智通财经网·2025-08-21 09:25Core Insights - Kuaishou Technology reported record highs in both traffic and profitability for Q2 2025, with revenue increasing by 13.1% year-on-year to 35 billion yuan and adjusted net profit rising by 20.1% to 5.6 billion yuan [1] - The company achieved historical peaks in gross margin and adjusted net profit margin, reaching 55.7% and 16.0% respectively [1] - Average daily active users reached 409 million, a year-on-year increase of 3.4%, while average monthly active users reached 715 million, up 3.3% [1] Revenue Structure - The revenue contributions from online marketing services, live streaming, and other services (including e-commerce and Kuaishou's AI tools) were 56.4%, 28.7%, and 14.9% respectively [1] - Kuaishou's overseas business showed robust performance, with Q2 revenue reaching 1.3 billion yuan, a year-on-year increase of 20.5% [1] AI and Technology Advancements - Kuaishou's CEO highlighted the application of AI models across various ecological scenarios, enhancing operational efficiency for merchants and creators [2] - The company introduced the OneRec end-to-end generative recommendation model, which significantly improves recommendation efficiency and user engagement [4] - Kuaishou's Keling AI has undergone rapid iterations, with the latest models enhancing video generation capabilities and achieving industry-leading performance [5] E-commerce Growth - Kuaishou's e-commerce GMV grew by 17.6% year-on-year to 358.9 billion yuan in Q2 2025, with an average of 134 million monthly buyers [8] - The platform's new merchant support system has led to a 50% year-on-year increase in new merchant registrations [9] - Short video e-commerce also performed well, with GMV increasing by over 30% due to improved supply quality [9] Marketing Services - Online marketing services revenue reached 19.8 billion yuan, reflecting a year-on-year growth of 12.8% [10] - The content consumption, local life, and automotive sectors were key growth drivers for external marketing services [11] Local Life Services - Kuaishou's local life business saw GMV grow steadily, with revenue increasing by nearly 120% year-on-year in Q2 2025 [14] - The company is focused on enhancing user experience through intelligent subsidies and refined city operations [14]