Core Viewpoint - Kuaishou's recent operational challenges, particularly in its gaming segment, highlight systemic weaknesses in its risk control mechanisms, leading to significant market repercussions and a decline in user confidence [1][3]. Group 1: Company Overview - Kuaishou's user base has grown significantly, reaching an average daily active user count of 416 million by Q3 2025, showcasing its strong market presence [4]. - The company initially entered the gaming sector in 2017 with the launch of "Kuaishou Electric Ball," which struggled to gain traction and was eventually shut down in 2022 [5][7]. - Kuaishou's gaming strategy has evolved, with the establishment of a dedicated gaming division in 2021, aiming to consolidate its gaming operations under a more professional governance structure [8]. Group 2: Gaming Business Challenges - The launch of "Danzhi Universe" aimed to streamline Kuaishou's gaming efforts, but it has faced significant challenges, including project cancellations and layoffs, particularly after the underperformance of key titles [9][10]. - Kuaishou's gaming products, such as "Endless Dream Return" and "Super Time Run," have not met market expectations, with both titles failing to achieve sustainable long-term success [12][13]. - The company's approach to gaming has been characterized by a focus on smaller, less risky projects, but this strategy has not translated into substantial revenue growth [10][12]. Group 3: Industry Context - The gaming industry presents unique challenges for platforms like Kuaishou, which traditionally focus on short video content, as the operational and organizational demands differ significantly [20]. - Comparatively, Tencent's gaming success is attributed to its integrated platform evolution, which contrasts with Kuaishou's fragmented approach, leading to governance and operational difficulties [20]. - The recent "black and gray industry" incident underscores the vulnerabilities within Kuaishou's operational framework, revealing the potential for systemic issues to impact overall business performance [1][20].

资金面上看，今日快手概念板块获主力资金净流入63.36亿元，其中，30股获主力资金净流入，9股主力 资金净流入超亿元，净流入资金居首的是蓝色光标，今日主力资金净流入27.62亿元，净流入资金居前 的还有利欧股份、易点天下、首都在线等，主力资金分别净流入25.99亿元、2.04亿元、1.54亿元。 资金流入比率方面，利欧股份、蓝色光标、首都在线等流入比率居前，主力资金净流入率分别为 47.49%、24.74%、11.22%。（数据宝） 截至12月31日收盘，快手概念上涨2.49%，位居概念板块涨幅第2，板块内，37股上涨，蓝色光标20%涨 停，利欧股份涨停，易点天下、宣亚国际、值得买等涨幅居前，分别上涨10.23%、8.20%、6.98%。跌 幅居前的有线上线下、青鸟消防、百纳千成等，分别下跌5.73%、4.28%、3.48%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 小红书概念 | 2.88 | 硅能源 | -1.03 | | 快手概念 | 2.49 | 有机硅概念 | -0.99 | | 中船系 | ...

随着农历新年的脚步临近，年货消费市场正蓄势待发，品牌商家也将迎来抢占用户心智、沉淀长期资产的黄金节点。快手凭借独特的"老铁"社区文化、真实 多元的内容生态和高效转化的商业基础设施，早已成为品牌春节营销的主阵地。2025年春节期间，快手用户互动量高出平日14%，R3人群转化周期比平日快 26%，新客ARPU更是高出平日101%，为商家创造了天然的增长土壤。亿万用户在这里分享年味、连接情感、边逛边买。 为助力广大商家全域突破、制胜年货赛道，快手磁力引擎全面启动2026年货节营销战役，正式发布从蓄水造势到预热爬坡、销量引爆的全景作战指南。通过 金牛策略、品聚策略、数据经营三大支柱，结合千万级激励政策与创新玩法，为全行业商家提供从人群种草到销量爆发的全链路解决方案，助力品牌在新春 赛道实现声量与生意的双重突破。 作为快手全域生意加速器，金牛策略围绕"货品储备 - 人群蓄水 - 场景提效"层层递进，助力商家精准把握增长节奏。在备战阶段，借助"选品罗盘"的深度数 据预测与爆品榜单，帮助商家先人一步锁定年货节潜力爆款。进入预热期，则通过系统化的粉丝蓄水、高价值品牌R3人群积累以及大场直播预约，让商家 能够提前锚定最具转化潜 ...

格隆汇12月31日丨快手-W(01024.HK)公告，12月31日耗资1972.42万港元回购31万股，每股回购价63.3- 63.75港元。 ...

