Core Viewpoint - Dongfang Securities predicts Kuaishou-W (01024) adjusted net profit for 2025-2027 to be 20.4 billion, 22.5 billion, and 25.9 billion CNY respectively, maintaining a 2026 PE valuation of 18x, leading to a reasonable value of 404.8 billion CNY, equivalent to 445.4 billion HKD, with a target price of 103.06 HKD per share and a "Buy" rating [1] Group 1 - The release of the Keling O1 model integrates video generation, modification, and expansion into a unified model, enhancing efficiency for professional creators and marking a breakthrough in modifying single elements within video frames [1] - The O1 model features multi-modal capabilities, allowing for comprehensive creation processes including generation, modification, and expansion, addressing backend video consistency issues and supporting 3-10 second narratives for various creative needs [1][2] Group 2 - The update significantly enhances flexibility and convenience for B-end professional creators, implementing the MVL (Multi-modal visual language) concept, which improves interaction efficiency and expression of creator intent [2] - The lowered entry barriers further accelerate user penetration, enhancing C-end playability and expanding the audience for AI video models, with simplified prompts and the ability to easily replicate popular videos [2]