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<Research>Macquarie: KUAISHOU-W (01024.HK) Shows Strong 2Q Performance; Earnings Forecasts/ TP Raised
Recommend 18 Positive 27 Negative 10 |
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KUAISHOU-W (01024.HK) demonstrated strong 2Q25 results, with accelerated development in its advertising business and sustained growth momentum for its Kling AI, according to Macquarie's research report. The anticipated updates to AIGC marketing material solutions and a healthy user ecosystem are expected to enhance advertising conversion rates. Considering improvements in business structure and strengthened core operations, with AI investments remaining manageable, Macquarie kept rating at Outperform for KUAISHOU-W, and lifted its target price by 7% to $80.7. It is expected that KUAISHOU-W's domestic advertising business will continue to outrun its peers, with online marketing service revenue growing by 14% YoY in 2H25. Kling AI's 2Q25 revenue exceeded RMB250 million, with the launch of the upgraded Kling 2.1 model series in May. The broker believed that this will further consolidate KUAISHOU-W's leadership in the video foundation model area, and raised its 2025/ 2026 adjusted EPS forecasts by 5%/ 3%, reflecting better results and strong advertising business prospects. AASTOCKS Financial News Website: www.aastocks.com |
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