust growth and profitability, positioning the company favorably within its industry.
Balance Sheet
78
Positive
The company's balance sheet shows a healthy equity ratio of 44.3% and a manageable debt-to-equity ratio of 0.35 in 2024, indicating a strong financial structure. With a return on equity of 24.7%, Kuaishou is effectively generating returns on shareholders' investments. However, the increase in total liabilities suggests a potential risk that needs monitoring.
Cash Flow
83
Very Positive
Kuaishou's cash flow statement highlights a substantial growth in free cash flow from 2023 to 2024. The operating cash flow to net income ratio of 1.94 reflects strong cash generation capabilities. Additionally, the free cash flow to net income ratio is 1.94, indicating efficient cash management and solid financial health.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue134.17B126.90B113.47B94.18B81.08B58.78B
Gross Profit73.33B69.29B57.39B42.13B34.03B23.81B
EBITDA23.88B17.74B14.59B-5.41B-71.65B-112.11B
Net Income16.14B15.34B6.40B-13.69B-78.08B-116.64B
Balance Sheet
Total Assets155.54B139.87B106.30B89.31B92.52B52.15B
Cash, Cash Equivalents and Short-Term Investments57.15B51.50B48.86B35.41B45.28B26.81B
Total Debt36.53B29.53B15.72B12.93B13.61B5.71B
Total Liabilities84.82B77.85B57.22B49.47B47.42B212.20B
Stockholders Equity70.70B62.00B49.06B39.83B45.09B-160.05B
Cash Flow
Free Cash Flow10.70B21.72B15.88B-2.42B-13.28B-3.62B
Operating Cash Flow16.38B29.79B20.78B2.20B-5.52B2.29B
Investing Cash Flow-17.95B-36.68B-19.86B-17.55B-18.36B-4.87B
Financing Cash Flow2.87B6.71B-1.36B-4.48B36.50B19.29B

Kuaishou Technology Class B Technical Analysis

Technical Analysis Sentiment
Positive
Last Price80.15
Price Trends
50DMA
71.13
Positive
100DMA
73.30
Positive
200DMA
67.77
Positive
Market Momentum
MACD
2.97
Negative
RSI
58.05
Neutral
STOCH
76.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1024, the sentiment is Positive. The current price of 80.15 is above the 20-day moving average (MA) of 78.14, above the 50-day MA of 71.13, and above the 200-day MA of 67.77, indicating a bullish trend. The MACD of 2.97 indicates Negative momentum. The RSI at 58.05 is Neutral, neither overbought nor oversold. The STOCH value of 76.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1024.

Kuaishou Technology Class B Peers Comparison

Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
HK$349.90B18.2825.67%11.37%16.74%
75
Outperform
HK$5.48T24.0620.51%0.75%13.15%30.78%
73
Outperform
HK$184.53B17.5814.50%1.01%13.62%80.52%
63
Neutral
HK$420.23B50.453.29%-2.92%-57.12%
60
Neutral
$48.67B4.58-11.27%4.14%2.83%-41.78%
60
Neutral
HK$22.01B13.036.05%9.97%-5.74%-14.46%
60
Neutral
HK$20.54B6.3712.49%8.13%-1.40%22.37%
* Communication Services Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:1024
Kuaishou Technology Class B
80.15
38.77
93.71%
HK:0700
Tencent Holdings
606.00
205.30
51.23%
HK:2518
Autohome Inc Class A
44.66
-5.02
-10.10%
HK:9888
Baidu, Inc. Class A
152.80
68.35
80.94%
HK:9898
Weibo Corp Class A
84.10
16.96
25.26%
HK:1698
Tencent Music Entertainment Group Class A
65.50
20.13
44.37%

Kuaishou Technology Class B Corporate Events

Kuaishou Grants 4.49 Million RSUs to Staff Under 2023 Incentive Scheme
Jan 23, 2026

Kuaishou Technology has granted 4,486,457 restricted share units (RSUs) to eligible employees under its 2023 Share Incentive Scheme, with each unit representing a right to receive one share or cash equivalent at no purchase price and vesting over a period of up to 48 months. The plan, which excludes directors, chief executives and substantial shareholders, incorporates performance-based vesting for designated employees and a detailed clawback mechanism, underscoring the company’s focus on aligning staff incentives with long-term performance, strengthening retention, and safeguarding corporate governance and shareholder interests.

The most recent analyst rating on (HK:1024) stock is a Hold with a HK$84.00 price target. To see the full list of analyst forecasts on Kuaishou Technology Class B stock, see the HK:1024 Stock Forecast page.

