Guo Ji Jin Rong Bao·2025-08-26 23:28Core Viewpoint - Kuaishou is facing significant legal and operational challenges, including a substantial copyright infringement ruling and internal corruption issues, which may impact its reputation and business operations [2][8]. Group 1: Legal Issues - Kuaishou has been ordered by two 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 People's Courts found that Kuaishou had engaged in numerous infringement activities and mandated the platform to implement effective measures to prevent the spread of infringing videos [2][3]. - Despite receiving 2,179 "take-down notices" over three years, Kuaishou has failed to adequately address the issue, with over 2,000 infringing videos remaining 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 subsidies and laundering the money through virtual currency platforms [8]. - The case has led to the conviction of seven individuals, including the former manager, who received prison sentences ranging from three to fourteen and a half years [8]. Group 3: Business Performance - Kuaishou reported a 17.6% year-on-year increase in e-commerce GMV, reaching 358.9 billion yuan in the second quarter, with an average of 134 million monthly buyers [9]. - The platform's "pan-shelf" e-commerce GMV accounted for over 32% of total e-commerce GMV, with significant growth during the 618 shopping festival [9]. - Despite strong performance, the platform faces challenges with high-profile influencers like Xin Yuzhi (Xin Ba), who has announced multiple withdrawals from the live-streaming industry, raising concerns about the platform's credibility [9][10][12].