1、恆指：投資者看多情緒高漲，認為國慶期間沖28000沒太大問題，持有牛證，收回價25050 Simon:指數升至26855點，全日收在高位。目前恆指的技術信號為"賣出"。數據系統分析的27200點和27500是目前兩個阻力位。假設會調整的話，參考下方 的支持位在26200點和25500點，兩個支持位可以給大家參考。 恆指 (HSI) | | | 恆指(HSI)衍生品回顧 68% 35% 33% 2.78% 2.78% 2.78% 端銀認購證 瑞銀牛證 摩通認購證 18783 55354 19413 蛋商堡 2、快手-W (01024.HK)：創新高，投資者問後市有機會直上90元嗎？持有行使價91.05元的認購證 快手 (01024) 買入信號 信號總結 賣出信號 中立信號 重品 7 9 5 官閱翻 快手(01024)衍生品回顧 109% 107% 89% 11.90% 11.90% 11.90% 瑞銀認購證 中銀認購證 滙豐牛證 15122 61399 15154 3、嗶哩嗶哩-W (09626.HK)：投資者問股價波動這麼大，本週可以上到230元嗎？也有投資者選擇220做空至200。 Simon:高見22 ...

【#快手商业生态体系升级##快手成立生活服务事业部#】快手发布公告表示，为了更好地服务长效经营 的商家，迎接未来增长机会，决定对现有商业体系相关组织进行迭代升级。基于电商、生活服务、商业 化三大核心商业场景，快手对原商业化、本地、电商团队的相关业务进行重构。 公开资料显示，刘逍2020年加入快手，在快手5年半期间，前后担任内容运营中心、房产和招聘业务中 心、商业化外循环和基础产品部、快手内容消费和线索广告产品部、快手联盟产品部多个业务负责人。 原商业化事业部下内循环产品、运营、销售等相关行业团队，则调整到电商事业部。通过将电商业务与 内循环广告业务做整合，构建"流量-交易-广告转化-商家服务"的闭环能力，可以更好地提升流量分配效 率，平衡用户体验、商家成长和商业变现，为商家提供更一体化的服务体验。 本次调整后，商业化事业部将为平台做好广告中台能力的支撑，同时聚焦发展内容消费、综合平台、品 牌营销、聚星、快手联盟等业务。 快手方面表示，此次调整是为了让业务目标更明确，业务策略更一致，资源投入更聚焦，业务组织协同 更敏捷，从而进一步提升公司商业体系的组织效率和商业变现效率。 本次调整中，本地生活事业部正式更名为生 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][11]. Core Views - The company is expected to leverage its upgraded 2.5 Turbo model, which combines performance enhancements with a 30% price reduction, to drive user growth and revenue increase [2][3]. - AI is enhancing the core business efficiency, with the commercial system being restructured to provide long-term growth momentum [2]. Financial Forecast and Investment Recommendations - The adjusted net profit forecast for the company from 2025 to 2027 is projected to be CNY 196 billion, CNY 230 billion, and CNY 259 billion respectively [4]. - The target price is set at HKD 99.07 per share, based on a 17x PE valuation for 2026, leading to a reasonable value of CNY 3,911 billion, equivalent to HKD 4,281 billion [4][11]. - The company's revenue is expected to grow from CNY 113.47 billion in 2023 to CNY 166.83 billion in 2027, reflecting a compound annual growth rate [4][15]. Key Financial Metrics - Revenue growth rates are projected at 20.5% for 2023, 11.8% for 2024, and gradually declining to 7.8% by 2027 [4][15]. - The gross margin is expected to improve from 50.6% in 2023 to 56.8% in 2027, indicating enhanced profitability [4][15]. - The net profit margin is projected to increase from 5.6% in 2023 to 14.5% in 2027, showcasing improved efficiency [4][15].

智通财经APP讯，快手-W(01024)发布公告，于2025年9月30日，该公司注销213.7万股已回购股份。 ...

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9月30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 ...

【#快手本地生活事业部更名# 为生活服务事业部，#笑古卸任负责人# 】 公告还显示，原商业化事业部下内循环产品、运营、销售等相关行业团队，则调整到电商事业部。本次 调整后，商业化事业部将为平台做好广告中台能力的支撑，同时聚焦发展内容消费、综合平台、品牌营 销、聚星、快手联盟等业务。 快手方面表示，此次调整是为了让业务目标更明确，业务策略更一致，资源投入更聚焦，业务组织协同 更敏捷，从而进一步提升公司商业体系的组织效率和商业变现效率。 公开资料显示，刘逍2020年加入快手，前后担任内容运营中心、房产和招聘业务中心、商业化外循环和 基础产品部、快手内容消费和线索广告产品部、快手联盟产品部多个业务负责人。 快手CEO程一笑通过署名的全员邮件向员工宣布了笑古卸任的消息，并表示对其所做出的贡献表示感 谢。 新京报贝壳财经讯（记者韦英姿）9月30日，快手发布公告，决定对现有商业体系相关组织进行迭代升 级，对原商业化、本地、电商团队的相关业务进行重构。本次调整中，本地生活事业部正式更名为生活 服务事业部。本地生活业务将与线索广告业务整合，原商业化事业部下线索广告相关的行业团队、产品 团队及相关中台团队调整至生活服务事业部下 ...

