Core Insights - Kuaishou is advancing its AI strategy, achieving both growth quality and profitability improvements while maintaining continuous investment [2] - The company reported a total revenue of 35.6 billion yuan, a year-on-year increase of 14.2%, with core business revenue growing by 19.2% [2] - Operating profit increased by 69.9% to 5.3 billion yuan, and adjusted net profit rose by 26.3% to 5 billion yuan, with an adjusted net profit margin of 14% [2] User Metrics - Average daily active users reached 416 million, marking a historical high for three consecutive quarters, while average monthly active users reached 731 million [2] - User engagement improved, with daily private message penetration among dual-active users increasing by over 3% year-on-year [2] AI Integration in Business - Kuaishou is deepening the application of AI technology across content and commercial scenarios, enhancing efficiency in key areas such as content understanding and marketing optimization [2][3] - The OneRec generative recommendation model and G4RL bidding model contributed approximately 4-5% incremental revenue to online marketing services [3] E-commerce Performance - E-commerce GMV grew by 15.2% year-on-year to 385 billion yuan, supported by various policies and tools that enhance user retention and trust [5] - The introduction of OneSearch improved product matching and user understanding, leading to a nearly 5% increase in search order volume [5] Video Production Capabilities - Kuaishou's AI video model, Keling 2.5 Turbo, has significantly improved video generation capabilities, reducing costs by approximately 30% [6][7] - The Keling AI platform has surpassed 45 million global users, generating over 200 million videos and 400 million images [7] Financial Outlook - The CFO indicated that Kuaishou's AI-related revenue is expected to exceed 1.4 billion USD for the year, more than doubling the initial target [8] Community and Content Engagement - The community interaction has strengthened, with daily private message penetration among dual-active users increasing by over 3% year-on-year [10] - Kuaishou's live streaming revenue reached 9.6 billion yuan, with a healthy growth in the number of signed agencies and streamers [11] International Expansion - Kuaishou is focusing on high-quality growth in international markets, particularly in Brazil, while optimizing customer acquisition and maintaining steady development [11]

证券时报记者 李明珠 8月21日，快手科技举行2025年第二季度业绩电话会议，快手科技创始人兼首席执行官程一笑在回答分 析师关于线上营销收入增速以及AI赋能进展的提问时表示，第二季度快手线上营销服务收入达到198亿 元，同比增长12.8%，同比增长率较第一季度实现提升。 内循环营销服务方面，快手通过产品和流量策略的迭代，助力电商商家提升全域智能经营效率。本季 度，快手进一步升级了全站推广产品，迭代了智能出价、素材追投、全站多品等多个核心工具，保障商 家投放的极简操作，实现商家营销素材投放的稳定性。本季度全站推广产品的消耗占内循环总消耗的比 例进一步提升。 从场域来看，泛货架场域电商相关的营销服务收入实现高速增长。本季度快手重点优化了泛货架场域的 流量分发策略，加强和电商业务的协同及对用户兴趣的挖掘，并针对货架商城、买家首页、猜你喜欢等 场景单独建模，提升电商和商业化同向性，实现了商家的销售转化率和内循环ecpm的同向提升。 从行业机会来看，程一笑认为，以本地生活和汽车为代表的区域线索行业、以短剧和小游戏为代表的内 容消费行业将保持相对更高速的增长。内循环领域，今年上半年泛货架的内循环收入实现了同比高速增 长， ...