3 6 Ke·2025-04-22 10:03Core Insights - The departure of Feng Chao, Vice President of Kuaishou's Magnetic Engine and head of channel business, marks a significant leadership change as the company accelerates AI technology implementation and channel expansion [1][3] - Wang Zhiqiang, the new head of channel business, has a strong background in e-commerce and supply chain management, which may reshape Kuaishou's commercial ecosystem [3][4] Leadership Transition - Feng Chao joined Kuaishou in 2019 and played a key role in transforming the Magnetic Engine's channel business, including the "Brand Leap Plan" to enhance service capabilities among core agents [3][4] - Wang Zhiqiang, with experience at Lenovo, JD.com, and Meituan, brings a wealth of knowledge in channel distribution and supply chain management to his new role [3][4] Business Performance - In the 2024 Double 11 shopping festival, Kuaishou saw a 167% year-on-year increase in the number of active small and medium-sized merchants, with GMV growth of 156% [4] - The number of product categories sold by small and medium-sized merchants increased by 77%, and new merchants achieved a 139% increase in single-store operating income [4] Channel Business Growth - Kuaishou's channel business has experienced rapid growth, with a 69% increase in brand clients and a 185% rise in service providers in the first half of 2024 [6] - The "Second Phase of Industrial Belt Plan" added coverage in 15 new cities, significantly boosting GMV for A-level industrial belt merchants [6] Advertising Revenue - Kuaishou's online marketing services revenue reached 72.4 billion yuan in 2024, a 20.1% year-on-year increase, accounting for 57.1% of total revenue [6] - In Q4, advertising revenue surpassed 20 billion yuan for the first time, growing 13.3% year-on-year, making Kuaishou the fifth-largest advertising platform in China [6]