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Kuaishou Technology (OTCPK:KUASF) Q4 2023 Results Earnings Conference Call March 20, 2024 7:00 AM ET Company Participants Matthew Zhao - Vice President of Capital Markets, Investor Relations Cheng Yixiao - Co-founder, Executive Director, Chairman of the Board and Chief Executive Officer Jin Bing - Chief Financial Officer Conference Call Participants Lincoln Kong - Goldman Sachs Thomas Chong - Jefferies Felix Liu - UBS Alex Poon - Morgan Stanley Lei Zhang - Bank of America Operator Good day, ladies and gentl ...

Financial Data and Key Metrics Changes - The company achieved a group-level net profit of RMB2.18 billion and an adjusted net profit of RMB3.17 billion, marking a significant improvement in profitability [8][74] - Group revenue grew by 20.8% year-over-year to RMB27.9 billion, driven by growth across core businesses [66] - Gross profit for Q3 grew by 35% year-over-year to RMB14.5 billion, with a gross profit margin of 51.7% [70][71] Business Line Data and Key Metrics Changes - Revenue from online marketing services increased by 26.7% year-over-year to RMB14.7 billion, accounting for 52.6% of total revenue [66][26] - E-commerce GMV grew by approximately 30% year-over-year, significantly outpacing industry growth [69][36] - Live streaming revenue increased by 8.6% year-over-year to RMB9.7 billion, driven by improved content offerings [69][54] Market Data and Key Metrics Changes - Average Daily Active Users (DAUs) reached 387 million, and Monthly Active Users (MAUs) reached 685 million, representing year-over-year increases of 6.4% and 9.4% respectively [15] - The average daily time spent per DAU on the Kuaishou app was 129.9 minutes, with total user time spent growing by 6.9% year-over-year [16] - Searches average monthly users exceeded 470 million, with daily search inquiries peaking at over 700 million [24] Company Strategy and Development Direction - The company aims to strengthen cooperation between its e-commerce and commercialization business units to enhance monetization efficiency [14] - Focus on fostering high-quality original content creation and exploring innovative user acquisition channels [18][17] - The company is committed to optimizing the synergy between its traffic ecosystem and monetization system [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of e-commerce GMV growth, citing the mass market's increasing demand for quality goods [83] - The company anticipates continued growth in external marketing services, particularly in media information, education, and healthcare sectors [88] - Management highlighted the importance of refining operations and enhancing user experience to drive future growth [75] Other Important Information - The company launched its own in-house data center, Kuaishou Smart Cloud, to improve operational efficiency [9] - A new AI strategy was initiated to integrate advanced technologies into business operations, enhancing user interaction and content creation [110] Q&A Session Summary Question: Performance of Double 11 and sustainability of e-commerce GMV - Management reported that Double 11 sales exceeded expectations, with presale GMV increasing by 84% year-over-year and shopping mall GMV accounting for around 10% of total GMV [78][79][81] Question: Growth in external enterprise revenue and industry performance - Management noted strong growth in media information and education sectors, with paid short plays seeing over 300% growth year-over-year [89][90][92] Question: New initiatives in local services and Kwai Hire - Management highlighted a five-fold increase in average daily GMVs for local services and significant growth in active merchants [97][99][102] Question: Capital return policy and cash flow management - Management confirmed a strong operating cash flow of RMB7.7 billion and ongoing share repurchase plans, indicating confidence in financial performance [106][107] Question: Progress in AI initiatives - Management shared advancements in AI, including the development of large language models and their applications in content creation and user interaction [110][113]

Kuaishou Technology (OTCPK:KUASF) Q2 2023 Earnings Call Transcript August 22, 2023 7:00 AM ET Company Participants Matthew Zhao - VP of Capital Markets, Investor Relations Cheng Yixiao - Co-Founder, Executive Director and Chief Executive Officer Jin Bing - Chief Financial Officer Conference Call Participants Lincoln Kong - Goldman Sachs Kenneth Fong - Credit Suisse Alex Poon - Morgan Stanley Wei Fang - Mizuho Securities Thomas Chong - Jefferies Operator Good day, ladies and gentlemen. Thank you for standing ...

Financial Data and Key Metrics Changes - In Q1 2023, the company achieved a group-level adjusted net profit for the first time since its listing, amounting to RMB 42 million, a turnaround from an adjusted net loss of RMB 45.3 million in Q4 2022 and RMB 3.7 billion in the same period last year [59] - Group revenue increased by 19.7% year-over-year to RMB 25.2 billion, accelerating from 15.8% in Q4 2022 [50] - Gross profit rose by 33.4% year-over-year to RMB 11.7 billion, with gross profit margin increasing from 41.7% in Q1 2022 to 46.4% in Q1 2023 [55][56] Business Line Data and Key Metrics Changes - Revenue from online marketing services grew by 15.1% year-over-year to RMB 13.1 billion, accounting for 51.8% of total revenue [19][50] - Live streaming revenue increased by 18.8% year-over-year to RMB 9.3 billion, driven by a 6.4% increase in average monthly active users (MPUs) to 60.1 million [40][52] - E-commerce GMV rose by 28.4% year-over-year to RMB 224.8 billion, with e-commerce revenue growth outpacing overall revenue growth [28][54] Market Data and Key Metrics Changes - Average daily active users (DAUs) reached 374.3 million, and monthly active users (MAUs) reached 654.4 million, representing year-over-year increases of 8.3% and 9.4%, respectively [11] - The penetration rate of monthly active e-commerce paying users hovered around 15%, indicating significant upside potential [71] Company Strategy and Development Direction - The company aims to leverage technology to enhance user experiences and empower content creators, advertisers, and merchants while unlocking monetization potential across its ecosystem [46] - The focus on improving the merchandising infrastructure and enhancing the quality of e-commerce content is expected to drive future growth [66][72] - The company is testing a new shopping mall service to improve user shopping experiences and increase GMV [74] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in gaining market share in the e-commerce sector, supported by a growing user base and improved merchandising infrastructure [65][66] - The company anticipates a gradual recovery in external performance ads, particularly in the gaming, information services, and retail industries [80] - Future gross profit margin improvements are expected to be driven by a favorable revenue mix and technological innovations [102] Other Important Information - The company announced a share repurchase plan of HKD 4 billion, reflecting management's confidence in long-term growth potential [61] - The balance sheet remained healthy with cash and cash equivalents totaling RMB 44.8 billion as of March 31, 2023 [60] Q&A Session Summary Question: E-commerce business upside potential and marketplace status - Management highlighted that the e-commerce industry is expanding, with Kuaishou positioned to gain market share through improved merchandising and user targeting [65][66] Question: Recovery of external ads and traffic efficiency upgrades - Management noted a clear recovery trend in external performance ads, particularly in gaming and information services, with expectations for growth in the second half of the year [79][80] Question: Progress in local services and online equipment - Management reported significant growth in local services, particularly in Qingdao, and plans to expand operations to more cities [88][90] Question: Future trends for gross margin and OpEx ratio - Management indicated that gross profit margin improvements will continue, driven by a favorable revenue mix and ongoing cost efficiency initiatives [102][103] Question: Progress in AI and potential products - Management confirmed the establishment of an LLM model R&D team, focusing on enhancing user experiences through AI technologies [107][109]

