快手大涨12%！可灵海外出圈，Motion Control玩法刷屏

Core Viewpoint - Kuaishou's potential for AI commercialization is accelerating, driven by the overseas success of its AI video generation model "Kling," leading to a significant stock price increase of over 12% [2]. Group 1: Revenue Growth and Market Expansion - The "Kling" model's daily revenue surged to 2.5 times the average level from mid-December 2025, benefiting from the widespread adoption of the "Motion Control" feature in overseas social media and promotional activities [4][8]. - Institutions project that "Kling" will generate over $140 million in revenue by 2025, with continued growth expected in 2026 due to ongoing version iterations and expansion into B-end users [8][12]. Group 2: Technological Advancements - The release of version 2.6 of the "Kling" model on December 3, 2025, introduced the "audio-visual synchronization" feature, allowing for the generation of 10-second videos that include natural language, sound effects, and ambient sounds, significantly enhancing user willingness to pay [7][12]. - AI technologies have improved Kuaishou's core advertising business, with user engagement increasing by 1-2 percentage points and advertising revenue rising by 4-5 percentage points due to the application of models like OneRec and GFRL [14]. Group 3: Performance Outlook and Valuation Logic - 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% [16]. - The investment logic will focus on two catalysts: the ongoing empowerment of Kuaishou's advertising business by AI technology and the high-frequency performance data of the "Kling" business along with its product update cadence [16].