Core Viewpoint - Kuaishou's performance during the 618 shopping festival indicates strong growth in its general merchandise volume (GMV), highlighting the platform's potential for commercial monetization through innovative advertising strategies and enhanced user engagement via new technologies [2][3][4]. Group 1: E-commerce Performance - During the 618 period, Kuaishou's general merchandise card GMV increased by over 53% year-on-year, search GMV surged by over 143%, and short video GMV rose by over 29%, indicating a robust growth trajectory that outpaces the overall market [3]. - The general merchandise sector is becoming a crucial channel for users to browse, discover, and purchase products, with clearer pathways between content consumption and product conversion [3]. Group 2: Advertising Commercialization Potential - Kuaishou's general merchandise sector has significant potential for further advertising commercialization, expected to contribute additional revenue in the second half of 2025 [3]. - The platform is focusing on enhancing advertising efficiency for small and medium-sized merchants through traffic distribution, supply chain support, and intelligent tools, aiming to establish a conversion chain for advertising in the general merchandise context [3]. Group 3: Technological Advancements - The newly launched end-to-end generative recommendation system, OneRec, is anticipated to improve user engagement metrics such as time spent on the platform and user retention [4]. - OneRec utilizes a multi-modal AI model framework to enhance content understanding and recommendation accuracy, achieving a tenfold increase in effective computational capacity and reducing operational costs to 10.6% of traditional solutions [4]. - After its implementation, Kuaishou App and its Lite version saw an increase in user stay duration by 0.54% and 1.24%, respectively, with a significant growth in the 7-day user lifecycle [4]. Group 4: Content Innovation - Kuaishou collaborated with its self-developed AI model, Keling, to produce the AIGC series "New World Loading," which features all scenes generated by AI and includes various styles such as realism, science fiction, and animation [5]. - The first episode, released on June 26, 2025, achieved over 55 million views on Kuaishou Lite by June 30, showcasing the platform's capability in content generation through advanced technology [5]. - The segment "Martin Syndrome" from the series won the "Best Technology Award" at the 15th Beijing International Film Festival, reflecting Keling's technical prowess in AIGC production [5].