Kuaishou 1024

[winston]

not vested

Kuaishou posts 7 billion yuan loss in second quarter as it continues to burn cash amid regulatory crackdown

The Beijing-based company reported quarterly revenue of US$2.95 billion, representing a 48.8 per cent year-on-year increase

The short video platform had 293 million average daily active users on its main app, up 11.9 per cent compared with 262 million a year ago

by Tracy Qu

Source: SCMP

https://www.scmp.com/tech/big-tech/arti ... inues-burn

[winston]

not vested

Brokers' Post-result Ratings, TPs, Views on KUAISHOU-W (01024.HK) (Table)

Brokers│Ratings│TPs ($)
BofA Securities│Buy│246->199
Daiwa│Buy│350->150
Jefferies│Buy│162->137
HSBC Global Research│Buy│200->120
UBS│Buy│115->104
Nomura│Buy│273->95
Morgan Stanley│Underweight│120->60

Brokers│Views
BofA Securities│mkt concerned about 2H GPM, growth
Daiwa│operating metrics still surprising
Jefferies│invests in future amid healthy user trend
HSBC Global Research│local investment faster
UBS│user growth momentum good; participation offset by higher GPM
Nomura│undemanding pick for short video segment
Morgan Stanley│mkt shr loss faster

M Stanley Cuts KUAISHOU-W (01024.HK) TP to $60; Rated Underweight

Source: AAStocks Financial News

[behappyalways]

中國大陸網路公司經營難 「快手」也傳裁員30%｜方念華｜FOCUS全球新聞 20211209
https://m.youtube.com/watch?v=qu5py7VE2rk

[winston]

not vested

Short-video giant Kuaishou expects to break even in 2022 but China is tightening control on live streaming

Kuaishou Technology delivers solid financial results for 2021, with net loss narrowing to 78 billion yuan

On Tuesday, Beijing publishes new guidelines to further regulate profit-making practices in live streaming

by Tracy Qu

Source: SCMP

https://www.scmp.com/tech/tech-trends/a ... 2022-china

[winston]

not vested

UBS Restates KUAISHOU-W at Buy, Expects Ad., E-commerce Mkt Shr Gains to Outperform Peers

KUAISHOU-W (01024.HK)'s share price jumped nearly 7.8%, to close at $67.4 by midday.

UBS restated the Buy rating on the stock, with its target price axed from $149 to $95.

Based on the earnings revisions and a lower RMB exchange rate, the company was predicted to return to profitability by 2023.

UBS slashed the 2022E revenue for the company by 6%, primarily to reflect the assumptions on lower advertising revenue and e-commerce GMV due to pandemic-induced lockdowns.

Remaining constructive on the mid-to-long-term monetization outlook of KUAISHOU-W, UBS forecast a revenue CAGR of 20% for the company in 2022-24, compared to the online media average of 10%.

The broker anticipated that KUAISHOU-W will continue to outperform the market in terms of expanding market shares in the advertising and e-commerce segments.

Source: AAStocks Financial News

[winston]

not vested

KUAISHOU-W 1Q Loss Trims to RMB6.254B; Non-IFRS Loss Drops to RMB3.722B

KUAISHOU-W (01024.HK) unveiled the results for the three months ended March 31, 2022.

Loss trimmed to RMB6.254 billion during 1Q22 from RMB57.75 billion in the corresponding period of last year.

LPS equaled RMB1.48.

Non-IFRS adjusted net loss was RMB3.722 billion during 1Q22, versus RMB5.65 billion in the corresponding period of last year.

The adjusted EBITDA was negative RMB1.551 billion, narrowing from the RMB4.929 billion in 1Q21.

Source: AAStocks Financial News

[winston]

not vested

'KUAISHOU 616 Shopping Carnival' Tracks Almost 6x Leap in Branded Merchants' GMV on First 3 Days

KUAISHOU-W (01024.HK) kicked off the "616 Shopping Carnival" on 20 May, which will be ended on 18 June, Chinese media reported.

During the first three days of the event (20-22 May), the gross merchandise volume (GMV) of branded merchants leaped 5.92x YoY, among which the GMV of beauty industry notched a new high on the first day.

\Source: AA Financial News

[winston]

Brokers│Views

DBS│Non-live-streaming revenue expected to surge 113% YoY, mainly driven by online marketing and e-commerce business

Jefferies│Theme of market share growth remained intact

BofA Securities│Results reflected the outcome of efficiency-enhancement measures;
COVID-19 pandemic-prevention measures to weigh on short-term growth

JPMorgan│Both revenue and loss surpassed expectations; Traffic growth attested solid fundamentals

Morgan Stanley│Strong performance in market share gain and cost control

Nomura│Quarterly results beat, but focus on impact from COVID-19 pandemic

UBS│KUAISHOU-W anticipated to outperform peers under challenging macro environment

Source: AAStocks Financial News

[winston]

Kuaishou Technology (1024 HK)
Unique Trust-based Ecology Fuels Improvement In Near-term Outlook

Kuaishou is the second-largest short video platform in China and the third-largest
company by total number of mobile internet users in China.

After years of product iteration and community operations, it has built a super commercial short video app with distinctive characteristics, rich content and a dynamic ecology of short videos and live streams.

We like its unique position in the short video industry and solid growth in trust-based e-commerce.

Initiate coverage with BUY. Target price: HK$116.00.

Source: UOBKH

https://research.uobkayhian.com/content ... fe65eeec6a

[winston]

not vested

KUAISHOU(1024)

Analysis：

Kuaishou is a short video platform in China.

Its main business includes online marketing services, live streaming and other services (including e-commerce).

For the first quarter ended 31 March 2023, the company revenue amounted to RMB 25.2 billion, increasing 19.7% YoY.

Cost of revenue amounted to RMB 13.5 billion, increasing 9.9% YoY.

Gross profit amounted to RMB 11.7 billion, increasing 33.4% YoY.

Gross profit margin amounted to 46.4%, increasing 4.7 percentage points YoY.

Operating loss amounted to RMB 700 million; loss narrowed by 87.6%.

In the first quarter, the company seized the growth opportunities of seasonal festivals including the Spring Festival and set a new record for the number of users.

Average DAUs and MAUs of Kuaishou apps increased by 8.3% and 9.4% YoY to 374.3 million and 654.4 million, respectively.

The average daily usage time of each DAUS was 126.8 minutes, and the total number of views of short videos and live broadca! sts content increased by more than 10% YoY.

Coupled with Kuaishou`s continued rapid growth in “content e-commerce”, the total volume of e-commerce merchandise transactions increased by 28.4% YoY to RMB 224.8 billion, while the total merchandise volume of the KOL distribution channel increased by more than 50% YoY.

The company has started to receive commission income from talent distribution in the first quarter of 2023, which is expected to benefit the company`s e-commerce revenue.
Strategy：

Buy-in Price: $54.90, Target Price: $59.00, Cut Loss Price: $50.60

Source: Phillips