Kuaishou 1024

[winston]

Kuaishou prices IPO at $93 apiece

by Avery Chen

Chinese online short-video company Kuaishou Technology is planning to price its Hong Kong shares at not more than HK$93 apiece, with a minimum investment of HK$4,696 per 50 shares, local media reported.

The company's valuation has risen to between US$65.8 billion (HK$513.24 billion) and US$98.7 billion, with a price-to-earnings ratio of between 30 and 46 times, the report said.

Kuaishou has begun the pre-initial public offering roadshow to meet potential investors and it may open retail books as soon as next Tuesday to raise at least US$5 billion, targeting a valuation of around US$60 billion, Reuters reported earlier.

Mainland media said Kuaishou is planning to issue 415 million shares, with 2.5 percent for retail investors. The proportion will be increased to 7 percent if a so-call clawback system is triggered by significant oversubscription.

Source: The Standard

https://www.thestandard.com.hk/section- ... $93-apiece

[winston]

Kuaishou has changed the daily lives of many Chinese people but will the short video app prove a good investment?

Kuaishou is set for an initial public offering in Hong Kong that would be the city’s biggest in over a year

Short video app has offered a place to shine online for millions of underdogs but investors have to gauge if it can turn this appeal into sustainable profits

“The data we look at still points to that fact that Kuaishou users are typically based in lower tier cities … and we don’t see large high fashion, luxury and beauty key opinion leaders moving on to Kuaishou”.

The company said last July that users in tier-one and tier-two Chinese cities accounted for 45 per cent of its user base, compared with a 30 per cent share a year ago.

According to the company’s prospectus, virtual gifting in live streaming – where fans buy virtual presents for their online idols – account for 62 per cent of Kuaishou’s total sales, while online marketing and advertising services generate 33 per cent.

Going forward, Kuaishou is putting more emphasis on live-streaming e-commerce, a breakthrough channel for shopping in China during the pandemic.

The gross merchandise value (GMV) of live-streaming e-commerce on Kuaishou totalled over 333 billion yuan in the first eleven months of 2020, surging from 60 billion yuan in full-year 2019 and a negligible amount in 2018.

Source: SCMP

https://www.scmp.com/tech/big-tech/arti ... hort-video

[winston]

not vested

Kuaishou, backed by GIC and Temasek, seeks $7.2b in biggest tech IPO since Uber

The short video start-up, backed by Tencent Holdings, is selling 365 million shares at HK$105 to HK$115 each.

The company will start taking investor orders from Monday (Jan 25) through Jan 29 and is slated to list on Feb 5 in Hong Kong.

Kuaishou executives revealed monthly active users on its main app had reached 481.4 million while average daily time spent had crossed the 100-minute mark in 2021.

The offering of Kuaishou has attracted 10 cornerstone investors, who agreed to subscribe for US$2.45 billion of stock, based on the mid-point of the marketed range. The lineup includes The Capital Group, Temasek Holdings, GIC, BlackRock and Abu Dhabi Investment Authority, the terms show, confirming an earlier Bloomberg News report.

The cornerstone investors have agreed to hold stock for six months in exchange for early, guaranteed allocation.

The valuation of Kuaishou could more than double after its Hong Kong IPO. A top-end pricing will value the Chinese firm at US$60.9 billion, up from the US$28.6 billion it achieved in a funding round last year, according to Pitchbook. Even at the low end of the range, Kuaishou will still be valued at US$55.6 billion.

Kuaishou had about 262 million average daily active users as of September, according to its prospectus. That's still less than half the 600 million on Douyin, the Chinese version of TikTok.

That said, Kuaishou's revenues climbed 49 per cent to 40.7 billion yuan (S$8.3 billion) in the first nine months of last year, after it ratcheted up monetization efforts through advertising and e-commerce.

While it offers free access to its main platform, the start-up takes a cut of the tips users give to their favorite live-streamers who perform viral challenges, lip-synch to the latest pop songs and play video games.

Source: Straits Times

https://www.straitstimes.com/business/c ... -ipo-since

[winston]

not vested

KUAISHOU-W (01024.HK) HK IPO like Hot Cake Today; Brokers' Valuation 26-74% Above Listing Mkt Cap

KUAISHOU-W (01024.HK), with TENCENT (00700.HK) holding 20% stake, plans to issue 365 million shares at an offer price of $105-115. Hong Kong public offering starts from today to this Friday (29 January).

