Xin Jing Bao·2025-08-22 07:59Core Insights - Kuaishou is shifting its focus from solely pursuing e-commerce GMV to leveraging AI for growth opportunities, as indicated by its recent financial performance and strategic direction [1][6] Financial Performance - In Q2 2025, Kuaishou reported a revenue increase of 13.1% year-on-year to 35 billion yuan, with operating profit rising 35.4% to approximately 5.3 billion yuan, and net profit increasing 23.7% to about 4.9 billion yuan [1] - Adjusted net profit for the quarter was approximately 5.6 billion yuan, reflecting a year-on-year growth of 20.1% [1] AI Integration and Growth - The integration of AI technology has led to improved marginal effects in Kuaishou's business, particularly in online marketing services and other service revenues [1] - Online marketing service revenue reached 19.8 billion yuan in Q2, growing 12.8% year-on-year, while other services, including e-commerce and Keling AI, saw a significant revenue increase of 25.9% to 5.2 billion yuan [1][5] Keling AI Performance - Keling AI generated over 250 million yuan in revenue in Q2, up from over 150 million yuan in Q1, indicating strong commercial potential [2] - The annualized revenue run rate for Keling AI surpassed 100 million USD within ten months of its launch, with monthly revenue exceeding 100 million yuan in April and May [2] Strategic Shift in E-commerce - Kuaishou's CFO announced that starting Q1 2026, the company will stop separately disclosing quarterly and annual GMV, emphasizing a shift towards a more diversified e-commerce business model [6] - The growth drivers for e-commerce will now focus on diverse e-commerce scenarios, AI-enabled merchant solutions, and enhanced user experiences [6] Investment in AI Capabilities - Kuaishou has increased its investment in Keling AI's inference computing power, expecting a doubling of Capex for Keling AI in 2025 compared to initial budgets [4] - The company anticipates that the overall impact of AI investments on profit margins will remain between 1% and 2% for the year [4] Future Growth Areas - Kuaishou aims to explore growth opportunities in local life services and automotive sectors, as well as content consumption industries like short dramas and mini-games [6]