Core Insights - Kuaishou Technology has evolved over 14 years from a community platform to a digital platform, benefiting from rapid digital technology advancements and supportive government policies, while also leveraging its innovative technological foundation and strong AI capabilities [3][4] - In early 2023, Kuaishou launched a new AI strategy focusing on research, technological breakthroughs, and application innovations across multiple fields, aiming for deep integration of technology and industry for high-quality development [3][4] AI Innovations - Kuaishou introduced the world's first user-accessible real-image video generation model, Keling AI, which has rapidly positioned the company among the global leaders in this space [4] - The Keling 2.5 Turbo version has achieved near film-level standards in generation capabilities, significantly reducing production costs to one-tenth of traditional methods and shortening production time by approximately 60% [4] - Keling AI has surpassed 45 million global users and partnered with over 20,000 enterprises and developers, covering more than 80% of countries and regions, serving diverse applications in film creation, advertising, and game production [4] Recognition and Impact - Keling AI was recognized as one of the "Top Ten Innovative Development Cases of Chinese Internet Enterprises in 2025" at the Wuzhen Summit, marking the third consecutive year that Kuaishou's technology and products have received this honor [4] - The company has integrated generative AI across its entire ecosystem, enhancing content, commerce, and operational efficiency, while also addressing new challenges related to safety and ethics [5][6] Governance and Compliance - Kuaishou is actively exploring the integration of governance into technology, shifting from "governance technology" to "technology governance," which allows compliance to guide innovation rather than constrain it [6] - The company has implemented a dual system of explicit and implicit identifiers for AI-generated content, responding to regulatory frameworks to ensure responsible AI usage [6]

Core Insights - The 2025 World Internet Conference in Wuzhen emphasizes AI innovation and governance, showcasing various AI models and products [1][2] - Kuaishou's co-founder Yang Yuanxi highlights the company's journey as an AI-driven tech firm, launching the world's first user-accessible video generation model, Keling AI, which has positioned Kuaishou among global leaders in this technology [3][4] Group 1: Company Strategy and Innovation - Kuaishou has evolved from short video content to live-streaming e-commerce, and in 2023, it intensified its AI technology development in response to national strategies [3] - The launch of Keling AI marked a significant milestone, as it was the first public-facing product of its kind, supported by strong national policies and infrastructure [3][4] - Kuaishou believes that the innovation ecosystem in China, combined with robust technical capabilities, will enable it to seize new development opportunities [3][4] Group 2: AI Integration and Business Model - Yang emphasizes that true competitive advantage comes from deeply embedding AI into business operations rather than just technological superiority [4] - Kuaishou is extending its AI capabilities across various industry scenarios, creating a comprehensive intelligent content and commercial ecosystem [4] - The company has established a series of large model matrices led by Keling AI to promote the integration of technology and industry [4] Group 3: Global Perspective - Yang advocates for Chinese companies, including Kuaishou, to leverage their innovative capabilities and expand globally, serving users worldwide [5] - The company aims to drive high-quality development in the real economy through continuous innovation and integration of technology with industry [5]

11月8日，2025世界互联网大会乌镇峰会"人工智能技术创新与治理论坛"上，快手科技(01024)高级副总裁马宏彬发表主题演讲，分享了快手在AI时代的创新 实践与底层思考。 马宏彬表示，从记录与分享的生活社区到深耕产业的数字平台，快手14年来持续进化，既受益于数字技术飞速发展的时代与政府鼓励政策，也源于公司创新 驱动的技术底蕴与丰厚AI基因。 随着新一轮AI科技浪潮到来，2023年初快手启动了新一代AI战略，从基础研究到技术突破、从工具革新到应用创新，多领域、多层次地加大研发投入、布 局与应用探索。在马宏彬看来，AI技术浪潮正在从单纯的技术突破走向大规模应用创新，推动科技与产业深度融合与高质量发展。 从"技术秀"到"效率革命" 人工智能在赋能各行各业的同时，也带来了安全、伦理等方面的全新挑战。马宏彬表示，快手积极探索"将治理嵌入技术"，实现从"治理技术"到"技术治 理"的范式改变。 新的治理理念下，很多老问题有了更高效解决方法，快手还积极响应《人工智能生成合成内容标识办法》，已上线用户可见的显式标识及嵌入元数据中的隐 式标识双重体系。"当治理真正嵌入技术内核，合规不再是创新的约束条件，而是创新的方向指引。"马 ...

