Kuaishou Technol Stock Price, News & Analysis

Kuaishou Technology has appointed Mr. Jin Bing as the new Chief Financial Officer, effective immediately, following the retirement of Mr. Chong Nicholas Yik Kay, who takes a senior advisory role for two years. Mr. Jin, with extensive experience in financial management and investment banking, previously served as CFO at Joyy Inc. and Zuoyebang. The leadership change aims to strengthen Kuaishou's financial operations as the company continues to innovate and serve customers across its content community and social platform.

Kuaishou Technology, a leading social platform, reported strong growth in its unaudited results for Q3 2021. Average Daily Active Users (DAUs) rose 17.9% to 320.4 million, while Monthly Active Users (MAUs) climbed 19.5% to 572.9 million. Total revenue increased by 33.4% to RMB20.5 billion, driven by a 76.5% rise in online marketing services revenue to RMB10.9 billion. E-commerce GMV reached RMB175.8 billion, up 86.1% year-over-year. The company has restructured its organization to enhance efficiency and resource utilization.

Kuaishou Technology will report its unaudited consolidated third quarter results for the three and nine months ending September 30, 2021, after the Hong Kong market closes on November 23, 2021. Management will host a conference call on the same date at 8:00 PM Beijing Time (7:00 AM U.S. Eastern Time) to discuss the results. Participants can pre-register for the call in either Chinese or English, with replays available until November 30, 2021.

For more details, visit Kuaishou's investor relations website.

Kuaishou Technology announced a management shift on October 29, 2021. Co-founder Mr. Cheng Yixiao has been appointed CEO, succeeding co-founder Mr. Su Hua, who continues as Chairman of the Board. This change aims to enhance organizational efficiency and aligns with the requirements of the Hong Kong Stock Exchange. Cheng Yixiao will oversee day-to-day operations, while Su Hua will focus on long-term strategy and new initiatives. This adjustment follows a broader organizational restructuring announced on September 28, 2021, aimed at transforming the company’s operational structure.

Warner Music Group (WMG) has partnered with Kuaishou, a Chinese short-form video platform, to license its music for Kuaishou's international apps, including Kwai and SnackVideo. This collaboration allows WMG to expand its artist reach to Kuaishou's user base, which has surpassed 1 billion globally. Kuaishou's monthly active users outside China exceed 180 million, making it a prominent platform in Latin America and Southeast Asia. The deal signifies WMG's strategic growth in the digital music space and enhances Kuaishou's commitment to offering diverse content.

Kuaishou Technology announced its second quarter and interim 2021 unaudited financial results, reporting a 48.8% increase in total revenues to RMB19.1 billion. The company achieved 293.2 million DAUs, up 11.9% year-over-year, with an average daily usage time of 106.9 minutes per user. Online marketing services revenue soared 156.2% to RMB10.0 billion, contributing over 52% of total revenue. E-commerce GMV also doubled to RMB145.4 billion. Kuaishou expressed optimism about overseas growth, with MAUs exceeding 180 million in international markets.

Kuaishou Technology will announce its unaudited consolidated results for the second quarter and half year ending June 30, 2021, after the Hong Kong market closes on August 25, 2021. A conference call is scheduled for the same day at 8:00 PM Beijing Time (8:00 AM U.S. Eastern Time). Participants must pre-register for the call, which offers both Mandarin and English interpretation. Live and archived webcasts will be accessible on Kuaishou's investor relations website. Replays will be available until September 8, 2021. For inquiries, contact Kuaishou's Investor Relations.

Kuaishou Technology reported strong performance for Q1 2021, with total revenues rising by 36.6% year-over-year to RMB17.0 billion. Average daily active users (DAUs) reached 379.2 million, up 26.4%, with time spent per DAU increasing 16.5% to 99.3 minutes. Online marketing services revenue soared 161.5% to RMB8.6 billion, contributing over 50% of total revenue. E-commerce GMV grew 219.8% to RMB118.6 billion. The company saw significant growth in both domestic and overseas markets, with monthly active users exceeding 150 million in April 2021.

Kuaishou Technology (1024.HK) will release its unaudited consolidated financial results for Q1 2021 on May 24, 2021, after the close of the Hong Kong market. A conference call will be held at 8:00 PM Beijing Time to discuss these results. Participants must pre-register for the call via the provided link to receive a passcode. Live and archived webcasts will be accessible on the investor relations website. Replay of the call will be available until May 31, 2021, with specific toll-free numbers for the U.S. and Canada.