炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：雷达Finance 雷达财经出品 文|丁禹 编|孟帅 身为国内短视频直播巨头的快手，近日突遭黑灰产袭击。 这一突如其来的事故发生后，随即吸引不少网友"围观"，快手App甚至一度冲至苹果App Store免费榜第 二。 对于此次风波，快手强调，公司始终严守合规底线，坚决反对任何违规内容及行为，且已就上述事宜向 公安机关报案并向相关部门报告。 但有声音认为，作为日活超4亿的头部短视频厂商，即便在此次事件中，快手也是黑灰产恶意攻击的"受 害者"，但作为平台运营方，其也应承担起部分主体责任。 事故发生后，截至12月23日收盘，快手股价为64.35港元/股，较前日下跌3.53%，市值较前日蒸发超100 亿港元。 有分析指出，在黑灰产迈入"自动化攻击"时代后，国内内容平台"机器+人工"的审核机制已经"落伍"， 下一阶段的突破口是用AI赋能实现安全防护自动化。 值得一提的是，在10月底公布的《2025胡润百富榜》上，快手的两位创始人宿华、程一笑分别以335亿 元、270亿元的身家登榜，身家较去年分别上涨63%、74%。 快手遭黑灰产"突袭"，近 ...

12月22日夜间，不少网友在社交媒体上发布打码截图，反映快手平台上多个直播间出现露骨涉黄 等画面。 一位快手用户描述，当晚10点多，她点进快手直播频道时，"好多直播间都是露骨涉黄内容，还有 播放违规影片的，部分直播间单场观看人数超10万人……"。该用户对多个直播间进行举报，但审 核"几乎失灵"。 多名快手用户称，除了涉黄内容，多个直播间还播放开膛破肚等暴力血腥画面。部分用户连夜修改 快手账号密码、开启二次验证权限。 招聘海报介绍，快手信息安全团队是公司核心技术防线，致力 于构建业界领先的安全攻防体系与数据保护能力。 作者：钱玉娟 封图：图虫创意 与此同时，12月23日，多个与网络安全相关的自媒体公众号发布了"快手急招安全岗位"等招聘内 容，包括应用安全专家、基础安全攻防技术专家、信息安全BP专家等。 招聘海报介绍，快手信息安全团队是公司核心技术防线，致力于构建业界领先的安全攻防体系与数 据保护能力。 中国计算机学会常务理事、网络安全专家谭晓生分析，快手作为国内短视频直播巨头，对直播内容 不仅有严格的人工审核，还有AI辅助的审核系统，能做到秒级封禁。但在此次事件中，快手相关系 统并未在危机发生时及时起效，这反映 ...

经济观察报 记者 钱玉娟 12月22日夜间，不少网友在社交媒体上发布打码截图，反映快手平台上多个直播间出现露骨涉黄等画面。 23日00:30左右，快手紧急下架直播频道后，搜索直播相关界面显示"无相关内容"，其他短视频频道均正常。 到了12月23日早上8点，记者登录快手App看到，直播频道已恢复，多个直播间正常直播中。 快手官方回应称，12月22日22时左右，平台遭到灰黑产攻击，已紧急处理修复中。"平台坚决抵制违规内容，相应情况已上报给相关部门，并向公安机关报 警。" 与此同时，12月23日，多个与网络安全相关的自媒体公众号发布了"快手急招安全岗位"等招聘内容，包括应用安全专家、基础安全攻防技术专家、信息安全 BP专家等。 招聘海报介绍，快手信息安全团队是公司核心技术防线，致力于构建业界领先的安全攻防体系与数据保护能力。 中国计算机学会常务理事、网络安全专家谭晓生分析，快手作为国内短视频直播巨头，对直播内容不仅有严格的人工审核，还有AI辅助的审核系统，能做 到秒级封禁。但在此次事件中，快手相关系统并未在危机发生时及时起效，这反映出快手平台可能存在系统漏洞。 一位快手用户描述，当晚10点多，她点进快手直播频道时， ...

