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Bank Ratings | Bank of America: Raising Kuaishou's Target Price to HK$78 and Adjusted Net Profit Forecast for FY2024 and FY25
Bank of America Securities published a report stating that Kuaishou once again handed over a satisfactory performance, business growth is on the right track, profit growth is strong, and the prospects are promising. The bank believes that Kuaishou's business growth prospects are still optimistic, mainly due to the good momentum of the 618 promotion and the expanding e-commerce shopping scene. The company said that while the ad load was stable in the first quarter, advertising pricing was also improving. At the same time, improving efficiency and controlling operating costs by shifting to a combination of e-commerce and advertising businesses with high profit margins will continue to drive profit growth. Overall, the bank maintained Kuaishou's forecast of a 25% year-on-year increase in product turnover for the second fiscal quarter and the full year, same
BOC International: Maintaining Kuaishou-W (01024) “Buy” Rating Target Price of HK$75
The Zhitong Finance App learned that BOC International released a research report stating that maintaining the Kuaishou-W (01024) “buy” rating is based on a price-earnings ratio of 15 times in 2024 and a profit of 19.5 billion yuan from domestic business, with a target price of HK$75. At the same time, considering the faster than expected cost optimization trend and potential increases in e-commerce and local living allowances, the bank raised its adjusted net profit forecast for 2024 by 12% to RMB 18.1 billion. According to the report, Kuaishou's total revenue for the first quarter of 2024 was 29.4 billion yuan, up 17% year on year, in line with expectations. Cost and expense optimization was better than expected, with adjusted net profit of 4.4 billion yuan
[Broker Focus] BOC International maintains Kuaishou (01024) purchase rating indicating that its profit may still have room to increase
Jinwu Financial News | According to BOC International Development Research Report, Kuaishou (01024)'s total revenue for the first quarter of 2024 was 29.4 billion yuan (same below), up 17% year on year, in line with expectations. Cost and expense optimization was better than expected. The adjusted net profit was 4.4 billion yuan, which greatly exceeded market expectations by 37%. E-commerce GMV increased 28% year over year, in line with expectations, and the share of pan-shelf GMV further increased to ~ 25%. The growth rate of internal circulation advertising revenue is faster than GMV, and the rapid growth of external circulation advertising has benefited from increased marketing in the media information/game/education industry. According to the bank, e-commerce GMV is expected to increase 25% year-on-year in the second quarter. Electricity
Hong Kong Stock Announcement Nuggets | Kuaishou-W's adjusted net profit for the first quarter was 4.388 billion yuan, up 10347.6% year-on-year, and e-commerce business GMV reached 288.1 billion yuan
Kuaishou-W (01024) plans to buy back the company's Class B common shares worth no more than HK$16 billion within the next 36 months; Jinshan Software (03888) announced first-quarter results, and shareholders' profit of $285 million increased 48% year over year
GLONGHUI ANNOUNCEMENT SELECTION (HK Stocks) | HK$16 billion! Kuaishou officially announced a major repurchase plan
[Today's Focus] HK$16 billion! Kuaishou officially announced a major repurchase plan on May 22. After Kuaishou released its results for the first quarter of 2024, Kuaishou officially announced the launch of a new round of stock repurchase plans. According to the announcement, Kuaishou plans to repurchase shares with a total value of not more than HK$16 billion over the next three years after the 2024 shareholders' meeting. Kuaishou's HK$4 billion repurchase plan launched in May last year will expire at the shareholders' meeting in June this year. Up to now, the company has repurchased Class B shares worth HK$3.09 billion. Kuaishou pointed out in its announcement that the share repurchase shows that the company has full confidence in its business outlook and prospects.
Correction to Kuaishou Earnings Article
Kuaishou's selling and marketing expenses rose 7.6%, while administrative expenses dropped 50%. "Kuaishou Beat Earnings Estimates, Helped by Online Marketing, E-Commerce -- Update," at 0930 GMT, incor
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