Zheng Quan Ri Bao·2025-11-19 16:13Core Insights - Kuaishou Technology reported a revenue of 103.21 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 12.8%, with an adjusted net profit of 15.18 billion yuan, up 16.7% [2] - In Q3 2025, Kuaishou achieved a revenue of 35.55 billion yuan, a 14.2% increase year-on-year, and an adjusted net profit of 4.99 billion yuan, reflecting a 26.3% growth [2] - The CEO emphasized the integration of AI capabilities across various business scenarios, aiming for higher operational efficiency and long-term value creation for shareholders [2] Business Performance - Online marketing services, Kuaishou's main business, generated 20.1 billion yuan in Q3 2025, a 14% year-on-year increase [3] - The UniversalAuto X (UAX) solution achieved over 70% penetration in external marketing, while internal marketing consumption from site-wide promotion products exceeded 65% [3] - Average daily active users reached 416 million, and monthly active users were 731 million, with daily usage time averaging 134.1 minutes, a 3.6% increase year-on-year [3] Live Streaming and E-commerce - Live streaming revenue grew by 2.5% year-on-year to 9.6 billion yuan in Q3 2025, with a significant increase in signed guilds and streamers [3] - E-commerce GMV reached 385 billion yuan, up 15.2% year-on-year, with over 32% of GMV coming from general merchandise e-commerce [4] AI Business Development - Kuaishou launched the Keling AI 2.5 Turbo model, enhancing text response and dynamic effects, with over 45 million global users and more than 2 billion videos generated [6] - The AI model reduced video generation costs by nearly 30%, contributing over 300 million yuan in revenue for Q3 2025 [6] - The application of OneRec in online marketing services improved revenue by approximately 4% to 5% in Q3 2025 [6][7] Strategic Outlook - Kuaishou's AI business is positioned as a key variable in transforming its commercial engine, with a focus on reducing inference costs and expanding enterprise services [7] - The integration of AI into marketing and e-commerce is expected to drive future growth, establishing a second growth curve for the company [7]