According to a research report published by Yamato, Kuaishou's performance for the first quarter of this year was broadly in line with expectations. The average number of daily active users reached 408 million, and the average daily usage time of an average daily active user was 133.8 minutes, which is close to a historically high level. Keling's AI revenue during the period reached 150 million yuan. As Keling AI's monetization capacity further improved, the bank raised Keling AI's annual revenue forecast to 700 million yuan, and believes that the impact of AI investment expenses on annual profits is limited. Furthermore, the bank expects a low 10-digit year-on-year increase in advertising revenue in the second quarter, returning to a high ten-digit growth rate in the second half of the year; the live streaming business is expected to grow 5% in the next quarter. As for the total volume of commodity transactions, the bank expects a 12% increase for the whole year. The bank reiterated its “buy” rating for Kuaishou and maintained the target price of HK$70.

According to a research report published by Yamato, Kuaishou's performance for the first quarter of this year was broadly in line with expectations. The average number of daily active users reached 408 million, and the average daily usage time of an average daily active user was 133.8 minutes, which is close to a historically high level. Keling's AI revenue during the period reached 150 million yuan. As Keling AI's monetization capacity further improved, the bank raised Keling AI's annual revenue forecast to 700 million yuan, and believes that the impact of AI investment expenses on annual profits is limited. Furthermore, the bank expects a low 10-digit year-on-year increase in advertising revenue in the second quarter, returning to a high ten-digit growth rate in the second half of the year; the live streaming business is expected to grow 5% in the next quarter. As for the total volume of commodity transactions, the bank expects a 12% increase for the whole year. The bank reiterated its “buy” rating for Kuaishou and maintained the target price of HK$70.