Cai Jing Wang·2025-08-21 09:42Core Insights - Kuaishou Technology reported Q2 2025 revenue of 35 billion RMB, a year-on-year increase of 13.1% [1] - Adjusted net profit for the same period was 5.6 billion RMB, reflecting a year-on-year growth of 20.1% [1] - Gross margin and adjusted net profit margin stood at 55.7% and 16.0%, respectively [1] Revenue Structure - Online marketing services, live streaming, and other services (including e-commerce and Keling) contributed 56.4%, 28.7%, and 14.9% to total revenue [1] - Overseas business revenue reached 1.3 billion RMB in Q2, marking a year-on-year increase of 20.5% [1] Online Marketing Services - Revenue from online marketing services was 19.8 billion RMB, up 12.8% year-on-year, with growth rate improving compared to Q1 [1] - The company expanded its customer base and optimized marketing solutions using AI technology, enhancing marketing efficiency [1] - AIGC solutions for marketing materials have improved conversion rates by adapting to industry characteristics and usage scenarios [1] E-commerce Performance - E-commerce GMV for Q2 reached 358.9 billion RMB, a year-on-year increase of 17.6% [1] - Monthly active buyers in the e-commerce segment reached 134 million, showing continuous growth [1] - The share of general merchandise e-commerce GMV exceeded 32% of total e-commerce GMV [1] Live Streaming Business - Revenue from the live streaming segment was 10 billion RMB, reflecting an 8% year-on-year growth [2] - The number of signed guilds increased by over 20% year-on-year, while the number of signed streamers grew by over 30% [2] Recruitment and Local Services - Daily resume submissions in the recruitment business grew by over 40%, with two-way matching scale increasing by over 150% [2] - The Ideal Home business saw daily lead generation grow by over 60% [2] - Local life services GMV experienced steady growth, with revenue increasing by nearly 120% year-on-year [2] Keling AI Business - Keling AI revenue exceeded 250 million RMB in Q2 2025, indicating accelerated commercialization [2]