Zhi Tong Cai Jing·2026-01-16 01:45Core Viewpoint - Citigroup maintains a "Buy" rating on Kuaishou-W (01024) with a target price of HKD 88, despite challenges in its core e-commerce business, due to the strong performance of Keling AI [1] Group 1: Keling AI Performance - 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 "action control" function that gained significant traction in overseas markets for AI-generated video content [1] - The monthly revenue of over USD 20 million slightly surpassed Citigroup's expectations, reflecting a robust revenue outlook for 2026, with potential annual revenue exceeding USD 25 million [1]