Investment Rating - The report maintains a "Buy" rating for the company [5][10]. Core Insights - The company is expected to achieve adjusted net profits of CNY 204 billion, CNY 225 billion, and CNY 259 billion for the years 2025 to 2027, respectively. The valuation for 2026 is set at 18x PE, leading to a target price of HKD 103.20 per share [3][10]. - The launch of the KOL 2.6 action control feature has significantly increased the company's influence in overseas markets, with notable download spikes in countries like South Korea and India [9]. - The company anticipates a steady revenue growth of 9% in 2026, reaching CNY 154.9 billion, with advertising and other business segments expected to grow by 10% and 21%, respectively [9]. Financial Summary - The company's projected financials for 2023 to 2027 are as follows: - Revenue (CNY million): 113,470 (2023), 126,898 (2024), 142,053 (2025), 154,873 (2026), 167,518 (2027) [4]. - Adjusted Net Profit (CNY million): 6,396 (2023), 15,335 (2024), 18,287 (2025), 21,457 (2026), 24,770 (2027) [4]. - Earnings per Share (CNY): 1.48 (2023), 3.56 (2024), 4.26 (2025), 5.00 (2026), 5.77 (2027) [4]. - Gross Margin (%): 50.6% (2023), 54.6% (2024), 55.1% (2025), 56.3% (2026), 56.8% (2027) [4].

Group 1 - Kuaishou concept stocks rose by 8.65%, ranking 6th in concept sector gains, with 46 stocks increasing in value [1] - Notable gainers in the Kuaishou concept include Zhongwen Online and Meiri Interactive, both reaching a 20% limit up, while Liou Co., Zhejiang Wenlian, and Shengguang Group also hit the limit up [1] - The Kuaishou concept sector saw a net inflow of 2.847 billion yuan, with 36 stocks receiving net inflows, and 9 stocks exceeding 100 million yuan in net inflow [1] Group 2 - The top net inflow stocks in the Kuaishou concept include Zhongwen Online with 632 million yuan, followed by Meiri Interactive with 368 million yuan, and Zhidema with 238 million yuan [2] - The net inflow ratios for leading stocks are as follows: Yilv Media at 70.24%, Liou Co. at 65.15%, and Vision China at 48.00% [2] - Other notable stocks with significant net inflows include Sanwei Communication and Shengguang Network, with net inflows of 224 million yuan and 102 million yuan respectively [3]

Group 1 - Kuaishou's stock surged by 7.43% to HKD 80.25, reaching a new high with a trading volume of HKD 6.691 billion, and has increased over 25% year-to-date, leading the Hong Kong tech sector [1] - The recent popularity of Kuaishou's AI feature, "Keling AI," has sparked a creative trend on social media, particularly with the viral "pet dancing" videos spreading globally from South Korea [1] - Multiple international investment banks have reassessed Kuaishou's positioning and value in the generative AI sector, with JPMorgan highlighting its advantageous position and potential as one of the most undervalued AI stocks globally [1] Group 2 - Goldman Sachs noted that the recent upgrades to Keling AI are expected to enhance overseas user recognition and monetization efficiency, leading to increased revenue expectations for Kuaishou in fiscal year 2026 [1] - Macquarie identified Kuaishou as a core player in AI applications by 2026, emphasizing its differentiated advantages in video generation models amid growing demand from professional users and enterprises [1] - Current market pricing suggests that Kuaishou's main platform valuation remains reasonable, while its AI business has not been fully reflected, indicating potential for further revaluation as commercialization accelerates [2]

