KUAISHOU(HK:01024) Zheng Quan Ri Bao·2026-01-23 16:13Group 1 - Technology companies are increasingly issuing bonds, with Kuaishou Technology applying to list 3.5 billion RMB and 6 billion USD in senior notes due in 2031 and 2036 respectively [1] - The bond issuance trend in the tech sector has been ongoing since 2025, with Tencent issuing 9 billion RMB and Alibaba raising 12.023 billion HKD and 3.2 billion USD through zero-coupon convertible bonds [1] Group 2 - The funds raised from bond issuances are primarily directed towards AI and other high-demand sectors, with Kuaishou indicating that over two-thirds of its projected 14 billion RMB capital expenditure in 2025 will be allocated to its AI platform "Kling" [2] - The rising demand for bond financing among tech companies is a response to the capital-intensive nature of AI development, reflecting the need for long-term funding that does not dilute shareholder equity [2][3] - Other tech firms, including AI pharmaceutical company Jingtai Holdings, are also participating in bond issuance, with Jingtai planning to use the proceeds from its 2.866 billion HKD zero-coupon convertible bonds to enhance R&D capabilities [3]