KUAISHOU(HK:01024) Cai Jing Wang·2025-09-20 22:02Core Viewpoint - The State Administration for Market Regulation has initiated an investigation into Chengdu Kuaigou Technology Co., Ltd., a subsidiary of Kuaishou, focusing on issues of "false marketing and counterfeit goods" in the live e-commerce sector [1][3]. Group 1: Company Overview - Chengdu Kuaigou, established in 2019, is a wholly-owned subsidiary of Kuaishou, primarily responsible for the e-commerce business "Kuaishou Xiaodian" [1]. - The company has stated that all its business operations are currently running normally [4]. Group 2: Regulatory Environment - The live e-commerce industry has become a significant segment of the e-commerce landscape, with 597 million users projected by December 2024, accounting for 54.7% of internet users [4]. - The National Market Supervision Administration has reported a 19.3% year-on-year increase in complaints related to live commerce, totaling 402,000 cases in 2024, with "false marketing and counterfeit goods" being the core issues [4]. Group 3: Regulatory Actions and Future Directions - The investigation aims to enforce platform responsibilities and protect consumer rights, as well as to enhance compliance within the live e-commerce industry [3][5]. - The National Market Supervision Administration is drafting the "Live E-commerce Supervision Management Measures (Draft for Comments)," which will clarify the responsibilities of platform operators in areas such as compliance, identity verification, and data reporting [4][5].