China's Kuaishou hits 3-week low as quarterly profit falls

Kuaishou Technology

28/05/2026 03:58

** Shares of Chinese short-video platform Kuaishou Technology 1024.HK slip 3.3% to HK$43.8, their lowest point since May 6
** Stock set for biggest one-day pct decline since May 21 in the second declining session 
** Co says its Q1 adjusted net profit fell 26.3% y/y, operating profit down 15.6% y/y while revenue up 3.4% y/y for the quarter ended on March 31  
** Citi maintains "buy" rating and keeps target price at HK$72 given Kuaishou's undemanding valuation and solid potential from Kling despite pressure on ecommerce business and says 1Q26 results came in with core business largely on track 
** "Looking into 2Q26E, we see its GMV growth likely to slow a bit amid weak macro, resulting in weak ecommerce ads" - Citi
** YTD, stock down 28.6%, Hang Seng TECH Index .HSTECH down 11.9%
       


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))