Core Viewpoint - The "Art Summer" initiative by Kuaishou has successfully integrated traditional Chinese opera into rural areas, enhancing cultural engagement and economic activity in various counties across China [1][9]. Group 1: Cultural Impact - The "Art Summer" initiative has organized over 110 performances, bringing traditional operas like Qinqiang and Er Ren Zhuan to more than ten counties, enriching the cultural life of local communities [1]. - The initiative has fostered deep interaction between culture and daily life, as seen in Gansu's Huining County, where performances led to the emergence of local markets, enhancing community engagement [2]. - The initiative has achieved significant digital engagement, with over 10,852 live performances and a total viewership of 900 million, indicating a strong revival of traditional opera in rural cultural revitalization [3]. Group 2: Economic Empowerment - The initiative has stimulated local economies by promoting cultural tourism, with performances driving demand for local food and accommodation services [8]. - Local artists have leveraged the initiative to promote regional specialties, enhancing the economic impact of cultural events [8]. Group 3: Policy and Digital Support - The "Art Summer" initiative aligns with national cultural policies aimed at enriching rural cultural services and promoting traditional arts in villages [9]. - Kuaishou has launched support programs for traditional opera troupes, providing resources for innovation and cultural transmission, with a high coverage rate of traditional arts on the platform [11].

Group 1 - Kuaishou has launched an independent "takeaway" entry on its local life service page [1] - In the second quarter of this year, the number of paying users for Kuaishou's local takeaway products increased by over 300% quarter-on-quarter [1]

每经北京8月8日电（记者王郁彪） 《每日经济新闻》记者从快手方面了解到，快手本地生活近日在"团 购"页面上线了独立"外卖"入口。用户点击"外卖"进入页面下单，选择"在线点单"后跳转至第三方小程 序，由第三方提供人力配送。快手还表示，当前快手"外卖"中的商品以第三方合作共建为主，集中推介 优质餐饮商品，后续将覆盖更多商家及品类。其给出的一组数据显示，今年二季度，快手本地外卖商品 支付用户数环比增长超3倍。 每经记者｜王郁彪 每经编辑｜陈俊杰 ...

Group 1 - The core viewpoint of the report is that Kuaishou's daily active users are projected to exceed 300 million by July 2024, with heavy user growth of 55.3% year-on-year and an average daily viewing time increase of 44% [1] - The number of paid users is expected to increase fourfold from January to December 2024, with a concentration of users in cities like Tianjin, Harbin, and Shijiazhuang [1] - The user demographic for Kuaishou short dramas is predominantly middle-aged men, with 51.8% of users being Kuaishou Xingmang short drama users and 59.5% being over 30 years old [3] Group 2 - Among in-app purchase (IAP) users, the male-to-female ratio is 62% to 38%, with 69.4% of users being under 40 years old; for in-app advertising (IAA) users, the ratio is 46.3% to 53.7%, with 54% being over 40 years old, indicating a trend towards older female users [5] - By February 2025, Kuaishou's short drama content consumption center has uploaded over 53,000 new dramas, with the number of IAP and IAA authors increasing 61 times year-on-year [8] - The report identifies eight mainstream themes for Kuaishou Xingmang short dramas in 2024, with urban themes seeing an 18 percentage point increase year-on-year, while romance themes decreased from 34.76% to 24.24%; fantasy themes experienced a significant growth of 325% [11]

瑞银发表研究报告指，据快手统计，每年公司全球用于影片内容制作的开支约为1200亿美元，其中包括 电影或剧集、广告、短片等。该行预期，genAI将为视讯制作市场带来极大转变。该行相信，这个估计 达110亿至230亿美元的全球影片genAI TAM，将成为公司国内业务一个明显的增长市场，并相信这将为 公司提供第二个增长轨迹。该行将快手目标价由83.4港元上调至95.37港元，维持"买入"评级。 ...

在青海省果洛州久治县哇塞乡民族寄宿制小学的校园里，洋溢着孩子们对未知世界的好奇与憧憬。近日，24 名师生踏上了前往北京的旅程，参与由快手公益基金会举办的2025年"启智未来学堂"科技AI夏令营。这不仅 仅是一次简单的旅行，更是为这些来自牧区的孩子们打开了一扇通往科技世界的大门。 央金卓玛和她的同学们，大多数来自困难家庭，他们的生活与牧场紧密相连，对科技的认知仅限于课本上的 文字。而这次夏令营，为他们提供了一个难得的机会，亲身体验前沿科技，感受科技的力量。 本次夏令营以"科技AI研学"为主题，旨在通过一系列实操性的课程和体验活动，让这些乡村青少年儿童有机 会接触并了解人工智能等前沿科技。行程中，孩子们不仅走进了科技公司，近距离感受AI技术的魅力，还参 与了丰富多彩的科技实践活动。 此次夏令营不仅为孩子们提供了一次难得的体验机会，更为他们的未来成长注入了新的动力。快手公益基金 会通过"启智未来学堂"项目，持续关注乡村儿童的教育问题，希望通过科技的力量助力他们健康成长，勇敢 追寻自己的梦想。 随后，孩子们在快手工程师的指导下，用可灵AI将自己的画作变成了生动的故事。他们想象着"小狗在海里 唱歌""大象在雪山睡觉"的 ...