Kuaishou Technology (OTCPK:KUASF) Q4 2022 Earnings Conference Call March 29, 2023 7:00 AM ET Company Participants Matthew Zhao - VP of Capital Markets, Investor Relations Cheng Yixiao - Co-Founder, Executive Director and Chief Executive Officer Jin Bing - Chief Financial Officer Conference Call Participants Kenneth Fong - Credit Suisse Lincoln Kong - Goldman Sachs Thomas Chong - Jefferies Lei Zhang - Bank of America Securities Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to Ku ...

Kuaishou Technology (OTCPK:KUASF) Q3 2022 Earnings Conference Call November 22, 2022 7:00 AM ET Company Participants Cheng Yixiao - Co-Founder, Executive Director and Chief Executive Officer Jin Bing - Chief Financial Officer Conference Call Participants Kenneth Fong - Credit Suisse Lincoln Kong - Goldman Sachs Alex Poon - Morgan Stanley Thomas Chong - Jefferies Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to Kuaishou TechnologyÂ's Third Quarter 2022 Financial Results Conferen ...

Financial Data and Key Metrics Changes - The company's revenues for Q2 2022 increased by 13.4% year-on-year to RMB21.7 billion, driven by growth in online marketing services, e-commerce, and live streaming businesses [33][34] - Gross profit reached RMB9.8 billion, growing 16.5% year-on-year, with a gross profit margin of 45%, up from 43.8% in Q2 2021 [36] - The operating loss narrowed to RMB3.1 billion, an improvement from RMB7.2 billion in Q2 2021, with an operating margin increase of 23.6 percentage points year-on-year [38][39] Business Line Data and Key Metrics Changes - Revenue from online marketing services increased by 10.5% year-on-year to RMB11 billion, attributed to traffic growth and improved ad performance [17][33] - E-commerce GMV grew by 31.5% year-on-year to RMB191.2 billion, with live streaming e-commerce gaining a larger market share [21][34] - Live streaming revenue grew by 19.1% year-on-year to RMB8.56 billion, supported by improved content quality and operational capabilities [25][34] Market Data and Key Metrics Changes - Domestic DAUs reached 347 million, an 18.5% year-on-year increase, with MAUs averaging 587 million, up 15.9% year-on-year [8][9] - The average daily time spent per DAU increased to 125.2 minutes, up 17.1% year-on-year, indicating higher user engagement [9][12] - The number of monthly active brand merchants more than doubled year-on-year, reflecting strong growth in the e-commerce sector [48] Company Strategy and Development Direction - The company aims to enhance monetization efficiency across its ecosystem while adapting to the evolving macro environment [41] - A focus on improving operational efficiency and executing long-term development strategies is emphasized to achieve sustainable growth [41] - The company is expanding its e-commerce ecosystem by enhancing trust-based experiences and improving sales conversion through live streaming [45][46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from the macroeconomic environment and pandemic resurgence but highlighted steady traffic and revenue growth [32] - The company is optimistic about achieving its target of 400 million DAUs, supported by effective user retention strategies and improved operational efficiencies [12] - Future plans include further investment in algorithms and product optimization to enhance user experience and retention [28][29] Other Important Information - The company reported a significant increase in the number of proactive advertisers, with a 90% year-on-year rise in Q2 2022 [17] - The average ROI for native advertisers continued to improve, indicating effective advertising strategies [19] - The company maintains a healthy balance sheet with cash and equivalents totaling RMB41.26 billion as of June 30, 2022 [40] Q&A Session Summary Question: E-commerce business development and consumer behavior changes post-COVID - Management highlighted the importance of building a trust-based e-commerce ecosystem and improving sales conversion through live streaming [45][46] - The number of monthly new merchants increased significantly, indicating recognition of live streaming e-commerce advantages [47][50] Question: Operational efficiencies and top-line growth - Management discussed breakthroughs in revenue-sharing cost management and technology upgrades to enhance efficiency [55][56] Question: Client recruitment strategy and monetization plans - Management emphasized the advantages of Kuaishou's platform for blue-collar recruitment, including a large user base and trust-building capabilities [60][61] - The company is exploring monetization models and has initiated small-scale trials of advertisements in the recruitment sector [61]