Kuaishou Taps Offshore Bond Markets With US$1.5 Billion and CNY3.5 Billion Note Issues
Jan 16, 2026

Kuaishou Technology has entered into purchase agreements with a syndicate of international banks to issue US$600 million 4.125% senior notes due 2031, US$900 million 4.750% senior notes due 2036 and CNY3.5 billion 2.450% senior notes due 2031, raising gross proceeds of about US$1.49 billion and CNY3.5 billion. The notes, which will be listed in Hong Kong for trading by professional investors only and sold primarily to institutional buyers under Rule 144A and Regulation S, are intended to fund general corporate purposes, underscoring Kuaishou’s effort to diversify its funding sources and deepen access to offshore debt markets, although completion remains conditional and subject to potential termination under the purchase agreements.

Kuaishou’s multi-currency bond issuance signals a strategic move to strengthen its balance sheet and secure relatively long-term funding at fixed rates, potentially supporting continued investment in its core video and live-streaming ecosystem and related expansion initiatives. By tapping both US dollar and offshore renminbi markets and working with a broad consortium of global and Chinese banks, the company reinforces its standing in international capital markets, while investors are cautioned that the deal is not yet unconditional and that listing approval does not equate to an endorsement of the company’s credit quality or the merits of the securities.

The most recent analyst rating on (HK:1024) stock is a Hold with a HK$87.00 price target. To see the full list of analyst forecasts on Kuaishou Technology Class B stock, see the HK:1024 Stock Forecast page.

Kuaishou Plans Dual-Currency Senior Notes Offering for Professional Investors
Jan 14, 2026

Kuaishou Technology plans an international offering of U.S. dollar- and renminbi-denominated senior notes to professional and institutional investors outside the United States and without any public offering in Hong Kong, the U.S. or other restricted jurisdictions. The size, pricing and terms of the notes will be determined via bookbuilding led by a syndicate of global and Chinese banks, with separate but non-inter-conditional tranches for USD and CNY notes, and the company intends to list the debt on the Hong Kong Stock Exchange and use the proceeds mainly for general corporate purposes, signaling a move to diversify its funding sources and strengthen its capital structure without immediate equity dilution for existing shareholders.

The most recent analyst rating on (HK:1024) stock is a Buy with a HK$91.00 price target. To see the full list of analyst forecasts on Kuaishou Technology Class B stock, see the HK:1024 Stock Forecast page.

Kuaishou Restores Live-Streaming After Cyberattack on Core App
Dec 23, 2025

Kuaishou Technology reported that the live-streaming function of its Kuaishou app was hit by a cyberattack on the night of December 22, 2025, temporarily disrupting the service while leaving other app functions unaffected. The company activated its emergency response, repaired and restored the system, and said live-streaming has been gradually returning to normal, while emphasizing its commitment to legal compliance, condemning illicit online activities, and stating it has reported the incident to law enforcement and will pursue further legal remedies to protect the interests of the company and its shareholders, as investors are urged to exercise caution when dealing in its securities.

The most recent analyst rating on (HK:1024) stock is a Buy with a HK$88.00 price target. To see the full list of analyst forecasts on Kuaishou Technology Class B stock, see the HK:1024 Stock Forecast page.

Kuaishou Technology Reports Strong Financial Growth in 2025
Nov 19, 2025

Kuaishou Technology announced its unaudited consolidated results for the three and nine months ending September 30, 2025, showing significant financial growth. The company reported a 14.2% increase in quarterly revenues and a 69.9% rise in operating profit compared to the previous year. This financial performance underscores Kuaishou’s strong market positioning and operational efficiency, reflecting positively on its stakeholders and enhancing its competitive edge in the technology and social media industry.

The most recent analyst rating on (HK:1024) stock is a Buy with a HK$83.00 price target. To see the full list of analyst forecasts on Kuaishou Technology Class B stock, see the HK:1024 Stock Forecast page.

Kuaishou Technology Schedules Board Meeting to Review Q3 Results
Oct 31, 2025

Kuaishou Technology has announced that its board of directors will meet on November 19, 2025, to consider and approve the unaudited consolidated third quarterly results for the period ending September 30, 2025. This meeting is significant as it will provide insights into the company’s financial performance and could impact its market positioning and stakeholder interests.

The most recent analyst rating on (HK:1024) stock is a Buy with a HK$95.37 price target. To see the full list of analyst forecasts on Kuaishou Technology Class B stock, see the HK:1024 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 13, 2026