Zhi Tong Cai Jing·2025-09-25 03:18Core Viewpoint - UBS reports that Kuaishou-W (01024) has made significant advancements in text understanding with its Keling 2.5 Turbo model, enabling users to describe complex video sequences through text, enhancing creative expression control [1] Company Summary - UBS sets a 12-month target price of HKD 95.37 for Kuaishou, implying a 14.4 times price-to-earnings ratio for the fiscal year 2025, excluding Keling [1] - The firm maintains an optimistic outlook on Kuaishou due to reasonable growth under valuation, with price-to-earnings ratios of 15 times and 12 times for the next two years, and an expected compound annual growth rate of 20% in earnings per share from fiscal years 2024 to 2026 [1] - The potential upside of video-generating AI and relatively low investor holdings are also cited as positive factors for Kuaishou [1]