Group 1 - Kuaishou-W (01024) experienced a strong increase, closing up 7.43% at HKD 80.25 per share, marking a new high for the period, with a trading volume of HKD 6.691 billion. The stock has risen over 25% year-to-date, leading the Hong Kong tech sector [1] - The recent viral trend of "pet dancing" AI videos, driven by Kuaishou's Keling AI, has gained traction on overseas social platforms, spreading from South Korea globally [1] - Multiple international investment banks have recently reassessed Kuaishou's positioning and value in the generative AI sector, with JPMorgan highlighting its advantageous position and potential as one of the most undervalued AI stocks globally [1] Group 2 - Goldman Sachs noted that after the model upgrade of Keling AI in December, the platform is expected to enhance overseas user recognition and monetization efficiency, leading to increased revenue expectations for Kuaishou in fiscal year 2026, with projected revenues of over USD 140 million in 2025 and approximately USD 230-240 million in 2026 [1] - Macquarie included Kuaishou as a core target for AI applications in its Asian internet outlook report, emphasizing its differentiated advantages in video generation models amid growing demand from professional users and enterprises [1] - Several institutions pointed out that Kuaishou's main platform valuation remains relatively reasonable under current market pricing, while the AI business has not been fully reflected, indicating potential for further revaluation of the company's overall valuation as Keling AI commercializes [2]

Market Overview - The Hong Kong stock market indices experienced a strong performance, with the Hang Seng Index rising by 1.44% to close at 26,608.48 points, the Hang Seng Tech Index increasing by 3.10%, and the National Enterprises Index up by 1.90% [1][7]. Technology Sector - Technology stocks saw a broad increase, with Kuaishou rising over 7%, Meituan and Bilibili up by 6%, and Baidu and Alibaba increasing by over 5% [1][7]. AI Sector - AI concept stocks showed significant strength, particularly Zhihui, which surged over 31%. This wave of domestic AI large model companies going public is seen as a transition from the technical research phase to a stage where technology and commercialization are aligned, providing a basis for future financing and valuation of large model companies [3][8]. - According to a Frost & Sullivan report, the market size for China's large language models is projected to reach 5.3 billion yuan in 2024 and grow to 101.1 billion yuan by 2030, with a compound annual growth rate of 63.5% from 2024 to 2030 [3][8]. Entertainment Sector - The entertainment sector also performed well, with Dama Entertainment rising over 6%. As of January 9, 2026, the total box office (including pre-sales) surpassed 1 billion yuan. The upcoming release of "Fast and Furious 3" has heightened public interest in the Spring Festival box office, although the overall heat for the 2026 Spring Festival may not match that of 2025 [3][8]. Semiconductor Sector - The semiconductor sector experienced a positive trend, highlighted by the debut of OmniVision Technologies, which saw its stock rise over 16% on its first trading day. The company raised approximately 4.8 billion HKD through its IPO, with 10 cornerstone investors committing a total of 2.174 billion HKD, accounting for 45.28% of the global offering [4][9].

Group 1 - Hong Kong tech stocks showed strong performance in the afternoon session, with Kuaishou (01024.HK) rising nearly 7% [1] - Meituan (03690.HK) increased by over 6% [1] - Baidu (09888.HK) and Alibaba (09988.HK) both saw gains of over 5% [1] - Other companies such as NetEase-S (09999.HK) and Tencent Holdings (00700.HK) also experienced upward movement [1]

Group 1: Hang Seng Index (HSI) - The Hang Seng Index (HSI) closed at approximately 26,231 points on January 9, showing little change from the previous day, with a slight decrease in trading volume [1][2] - Optimistic investors predict the index could rise to around 26,400 points next week, while pessimistic investors foresee a drop to approximately 25,800 points [1][2] - Current support is around 25,769 points, and if the index rises, resistance levels could extend beyond 26,400 points to approximately 26,500 points or even 26,593 points [2] Group 2: HSBC Holdings (00005.HK) - HSBC's stock price has recently declined to around 124.8 HKD after reaching a high of approximately 129 HKD [10] - Technical signals indicate a neutral stance, suggesting it may not be an ideal time to invest or chase the stock [10] - The support level is around 119.6 HKD, and if it falls below this, it could drop further to approximately 114.8 HKD [10] Group 3: JD.com (09618.HK) - JD.com's stock price increased by about 2% on January 9, closing near the upper Bollinger Band [16] - The current resistance level is at 118.6 HKD, and if surpassed, the stock could rise to approximately 122.7 HKD [16] - Technical signals are predominantly bullish, indicating a favorable short-term outlook for investors [16] Group 4: Zhaojin Mining (01818.HK) - Zhaojin Mining's stock price reached a high of 35.9 HKD, closing at 35.58 HKD on January 9 [20] - The resistance level is around 37.1 HKD, and if broken, the stock could rise to approximately 39.9 HKD [20] - Technical signals are mainly bearish, suggesting caution for potential investors [20] Group 5: Kuaishou Technology (01024.HK) - Kuaishou's stock price rose by 3.89% on January 9, closing at approximately 74.7 HKD [26] - The resistance level is around 78 HKD, and a successful breakthrough could lead to a target of approximately 83.6 HKD [26] - Current technical signals are predominantly bearish, indicating a need for caution [26] Group 6: Luoyang Molybdenum (03993.HK) - Luoyang Molybdenum's stock price closed at 21.66 HKD on January 9, with a high near 22 HKD [31] - The resistance level is around 22.5 HKD, and a breakthrough could lead to a target of 23 HKD [31] - Technical signals are mainly bearish, suggesting a cautious approach for investors [31]

