智通财经网·2026-01-16 01:39Group 1 - The core viewpoint of the article is that despite challenges in the core e-commerce business, Citigroup maintains a "Buy" rating for Kuaishou-W (01024) with a target price of HKD 88 due to the strong performance of Keling AI [1] - Kuaishou announced that Keling AI's monthly revenue exceeded USD 20 million in December 2025, indicating an annualized revenue run rate of USD 240 million [1] - The strong performance in December is likely attributed to the launch of Kling Video version 2.6, which features a popular "motion control" function that has gained significant traction in overseas markets for AI-generated video content [1] Group 2 - Citigroup's initial expectations for Keling's performance in December were positive, but the actual monthly revenue of over USD 20 million slightly exceeded their expectations, reflecting a robust revenue outlook for 2026 [1] - The company believes that Keling AI has the potential to exceed USD 250 million in annual revenue for the year [1]