这一轮生成式AI浪潮中，快手凭借硬核技术突破与应用创新，推出了全球首个用户可用的真实影像级视频生成大模型可灵AI，并迅速跻身全球第一梯队。 智通财经APP获悉，11月8日，2025世界互联网大会乌镇峰会"人工智能技术创新与治理论坛"上，快手科技(01024)高级副总裁马宏彬发表主题演讲，分享了 快手在AI时代的创新实践与底层思考。 马宏彬表示，从记录与分享的生活社区到深耕产业的数字平台，快手14年来持续进化，既受益于数字技术飞速发展的时代与政府鼓励政策，也源于公司创新 驱动的技术底蕴与丰厚AI基因。 随着新一轮AI科技浪潮到来，2023年初快手启动了新一代AI战略，从基础研究到技术突破、从工具革新到应用创新，多领域、多层次地加大研发投入、布 局与应用探索。在马宏彬看来，AI技术浪潮正在从单纯的技术突破走向大规模应用创新，推动科技与产业深度融合与高质量发展。 从"技术秀"到"效率革命" 经过一年多高速迭代，可灵2.5 Turbo版本生成能力已逼近影视级标准，正在全球范围成为有望重塑视频生产工业的新质生产力引擎。今年下半年，可灵AI接 连亮相釜山电影节、东京电影节和戛纳秋季电视节，引发关注并连接起更广阔市场。 " ...

11月7日，隔夜美股科技再度回调，港股受海外拖累低开震荡，恒生科技指数半日跌2%，科网龙头集体 下行，阿里巴巴-W、腾讯控股双双跌逾2%，小米集团-W、哔哩哔哩-W跌超3%，快手-W重挫5%。 港股互联网ETF（513770）及其联接基金（A类017125；C类017126）被动跟踪中证港股通互联网指 数，该指数重仓互联网龙头，阿里巴巴-W、腾讯控股、小米集团-W是其前3大权重股，权重占比分别 为19.22%、16.46%、10.41%，前10大持仓汇聚AI大模型+各领域应用的龙头公司，合计占比超73%， 龙头优势显著，是港股AI核心资产。 | 十大权重 | | | | 继班日期:2025-10-27 | | | ● 前5大权量之和 ● 前10大公里之和 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 音男代码 | 证券名称 | 中任一般行业分类 | 中征二级行业分类 | 収量(%) | | | 100% | | | 9988 HK | 阿里巴巴-W | 可透4暴 | 學當业 | 19.22 | | 90% | | 10% | | 0 ...

Core Viewpoint - The Hang Seng Technology Index experienced a significant decline, with notable drops in specific companies such as Kuaishou and NIO [1] Company Summary - Kuaishou's stock fell by over 5% during the trading session [1] - NIO's stock declined by nearly 5% [1] Industry Summary - The overall decline in the Hang Seng Technology Index reached 2% [1]

