More bullish on margin improvement

M N 21 Mar 2024 CMB International Global Markets | Equity Research | Company Update Kuaishou (1024 HK) More bullish on margin improvement Target Price HK$97.0 We turn more bullish on Kuaishou’s (KS) margin enhancement ahead, with ads & (Previous TP HK$97.0) ecommerce share gains to continue. KS delivered solid 4Q23 results, with inline Up/Downside 85.6% revenue and upbeat bottom line. For FY24E, we expect total revenue +10.6% YoY, Current Price HK$52.25 with livestreaming/ads/other services revenue -8%/+20% ...