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 快手-W（01024）早盘涨超6%，本月内股价累计涨幅已超20%。截至发稿，股价上涨6.16%，现报79.30 港元，成交额31.14亿港元。 近期可灵AI凭借其"动作控制"功能在海外社交平台掀起创作热潮，从韩国蔓延至全球，成为国产AI出海 的新爆款。根据SensorTower的数据，2026年1月1-3日可灵AI的日均收入比2025年12月增长102%。摩根 大通表示，快手在生成式AI这一关键赛道占据领先地位，是全球最被低估的AI股之一。 高盛则表示，快手旗下可灵AI在去年12月的模式升级与新功能上线，预计将推动其在海外市场扩大用 户认可并提升营收，从而可能抬升快手2026财年的营收预期，并提振股价。分析师在报告中表示，对可 灵AI的营收预测为2025年逾1.4亿美元，2026年约2.3-2.4亿美元。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 责任编辑：卢昱君 高盛则表示，快手旗下可灵AI在去年12月的模式升级与新功能上线，预计将推动其在海外市场扩大用 户认可并提升营收，从而可能抬升快手2026财年的营收预期，并提振股价。分 ...

高盛则表示，快手旗下可灵AI在去年12月的模式升级与新功能上线，预计将推动其在海外市场扩大用 户认可并提升营收，从而可能抬升快手2026财年的营收预期，并提振股价。分析师在报告中表示，对可 灵AI的营收预测为2025年逾1.4亿美元，2026年约2.3-2.4亿美元。 快手-W(01024)再涨近5%，月内累计涨幅已超20%。截至发稿，涨4.15%，报77.8港元，成交额25.22亿 港元。 消息面上，近期可灵AI凭借其"动作控制"功能在海外社交平台掀起创作热潮，从韩国蔓延至全球，成为 国产AI出海的新爆款。根据SensorTower的数据，2026年1月1-3日可灵AI的日均收入比2025年12月增长 102%。摩根大通表示，快手在生成式AI这一关键赛道占据领先地位，是全球最被低估的AI股之一。 ...

消息面上，近期可灵AI凭借其"动作控制"功能在海外社交平台掀起创作热潮，从韩国蔓延至全球，成为 国产AI出海的新爆款。根据SensorTower的数据，2026年1月1-3日可灵AI的日均收入比2025年12月增长 102%。摩根大通表示，快手在生成式AI这一关键赛道占据领先地位，是全球最被低估的AI股之一。 智通财经APP获悉，快手-W(01024)再涨近5%，月内累计涨幅已超20%。截至发稿，涨4.15%，报77.8港 元，成交额25.22亿港元。 高盛则表示，快手旗下可灵AI在去年12月的模式升级与新功能上线，预计将推动其在海外市场扩大用 户认可并提升营收，从而可能抬升快手2026财年的营收预期，并提振股价。分析师在报告中表示，对可 灵AI的营收预测为2025年逾1.4亿美元，2026年约2.3-2.4亿美元。 ...