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Kuaishou Technology - KSHTY STOCK NEWS

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Kuaishou Technology, known for its leading content community and social platform, has announced its financial results for the fourth quarter and full fiscal year ended December 31, 2023. Mr. Cheng Yixiao, the Co-founder and Chief Executive Officer, highlighted the company's focus on providing long-term value for users, cultivating a strong content ecosystem, and enhancing commercialization efficiency. With over 700 million MAUs in the fourth quarter and strong revenue growth in online marketing services, live streaming, and other services, Kuaishou remains dedicated to technological innovation and sustainable profitability.

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Kuaishou Technology has introduced its latest AI models at the 2024 World Artificial Intelligence Conference. The new models include Kling, for video generation, and Kolors, for image generation. Kling's new features, such as start and end frame control and extended video duration, aim to enhance user experience. Over 500,000 users have joined Kling's beta testing, producing 7 million videos. Kolors has been open-sourced to foster community development and stands out in the text-to-image model domain with high scores in semantic understanding and visual quality. Kuaishou's commitment to AI innovation is underscored by notable increases in active AIGC users, GMV, and advertising revenue. Collaboration with the China Computer Federation aims to further AI research and development.

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Kuaishou Technology has secured on-demand and short video rights for the Paris 2024 Summer Olympics via a licensing agreement with China Media Group. As a rights-holding broadcaster, Kuaishou will offer its 700 million users comprehensive event coverage and interactive experiences. The platform aims to capitalize on its extensive experience with major sports events, including past Olympics and the NBA. In 2023, Kuaishou engaged nearly 200 million users with sports content and saw a notable increase in sports-related product purchases. For the Paris 2024 Olympics, Kuaishou plans to integrate advanced technology and innovative features to enhance user engagement and commercial opportunities.

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Kuaishou Technology has launched its new video generation model, Kling, capable of creating AI-generated videos that replicate complex spatiotemporal motions and physical world characteristics. Kling, built on diffusion-based transformer architecture, can generate videos up to two minutes long with 1080p resolution at 30fps. The model utilizes a self-developed 3D VAE network for synchronous spatiotemporal compression and a full-attention spatiotemporal modeling module for accurate video data analysis. Kling is currently available for beta testing within Kuaishou's video editing app, KuaiYing.

This launch is part of Kuaishou's broader AI strategy, which includes other models like KwaiYii for language generation and KeTu for text-to-image generation. Kling aims to enhance the AI-powered creation and interactive experiences for Kuaishou's users and creators.

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Kuaishou Technology has announced a new on-market share repurchase program worth up to HK$16 billion. This new initiative will commence upon the expiry of the existing program on June 13, 2024, following the 2024 AGM. The company has already repurchased 61.7 million Class B shares valued at HK$3.09 billion under the existing program. The new repurchase program will span 36 months, concluding at the 2027 AGM. Kuaishou's Board believes the program will return value to shareholders and reflects confidence in the company's business outlook. Financial resources are deemed sufficient to support the repurchase while maintaining stability. The company will seek annual mandates to continue repurchases in compliance with relevant regulations. However, actual repurchase activities will depend on market conditions and the Board's discretion.

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Kuaishou Technology reported robust unaudited financial results for Q1 2024. Average Daily Active Users (DAUs) on the Kuaishou app increased by 5.2% YoY to 393.8 million, while Monthly Active Users (MAUs) rose 6.6% YoY to 697.4 million. Total e-commerce GMV surged by 28.2% to RMB 288.1 billion. Total revenue grew 16.6% YoY to RMB 29.4 billion, with gross profit jumping 37.6% to RMB 16.1 billion, representing a gross profit margin of 54.8%. The company reported a profit of RMB 4.1 billion, reversing a loss of RMB 876 million from the same period last year. Adjusted net profit reached RMB 4.4 billion, a significant increase from RMB 42 million in Q1 2023. Notably, the domestic segment's operating profit increased to RMB 4.0 billion. However, the live streaming business faced an 8% revenue decline to RMB 8.6 billion. The company's overseas segments showed improvement, with a 67.4% reduction in operating loss. CEO Cheng Yixiao highlighted the integration of AI technology and a focus on high-quality user growth and improved commercialization efficiency.

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Kuaishou Technology will report its 2024 first-quarter financial results on May 22, 2024. The company will discuss the unaudited consolidated results for the three months ended March 31, 2024, through a conference call on the same day.
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Kuaishou Technology reported strong financial results for Q4 2023 and FY 2023 with significant increases in key metrics. The company saw growth in DAUs, MAUs, e-commerce GMV, revenue, and profit. Operating profit improved, and adjusted net profit turned positive. Kuaishou's user base expanded, and its content ecosystem thrived, leading to enhanced commercial opportunities and revenue growth.
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Kuaishou Technology to Report Q4 and Full-Year 2023 Financial Results; Conference Call Scheduled for March 20, 2024
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Kuaishou Technology (01024/81024) reports strong financial growth in Q3 2023 with increased DAUs, MAUs, e-commerce GMV, total revenue, and gross profit. The company achieved a profit of RMB2.2 billion and an adjusted net profit of RMB3.2 billion, with total available funds reaching RMB55.4 billion.
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Kuaishou Technology will report its unaudited consolidated results for Q3 and nine months ended September 30, 2023, on November 21, 2023. A conference call will be held to discuss the results.
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FAQ

What were Kuaishou Technology's key financial highlights for the fourth quarter of 2023?

Revenue growth, MAUs exceeding 700 million, strong performance in online marketing services, live streaming, and other services.

Who is the CEO of Kuaishou Technology?

Mr. Cheng Yixiao, the Co-founder and Chief Executive Officer.

What is Kuaishou Technology's approach to providing long-term value for users?

Cultivating a strong content ecosystem, enhancing commercialization efficiency, and focusing on technological innovation.

How many MAUs did Kuaishou Technology reach in the fourth quarter of 2023?

Over 700 million MAUs, marking a new record high.

What is Kuaishou Technology's revenue growth strategy?

Optimizing user growth strategies, enhancing content supply, and utilizing AI technology for improved user experience.

What are Kuaishou Technology's plans for future growth?

Continued focus on content ecosystem, leveraging short videos and live streaming for new opportunities, and delivering greater value to users, partners, and shareholders.

Kuaishou Technology

OTC:KSHTY

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KSHTY Stock Data

24.69B
2.81B
Internet Content & Information
Communication Services
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Chengfu Road Wudaokou Haidian District