快手-W(01024):重申"买入"评级,目标价94港元 美银美林 美银发布研报称，重申快手-W(63.6,-2.75,-4.14%)(01024)"买入"评级，予目标价94港元，认为市场对 竞争的担忧可能有些过头。 该行预计快手2025年第四季业绩将符合预期，并维持先前的预测。预期收入同比增10%至389亿元人民币 (下同)，调整后净利同比增15%至54亿元。预计广告/电商收入将同比增13%及17%。预期快手可灵(Kling)业务 第四季营收为3.7亿元，高于先前预测的3.3亿元。 ...

Core Insights - Kuaishou's 2026 Spring Festival activities concluded with record high DAU, marking the second consecutive year of peak performance during the festival [1] User Engagement - The "Shake to Get Red Packets" feature saw user participation increase by over 60% year-on-year [1] - The "Exchange Red Packets" feature had an average of over 10 exchanges per user [1] Regional Popularity - The "Fortune Code" became a new way to send New Year greetings, with Chongqing, Harbin, and Changchun being the top three cities for scanning codes [1] Participation Metrics - Nearly 80 million users engaged in the "Fire Corgi Celebrates the New Year" and "New Year Friend Money Flower" activities [1]

Group 1 - Kuaishou's 2026 Spring Festival activities concluded with record high DAU, driven by features like "Shake the Fortune Tree" and themed activities [1][2] - This marks the second consecutive year that Kuaishou has achieved peak DAU during the Spring Festival [1][2]

格隆汇2月27日丨快手-W(01024.HK)宣布，将于2026年3月25日(星期三)举行董事会会议，藉以考虑及批 准(其中包括)集团截至2025年12月31日止年度的综合全年业绩。 ...

Core Viewpoint - Kuaishou Technology will report its financial results for the fourth quarter and full fiscal year ended December 31, 2025, on March 25, 2026, after the Hong Kong market closes [1] Group 1: Financial Reporting - The financial results announcement will take place after the Hong Kong market closes on March 25, 2026 [1] - A conference call will be hosted by the company's management on the same day at 7:00 PM Beijing Time (7:00 AM U.S. Eastern Time) to discuss the results [1] - Participants are required to pre-register for the conference call, with options for Chinese and English simultaneous interpretation [1] Group 2: Company Overview - Kuaishou is a leading content community and social platform in China and globally, focusing on customer obsession [1] - The company leverages cutting-edge AI technology to drive innovation and enhance its service offerings [1] - Kuaishou's platform allows users to share their lives, discover goods and services, and showcase their talents through short videos and live streams [1] - The company collaborates with content creators and businesses to provide technologies, products, and services across various sectors, including entertainment, online marketing, e-commerce, and gaming [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 承董事會命 快手科技 董事長 程一笑先生 香港，2026年2月27日 於本公告日期，董事會包括執行董事程一笑先生及宿華先生；非執行董事李朝暉先生、張斐先生 及王慧文先生；獨立非執行董事黃宣德先生、馬寅先生及盧蓉女士。 Kuaishou Technology 快手科技 （港幣櫃台股份代號：01024╱人民幣櫃台股份代號：81024） （於開曼群島註冊成立以不同投票權控制的有限公司） 董事會會議召開日期 快手科技（「本公司」，連同其附屬公司及合併聯屬實體，統稱「本集團」）董事會（「董 事會」）謹此宣佈將於2026年3月25日（星期三）舉行董事會會議，藉以考慮及批准（其 中包括）本集團截至2025年12月31日止年度的綜合全年業績。 ...

Group 1: Market Overview - The Hang Seng Index opened high but closed down 384 points, or 1.44%, at 26,381 points, with significant selling pressure observed throughout the day [3][4] - The market saw a total turnover of 25.93 billion HKD, with net outflow from northbound trading amounting to 736.6 million HKD [3] Group 2: Company Performance - NIO's subsidiary GeniTech secured over 2.257 billion RMB in investment from Chinese investors, maintaining a 62.7% controlling stake post-transaction [12] - New World Department Store China reported a 3.93 times increase in interim profit to 15.327 million HKD, despite a 12.44% decrease in revenue to 536 million HKD [13] - Chow Tai Fook Jewelry Group announced a 15.26% increase in interim profit to 1.334 billion HKD, with revenue rising 5.9% to 12.827 billion HKD [14] - Baidu reported a 65.68% decrease in net profit to 1.782 billion RMB for the fourth quarter, with total revenue declining 4.06% to 32.74 billion RMB [15] Group 3: Industry Developments - Hong Kong Exchanges and Clearing is exploring the development of a multi-asset tokenization platform, contingent on technological capabilities and market demand [7] - The People's Bank of China issued a notice to enhance the management of RMB cross-border interbank financing, aiming to improve transparency and stability in offshore RMB liquidity [10] - The Hong Kong government plans to inject 10 billion HKD into the Hong Kong-Shenzhen Innovation and Technology Park and the New Territories Science Park to bolster public-private partnerships [9]

