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01024
KUAISHOU-W
HKD
75.5001.900
(2.58%)
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News
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4.5
08:27 AMaastocksHSI Rises by 363 Points; Gains in AI, Smart Driving, Financial, and Metal Stocks
US and China Stock Market Performance: The DJIA in the US reached a record high, while the Shanghai Composite Index in China hit a ten-year high, with the Hong Kong bourse also experiencing significant gains.
Tech Stocks Movement: Major tech stocks like TENCENT, JD-SW, and BIDU-SW saw increases of 1.3-1.7%, while BABA-W dipped by 1.3%. Other tech companies related to autonomous driving surged after Nvidia's platform release.
Financial Sector Gains: Overseas bank stocks, including HSBC and Standard Chartered, rose by 3.1% and 1.9%, respectively, while Chinese insurers and brokers also posted substantial gains.
Commodity and Resource Stocks Surge: Gold miners and resource stocks experienced significant increases, with ZHAOJIN MINING and JIANGXI COPPER rising by 7.3% and 5.5%, respectively, amid elevated commodity prices.
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4.0
05:03 AMaastocksCiti's Ratings and Target Prices for Chinese Internet Companies (Table)
Stock Ratings Overview: Various companies including Alibaba, Baidu, and JD.com received "Buy" ratings with target prices set at US$225, US$181, and US$44 respectively, while others like Meituan and Vipshop were rated as "Neutral."
Short Selling Data: Significant short selling activity was noted for Tencent and Kuaishou, with ratios of 12.707% and 9.756%, indicating investor skepticism about these stocks.
Market Performance: Stocks such as Tencent and Kuaishou experienced positive price movements, with Tencent rising by 2.002% and Kuaishou by 2.717%, reflecting a generally favorable market sentiment.
Related News Insights: Reports highlight the valuation of China's top private companies, suggesting they are nearly half the value of the US's "Magnificent Seven," indicating a competitive landscape in the tech sector.
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4.5
04:30 AMaastocksHSI Increases by 468 Points at Midday; AI, Financial, and Commodity Stocks See Growth
Market Performance: The HSI rose by 468 points (1.8%) to 26,815, with significant gains in the HSCEI and HSTECH, reflecting a total market turnover of HKD162.678 billion.
Technology Sector Gains: Major tech stocks like TENCENT and MEITUAN-W saw increases of 2.0% and 1.9%, while other companies like KUAISHOU-W and JD-SW also experienced notable rises.
Healthcare and AI Stocks: Healthcare platforms and AI stocks performed well, with companies like PA GOODDOCTOR and SENSETIME-W advancing over 5%, driven by positive market sentiment.
Resource and Financial Stocks: Resource stocks, particularly gold miners, surged due to rising commodity prices, while foreign bank stocks like HSBC and STANCHART also showed upward trends.
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4.5
04:12 AMaastocksMidday Update: HSI Rises by 468 Points; HSTI Gains 126 Points; PING AN Surges Over 5%; PING AN, CHINAHONGQIAO, ZIJIN MINING, CHINA LIFE, and HSBC HOLDINGS Reach New Peaks
Market Performance: The Hang Seng Index (HSI) rose by 468 points (1.8%) to 26,815, while the Hang Seng Tech Index (HSTI) increased by 126 points (2.2%) to 5,868, and the Hang Seng China Enterprises Index (HSCEI) gained 147 points (1.6%) to 9,296.
Top Gainers: Notable gainers included PING AN (+5.1%), HKEX (+2.7%), and TENCENT (+2.1%), with PING AN reaching a new high at $72.1.
Significant Movements: CHINAHONGQIAO and JD HEALTH saw substantial increases of 6.4% and 6.1%, respectively, with CHINAHONGQIAO also hitting a new high at $35.34.
Short Selling Activity: High short selling ratios were observed in several stocks, including XIAOMI (25.9%) and KUAISHOU-W (13.4%), indicating significant market interest in these companies.