Group 1 - Southbound funds recorded a net purchase of HKD 23.426 billion in Hong Kong stocks, marking the highest single-day net purchase since March 12 of this year [1] - The top net purchases included: - HKD 6.293 billion in the Tracker Fund of Hong Kong - HKD 0.831 billion in Tencent Holdings - HKD 0.798 billion in Southern Hang Seng Technology - HKD 0.646 billion in Kuaishou-W - HKD 0.586 billion in Li Auto-W - HKD 0.511 billion in Alibaba-W - HKD 0.386 billion in Meitu - HKD 0.290 billion in CanSino Biologics - HKD 0.270 billion in Meituan-W - HKD 0.248 billion in Xiaomi Group-W - HKD 0.232 billion in Innovent Biologics - HKD 0.121 billion in SMIC [1] Group 2 - Southbound funds have net purchased Tencent for 9 consecutive days, totaling HKD 4.426 billion - Southbound funds have net purchased Xiaomi for 8 consecutive days, totaling HKD 4.410 billion - Southbound funds have net purchased Kuaishou for 4 consecutive days, totaling HKD 2.452 billion [1]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price adjusted to 84.3 HKD from the current price of 74.60 HKD [3]. Core Insights - The company is expected to see stable performance driven by improvements in advertising and user engagement, with a projected DAU of 409 million and MAU of 710 million for Q2 2025, reflecting year-over-year growth of 3.5% and 3.2% respectively [1]. - Revenue forecasts for Q2 2025 include online marketing revenue of 196.9 billion RMB (up 12.4% YoY) and e-commerce GMV of 3,465 billion RMB (up 13.5% YoY) [1]. - The company is enhancing its AI capabilities, with the "可灵" (Keling) AI service expected to continue its high growth trend, contributing to other revenue streams [1]. User Engagement - The report highlights improvements in user engagement metrics, with daily active users (DAU) expected to reach 409 million and average daily usage time of 123.8 minutes [1]. - The launch of new content formats, such as vertical screen anime short dramas, is anticipated to further boost user retention and interaction [1]. Financial Performance - Total revenue for Q2 2025 is projected at 345.3 billion RMB, with an adjusted net profit of 51.1 billion RMB, reflecting a net profit margin of 14.8% [1]. - The gross margin is expected to remain stable at 55.3%, supported by growth in high-margin advertising and e-commerce businesses [1]. Profitability Forecast - The adjusted net profit forecasts for 2025-2027 are slightly revised to 201.5 billion RMB, 241.9 billion RMB, and 277.6 billion RMB respectively, indicating a positive outlook for profitability [1]. - The report notes that the company’s advertising and e-commerce segments are expected to benefit from operational efficiencies and AI enhancements [1]. Valuation Adjustments - The valuation multiples for 2025 have been adjusted to 0.8x PS for live streaming, 2.9x PS for online marketing, and 0.2x PSG for e-commerce, reflecting the potential of the AI segment [1].

商报讯（记者 吕文鹃）8月4日，快手商城在杭州举办主题为《增长新引擎 商家新机遇》的商家大会， 分享快手商城的最新打法和经营策略，解读下半年快手商城场域的增长新机会。来自杭州以及全国各地 的500余位商家、达人、品牌齐聚一堂，共同探索在快手商城全域经营的增长方向。 扶持机制优化+投入资源加码 更低经营门槛助力商家流量跃迁 作为快手电商全域经营的重要阵地，快手商城为商家提供了在直播间和短视频场域之外的新增长阵地。 2025年618大促期间，快手电商泛货架场域商品卡搜推曝光次数同比增长44%，泛货架商品卡销售交易 额同比增长53%，商品卡千次曝光产生的交易额同比增长32%。快手商城负责人丁雨晴在会上表示，快 手商城始终致力于为商家达人打造更低的经营门槛，并将持续加码平台资源，不断优化扶持机制，携手 商家和平台聚焦有价值的事，一起做对的事。 多重工具、玩法辅助店铺成长 平台打造长期经营能力基石 展望未来，丁雨晴表示快手商城希望通过这些能力建设，让商家"看得懂、做得起、跑得快"，真正降低 进入商城经营的心智门槛和操作难度，平台倡导商家在下半年重视基础运营，抓住商城红利，维护好店 铺和商品基础信息，用好爆品链接运营工具 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 於本公告日期，董事會包括執行董事程一笑先生及宿華先生；非執行董事李朝暉先生、張斐先生 及王慧文先生；獨立非執行董事黃宣德先生、馬寅先生及盧蓉女士。 快手科技（「本公司」，連同其附屬公司及合併聯屬實體，統稱「本集團」）董事會（「董 事會」）謹此宣佈將於2025年8月21日（星期四）舉行董事會會議，藉以考慮及批准（其 中包括）本集團截至2025年6月30日止六個月之未經審核綜合中期業績。 承董事會命 快手科技 董事長 程一笑先生 香港，2025年8月4日 Kuaishou Technology 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） （港幣櫃台股份代號：01024╱人民幣櫃台股份代號：81024） 董事會會議召開日期 ...