Kuaishou closed higher for the fifth consecutive day, kicking off the platform's 618 e-commerce promotion

Recently, the Hong Kong stock market has maintained an optimistic sentiment, with various indices steadily rising. The Hang Seng Index closed up by 0.42% today, while the Hang Seng Tech Index rose by 0.55%, the latter breaking into a new high for the year at one point during the trading session. In particular, Kuaishou-W rose by 1.63%, marking the fifth consecutive trading day of gains. On the news front, Kuaishou E-commerce kicked off the 618 shopping festival today, with no pre-sale and direct sales of goods, along with announcing incentives such as 1 billion yuan in red packet subsidies. Industry insiders analyze that major e-commerce platforms represented by JD.com, Taobao, and Kuaishou, by eliminating pre-sales and shortening the consumption chain in this major promotion, are expected to boost user enthusiasm for consumption and subsequently drive the performance of e-commerce businesses. During the 38 shopping festival earlier this year, Kuaishou Mall's order volume increased by 28% year-on-year, while the GMV of the overall shelf area increased by 145% year-on-year. Guotai Junan Securities recently published a research report, evaluating the stronger emotional connection and trust between Kuaishou fans and influencers, indicating long-term monetization potential. Major promotions, overall shelf areas, and brand live streaming are expected to drive continuous growth in the company's e-commerce GMV, maintaining a "buy" rating for Kuaishou. Kuaishou-W will also announce its performance for the first quarter of 2024 on May 22nd