Market Overview - On Thursday, the three major U.S. stock indices showed mixed performance, while the Hang Seng Index ADR rose, closing at 26,429.77 points, an increase of 48.75 points or 0.18% compared to the Hong Kong market close [1]. Company Performance - Major blue-chip stocks exhibited varied performance: HSBC Holdings closed at HKD 147.859, up 1.97% from the Hong Kong market close; Tencent Holdings closed at HKD 513.204, up 0.24% [3]. - Tencent Holdings reported a price of HKD 512.000, with a decline of 2.01%, while its ADR price was 513.204, reflecting a 0.24% increase [4]. - Alibaba Group's stock price was HKD 143.000, down 3.57%, with its ADR at 144.779, showing an increase of 1.779% [4]. - HSBC's stock price was HKD 145.000, up 1.61%, with its ADR at 147.859, reflecting a 1.97% increase [4]. - China Ping An's stock price decreased by 4.64% to HKD 67.850, while its ADR showed a slight increase of 0.49% [4]. - Meituan's stock price fell by 2.72% to HKD 80.450, with its ADR showing a minimal change of -0.03% [4].

Core Insights - The article highlights the evolving meaning of the Chinese New Year, emphasizing the importance of personal connections and community over mere traditional celebrations [6][14][20] Group 1: Personal Stories and Connections - The narrative includes personal stories of individuals returning home for the New Year, illustrating the emotional significance of family and belonging [5][21] - The experiences of a railway engineer and a philosophy professor serve as a backdrop to discuss the deeper meaning of home and the New Year [3][6] - The article emphasizes that the essence of the New Year is not just nostalgia but the tangible connections between people and their roots [6][14] Group 2: Technological Integration and Community Engagement - The integration of technology, particularly through platforms like Kuaishou, enhances the celebration by creating interactive experiences and community connections [16][18] - Kuaishou's initiatives, such as live streaming local festivities and interactive features, have significantly increased user engagement during the New Year period [16][19] - The platform's role in amplifying personal stories and community narratives during the festive season is highlighted, showcasing a shift from traditional to digital celebrations [20][21] Group 3: Cultural Representation and Accessibility - The article discusses how Kuaishou's initiatives democratize cultural participation, allowing ordinary individuals to share their stories and traditions [19][20] - Events like the Kuaishou Winter Games illustrate the blending of professional sports with community engagement, making winter sports accessible to a broader audience [18][19] - The platform serves as a medium for cultural exchange, showcasing diverse traditions and personal narratives during the New Year [20]

Core Insights - On February 26, 2026, Alibaba-W (09988), Tencent Holdings (00700), and Yangtze Optical Fibre and Cable (06869) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 4.492 billion, 3.391 billion, and 2.065 billion respectively [1] - The same companies also led in trading volume in the Shenzhen-Hong Kong Stock Connect, with trading amounts of 4.376 billion, 3.171 billion, and 1.531 billion respectively [1] Southbound Stock Connect Trading Activity - **Top Active Companies**: - Alibaba-W (09988): Trading amount of 4.492 billion, net buy of -0.231 billion [2] - Tencent Holdings (00700): Trading amount of 3.391 billion, net buy of +37.9726 million [2] - Yangtze Optical Fibre and Cable (06869): Trading amount of 2.065 billion, net buy of -0.246 billion [2] - SMIC (00981): Trading amount of 1.740 billion, net buy of -0.221 billion [2] - CNOOC (00883): Trading amount of 1.709 billion, net buy of -0.626 billion [2] Shenzhen-Hong Kong Stock Connect Trading Activity - **Top Active Companies**: - Alibaba-W (09988): Trading amount of 4.376 billion, net buy of -0.657 billion [2] - Tencent Holdings (00700): Trading amount of 3.171 billion, net buy of -0.587 billion [2] - Yangtze Optical Fibre and Cable (06869): Trading amount of 1.531 billion, net buy of -0.379 billion [2] - Xiaomi Group-W (01810): Trading amount of 1.351 billion, net buy of +27.0028 million [2] - Kuaishou-W (01024): Trading amount of 0.808 billion, net buy of -0.06332 billion [2]