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<Research>M Stanley: KUAISHOU-W (01024.HK) 1Q Results Slightly Beat; Kling Rev. Guidance Raised
KUAISHOU-W (01024.HK)'s 1Q25 revenue grew 10% YoY to RMB18 billion, beating Morgan Stanley's forecast by 1%, according to Morgan Stanley's research report. Adjusted net...
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<Research>M Stanley: KUAISHOU-W (01024.HK) 1Q Results Slightly Beat; Kling Rev. Guidance Raised
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KUAISHOU-W (01024.HK)  +1.250 (+2.420%)    Short selling $421.56M; Ratio 23.935%   's 1Q25 revenue grew 10% YoY to RMB18 billion, beating Morgan Stanley's forecast by 1%, according to Morgan Stanley's research report. Adjusted net profit was RMB4.6 billion, 2% above its estimation.

MAU, DAU and user usage time were all in healthy trends, in line with the targets of KUAISHOU-W. Therefore, the broker rated KUAISHOU-W at Equalweight, with a target price of $60.

Related NewsCLSA Keeps KUAISHOU-W's TP at HKD67; 1Q25 Results in Line
Management remained confident that the advertising growth rate in 2H25 will rebound to the 17-19% range (high teens). Gross profit margin (GPM) is expected to be largely flat YoY in 2Q25, with adjusted net profit of RMB5.1 billion, also broadly in line with market consensus. Full-year revenue guidance for Kling was raised from US$60 million to US$100 million, with upside risk.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-29 12:25.)

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