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Leidi Network, March 25
Kuaishou Technology today released its Q4 and full-year results for 2025. Kuaishou stated that over the past year, it has continuously promoted the deep integration of AI capabilities with business scenarios, maintaining its industry leadership with Kexin AI while continuously empowering the content ecosystem and commercial ecosystem with large model capabilities, achieving high-quality growth in revenue, profitability, and platform operational quality.
The financial report shows that in Q4 2025, Kuaishou's total revenue reached RMB 39.6 billion, a year-on-year increase of 11.8%. Among them, core commercial revenue, including online marketing services and other services, grew by 17.1% year-on-year. Adjusted net profit reached RMB 5.5 billion. In terms of users, in Q4 2025, the average daily active users of the Kuaishou app reached 408 million, and the average monthly active users reached 741 million.
Looking at the full-year performance, Kuaishou's total revenue in 2025 increased by 12.5% year-on-year to RMB 142.8 billion, with an annual adjusted net profit of RMB 20.6 billion, a year-on-year increase of 16.5%, and the adjusted net profit margin rising to 14.5%. While continuously increasing investment in AI, Kuaishou has still achieved a steady improvement in the overall profitability of the group, with AI accelerating its transformation from technical capability to operational results and long-term growth momentum for the platform.
Kuaishou Technology founder and CEO Cheng Yixiao stated: &#34;We are firmly committed to investing in AI technology and have made remarkable progress. Kuaishou's multimodal video generation large model Kexin AI will accelerate iteration in 2025, continuously achieving breakthroughs in model capabilities, product experience, and commercialization, maintaining a globally leading industry position. Looking ahead, we will continue to deepen our understanding of user needs, accelerate the integration and innovative application of AI technology in various business scenarios, and release more value for our users, business partners, and shareholders.&#34;
AI fully enters the operational chain, driving steady growth in core business
Over the past year, Kuaishou has continuously promoted the deep penetration of AI capabilities into the core business chain of the platform, forming a complete capability system from technical foundation, general models, application models to business scenarios. Entering Q4, the empowering value of AI in commercialization, e-commerce, and content ecology has further emerged.
In the online marketing services business, in Q4 2025, Kuaishou's online marketing service revenue reached RMB 23.6 billion, a year-on-year increase of 14.5%. The generative recommendation large model and intelligent bidding model have been continuously upgraded, driving domestic online marketing service revenue up by about 5%. AIGC marketing material consumption was approximately RMB 4 billion. Meanwhile, the UAX fully automated advertising placement product has a consumption penetration rate of nearly 80% in non-e-commerce marketing services, with an active customer penetration rate exceeding 90%, indicating that intelligent placement products have entered a more mature stage of scaled application
In terms of e-commerce business, in the fourth quarter of 2025, Kuaishou's e-commerce GMV increased by 12.9% year-on-year to 521.8 billion yuan. The end-to-end generative search architecture OneSearch continues to iterate and upgrade, driving an approximately 3% increase in mall search order volume; capabilities such as recommendation, search, content generation, long-term interest understanding, and order AI diagnostics continue to be implemented, helping merchants enhance cross-domain operational capabilities, optimize conversion efficiency, and improve operational quality.
On the content ecosystem side, Kuaishou continues to upgrade platform AI capabilities around &#34;content understanding, recommendation distribution, and interactive experience.&#34; The self-developed and open-sourced multimodal large language model Keye-671B demonstrates strong video understanding capabilities; the new tagging system TagNex launched based on this model achieves more precise content understanding, leading to increased user engagement time and retention rates. In content recommendation, the end-to-end generative recommendation large model has further upgraded to the OneRec-V2 version this quarter, continuously enhancing recommendation accuracy. In live streaming scenarios, the AI interactive assistant and &#34;AI Wanxiang&#34; gifts continue to upgrade, and by the end of the fourth quarter, the cumulative generation of &#34;AI Wanxiang&#34; gifts has surpassed 1 million, further enriching the platform's interactive experience.
In terms of organizational efficiency, Kuaishou's self-developed AI programming tool CoderFlicker has become a frequently used intelligent development tool for R&amp;D engineers, with over 40% of the newly added code in Kuaishou being generated by CoderFlicker.
Keling AI continues to break through, entering a new stage of integrated creation.
