Kuaishou Q1 Adjusted Net Profit Exceeds Expectations; Plans to Buy Back Up to HKD 16 Billion

Q1 2024 Results:
- Revenue: RMB 29.41 billion (+16.6% YoY)
- Operating Profit: RMB 3.994 billion (13.6% of revenue)
- Net Profit: RMB 4.1 billion (14.0% profit margin)
- Adjusted Net Profit: RMB 4.388 billion (exceeding expected RMB 3.2 billion)
- Gross Margin: Increased from 46.4% to 54.8%

User Statistics:
- Daily Active Users (DAUs): 394 million (+5.2% YoY)
- Monthly Active Users (MAUs): 697 million (+6.6% YoY)
- Average Daily Usage per DAU: 129.5 minutes

Stock Buyback Plan:
- New Buyback Plan: Up to HKD 16 billion over the next three years
- Previous Plan: HKD 4 billion, expiring in June
- Repurchased to Date: HKD 3.09 billion worth of Class B shares

Kuaishou's improved profitability and ambitious buyback plan reflect strong performance and confidence in future growth.