Zhi Tong Cai Jing·2025-11-20 01:54Core Viewpoint - Kuaishou-W (01024) reported strong Q3 2025 earnings, leading to a stock price increase of over 4% and a current trading price of 65.45 HKD, with a transaction volume of 790 million HKD [1] Financial Performance - The company achieved revenue of 35.554 billion CNY, a year-on-year increase of 14.2% [1] - Gross profit reached 19.434 billion CNY, up 14.9% year-on-year [1] - Operating profit was 5.299 billion CNY, reflecting a significant increase of 69.9% year-on-year [1] - Net profit for the period was 4.489 billion CNY, a year-on-year increase of 37.3% [1] - Adjusted net profit amounted to 4.986 billion CNY, up 26.3% year-on-year [1] - Adjusted EBITDA was 7.653 billion CNY, showing a year-on-year increase of 37.2% [1] User Engagement - The average daily active users of the Kuaishou app exceeded 416 million, marking a historical high for three consecutive quarters [1] AI Strategy and Investment - The company is committed to increasing investments in AI, with expectations of a mid-to-high double-digit percentage increase in overall capital expenditures (Capex) for 2025 compared to the previous year [1] - The revenue from the Keling AI business is projected to reach approximately 140 million USD for the full year 2025, surpassing the initial target of 60 million USD [1]