Core Insights - The 2025 Kuaishou Photonic Creator Conference was held in Chengdu, focusing on creator ecosystem development, traffic policy optimization, commercialization, and AI technology empowerment [1][3] - Kuaishou's founder and CEO presented impressive results, with over 91 million creators continuously posting for three years, and a 100% year-on-year increase in submissions from creators with over 10,000 followers [1][3] Group 1: Creator Ecosystem and Revenue Growth - The thriving content ecosystem has led to revenue growth for creators, with 26 million creators earning income on Kuaishou, and those earning over 1,000 yuan per month increasing by nearly 12% year-on-year [1][3] - The strategies of "short video and live streaming integration" and "public-private domain linkage" are key to helping creators gain traffic and accumulate private domain stickiness [3][4] Group 2: Traffic and Commercialization Strategies - Data shows that dual-format creators (short video and live streaming) achieve traffic efficiency 4 to 10 times higher than single-format creators, with GMV from "short and live dual opening" being five times that of single short videos [3][4] - The conference introduced "four traffic passwords" for creators, focusing on deep interaction, niche content creation, quality assurance, and relevant topic engagement [3] Group 3: AI Technology and Future Trends - AI technology has become a core productivity driver for traffic and commercial monetization, with the global AI video creator scale surpassing 100 million [4] - Kuaishou's AI content viewership increased by 321% in July compared to six months prior, indicating a significant rise in AI-generated content popularity [4] - The company has provided API services to over 20,000 enterprise clients across various industries, with AI creator pricing reaching thousands to tens of thousands of yuan per minute [4]

Core Insights - Kuaishou Technology emphasizes the integration of short videos and live streaming as a core operational philosophy, which is crucial for the prosperity of its content ecosystem [3] - The company is focusing on enhancing the efficiency of public and private traffic interaction, providing creators with new avenues for traffic growth [3] Group 1: Content Ecosystem Strategy - The CEO highlighted that creators excelling in both short video and live streaming can achieve 4 to 10 times higher traffic acquisition efficiency compared to those focusing on a single format [3] - In Q2 of this year, the exposure of high-value private domain creators in the public domain increased by 10.2% quarter-on-quarter, leading to a 7.2% quarter-on-quarter growth in new followers [3] Group 2: Commercialization and Revenue Generation - The "short video and live streaming integration" strategy has shown significant advantages, with the GMV generated by the "dual opening" model being five times that of single short video content [3] - In the e-commerce live streaming scenario, public domain traffic accounts for 70%, while the conversion rate in the private domain is over four times that of the public domain [3] - Kuaishou plans to expand into monetization avenues such as short dramas and mini-games, potentially generating billions in revenue for creators within the next year [3] Group 3: Creator Support and AI Empowerment - Kuaishou's VP outlined four key strategies to help creators capture traffic: encouraging deep interaction, focusing on niche content creation, ensuring high-quality output, and using relevant topic tags [4] - The company has seen a 321% increase in AI content viewership over the past six months, with over 20,000 enterprise clients served through API interfaces across various sectors [4] - AI creators' daily rates have risen to thousands to 50,000 yuan per minute, indicating a transformative shift in content creation driven by AI technology [4]

