快手大涨12%！可灵海外出圈，Motion Control玩法刷屏

Core Insights - Kuaishou Technology is rapidly realizing its commercial potential in the generative AI sector, driven by the explosive growth of its AI video generation model, Kling, in overseas markets, alongside technological empowerment of its core advertising business [1] - The company's stock surged over 12% during trading, reflecting investor optimism regarding its growth trajectory [1] Group 1: AI Model Performance - Kling's daily revenue reached 2.5 times the average level from mid-December 2025 by January 3, 2026, due to the widespread adoption of the "Motion Control" feature in social media platforms in countries like South Korea and Russia [3][6] - The 2.6 version of Kling, launched on December 3, 2025, introduced a groundbreaking "audio-visual synchronization" feature, allowing the generation of 10-second videos that include natural language, sound effects, and ambient sounds, significantly enhancing user willingness to pay [5][10] - Analysts project that Kling's revenue will exceed $140 million in 2025, with continued growth expected in 2026 through version iterations and expansion into B-end users [8] Group 2: Advertising Business Enhancement - AI technology is increasingly improving Kuaishou's core advertising business, with user engagement rising by 1-2 percentage points and advertising revenue increasing by 4-5 percentage points in Q3 2025 [12] - The application of OneRec technology has optimized ad loading rates, increasing ad inventory while minimizing user disruption, while the GFRL model has enhanced eCPM through intelligent ad placement and real-time ROI monitoring [12] Group 3: Financial Outlook and Valuation - Market sentiment regarding Kuaishou's profit outlook is optimistic, with projected profits of 20.6 billion RMB and 23.8 billion RMB for 2025 and 2026, respectively, reflecting year-on-year growth of 16% and 15% [13] - The current price-to-earnings ratios are 14x for 2025 and 12x for 2026, indicating a favorable valuation [13] - Future investment logic will focus on the ongoing empowerment of Kuaishou's advertising business by AI technology and the high-frequency performance of the Kling business, alongside its product update cadence [13]