Zhi Tong Cai Jing·2025-11-24 03:38Core Viewpoint - Kuaishou-W (01024) has shown a strong performance with a stock price increase of over 5%, reflecting positive market sentiment following the release of its Q3 2025 earnings report [1] Financial Performance - Kuaishou-W reported a Q3 revenue growth of 14% year-on-year, reaching 35.6 billion yuan, indicating a continuous improvement in profitability [1] - The adjusted net profit increased by 26%, surpassing market expectations by approximately 3% [1] Growth Drivers - The revenue growth was primarily driven by online marketing and e-commerce, with e-commerce GMV increasing by 15% year-on-year to 385 billion yuan [1] - AI technology has significantly enhanced the core business, optimizing advertising placements and product matching, contributing to over 300 million yuan in revenue from AI products [1] Future Outlook - CMB International forecasts a 10% year-on-year revenue growth for Kuaishou-W in Q4, supported by robust online marketing and e-commerce performance [1] - The earnings forecast for 2025 to 2027 has been slightly adjusted upwards by up to 2% [1] AI Impact - The value of AI empowerment across Kuaishou's business segments is becoming evident, with AI-driven domestic advertising revenue growth of an additional 4% to 5% [1]