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4.0
04:09 AMaastocksShenwan Hongyuan Maintains Buy Rating on KUAISHOU-W, Reduces Adjusted Earnings Projections for 2026-27
Revenue Forecast Adjustment: Shenwan Hongyuan has lowered its revenue forecast for KUAISHOU-W for 2025-27 due to macroeconomic pressures and changes in the live streaming ecosystem, estimating revenues of RMB142.2 billion, RMB155.2 billion, and RMB169.3 billion respectively.
Net Profit Projections: The broker maintained its 2025 net profit forecast at RMB20.2 billion but reduced the adjusted net profit estimates for 2026 and 2027 to RMB22.3 billion and RMB25.5 billion, respectively, while keeping a Buy rating on the stock.
Money Flow
Over the past 66 trading days, overall net money flow is 73.35M, with retail investors contributing -22.59M and major investors adding 115.82M.
Net Buy $ Volume
Net Sell $ Volume
Goldman Sachs
Goldman Sachs
maintain
HKD83
2025-12-03
Reason
Goldman Sachs maintained a "Buy" rating on Kuaishou (01024.HK) due to several key factors. The recent launch of "Kling O1," a unified multimodal creation tool, is expected to drive significant growth, particularly as corporate demand for Kling models has surged, now accounting for about 40% of Kuaishou's revenue. The firm anticipates that the ongoing expansion of Kuaishou's overseas business development team and the acquisition of more corporate clients in various sectors will serve as primary growth drivers over the next 1-2 years. Additionally, Goldman Sachs projects substantial revenue growth for the Kling AI business, forecasting over USD140 million in 2025 and an increase to between USD230-240 million by 2026. The potential for upward revisions in revenue forecasts for the Kling AI business in 4Q25 further supports their positive outlook, leading to a target price of HKD83.
Goldman Sachs
Price Target
HKD83
2025-12-03
maintain
Goldman Sachs maintained a "Buy" rating on Kuaishou (01024.HK) due to several key factors. The recent launch of "Kling O1," a unified multimodal creation tool, is expected to drive significant growth, particularly as corporate demand for Kling models has surged, now accounting for about 40% of Kuaishou's revenue. The firm anticipates that the ongoing expansion of Kuaishou's overseas business development team and the acquisition of more corporate clients in various sectors will serve as primary growth drivers over the next 1-2 years. Additionally, Goldman Sachs projects substantial revenue growth for the Kling AI business, forecasting over USD140 million in 2025 and an increase to between USD230-240 million by 2026. The potential for upward revisions in revenue forecasts for the Kling AI business in 4Q25 further supports their positive outlook, leading to a target price of HKD83.
Citi
maintain
$88
2025-12-03
Reason
The analyst rating for KUAISHOU-W (01024.HK) is maintained as "Buy" by Citi due to several reasons:
1. Technological Innovation: The launch of the latest version of the Kling O1 model, which is described as the "world’s first unified multi-modal video model," is expected to significantly enhance user-generated video flexibility and efficiency. This includes improvements such as extending the maximum video length and integrating diverse instructions into a single input box.
2. Strengthening Competitive Position: Citi notes that Kuaishou is continuing to strengthen its Kling technology to maintain its leading position in the market, despite increasing competition in video generation models.
3. Valuation: The broker highlights Kuaishou's low valuation as a positive factor, suggesting that the stock is undervalued relative to its potential.
4. Target Price: Citi has set a target price of HKD88, indicating confidence in the stock's future performance.
Overall, these factors contribute to the positive outlook and the "Buy" rating despite some challenges in the e-commerce sector.
Citi
Price Target
$88
2025-12-03
maintain
The analyst rating for KUAISHOU-W (01024.HK) is maintained as "Buy" by Citi due to several reasons:
1. Technological Innovation: The launch of the latest version of the Kling O1 model, which is described as the "world’s first unified multi-modal video model," is expected to significantly enhance user-generated video flexibility and efficiency. This includes improvements such as extending the maximum video length and integrating diverse instructions into a single input box.
2. Strengthening Competitive Position: Citi notes that Kuaishou is continuing to strengthen its Kling technology to maintain its leading position in the market, despite increasing competition in video generation models.