Core Viewpoint - Kuaishou has undergone a new round of organizational restructuring focused on its e-commerce, life services, and commercialization sectors, indicating a strategic shift towards enhancing local business synergy within its commercial ecosystem [1][2]. Group 1: Organizational Changes - Kuaishou has restructured its commercialization and local e-commerce teams, with the local life division officially renamed to the life services division [1]. - The local life business will integrate with the lead advertising business, with relevant teams transferred to the life services division, now led by Liu Xiao, who reports to senior vice president Wang Jianwei [1]. - The original commercialization division will focus on supporting advertising capabilities and will concentrate on content consumption, comprehensive platforms, and brand marketing [1]. Group 2: Leadership Changes - CEO Cheng Yixiao announced the resignation of Xiao Gu from the life services division, who will transition to a business consultant role [2]. - Xiao Gu was instrumental in building the e-commerce team from scratch and has contributed to significant growth in Kuaishou's e-commerce GMV and user base [2]. Group 3: Business Developments - Kuaishou has recently launched an independent "takeout" entry on its group purchase page, allowing users to place orders through third-party mini-programs for delivery [2]. - In Q2 of this year, the number of paying users for Kuaishou's local takeout services increased by over three times compared to the previous quarter [2].

本次调整后，商业化事业部将为平台做好广告中台能力的支撑，同时聚焦发展内容消费、综合平台、品 牌营销、聚星、快手联盟等业务。 公告同时宣布，笑古将不再担任本地生活事业部负责人，转任公司业务顾问，公司对笑古所做出的贡献 表示衷心感谢。 9月30日，快手发布公告表示，为了更好地服务长效经营的商家，迎接未来增长机会，决定对现有商业 体系相关组织进行迭代升级。基于电商、生活服务、商业化三大核心商业场景，快手对原商业化、本 地、电商团队的相关业务进行重构。 快手CEO程一笑通过署名的全员邮件向员工宣布了笑古卸任的消息，并在全员信中表示，笑古从零开始 搭建电商团队，坚定推行"信任电商"，实现了快手电商GMV和用户规模的显著增长；2022年，笑古勇 挑重担，出任本地生活事业部负责人。再次从零搭建业务体系和商业模式，在激烈的市场竞争中为快手 开辟了"进场零售"新的可能性。"笑古自2019年加入公司以来，始终保持着创业者般的激情与坚韧，为 快手商业体系的构建和发展做出了重要贡献。" 快手方面表示，此次调整是为了让业务目标更明确，业务策略更一致，资源投入更聚焦，业务组织协同 更敏捷，从而进一步提升公司商业体系的组织效率和商业变现效 ...

人民财讯9月30日电，9月30日，快手发布公告，宣布对公司商业生态体系相关组织进行升级，对原本 地、电商、商业化等团队的相关业务场景进行重构，更好地服务长效经营的商家。本次调整中，本地生 活事业部正式更名为生活服务事业部，本地与线索广告相关业务并入该事业部；原商业化内循环电商广 告相关业务并入电商事业部；调整后的商业化事业部将为平台做好广告中台能力的支撑，同时聚焦发展 内容消费、综合平台等业务。 ...

Core Viewpoint - Kuaishou's stock reached a new high since July 2022, closing at 84.6 HKD, up 7.22% after announcing a restructuring of its commercial system to enhance operational efficiency and better serve merchants [1] Group 1: Business Restructuring - Kuaishou announced an upgrade of its existing commercial system to focus on three core business scenarios: e-commerce, life services, and commercialization [1] - The restructuring aims to clarify business objectives, unify strategies, concentrate resource allocation, and enhance organizational collaboration for improved efficiency in commercial monetization [1] - The local life division has been renamed to the life services division, integrating local life business with lead advertising operations [1] Group 2: Leadership Changes - Liu Xiao has been appointed as the head of the life services division, reporting to Kuaishou's Senior Vice President Wang Jianwei [1][2] - The previous head of the local life division, Xiao Gu, will transition to a business consultant role, with the company expressing gratitude for his contributions [3] - Xiao Gu played a significant role in building Kuaishou's e-commerce team and expanding its gross merchandise volume (GMV) and user base [3] Group 3: Strategic Integration - The adjustment will enhance collaboration between local business and advertising, providing a comprehensive service for merchants [2] - The integration of e-commerce and internal advertising operations aims to create a closed-loop capability for traffic, transactions, advertising conversion, and merchant services [2] - The commercial division will focus on supporting advertising capabilities while developing content consumption, comprehensive platforms, brand marketing, and Kuaishou Alliance [2]