Kuaishou Technology (1024.HK) Cost control performed well, e-commerce and overseas business became new growth drivers January 19, 2023 69

PSR Recommendation: BUY Status: Initiation
Target Price: HKD91.30

Overview
Kuaishou (1024.HK) main business includes online marketing services, live streaming
and other services (including e-commerce). Online marketing business income
mainly comes from short video and live broadcast advertisements, live stream
business income mainly comes from paid content and the revenue sharing of users
buying virtual items as gifts to anchors, other service income mainly comes from ecommerce.
A review of Q3 2022 Results
Kuaishou (1024.HK) has announced the Q3 report ended September 30 2022. The
company’s revenue amounted to RMB 23.1 billion, increasing 12.9% YoY. Gross
profit amounted to RMB 10.7 billion, increasing 25.8%. Gross profit margin was
46.3%, increasing 4.8 percentage point YoY. Operating loss was RMB 2.6 billion,
loss narrowed by 64.7% YoY. The loss for the period was RMB 2.7 billion, loss
narrowed by 61.7% YoY. Adjusted net loss amounted to RMB 671.9 million, loss
narrowed by 85.4% YoY. Adjusted EBITDA amounted to RMB 1.02 billion, out of the
red YoY.

About the author

Profile photo of Elvis Kwok

Elvis Kwok
Analyst
Research

香港恒生大學金融分析一級榮譽畢業,具有股票研究、技術分析和投資經驗。現為輝立証券持牌分析師,主要負責遊戲?娛樂?食品等板塊研究。 Elvis holds a BBA degree with first class honor major in Financial Analysis at the Hang Seng University of Hong Kong. He has experience in equity research, technical analysis and investment experience. He is currently a licensed research analyst at Phillip Securities and mainly covers Gaming, Entertainment and Food sectors.

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