快手-W(01024)发布公告，于2025年12月31日斥资1972.4万港元回购31万股。 于2025年12月31日因根据首次公开发售前雇员持股计划行使期权而发行3330股。 ...

智通财经APP讯，快手-W(01024)发布公告，于2025年12月31日斥资1972.4万港元回购31万股。 于2025年12月31日因根据首次公开发售前雇员持股计划行使期权而发行3330股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 快手科技（於開曼群島註冊成立以不同投票權控制的有限公司） 呈交日期： 2025年12月31日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 不同投票權架構公司普通股 | | 股份類別 | B | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 01024 | 說明 | | | | | | | | 多櫃檯證券代號 | 81024 | RMB 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | ...

作者 | 王小娟 编辑 | 周智宇 快手又现核心高管变动。 12月30日，有消息称，快手科技副总裁、基础大模型及推荐模型负责人周国睿即将离职。据了解，周国 睿的内部系统状态已显示为"休假"，个人签名改为"Log Out"。截至发稿前，快手官方还未对该事件做 出回应。 在AI技术高管频繁离职的同时，快手平台的技术防线也面临严峻考验。 在快手2025年Q1财报电话会上，公司创始人兼首席执行官程一笑将AI明确为公司的 "第二增长曲线"。 而当前，周国睿的离职触动了市场对快手AI战略连续性的敏感神经。 周国睿在快手的四年任职期，正是快手AI战略从萌芽到全面推进的关键阶段。作为北京邮电大学模式 识别实验室的硕士毕业生，他曾在阿里妈妈事业部担任高级算法专家，专注于深度学习在广告排序中的 应用。 2021年加入快手后，周国睿迅速成为公司AI技术革新，尤其是推荐系统优化的核心人物。 他最具标志性的贡献是主导研发了生成式端到端推荐架构OneRec。这一系统颠覆了传统推荐系统采用 多阶段拼接的"级联"架构，通过统一建模与链路压缩，实现了"更大模型、更低成本"的突破。 据公开信息，该系统将服务成本降至原系统的1/10，并已在短视频 ...

周国睿（图源：脉脉） 智东西12月31日消息，昨天，据申妈的朋友圈报道，多个独立信源透露，快手科技副总裁、基础大模型及推荐模型负责人周国睿即将离职，他 在内部系统已显示为休假状态，签名改为Log Out。有消息说他会加入Meta，也有消息称会加入TikTok。 职场平台脉脉的信息显示，2021年加入快手前，周国睿曾在阿里妈妈担任高级算法专家。加入快手后，他担任直播、本地生活推荐负责人，并 于2024年升任快手副总裁，担任推荐模型部、基础大模型与应用部和本地生活推荐部负责人。 在阿里妈妈任职期间，周国睿曾是阿里妈妈广告业务的算法框架X-Deep Learning（XDL）的核心设计开发者、推荐模型DIN、DIEN的作者。 在快手任职期间，周国睿带领团队探索了生成式AI技术在推荐系统当中的应用，主要成果为OneRec。 2025年，快手的端到端大模型推荐系统OneRec已在快手主站、极速版及电商等多场景落地，带来显著的业务提升。这套基于大模型的生成式 推荐系统，是行业第一个将算法推荐从多阶段、分层筛选模式全面切换到端到端大模型生成的工业级解决方案。 户出自 VO THIL 副总裁 1 快手 U 1 XDL核心设计 ...

Group 1 - The news reports that Kuaishou Technology's Vice President, Zhou Guorui, who is responsible for foundational models and recommendation models, is set to leave the company, with his internal status showing "on leave" and personal signature changed to "Log Out" [2] - Zhou Guorui has a strong academic and industry background, having previously worked as a senior algorithm expert at Alibaba and published research in top international conferences [2] - His departure is significant due to his central role in Kuaishou's AI strategy, having joined the company in 2021 and led the development of the OneRec architecture, which achieved a major breakthrough in the recommendation system [2] Group 2 - Zhou Guorui's potential departure is part of a broader trend, with at least six other vice president-level technical executives leaving Kuaishou since 2025, covering key areas such as recommendation algorithms and commercialization [3] - Despite being viewed as a "second growth curve" by Kuaishou's CEO, the commercialization progress of AI products has been below expectations, with the AI product "Keli" generating only 250 million yuan in revenue in Q2 2025, accounting for 4.8% of total revenue [3] - The AI business faces challenges including unstable generation quality, unestablished user habits, and intense competition [3]