In 2025, Kuaishou continues to promote upgrades and iterations of Keling AI in model capabilities and product functions. In the fourth quarter, Keling AI successively launched the Keling O1, Keling 2.6, and Keling 3.0 series models, pushing AI video creation from single-point generation to a more integrated and professional creation system.
Among them, Keling O1, as the first unified multimodal creation tool, integrates text, video, images, subjects, and other multimodal inputs, merging all generation and editing tasks into a versatile engine, achieving integrated creation of generation and editing; the milestone launch of the Keling 2.6 model introduced the &#34;audio-visual synchronization&#34; capability, changing the traditional AI video generation model's workflow of &#34;silent images first, followed by manual dubbing,&#34; and launched motion control features, which have sparked widespread discussion on global social platforms; the Keling 3.0 series model, launched in February 2026, further upgrades based on the All-in-One concept, achieving a system leap from basic generation to professional-level creative scheduling.
Keling Video 3.0 globally pioneers the &#34;image-to-video + subject reference&#34; technology.
At the same time, the commercialization progress of Keling AI has also accelerated further. In the fourth quarter of 2025, Keling AI's operating revenue reached 340 million yuan; in December 2025, monthly revenue exceeded 20 million USD, with an annual recurring revenue (ARR) running rate reaching 240 million USD
As of the end of 2025, Kuaishou AI's global user base has exceeded 60 million, generating over 600 million videos and providing API services to more than 30,000 enterprise clients and developers. With continuous improvements in model capabilities, product experience, and industry adaptability, Kuaishou AI is gradually evolving from a video generation tool into a creative infrastructure better suited for professional scenarios such as film, advertising, short dramas, and games.
The user and content ecosystem remains vibrant, and the platform's long-term value continues to solidify.
In terms of platform ecology, Kuaishou continues to optimize content supply, interactive scenarios, and creator growth paths, enhancing community vitality and platform characteristics.
On the user side, in the fourth quarter of 2025, the average daily active users of the Kuaishou app reached 408 million, and the average monthly active users reached 741 million, maintaining a robust platform foundation. In terms of the creator ecosystem, in the fourth quarter of 2025, the upload volume of high-quality content works increased by over 15% year-on-year, with a continuous improvement in the supply of quality original content.
In the interactive ecosystem, private messaging interaction features continue to innovate, driving a nearly 3% year-on-year increase in the penetration rate of daily double-meaning private messages. In terms of content supply, the platform continues to create a differentiated content ecosystem with Kuaishou characteristics, with real content, distinctive verticals, and regional cultural content remaining active, further strengthening community warmth and platform recognition.
In the overseas market, Kuaishou continues to adhere to a high-quality growth path. In the fourth quarter of 2025, overseas business achieved revenue growth, with daily active users and usage duration in the core market of Brazil remaining stable, and marketing and e-commerce businesses continuing to expand, further improving profitability. By continuously optimizing customer acquisition efficiency, strengthening the supply of distinctive content, and enhancing content quality and efficiency through AIGC empowerment, Kuaishou's overseas business is forming a clearer positive cycle.
Proposed dividend of HKD 3 billion
The announcement shows that the company's board of directors has recommended a final dividend of HKD 0.69 per share for the fiscal year 2025, totaling HKD 3 billion. Upon approval by shareholders, this final dividend will be paid on or around July 28, 2026, to shareholders listed on the company's shareholder register as of July 7, 2026.
This is the second announcement of a dividend by Kuaishou following the declaration of its first special dividend since its listing in August 2025.
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Kuaishou Technology released its fourth quarter and full-year results for 2025, with total revenue in the fourth quarter reaching 39.6 billion, a year-on-year increase of 11.8%. Core business revenue grew by 17.1% year-on-year, and adjusted net profit was 5.5 billion. For the full year, total revenue was 142.8 billion, a year-on-year increase of 12.5%, with adjusted net profit of 20.6 billion, up 16.5% year-on-year. Kuaishou continues to increase its investment in AI, driving steady growth in its main business, with AI technology significantly empowering value in commercialization and content ecology. CEO Cheng Yixiao stated that the company will continue to focus on user needs and release more value

Kuaishou's fourth-quarter revenue is 39.6 billion: AI strategy deepens and takes effect, adjusted net profit is 5.5 billion