Kuaishou adjusted profit up 12 percent in first half, declares special dividend

Kuaishou Technology (1024) recorded a 12.5 percent rise in adjusted net profit to 10.2 billion yuan (HK$11.1 billion) for the first half of the year and declared a special dividend of 46 HK cents. 

Revenue for the period also increased by 12 percent to 67.7 billion yuan. 

In the second quarter alone, the short-video platform posted a 13.1 percent growth in revenue to 35 billion yuan, beating the 34.5 billion yuan forecasted by analysts. Revenue from its Kling AI surpassed 250 million yuan. Adjusted profit for the quarter grew by 20 percent to a record 5.6 billion yuan, also surpassing estimates of 5 billion yuan. 

For the half year, Kuaishou’s average daily active users rose 3.5 percent to 408.5 million and the total e-commerce gross merchandise value also climbed by over 16 percent to 691 billion yuan. 

The company said it will maintain its strong investment in AI and continue to explore the potential of AI technology in empowering creators, marketing clients, and merchants, identifying and unlocking new, high-potential monetization opportunities in the second half.