3. Valuation: The broker highlights Kuaishou's low valuation as a positive factor, suggesting that the stock is undervalued relative to its potential.
4. Target Price: Citi has set a target price of HKD88, indicating confidence in the stock's future performance.
Overall, these factors contribute to the positive outlook and the "Buy" rating despite some challenges in the e-commerce sector.
Nomura
Buy
maintain
$90 -> $77
2025-11-20
Reason
The analyst rating from Nomura for KUAISHOU-W (01024.HK) remains a "Buy" despite lowering the target price from HKD90 to HKD77. The reasons for this rating include:
1. Strong Revenue Growth: KUAISHOU-W's 3Q25 revenue grew by 14% year-over-year, which was 1% above both Nomura's and the market's expectations.
2. Increased Profitability: The company's non-IFRS net profit increased by 26% year-over-year to RMB5 billion, exceeding market expectations by 3%. This was driven by an increase in the operating profit margin to 15%.
3. Advertising and Other Revenue: The growth in advertising revenue was in line with expectations, while a significant 41% increase in other revenue surpassed forecasts, particularly with Kling AI generating over RMB300 million.
4. Market Position: Despite a conservative guidance for 4Q25 revenue growth of 10% (below the market expectation of 12%), the overall performance and growth in other revenue streams support a positive outlook.
These factors contribute to Nomura's decision to maintain a "Buy" rating, indicating confidence in the company's long-term potential despite short-term guidance concerns.
Nomura
Buy
Price Target
$90 -> $77
2025-11-20
maintain
The analyst rating from Nomura for KUAISHOU-W (01024.HK) remains a "Buy" despite lowering the target price from HKD90 to HKD77. The reasons for this rating include:
1. Strong Revenue Growth: KUAISHOU-W's 3Q25 revenue grew by 14% year-over-year, which was 1% above both Nomura's and the market's expectations.
2. Increased Profitability: The company's non-IFRS net profit increased by 26% year-over-year to RMB5 billion, exceeding market expectations by 3%. This was driven by an increase in the operating profit margin to 15%.
3. Advertising and Other Revenue: The growth in advertising revenue was in line with expectations, while a significant 41% increase in other revenue surpassed forecasts, particularly with Kling AI generating over RMB300 million.
4. Market Position: Despite a conservative guidance for 4Q25 revenue growth of 10% (below the market expectation of 12%), the overall performance and growth in other revenue streams support a positive outlook.
These factors contribute to Nomura's decision to maintain a "Buy" rating, indicating confidence in the company's long-term potential despite short-term guidance concerns.
CMBI
CMBI
Buy
upgrade
$84 -> $88
2025-11-20
Reason
The analyst rating for KUAISHOU-W (01024.HK) is a "Buy" with a target price increase from HKD84 to HKD88. This positive outlook is supported by several factors: a 14% year-over-year increase in revenue that met market expectations, a 26% growth in adjusted net profit that exceeded both CMBI's and market expectations, and significant contributions from AI initiatives, particularly with Kling AI revenue surpassing RMB300 million and driving additional growth in domestic advertising revenue. Overall, the analyst expresses an upbeat outlook for the company's AI development, reinforcing the positive rating.
CMBI
Buy
Price Target
$84 -> $88
2025-11-20
upgrade
The analyst rating for KUAISHOU-W (01024.HK) is a "Buy" with a target price increase from HKD84 to HKD88. This positive outlook is supported by several factors: a 14% year-over-year increase in revenue that met market expectations, a 26% growth in adjusted net profit that exceeded both CMBI's and market expectations, and significant contributions from AI initiatives, particularly with Kling AI revenue surpassing RMB300 million and driving additional growth in domestic advertising revenue. Overall, the analyst expresses an upbeat outlook for the company's AI development, reinforcing the positive rating.
