

Core Viewpoint - Goldman Sachs has raised the target price for Kuaishou (01024.HK) from HKD 63 to HKD 68, citing strong performance of its KuaLing AI video and image generation tools and robust subscription growth in April and May, maintaining a "Buy" rating due to attractive risk-reward dynamics [1] Group 1: Financial Projections - Goldman Sachs projects that revenue from KuaLing AI will grow from USD 142 million in 2025 to over USD 400 million by 2027, representing a compound annual growth rate (CAGR) of 68%, driven by increased user penetration and enterprise adoption [1] - The standalone valuation of KuaLing AI could reach USD 3.7 billion, based on a sales multiple of 15 to 30 times, referencing global AI startups [1] Group 2: Market Performance - Kuaishou's stock price has increased by 47% year-to-date, significantly outperforming the Hang Seng Index and the Hang Seng Tech Index, reflecting investor optimism regarding the development of Kuaishou's AI business and the recovery of its core advertising business [1]