Zheng Quan Shi Bao·2025-08-21 15:13Core Viewpoint - Kuaishou Technology reported a strong performance for Q2 2025, with revenue and adjusted net profit showing significant year-on-year growth, alongside record-high gross and adjusted net profit margins Financial Performance - Revenue for Q2 2025 reached RMB 35.046 billion, a 13.1% increase from RMB 30.975 billion in Q2 2024 [1][2] - Adjusted net profit grew by 20.1% to RMB 5.6 billion, with gross margin at 55.7% and adjusted net profit margin at 16.0% [1][2] - Operating profit was RMB 5.289 billion, representing 15.1% of revenue, up from 12.6% in the previous year [2] E-commerce Business - E-commerce GMV (Gross Merchandise Volume) increased by 17.6% to RMB 358.9 billion in Q2 2025 [2] - Average monthly buyers in the e-commerce segment reached 134 million, with an increase in repurchase frequency among active users [2] User Metrics - Average daily active users reached 409 million, a 3.4% year-on-year increase, while average monthly active users grew by 3.3% to 715 million [3] - Total user engagement time increased by 7.5% year-on-year [3] Special Dividend Announcement - Kuaishou announced its first special dividend since its IPO, totaling approximately HKD 2 billion, reflecting confidence in long-term growth and financial stability [4][7] - The special dividend will be distributed at HKD 0.46 per share to shareholders registered by September 16 [7] AI Business Development - Kuaishou's AI segment, Keling AI, reported revenue exceeding RMB 250 million in Q2 2025, with expectations for annual revenue to double compared to initial targets [5][7] - Keling AI has produced over 200 million videos and 400 million images, serving over 20,000 enterprise clients [5] - The company plans to enhance Keling AI's model capabilities and user experience while maintaining a focus on long-term investment in AI [6][7]