CICC
CICC
Outperform
maintain
$89
2025-11-20
Reason
CICC maintained an Outperform rating for KUAISHOU-W due to the company's strong financial performance in 3Q25, where revenue grew by 14% year-over-year to RMB35.6 billion, surpassing expectations. Additionally, the non-IFRS net profit of RMB4.99 billion exceeded CICC's forecast, and the gross merchandise value (GMV) also showed a positive increase. Overall, the results aligned well with the broker's expectations, justifying their favorable rating and target price of HKD89.
CICC
Outperform
Price Target
$89
2025-11-20
maintain
CICC maintained an Outperform rating for KUAISHOU-W due to the company's strong financial performance in 3Q25, where revenue grew by 14% year-over-year to RMB35.6 billion, surpassing expectations. Additionally, the non-IFRS net profit of RMB4.99 billion exceeded CICC's forecast, and the gross merchandise value (GMV) also showed a positive increase. Overall, the results aligned well with the broker's expectations, justifying their favorable rating and target price of HKD89.
UBS
UBS
Buy
downgrade
$95
2025-11-20
Reason
The analyst rating for KUAISHOU-W (01024.HK) is maintained as a "Buy" due to several positive factors highlighted in the UBS research report. The company delivered satisfactory results for 3Q25, with advertising and e-commerce commission revenues exceeding expectations and operating expenses being lower than anticipated. Additionally, the 4Q25 guidance aligns well with market forecasts. The growth in the AI business, particularly Kling AI's revenue, which increased over 20% QoQ, further supports the positive outlook. UBS also noted the company's reasonable valuation and a substantial buyback quota of HKD10 billion, which could help support the stock price. Although UBS slightly adjusted the target price from HKD95.37 to HKD95, the overall rating remains unchanged at "Buy."
UBS
Buy
Price Target
$95
2025-11-20
downgrade
The analyst rating for KUAISHOU-W (01024.HK) is maintained as a "Buy" due to several positive factors highlighted in the UBS research report. The company delivered satisfactory results for 3Q25, with advertising and e-commerce commission revenues exceeding expectations and operating expenses being lower than anticipated. Additionally, the 4Q25 guidance aligns well with market forecasts. The growth in the AI business, particularly Kling AI's revenue, which increased over 20% QoQ, further supports the positive outlook. UBS also noted the company's reasonable valuation and a substantial buyback quota of HKD10 billion, which could help support the stock price. Although UBS slightly adjusted the target price from HKD95.37 to HKD95, the overall rating remains unchanged at "Buy."
UOB Kay Hian
UOB Kay Hian
Buy
to
Buy
downgrade
$90 -> $88
2025-11-20
Reason
The analyst rating from UOB Kay Hian for KUAISHOU-W (01024.HK) is a "Buy" due to the company's 3Q25 results aligning with expectations. The turnover increased by 14% year-over-year to RMB35.6 billion, which met market forecasts. Additionally, the non-IFRS net profit exceeded consensus expectations by 3%, showing a significant 26% year-over-year increase to RMB5 billion. Despite the positive performance, the target price was slightly adjusted down from HKD90 to HKD88.
UOB Kay Hian
Buy
to
Buy
Price Target
$90 -> $88
2025-11-20
downgrade
The analyst rating from UOB Kay Hian for KUAISHOU-W (01024.HK) is a "Buy" due to the company's 3Q25 results aligning with expectations. The turnover increased by 14% year-over-year to RMB35.6 billion, which met market forecasts. Additionally, the non-IFRS net profit exceeded consensus expectations by 3%, showing a significant 26% year-over-year increase to RMB5 billion. Despite the positive performance, the target price was slightly adjusted down from HKD90 to HKD88.
CLSA
Outperform
maintain
$83
2025-11-10
Reason
The analyst rating from CLSA for KUAISHOU-W (01024.HK) is based on the expectation of solid e-commerce growth and higher revenue from Kling AI in the third quarter of 2025. They project a 13% increase in total revenue and a 23% increase in adjusted net profit year-over-year, estimating revenues of RMB35 billion and adjusted net profits of RMB4.9 billion. Additionally, they anticipate a year-over-year growth rate of about 15% in e-commerce and a significant rise in profits from China operations, which is expected to offset slight losses in overseas operations. This positive outlook led CLSA to reiterate an "Outperform" rating and maintain a target price of $83.
