Group 1 - The company Kuaishou-W (01024.HK) announced the issuance of USD 600 million notes due in 2031, USD 900 million notes due in 2036, and RMB 3.5 billion notes due in 2031 or on interest payment dates thereafter [1] - The issuance prices for the 2031 USD notes, 2036 USD notes, and RMB notes are set at 99.402%, 99.153%, and 100.00% of the principal amounts, respectively [1] - The stock has a market capitalization of HKD 357.52 billion, ranking first in the computer applications industry [1] Group 2 - In the past 90 days, 22 investment banks have given a buy rating for Kuaishou-W, with a target average price of HKD 90.87 [1] - Dongfang Securities recently issued a report giving Kuaishou-W a buy rating with a target price of HKD 103.27 [1]

Core Viewpoint - Kuaishou-W (01024) announced the issuance of a total of $600 million in 2031 U.S. dollar notes, $900 million in 2036 U.S. dollar notes, and RMB 3.5 billion in RMB notes, with specific terms for maturity and redemption [1][2] Group 1 - The 2031 U.S. dollar notes will bear an annual interest rate of 4.125%, with interest accruing from January 22, 2026, and payable semi-annually starting July 22, 2026 [2] - The 2036 U.S. dollar notes will have an annual interest rate of 4.750%, with similar interest accrual and payment terms as the 2031 notes [2] - The RMB notes will carry an annual interest rate of 2.450%, with interest accruing from January 22, 2026, and payable semi-annually [2] Group 2 - The total proceeds from the issuance of the U.S. dollar notes, before deducting underwriting commissions and estimated offering expenses, will be approximately $1.489 billion [2] - The total proceeds from the issuance of the RMB notes, before deductions, will be approximately RMB 3.5 billion [2] - The net proceeds from the issuance of the notes are intended for general corporate purposes [2]

Group 1 - The company will issue a total of $600 million in 2031 USD notes, $900 million in 2036 USD notes, and RMB 3.5 billion in RMB notes, with respective maturities on January 22, 2031, and January 22, 2036 [1] - The issuance prices for the 2031 USD notes, 2036 USD notes, and RMB notes are set at 99.402%, 99.153%, and 100.00% of the principal amounts, respectively [1] Group 2 - The 2031 USD notes will bear an annual interest rate of 4.125%, with interest accruing from January 22, 2026, and payable semi-annually starting July 22, 2026 [2] - The 2036 USD notes will have an annual interest rate of 4.750%, with similar interest accrual and payment terms as the 2031 notes [2] - The RMB notes will carry an annual interest rate of 2.450%, with interest accruing from January 22, 2026, and payable semi-annually [2] Group 3 - The total proceeds from the issuance of the USD notes, before deducting underwriting commissions and estimated expenses, will be approximately $1.489 billion [2] - The net proceeds from the issuance of the RMB notes will be approximately RMB 3.5 billion, intended primarily for general corporate purposes [2]