瑞银发布研报称，据快手-W(01024)统计，每年公司全球用于视频内容制作的开支约为1,200亿美元，其 中包括电影或剧集、广告、短片等。该行预期，genAI将为视讯制作市场带来极大转变。该行相信，这 个估计达110亿至230亿美元的全球影片genAI TAM，将成为公司国内业务一个明显的增长市场，并相信 这将为公司提供第二个增长轨迹。该行将快手目标价由83.4港元上调至95.37港元，维持"买入"评级。 ...

智通财经APP获悉，瑞银发布研报称，据快手-W(01024)统计，每年公司全球用于视频内容制作的开支 约为1,200亿美元，其中包括电影或剧集、广告、短片等。该行预期，genAI将为视讯制作市场带来极大 转变。该行相信，这个估计达110亿至230亿美元的全球影片genAI TAM，将成为公司国内业务一个明显 的增长市场，并相信这将为公司提供第二个增长轨迹。该行将快手目标价由83.4港元上调至95.37港元， 维持"买入"评级。 ...

Core Viewpoint - UBS reports that Kuaishou spends approximately $120 billion annually on video content production, including movies, series, advertisements, and short videos. The firm anticipates that generative AI (genAI) will significantly transform the video production market, with a global total addressable market (TAM) for film genAI estimated between $11 billion and $23 billion, which is expected to become a notable growth area for the company's domestic business, providing a second growth trajectory. UBS has raised Kuaishou's target price from HKD 83.4 to HKD 95.37, maintaining a "Buy" rating [1] Summary by Category - **Company Spending**: Kuaishou's annual expenditure on video content production is around $120 billion, covering various formats such as movies, series, advertisements, and short videos [1] - **Market Transformation**: The introduction of genAI is expected to bring substantial changes to the video production market, indicating a shift in industry dynamics [1] - **Growth Potential**: The estimated global TAM for film genAI ranges from $11 billion to $23 billion, which is projected to be a significant growth market for Kuaishou's domestic operations [1] - **Target Price Adjustment**: UBS has increased Kuaishou's target price from HKD 83.4 to HKD 95.37, reflecting confidence in the company's growth prospects [1] - **Investment Rating**: UBS maintains a "Buy" rating for Kuaishou, suggesting a positive outlook on the company's future performance [1]