Core Viewpoint - Kuaishou-W (01024) has seen a significant stock price increase, with a rise of 6.7% to HKD 77.2, and a trading volume of HKD 50.79 billion, driven by positive developments in its AI technology [1] Group 1: Company Developments - Kuaishou's AI product, Keling AI, has gained notable media attention, appearing on major Chinese news programs, which has contributed to its visibility and user growth [1] - Keling AI has undergone over 30 iterations in the past year, enhancing its video generation capabilities, and has achieved a global user base exceeding 45 million, doubling in just three months [1] Group 2: Industry Insights - During the World Artificial Intelligence Conference (WAIC) 2025, Kuaishou hosted an ecological forum focused on the theme of "The Year of Generative AI Applications," discussing the empowerment of various industries such as film, e-commerce, and gaming through AI [2] - Kuaishou's senior vice president, Gai Kun, reported that the monthly user payment revenue surpassed RMB 100 million in April, positioning the company as a leader in the global video generation sector [2]

Group 1 - The Hang Seng Technology Index experienced a significant decline, with the largest ETF tracking this index also following suit, led by stocks such as Meituan and BYD, while Kuaishou and other companies showed gains [1] - Kuaishou's AI division, Keling AI, reported having over 45 million creators globally and has generated over 200 million videos and 400 million images since its launch, indicating strong growth in its AI application [1] - Citigroup's research report anticipates Kuaishou's Q2 2025 earnings report to be positive, driven by the unexpected commercialization of its video generation model and an expected acceleration in advertising revenue growth [1] Group 2 - As of July 30, the latest valuation of the Hang Seng Technology Index ETF was 21.71 times, indicating that it is currently undervalued compared to historical levels, suggesting potential upward momentum for high-growth stocks [2] - The Hang Seng Technology Index remains in a historically undervalued range, making it an attractive option for investors looking to gain exposure to core AI assets in China [2]

Group 1 - Kuaishou-W (01024) saw a significant stock price increase, with a peak rise of 9% and a current price of 77.2 HKD, with a trading volume of 5.079 billion HKD [1] - The AI model Keling AI has undergone over 30 iterations in the past year, showcasing continuous improvements in video generation capabilities, with a global user base exceeding 45 million, doubling in just three months [1] Group 2 - During the World Artificial Intelligence Conference (WAIC) 2025, Kuaishou's Keling AI hosted an ecological forum focused on the theme of "The Year of Generative AI Applications," discussing AI's empowerment in various industries such as film, e-commerce, and gaming [2] - Kuaishou's monthly user payment revenue surpassed 100 million RMB in April, positioning the company as a leader in the global video generation sector, aiming to cover user service costs and expand its user base [2]

Market Overview - The Hong Kong stock market showed mixed performance with the Hang Seng Index down by 1.07% at 24,906.39, and the Hang Seng China Enterprises Index down by 1.03% at 8,944.74, while the Hang Seng Tech Index rose by 0.34% to 5,509.61, supported by a rebound in tech stocks [1] Stock Performance - Notable gainers included Meituan with a 15.26% increase, and other companies like Quanta International and Kuaishou also saw significant rises of 11.71% and 8.98% respectively [2] - Major tech stocks experienced a shift from decline to increase, with Kuaishou rising nearly 9%, Tencent up by 1.46%, and NetEase and Alibaba also showing positive performance, while Meituan fell nearly 4% [3] Sector Movements - The gold sector faced declines as investors shifted funds from gold ETFs to domestic stocks, with Tongguan Gold dropping 8.6% marking its sixth consecutive decline [3] - Real estate sales continued to decline year-on-year, leading to a drop in property stocks, with major players like Country Garden and Vanke seeing significant losses [3] - Other sectors such as home appliances, automobiles, photovoltaic, coal, building materials, and insurance stocks also experienced downward trends [3] Gambling Sector - UBS reported that Macau's July gaming revenue exceeded market expectations, while Thailand recently withdrew a casino legalization bill, leading to a rise in gaming stocks [3]

Market Overview - The Hong Kong stock market showed mixed results with the Hang Seng Index down by 1.07% to 24,906.39 points, while the Hang Seng Tech Index increased by 0.34% and the National Enterprises Index fell by 1.03% [2] Key Stock Movements - Kuaishou saw a significant increase of nearly 9%, while Bilibili rose over 2%. Conversely, Meituan and Xiaomi both dropped over 2%, and JD.com also experienced a decline [2] - AI-related stocks performed well, with Meitu rising over 15%. Oriental Securities expressed optimism about user growth and commercialization of vertical AI products in the second half of the year, particularly for companies with overseas AI applications [2] - Biopharmaceutical B-shares were active, with Lepu Biopharma increasing over 4%. The National Healthcare Security Administration discussed support for innovative drug development with Singapore's GIC [3][4] Gold and Real Estate Sector Performance - Gold stocks continued to decline, with Tongguan Gold dropping over 8%. Recent trends indicate a shift in investor sentiment away from gold towards stocks, as gold prices fell below $3,270 per ounce [4][5] - The real estate sector faced significant declines, with Country Garden falling over 6%. A recent meeting of the Central Political Bureau highlighted limited focus on real estate, emphasizing the need for high-quality urban renewal [6][7]

长江证券发布研报称，发布一年以来可灵AI已经历过30余次迭代，且视频生成能力居于全球领先地 位。此外，值得一提的是，7月27日，在WAIC 2025现场可灵AI宣布，即日起"灵动画布1.0"开启邀请测 试，2025Q3将推出面向专业团队和企业的"工作室会员"。该行认为，当前"灵动画布"还处于1.0版本， 未来可灵AI还将持续完善其创作全链路的能力覆盖并融入Agent能力，实现从AI素材生成器到全新AI创 意工作台的飞跃。 快手-W（01024）早盘持续走高，股价现涨7.46%，报77.80港元，成交额33.90亿港元。 ...

快手盘中涨逾8%，创下逾一周盘中最大升幅。摩根士丹利将快手目标价上调12%至67港元，并预计公 司营收将同比增长12%，经调整净利润增长10%；乐观和悲观情形下，目标价分别为91港元和44港元。 ...

Group 1 - Kuaishou-W (01024) saw a stock price increase of over 3%, currently trading at 74.55 HKD with a transaction volume of 836 million HKD [1] - According to Changjiang Securities, Keling AI has undergone over 30 iterations since its launch, maintaining a leading position in video generation capabilities globally [1] - Keling AI announced the launch of "Ling Animation Canvas 1.0" for invitation testing, with a professional team and enterprise version expected in Q3 2025 [1] Group 2 - Citigroup analysts predict that Kuaishou will release its Q2 2025 financial report in late August, with optimistic projections based on two main factors [2] - The commercialization of Keling AI's video generation model has exceeded expectations, with monthly revenue surpassing 100 million RMB in April and May, indicating potential for annual revenue to significantly exceed the management's guidance of 100 million USD [2] - The advertising revenue growth is expected to accelerate to 12.3% in Q2, driven by increased advertising spending from e-commerce merchants and a recovery in non-e-commerce advertising demand [2]

Group 1 - The core viewpoint is that Hong Kong tech stocks are experiencing a significant upward trend, with Kuaishou rising over 7% and Bilibili increasing more than 3% [1] Group 2 - Kuaishou's stock performance indicates strong investor interest and potential growth in the tech sector [1] - Bilibili's rise also reflects positive market sentiment towards technology companies in Hong Kong [1]

智通财经7月31日电，港股科网股持续上扬，快手涨超7%，哔哩哔哩涨超3%。 ...