Morgan Stanley and HSBC Global Research's valuations on the Chinese short video sharing platform were 25.8-74.3% above the company's listing market cap.

Market sources said the international placing has been fully subscribed, proving the popularity.

Source: AAStocks Financial News

[winston]

Compared Forecast of Kuaishou's Ad Monetization Efficiency vs Global Key Internet Co. (Table)

Company│2019 Advertising Monetization Efficiency (Operating Revenue/Monthly Active Users (MAU))

Facebook (North America) (FB.US) | US$136.43
Facebook (other)│US$16.52
Douyin│US$14.68
TENCENT (00700.HK) | US$8.88
KUAISHOU-W (01024.HK)│US$3.81
Weibo (WB.US) │US$3.04

Source: AAStocks Financial News

[winston]

KUAISHOU-W (01024.HK)'s Key Operating, Financial Data (Table)

Operating data (Sep 2020)
- CN average DAUs: 305 million
- Average MAUs of apps & mini programs in China: 769 million
- Average daily time spent per DAU: 86+ minutes
- Short video & live streaming likes, shares & comments: 2.34 trillion
- Average MAUs as content creators: about 26%
- Total e-commerce GMV: RMB204.1 billion
- Average MPUs for live streaming: 59.9 million
- Monthly ARPPU for live streaming: RMB47
- Average online marketing services revenue per DAU: RMB50.9

------------

2019 Kuaishou Biz data

Data│2019 (RMB)/ YoY Change
Revenue│39.12B (+92.7%)
Operating profit│689M (turnaround from loss)
Loss│19.652B (2018 Loss: 12.43B)
Adjusted earnings│1.033B (+404%)

------------

9M20 Kuaishou Biz data

Data│9M20 (RMB)/ YoY Change

Revenue│40.677B (+49.1%)
Operating loss│8.942B (swings to loss)
Loss│97.371B (9M20 Loss: 1.617B)
Adjusted loss│7.244B (2019 Interim NP: 1.837B)

Source: AAStocks Financial News

[winston]

not vested

Subscribe: Ahead of the game

Kuaishou Technology is China’s leading short video and live streaming social platform

Company plans to upgrade its technology and branding to further cement its market leadership

IPO priced at 4.2x-4.6x FY21F PS (based on our preliminary estimates), a much lower multiple than peers such as Bilibili (BIL US, 16x FY21 PS).

SUBSCRIBE

Source: DBS

https://researchwise.dbsvresearch.com/R ... aadbkfhgbh

[winston]

not vested

Everything You Need To Know About The Kuaishou IPO

by Hirsh Chitkara

Kuaishou has more daily active users than Twitter and Snapchat.

Kuaishou has also attracted the following investors:
Capital Group will invest $500 million.
Invesco will invest $270 million.
Fidelity will invest $270 million.
Morgan Stanley Investment Management will invest $125 million.

Nikkei Asia added that the Singapore sovereign wealth fund GIC, Abu Dhabi Investment
Authority, Canada Pension Plan Investment Board, and Boyu Capital were among the other companies that agreed to purchase Kuaishou shares.

Source: Protocol

https://www.protocol.com/kuaishou-ipo#toggle-gdpr

[winston]

not vested

<IPO News>KUAISHOU-W (01024.HK) OTC Deal at $250/ Shr, Up 1.17x vs Expected Price

KUAISHOU-W (01024.HK)'s OTC transaction price hit $250 per share, with an increment of 117% over $115, the upper end of offer price in consensus, according to Chinese media.

The listing will start from this Friday (5 February).

Source: AAStocks Financial News

[winston]

not vested

Kuaishou faces copyright infringement dispute ahead of Hong Kong debut

The China-Audio Video Copyright Association said there are more than 155 million videos on Kuaishou’s platform that use copyrighted music without permission

The trade body said it will take ‘further measures’ to protect its rights, including requesting major Chinese app stores to remove Kuaishou

Source: SCMP

https://www.scmp.com/tech/apps-social/a ... c827&tc=18