Core Insights - The 2025 Kuaishou Creative Conference in Chengdu emphasized the theme "Born Different, Creation Without Boundaries," showcasing significant growth in creator engagement and monetization on the platform [1] Group 1: Creator Growth and Engagement - The number of creators with over 10,000 followers doubled in the past year, and the number of creators transitioning to professional streamers increased by 8% [1] - A total of 26 million creators on the platform earned income, with those earning over 1,000 yuan per month seeing a nearly 12% increase [1] - The "short video and live streaming integration" concept was highlighted, with creators skilled in both formats achieving 4 to 10 times the traffic efficiency compared to those focusing on a single content type [1] Group 2: Content Performance and Technology - The number of works with over 50,000 views increased by 35% in the first half of the year, attributed to significant improvements in flow matching technology [2] - Recommendations for creators to enhance traffic include increasing deep interaction, focusing on niche areas, ensuring content quality, and effectively using topic tags [2] Group 3: Commercial Ecosystem and AI Content - Creators published over 6.6 million commercial content pieces daily, attracting 320 million users and garnering over 22 million likes, benefiting 3.7 million creators [5] - AI-generated content has become one of the fastest-growing categories, with a 321% increase in playback volume for AI content in July [5] - Kuaishou's AI services have been provided to over 20,000 enterprises through API [5] Group 4: User Engagement and Community Growth - The daily active user base among Generation Z and middle-class white-collar workers saw year-on-year growth in the second quarter [5] - The platform added 480,000 creators with over 10,000 followers and 3,000 creators with over 1 million followers in the past year [5] - Kuaishou's user penetration rates in Northeast and Northwest regions exceeded 85% and 73%, respectively, establishing itself as a core hub for new farmers [6]

Core Insights - The 2025 Kuaishou Guanghe Creator Conference highlighted the growth of content creators on the platform, with submissions from creators with over 10,000 followers increasing by over 100% year-on-year, and the number of professional streamers rising by 8% [1] - Kuaishou's content ecosystem has provided monetization opportunities for 26 million creators, with a nearly 12% year-on-year increase in creators earning over 1,000 yuan per month [1] - The conference emphasized the integration of short videos and live streaming as a core operational philosophy, which has significantly improved content engagement and monetization efficiency [3][6] Content Ecosystem Development - The conference showcased the thriving creator ecosystem, which has led to a diverse range of community content and increased community engagement [1] - Kuaishou's strategy focuses on short video and live streaming integration, with data showing that creators using both formats achieve 4-10 times more traffic efficiency compared to those using a single format [3][6] - The platform's flow distribution mechanism has shifted to prioritize long-term user interaction with content and creators, enhancing the visibility of high-quality works [7] Monetization and Commercialization - Kuaishou's dual approach of using short videos to drive traffic and live streaming for conversion has resulted in a GMV that is five times higher than that generated by single short videos [6][10] - The platform has seen a 10.2% increase in exposure for high-value private domain creators in public domains, contributing to a 7.2% rise in new followers [6] - Kuaishou's commercial ecosystem, valued in the trillions, provides creators with diverse monetization opportunities, with over 660 million commercial content pieces published daily, attracting over 320 million viewers [8][10] AI and Content Innovation - AI has emerged as a significant driver of traffic and commercial monetization, with Kuaishou's AI content viewership increasing by 321% year-on-year [11][13] - The platform has integrated AI tools to enhance content creation, allowing creators to engage in new commercial collaborations [13] - Kuaishou's community has seen a growth in Gen Z users and middle-class engagement, indicating a robust demand for diverse content [13][14] Community Engagement and Governance - Kuaishou's community governance emphasizes user autonomy, AI-driven moderation, and the protection of quality creators, fostering a vibrant and responsible community [21][24] - The platform's initiatives aim to deepen user participation in community governance, ensuring a sustainable and prosperous environment for creators and users alike [24]

Group 1 - The forum "Empowering Women for a Sustainable Future" held in Incheon, South Korea, focuses on the role of women in promoting sustainable development through innovative public welfare models [1] - The theme of the forum is "Building a Sustainable Tomorrow Together - Connection, Innovation, Prosperity" [1] Group 2 - Kuaishou Technology's Vice President, Song Tingting, highlighted the company's initiatives to empower women through digital technology, enabling new employment and entrepreneurship models [3] - The digital age allows women to bridge the digital divide and play a crucial role in rural revitalization and economic development [3][6] - Kuaishou has initiated a digital skills training system since 2018 to explore new support models for women in the digital era [3] Group 3 - Kuaishou's "Happy Rural Leaders" program trains rural women in live-streaming e-commerce, helping them sell local agricultural products [6] - The "She Power: Rural Revitalization Support Program" has trained over 1,200 rural female entrepreneurs, creating significant employment opportunities [7] - The program has also led to the establishment of a handcraft cooperative that employs over 1,500 women [7] Group 4 - Women make up over 50% of Kuaishou's platform's live-streamers, with 54 female streamers recognized in the top 100 list for their outstanding contributions [9] - Kuaishou's "Happy Lecture Hall" project provides digital skills training to women across various employment sectors, benefiting over 1 million individuals [9][11] Group 5 - Kuaishou has created 43.2 million job opportunities and introduced 174 new professions by integrating digital technology with various industries [11] - The platform is expected to evolve towards more professional and diverse short video live-streaming, enhancing women's social engagement and self-expression [11] Group 6 - Kuaishou plans to increase support for female creators through investments in traffic, funding, and training, aiming to foster innovation and leadership among women [14]

