China's Kuaishou Technology rises on solid outlook

Kuaishou Technology

28/05/2025 03:06

** Shares of Chinese short video platform Kuaishou Technology 1024.HK rise 6.5% to HK$51.9, their highest levels since May 15

** Stock marks biggest intraday pct rise since March 6, and is top pct gainer in the Hang Seng Index .HSI and the Hang Seng Tech Index .HSTECH, which are up 0.1% and 0.3%, respectively

** Kuaishou posts first-quarter net income of 3.98 billion yuan ($136.2 million) and revenue of 32.61 billion yuan

** Jefferies maintains "buy", citing that Kuaishou's first-quarter results with revenue and non-IFRS earnings came in ahead of market expectations

** Brokerage expects the firm to execute on track in total revenue and non-IFRS earnings in 2Q and full-year outlook is intact

** Citi keeps "buy" rating, citing Kuaishou's 1Q25 results were largely in line and that ads growth could accelerate a bit in 2Q25E and expects ads growth to pick up in 2H25E

** YTD, stock up 23.8%

($1 = 7.1968 Chinese yuan)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))