Corrected: Kuaishou sells stake in Beijing Kling unit at $15 billion valuation

Kuaishou Technology

02/07/2026 17:25

Corrects July 2 story to fix the investment amount in paragraph 1 to "a maximum of 20.45 billion yuan" from "about 19.05 billion yuan"
July 2 (Reuters) - Chinese short-video platform Kuaishou Technology 1024.HK said on Thursday it will sell a 31.67% stake in its unit Beijing Kling for a maximum of 20.45 billion yuan ($3.02 billion) to companies and independent investors.
     The management valued Beijing Kling, which operates its large video generative model Kling AI, at around $15 billion before the transaction.

Here are some details: 
The parties have agreed that the total subscription price will not exceed 20.45 billion yuan, thus allowing the firm to bring in an additional investor within the next two months.
Two companies controlled by Tencent 0700.HK are among those investing in Beijing Kling.
Following the restructuring, Beijing Kling will continue to hold Kuaishou's AI-related assets.
Kuaishou said in May it would seek external financing as part of a restructuring of Kling AI's assets.


($1 = 6.7779 Chinese yuan renminbi)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Vijay Kishore)
 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))