CLSA
Outperform
Price Target
$83
2025-11-10
maintain
The analyst rating from CLSA for KUAISHOU-W (01024.HK) is based on the expectation of solid e-commerce growth and higher revenue from Kling AI in the third quarter of 2025. They project a 13% increase in total revenue and a 23% increase in adjusted net profit year-over-year, estimating revenues of RMB35 billion and adjusted net profits of RMB4.9 billion. Additionally, they anticipate a year-over-year growth rate of about 15% in e-commerce and a significant rise in profits from China operations, which is expected to offset slight losses in overseas operations. This positive outlook led CLSA to reiterate an "Outperform" rating and maintain a target price of $83.
Citi Research
Buy
maintain
$88
2025-10-20
Reason
Citi Research maintained a "Buy" rating for KUAISHOU-W (01024.HK) based on several factors. They expect the company's 3Q25 results to align with market consensus for revenue and profit, with a projected year-over-year GMV growth of approximately 15%. The report highlights a recovery in live streaming e-commerce and positive momentum in shelf-based e-commerce. Additionally, Citi Research is optimistic about KUAISHOU-W's strategy for the upcoming Double 11 shopping festival, anticipating a simplified discount strategy and AI technology support for merchants to enhance GMV growth. The target price remains at $88, reflecting a reasonable valuation.
Citi Research
Buy
Price Target
$88
2025-10-20
maintain
Citi Research maintained a "Buy" rating for KUAISHOU-W (01024.HK) based on several factors. They expect the company's 3Q25 results to align with market consensus for revenue and profit, with a projected year-over-year GMV growth of approximately 15%. The report highlights a recovery in live streaming e-commerce and positive momentum in shelf-based e-commerce. Additionally, Citi Research is optimistic about KUAISHOU-W's strategy for the upcoming Double 11 shopping festival, anticipating a simplified discount strategy and AI technology support for merchants to enhance GMV growth. The target price remains at $88, reflecting a reasonable valuation.
Jefferies
Jefferies
maintain
$106
2025-10-06
Reason
Jefferies maintained a "Buy" rating for KUAISHOU-W (01024.HK) based on their projections that the company will meet income and profit forecasts, including a 13% year-over-year increase in total revenue and a 15% rise in GMV. They also anticipate an expansion in gross profit margin to approximately 55% and a non-IFRS profit of around RMB4.84 billion. The broker highlighted the significance of AI and the potential of the video generation market, which is still in its early development stages, as key factors supporting their positive outlook. The target price set by Jefferies is $106.
Jefferies
Price Target
$106
2025-10-06
maintain
Jefferies maintained a "Buy" rating for KUAISHOU-W (01024.HK) based on their projections that the company will meet income and profit forecasts, including a 13% year-over-year increase in total revenue and a 15% rise in GMV. They also anticipate an expansion in gross profit margin to approximately 55% and a non-IFRS profit of around RMB4.84 billion. The broker highlighted the significance of AI and the potential of the video generation market, which is still in its early development stages, as key factors supporting their positive outlook. The target price set by Jefferies is $106.
Valuation Metrics
Forward PE
N/A
5Y Average PE
1.45
Current PE
12.66
Overvalued PE
5.65
Undervalued PE
-2.75
Forward EV/EBITDA
N/A
5Y Average EV/EBITDA
4.46
Current EV/EBITDA
6.71
Overvalued EV/EBITDA
33.30
Undervalued EV/EBITDA
-24.37
Forward PS
5Y Average PS
1.68
Current PS
1.68
Overvalued PS
2.08
Undervalued PS
1.27
Financials
Annual
Quarterly
N/A
Total Revenue
N/A
Operating Profit
N/A
EPS - Diluted
N/A
Gross Profit Margin - %
N/A
Net Margin - %
Trading Trends
Daily
Monthly
Buyback
Short Selling
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