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]