Kuaishou Technology (1024) says its adjusted net profit rose 4.4 percent to 4.58 billion yuan (HK$5 billion) for the first quarter, and that its large video generation model accelerated its commercialization, generating over 150 million yuan in revenue.
Revenue for the Chinese short-video platform during the period increased by 10.9 percent to 32.61 billion yuan, but its operating profit only grew by 6.6 percent to 4.26 billion yuan.
Revenue from its online marketing services increased by 8 percent to 18 billion yuan for the quarter, primarily attributed to an increased consumption from marketing clients, driven by intelligent product placement solutions and the application of artificial intelligence in online marketing solutions, it said in a filing on Tuesday.
Sales from its live-streaming business rose by 14.4 percent to 9.8 billion yuan, primarily due to refined operations and diversified high-quality content.
Revenue from other services increased by 15.2 percent to 4.8 billion yuan, thanks to the growth of its e-commerce business. Its e-commerce gross merchandise value grew by 15.4 percent to 332.3 billion yuan, with the number of monthly average active paying users reaching 135 million.
Kuaishou said its focused strategy on core international markets yielded tangible results after two years of implementation, delivering a positive quarterly operating profit for the overall overseas business for the first time in the first quarter of 2025.
The number of average daily active users on the Kuaishou App reached a new record high of 408 million in the first quarter, the company said.
STAFF REPORTER
