Group 1 - Kuaishou-W (01024.HK) announced a share buyback on December 31, spending HKD 19.7242 million to repurchase 310,000 shares [1] - The buyback price per share ranged from HKD 63.30 to HKD 63.75 [1]

Group 1 - The company Kuaishou-W (01024) announced a share buyback plan, intending to repurchase 310,000 shares for a total cost of HKD 19.724 million [1] - On December 31, 2025, the company will issue 3,330 shares due to the exercise of options under the employee stock ownership plan prior to the initial public offering [1]

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 | | | | | | | ...

Core Insights - Kuaishou is experiencing significant executive turnover, with Vice President Zhou Guorui, responsible for foundational and recommendation models, reportedly leaving the company [1][2] - Zhou's departure raises concerns about the continuity of Kuaishou's AI strategy, which has been a critical growth area for the company [2][6] Executive Changes - Zhou Guorui's tenure at Kuaishou coincided with the company's AI strategy development, marking a pivotal period for AI advancements [2][3] - His notable contribution includes the development of the OneRec system, which reduced service costs to one-tenth of the previous system and improved advertising matching efficiency, leading to a 14% year-on-year increase in online marketing service revenue [3][4] Talent Exodus - Zhou's exit is part of a broader trend of high-level technical executives leaving Kuaishou, with several vice presidents in key areas such as recommendation algorithms and multimodal technology having departed since 2025 [3][4] - This trend includes the departure of other significant figures like Zhang Di, Yuan Shuai, and Liu Qi, indicating a potential instability in Kuaishou's technical leadership [4] Security Challenges - Concurrently, Kuaishou faced a severe automated attack on December 22, leading to a temporary suspension of live streaming services, highlighting vulnerabilities in the platform's security measures [5] - This incident, along with the executive turnover, has amplified market concerns regarding Kuaishou's ability to maintain a robust operational ecosystem amid increasing threats [5][6] Competitive Landscape - The departure of key AI personnel casts uncertainty over Kuaishou's AI strategy, especially as competitors like Douyin and WeChat Video continue to invest heavily in AI [6] - Retaining top technical talent and balancing responsibilities with innovation will be crucial for Kuaishou to leverage AI as a second growth curve [6]

Core Viewpoint - The news highlights the potential departure of Kuaishou's Vice President, Zhou Guorui, who is responsible for foundational models and recommendation systems, with speculation about his future roles at Meta or TikTok [1][2][19]. Group 1: Zhou Guorui's Background and Contributions - Zhou Guorui joined Kuaishou in 2021 after working as a senior algorithm expert at Alibaba Mama, where he contributed to significant algorithm frameworks [2][4]. - At Kuaishou, he led the exploration of generative AI technologies in recommendation systems, resulting in the development of OneRec, an end-to-end large model recommendation system that has been implemented across various platforms [4][22]. - OneRec has reportedly brought significant business improvements to Kuaishou, marking a shift from multi-stage filtering to a comprehensive industrial-grade solution [4][22]. Group 2: Organizational Changes at Kuaishou - The news also mentions other management changes within Kuaishou's Community Science Line and Keling AI, indicating a broader trend of talent movement within the company [9][19]. - Notable departures include Zhang Di, who was responsible for generative AI models and returned to Alibaba after a brief stint at Bilibili, and other high-level executives who have left for various opportunities [19][22]. - The ongoing changes reflect a transitional phase in the AI talent landscape, emphasizing the importance of building a stable and efficient technical system to leverage advanced AI capabilities for long-term business advantages [22].

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]

Core Insights - The news reports that Zhou Guorui, the head of Kuaishou's large model division, is set to leave the company, with his future plans currently unknown [2][4]. Company Overview - Zhou Guorui is a significant figure at Kuaishou, having held the position of Vice President and head of foundational large models and recommendation models [2][4]. - His LinkedIn profile indicates that he holds both bachelor's and master's degrees from Beijing University of Posts and Telecommunications, specializing in information and communication engineering [6]. Career Background - Prior to joining Kuaishou in 2021, Zhou worked at Alibaba's advertising division, focusing on deep learning applications in advertising ranking and model optimization [7][10]. - At Kuaishou, he advanced from the position of recommendation algorithm vice president to leading the large model and recommendation model teams [10]. Key Contributions - Zhou was instrumental in the development of the OneRec architecture, which significantly restructured the recommendation system, achieving larger models with lower costs [11][12]. - The OneRec system reportedly reduced operational costs to about one-tenth of previous levels while enhancing performance across various core business scenarios, including short video recommendations and e-commerce [12][14]. Future Implications - The immediate impact of Zhou's departure on Kuaishou's AI strategy is expected to be limited due to the established stability of the OneRec architecture and the company's commitment to self-developed recommendation models [18]. - However, the long-term effects may include challenges in technology iteration speed and potential instability in technical direction due to the loss of core talent [18].

Core Viewpoint - Kuaishou-W has been actively repurchasing its shares, indicating a strategy to support its stock price amidst recent declines [2][3] Share Buyback Summary - On December 30, Kuaishou-W repurchased 464,000 shares at a price range of HKD 63.750 to HKD 64.750, totaling HKD 29.8846 million [2] - The stock closed at HKD 64.500 on the same day, reflecting a 1.10% increase with a total trading volume of HKD 886 million [2] - Since December 15, the company has conducted buybacks for 10 consecutive days, acquiring a total of 9.9627 million shares for a cumulative amount of HKD 643 million, despite a 4.37% decline in stock price during this period [2] - Year-to-date, Kuaishou-W has executed 44 buybacks, totaling 56.4706 million shares and an aggregate buyback amount of HKD 3.098 billion [2] Detailed Buyback Data - The buyback details include various dates, share quantities, highest and lowest prices, and total amounts spent, showcasing a consistent buyback strategy [2][3]

Group 1 - Kuaishou-W (01024.HK) announced a share buyback of 464,000 shares at a cost of HKD 29.885 million on December 30 [1]