New Street Research - BEIJING KUAISHOU TECHNOLOGY (1496219D) New Street: Kuaishou 1Q22 Results - Revenue Recovery Could be Uneven Post Covid Lockdown

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New Street Research

Jin Yoon

New Street: Kuaishou 1Q22 Results - Revenue Recovery Could be Uneven Post Covid Lockdown

What's new: Kuaishou reported 1Q22 results were above consensus and our expectations. While user growth momentum could continue in 2Q, near-term revenue outlook could remain challenging amid rolling covid lockdowns and downtrodden macro environment. We lower our PT from HKD 122 to HKD 95. Our revised PT of HKD 95 implies a 2.9x FY22E EV/Rev.

Analysts:
Jin Yoon

30/05/2022 1 EN

Underlying

BEIJING KUAISHOU TECHNOLOGY

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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New Street: Kuaishou 1Q22 Results - Revenue Recovery Could be Uneven Post Covid Lockdown

Kuaishou 2Q24 Preview: E-commerce Could be Under Pressure in 2Q

Kuaishou 1Q24 Results: OMS Could Remain Resilient

Kuaishou 4Q23 Results: Margins to Further Improve in 2024

BEAD: Louisiana releases final proposal

Cisco 4FQ25: Cyclical recovery played out; healthy but slowing outlook. Neutral, $70 TP

Nvidia & AMD: What next after the recent rally?

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