智通财经网·2025-10-02 08:39Core Viewpoint - Dongfang Securities predicts Kuaishou-W (01024) adjusted net profit for 2025-2027 to be CNY 19.6 billion, CNY 23 billion, and CNY 25.9 billion respectively, with a target price of HKD 99.07 per share, maintaining a "Buy" rating [1] Group 1: Financial Projections - The adjusted net profit forecast for Kuaishou-W is CNY 19.6 billion in 2025, CNY 23 billion in 2026, and CNY 25.9 billion in 2027 [1] - The estimated reasonable value of Kuaishou-W is CNY 391.1 billion, equivalent to HKD 428.1 billion, based on a 17x PE valuation for 2026 [1] Group 2: Business Strategy and Performance - Kuaishou is expected to leverage its bottom model iteration to maintain a leading position, with the 2.5 Turbo version anticipated to drive user growth and revenue through a combination of performance upgrades and a 30% price reduction [1] - The core business is benefiting from AI-driven efficiency improvements, with the OneRec content recommendation system supporting community ecosystem health and AI restructuring of the commercialization system providing long-term growth momentum [1]