【Q3 2024 Earnings】Kuaishou's Adjusted Profit Rose 16.5% Year-over-Year, Final Dividend of RMB 0.69

Kuaishou (01024)
Announces full-year results as of the end of last year, with shareholders’ profit attributable to approximately HKD 18.617 billion (RMB equivalent), up 21.4% year-on-year; adjusted net profit of HKD 20.647 billion, up 16.54% year-on-year. Basic earnings per share are HKD 4.35; a final dividend of HKD 0.69 per share is also proposed, totaling about HKD 3 billion.

Total revenue for the period reached HKD 142.776 billion, an increase of 12.5% year-on-year. Gross profit was RMB 78.549 billion, up 13.4% year-on-year, with gross profit margin slightly rising from 54.6% in 2024 to 55%, reflecting effective cost control.

As of the end of last year, Kuaishou’s average daily active users reached 410.2 million. Revenue for the period increased 12.5% year-on-year to HKD 142.8 billion, with online marketing services revenue of HKD 81.462 billion, accounting for 57.1% of total revenue, a 12.7% increase from 2024, remaining the company’s main revenue source. Live streaming business revenue was HKD 39.087 billion, accounting for 27.4%, up 8% year-on-year. Other services (including e-commerce and other innovative businesses) generated HKD 22.227 billion, accounting for 15.5%, a 29.6% increase year-on-year, becoming the fastest-growing segment.

In the fourth quarter alone, adjusted net profit increased 16.2% year-on-year to HKD 5.46 billion. Total revenue grew 11.8% year-on-year to HKD 39.6 billion, with core business revenue—including online marketing services and other e-commerce-driven services—up 17.1% year-on-year.

AI Capabilities Have Become the Core Growth Engine

Kuaishou stated that despite increasing AI investments last year, the company’s overall profitability continued to steadily improve, with AI capabilities becoming the key driver of long-term growth.

Its multimodal video generation large model, called KeLing AI, achieved HKD 340 million in revenue in the fourth quarter of last year. Notably, in December 2025, KeLing AI’s monthly revenue exceeded USD 20 million, with an annualized revenue run rate (ARR) of USD 240 million.

In February 2026, the KeLing AI 3.0 series was launched, built on an All-in-One product concept, supporting full-modal input and output across text, images, audio, and video, seamlessly integrating video understanding, generation, and editing into a simplified AI workflow.

Looking ahead, as AI technology advances rapidly, the company will continue to deepen its AI strategy, increase AI investments, and further solidify Kuaishou’s position as a leading AI-powered content platform. Guided by the philosophy of “Technology as the foundation, User-centric,” the company will always focus on user needs, deepen AI integration, and help merchants and marketing clients improve operational efficiency.

Source: Hong Kong Stock Exchange Announcement