Kuaishou 2Q25 Results: E-commerce Remains Resilient in 3Q
What’s new: Kuaishou’s reported 2Q25 results that top consensus and our expectations. AI monetization could continue to progress well driven by a higher subscriber base for Kling AI. E-commerce rev growth could remain resilient partly driven continued improvement in take rates. We up our PT from HK$70 to HK$85 on improving outlook. Our updated PT of HK$85 implies 14.4x FY26E P/E. We maintain our BUY rating.Analysts:
Jin Yoon
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