Core Viewpoint - Nomura maintains a target price of HKD 55 for Kuaishou and a neutral rating, indicating a stable outlook for the company despite market fluctuations [1] Financial Performance - Kuaishou's Q1 2025 revenue increased by 11% year-on-year, aligning with Bloomberg consensus and Nomura's expectations [1] - Adjusted net profit rose by 4% to RMB 4.6 billion, exceeding market consensus by 2% [1] - E-commerce GMV grew by 15% year-on-year, with live-streaming e-commerce (LSE) expected to see annual growth in the mid to high single digits [1] Business Outlook - Kuaishou has raised its annual revenue forecast for its "Keling" model from USD 60 million to USD 100 million, driven by a Q1 revenue of RMB 150 million that surpassed expectations [1]
野村维持快手目标价55港元以及中性评级