Core Insights - Kuaishou's top female streamer, E-Dan (real name Yang Runxin), has recently made headlines by directing traffic to her new account and offering iPhone 17 Pro giveaways, claiming to have experienced "inhuman suffering" over the past four months [1][2] Group 1: E-Dan's Recent Activities - E-Dan has registered two new companies, "Hangzhou Runxing Entertainment Co., Ltd." and "Hangzhou Runxin Entertainment Co., Ltd.," with a 99% stake, focusing on live-streaming e-commerce and supply chain management, indicating potential independence from her current management [2][4] - During the Double 11 shopping festival, E-Dan's first live-streaming session achieved over 10 billion yuan in sales within three hours, with an estimated total sales of 30 billion yuan, showcasing her strong market presence [4][9] Group 2: Background and Achievements - E-Dan, born in 1997, began her e-commerce career during university and joined XinXuan Group in 2019, quickly rising to prominence with significant sales figures, including over 80 billion yuan in 2020 [5][6] - By 2023, E-Dan had generated nearly 300 billion yuan in GMV, with 171 billion yuan attributed to her efforts, solidifying her status as the top female streamer on Kuaishou [5][6] Group 3: Industry Context and Future Prospects - The live-streaming e-commerce industry is becoming increasingly competitive, with top streamers needing to create new topics to maintain audience engagement. E-Dan's strategy of using a secondary account to generate buzz for Double 11 is a notable marketing tactic [8][14] - If E-Dan chooses to operate independently, she will face challenges such as maintaining product quality without XinXuan's supply chain support and navigating a changing regulatory landscape in the live-streaming industry [16][17]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 2. 股份分類 不同投票權架構公司普通股 股份類別 A 於香港聯交所上市 (註1) 否 證券代號 (如上市) N/A 說明 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 766,237,001 USD 0.0000053 USD 4,061.06 增加 / 減少 (-) USD 本月底結存 766,237,001 USD 0.0000053 USD 4,061.06 本月底法定/註冊股本總額： USD 50,000 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 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11月6日 I. 法定/註冊股本變動 | 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 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | ...

Group 1 - The Hang Seng Index (HSI) closed at 26,158 points, near the middle line of the Bollinger Bands at 26,163 points, indicating a potential for slight upward movement if trading volume increases [1][2] - Investors are divided, with bullish investors targeting levels between 26,300 and 26,500, while bearish investors see strong resistance at 26,200, predicting a potential drop of 300 points [1][2] - Current resistance is estimated at around 26,600 points, with a possibility of reaching 26,679 points if the index breaks through this level [2] Group 2 - Xiaomi's stock price rose slightly to 44.72 HKD, with a first resistance level at 48.1 HKD, and a potential upward movement towards 53.8 HKD if this level is breached [9][10] - Technical signals for Xiaomi show 11 buy signals and 6 sell signals, indicating a slightly positive short-term outlook [9][10] - The support level for Xiaomi is around 42.6 HKD, and if it falls below this, it could drop to 40 HKD [9][10] Group 3 - CNOOC's stock price closed at 20.46 HKD, close to the upper Bollinger Band, with a support level at 19.7 HKD [14] - If CNOOC's stock price drops below 19.7 HKD, it may further decline to 19.2 HKD [14] Group 4 - NIO's stock price increased to 56.9 HKD, with a resistance level at 59.9 HKD, and a potential rise to 63.2 HKD if this level is surpassed [18] - Investors are advised to choose options with a strike price about 10% out of the money and longer expiration dates for better safety [18] Group 5 - Kuaishou's stock price closed at 73.45 HKD, with a resistance level at 78.2 HKD, and a potential rise to 85.7 HKD if this level is broken [25][26] - Technical signals indicate 10 buy signals and 5 sell signals, suggesting a slightly positive short-term outlook [25][26] Group 6 - Hong Kong Exchanges and Clearing (HKEX) closed at 428.8 HKD, with a resistance level at 439 HKD, and a potential rise to 449 HKD if this level is breached [32] - Technical signals show 9 buy signals and 5 sell signals, indicating a slight preference for buying [32]

Core Insights - Kuaishou Intelligent Cloud (Ulanqab) Technology Co., Ltd. has increased its registered capital from 50 million RMB to 250 million RMB, representing a 400% increase [1][2] Company Information - The company was established in 2020 and is wholly owned by Beijing Kuaishou Technology Co., Ltd. [1][2] - The legal representative is Yang Yuanxi, and the company operates in telecommunications, internet platforms, and internet security services [1][2] - The registered capital change occurred on October 28, 2025, with the new registered capital being 250 million RMB [2] Business Scope - The business scope includes telecommunications operations, internet cultural activities, internet data services, and software and information technology services [2]