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<Research>M Stanley: KUAISHOU-W Kling's Leading Tech Entices Professionals Worldwide; Annual Rev. May Beat Guidance
KUAISHOU-W (01024.HK) gained traction today (6th). It last traded at HKD58.25, up 6.9%, on a turnover of HKD4.794 billion.According to a Morgan Stanley report, KUAISHOU-W announced...
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<Research>M Stanley: KUAISHOU-W Kling's Leading Tech Entices Professionals Worldwide; Annual Rev. May Beat Guidance
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KUAISHOU-W (01024.HK)  +4.600 (+8.440%)    Short selling $1.74B; Ratio 19.248%   gained traction today (6th). It last traded at HKD58.25, up 6.9%, on a turnover of HKD4.794 billion.

According to a Morgan Stanley report, KUAISHOU-W announced that the annualized revenue run rate of its self-developed video generation model, Kling, exceeded USD100 million in March. Meanwhile, the monthly subscription revenue in April and May also surpassed RMB100 million, translating to an annualized revenue of at least USD167 million (around 67% MoM growth).

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Among Kling's existing customers, 70% are from overseas, and 70% are also professionals in related industries, said Morgan Stanley. In the broker's opinion, the strong monthly subscription revenue indicated a keen interest from global professionals in Kling's leading technology/ capability in text-to-video generation models. If this momentum continues throughout the year, it is likely that Kling's annual revenue will surpass KUAISHOU-W's annual guidance of USD100 million.

Morgan Stanley kept an Equalweight rating on KUAISHOU-W and a target price 'Market Perform' rating for Kuaishou with a target price of HKD60.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-06 16:25.)

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