Core Insights - The launch of the motion control feature in Keling 2.6 has significantly enhanced its product influence, leading to viral content generation on overseas social media platforms [1] - The company anticipates steady growth in its main business, projecting a 9% year-on-year revenue increase to 154.9 billion CNY for 2026, with adjusted profit expected to rise by 10% [2] Group 1: Product Development and Market Impact - Keling 2.6's motion control feature allows users to transfer actions, gestures, and expressions from one video to a new subject, which has gained traction in overseas markets [1] - The app experienced a substantial increase in downloads, particularly in South Korea and India, with daily downloads reaching 59,000 and 257,000 respectively on January 1, compared to previous averages of 425 and 6,022 [1] - The app's daily average revenue has increased by 171% since the feature's launch, with daily active users (DAU) growing by 152% and total downloads increasing by 1,385% [1] Group 2: Financial Projections and Valuation - The company expects its advertising business to grow by 10% and other business segments by 21%, contributing to overall revenue growth [2] - Adjusted net profit forecasts for 2025-2027 are 20.4 billion, 22.5 billion, and 25.9 billion CNY respectively, with a maintained valuation of 18x PE for 2026, resulting in a target price of 103.20 HKD per share [2]