Core Insights - The global online recruitment industry is expected to grow at a compound annual growth rate of 15% over the next decade, highlighting the urgent need for digital transformation in job recruitment [1] - Live-streaming job recruitment has emerged as a typical scenario for digital empowerment in employment, addressing the pain points faced by blue-collar workers in job searching [1][2] - The introduction of live-streaming recruitment has effectively alleviated the "7-day turnover rate" issue and improved recruitment efficiency while reducing overall hiring costs for manufacturing companies [1][3] Group 1 - The live-streaming recruitment model targets the challenges faced by blue-collar workers, such as low matching efficiency and high recruitment costs [1] - The success of live-streaming recruitment on platforms like Kuaishou has led to significant engagement, with 21,800 live recruitment sessions and over 42,500 recruitment short videos published, accumulating 540 million views [2] - The recruitment industry is undergoing a transformation driven by the integration of industrial upgrading and digital economy, leading to a shift towards video-based, scenario-based, and instant recruitment methods [2] Group 2 - Live-streaming recruitment is becoming a driving force for change in the employment and employment intermediary market, enhancing information dissemination and providing a comprehensive view of work environments for job seekers [3] - The introduction of the new occupation "live recruitment host" by the Ministry of Human Resources and Social Security signifies the formalization of the live-streaming recruitment industry [3] - Future developments in live-streaming recruitment should incorporate advanced technologies such as artificial intelligence, big data, and cloud computing to enhance the intelligence level of recruitment services [3]

Core Insights - The seminar on "The Value Research of Douyin in Promoting High-Quality Full Employment" highlighted the significant role of the Douyin platform in job creation and employment services [1] Group 1: Employment Creation - Douyin's unique "goods find people" mechanism has successfully unlocked consumer potential, leading to approximately 30% of product consumption being driven by this innovative recommendation system, resulting in the creation of 300,000 new jobs [2] - The total number of online jobs created by Douyin reached 800,000, with a net increase of 100,000 jobs when combined with the jobs generated from increased consumption [2] Group 2: Employment Quality Improvement - As of October 2024, over 1,300 government accounts have been established on Douyin, with 73,600 live-streaming job fairs conducted, attracting 244,400 participating companies and providing a total of 3,480,900 job positions [3] - The live-streaming job fair model has improved recruitment efficiency by 37%, and job seekers' income levels have increased by an average of 10% compared to traditional recruitment methods [3] - Short video live-streaming has also enhanced training efficiency by 12%, providing a more convenient and effective way for blue-collar workers to improve their skills [3] Group 3: Employment Ecosystem Development - The rise of short video live-streaming platforms like Douyin has led to the emergence of over 20 new professions, creating a vast employment ecosystem encompassing content creation, logistics, and supply chain management [4] - The "Vitality 28" factory exemplifies this ecosystem, experiencing a 4-5 times increase in production and adding 245 new jobs within three months due to Douyin live-streaming, showcasing the revitalization effect on traditional businesses [4] - Future developments in short video live-streaming are expected to leverage artificial intelligence to enhance job matching efficiency and deepen integration with the real economy, continuously unlocking employment potential [4]