Guo Ji Jin Rong Bao·2025-08-26 14:44Core Viewpoint - Kuaishou faces significant legal and operational challenges, including a court ruling for copyright infringement and a corruption scandal involving substantial financial misconduct [2][8][9]. Group 1: Legal Issues - Kuaishou has been ordered by two high courts to pay a total of 89.1 million yuan for copyright infringement related to the unauthorized distribution of content from "De Yun Dou Xiao She" and "Chang Xiang Si" [2]. - The Guangdong and Chongqing high courts found Kuaishou guilty of numerous infringement acts, mandating the platform to implement effective measures to prevent the spread of infringing videos [2][3]. - Despite receiving 2,179 takedown notices over three years, Kuaishou has failed to adequately address the ongoing infringement issues, with over 2,000 infringing videos still available on the platform [3]. Group 2: Corruption Scandal - A corruption case involving Kuaishou's former e-commerce service manager has emerged, with allegations of embezzling over 140 million yuan in subsidy funds through a network of shell companies and laundering the money via foreign cryptocurrency exchanges [8][9]. - The main figure in the scandal, Feng Dian, along with six others, has been sentenced to prison terms ranging from three to fourteen and a half years for their roles in the embezzlement [9]. Group 3: Business Performance - Kuaishou's e-commerce business has shown robust growth, with a reported GMV of 358.9 billion yuan in Q2, marking a year-on-year increase of 17.6% [9]. - The platform's monthly active buyers reached 134 million, and the general merchandise e-commerce segment accounted for over 32% of total GMV, with significant growth during the 618 shopping festival [9]. Group 4: Influencer Challenges - Influencer Xin Youzhi, known as Xin Ba, announced his fifth exit from the live-streaming industry, raising concerns about the impact of his repeated withdrawals on Kuaishou's credibility [10][12]. - Xin Ba's recent controversies, including safety issues with his product line, have further affected the platform's reputation, despite his significant sales contributions during major shopping events [10][12].