UBKUASO@EP2610A

Kuaishou announces enhanced live-streaming content governance, having penalized over 18,000 non-compliant live-streaming rooms

Alibaba releases "HappyHorse" AI video model, led by former Kuaishou AI head, intensifying industry competition

Kuaishou Technology plans to hold its Annual General Meeting on June 25, 2026

People's Daily article emphasizes high-quality development driven by new quality productive forces, mentioning tech companies like Kuaishou

Hongguo Short-form Drama's MAU Far Exceeds Kuaishou Xifan, Highlighting Fierce Market Competition

Kuaishou's Keling AI enters the audio-visual industry, significantly reducing costs and shortening production cycles

Kuaishou to Hold E-commerce Merchant Conference from April 22-23

Kuaishou Explains the Progress of its Keling AI at the 13th China Internet Audio & Video Convention

Singapore Exchange Adds Three Hong Kong Stock Depository Receipts, Including Kuaishou

Kuaishou Emphasizes Co-building a Valuable and Warm Audio-Visual Ecosystem

Kwai strengthens short drama content management

Hong Kong Stock Exchange seeks market feedback on T+1 settlement cycle reform

Chinese regulators crack down on illegal stock recommendation scams on social media

Kuaishou's AI video generation app 'Keling AI' is officially launched on the HarmonyOS platform

Kuaishou Establishes New Artificial Intelligence Technology Subsidiary

Adobe Announces Integration of Kuaishou's Kling AI Video Models into its Firefly Creative Suite

Kuaishou Executive Vice President Ma Hongbin Introduces Kuaishou's 'Digital New Bazaar' and Promotes Real Economy Development

Kuaishou executive reveals its AI model 'Kling' is deeply involved in film and television production, significantly reducing costs and shortening production cycles.

Kuaishou Launches Special Support Policy for Small and Medium-sized Merchants in April 2026

CICC Maintains 'Outperform' Rating on Kuaishou with a HK$72.8 Target Price

ASIA TELE-NET

WAI CHUN GROUP

SILKWAVE INC

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BGMC International

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GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

Geely Auto

KUAISHOU-WR

Singapore Exchange Will Introduce Three New Hong Kong-Listed Singapore Depository Receipts

At the 13th China Online Audio-Visual Conference, Kuaishou Senior Vice President Ma Hongbin introduced the application of Kuaishou's Kling AI in film and television production. Kling AI participated in virtual scene production for the TV drama 'Peaceful Years', reducing a traditional two-month task to just two weeks. In the micro-drama sector, production costs can be cut to less than one-third of traditional levels, with cycles shortened by over 60%. The advancements in Kling AI are driving the industry to shift from resource competition to imagination competition

Wallstreetcn

Kuaishou's Kling AI Deepens Integration into Audio-Visual Industry: Significantly Reduces Costs and Shortens Production Cycles

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CICC released a report listing the investment ratings and target prices for Chinese technology stocks, including Tencent, NetEase, KUAISHOU, and several other companies, all rated as "outperforming the industry." The target prices are HKD 666 for Tencent, USD 171 for NetEase, and HKD 72.8 for KUAISHOU, among others

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Tencent Holdings Limited

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NetEase

NETEASE MUSIC

MEITUAN

In "Major Banks," CICC lists investment ratings and target prices for Chinese technology stocks (table)

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Liu Xiaochun, Director of the Internet Law Research Center at the University of Chinese Academy of Social Sciences, stated that the new regulations on live streaming tipping aim to address chaos in the industry, particularly regarding the protection of minors. Minors' tipping behavior while watching live streams often does not align with their cognitive abilities, potentially leading to irrational and high-value tipping. Platforms and streamers may also engage in guiding or inducing such behavior

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Tencent Music

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Bilibili

Global X Funds Social Media

Krne Csi China Internet

Why Were 11 Regulations on Live Streaming Tipping Introduced and What Is Their Significance? Expert Analysis

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Hong Kong stocks weakened across the board today, with market sentiment significantly under pressure. Blue-chip stocks collectively retreated, dragging the index down to test support levels, and the Hang Seng Index gave back some of its previous rebound gains. On the market, AI concepts and innovative technology companies became the only bright spot in the weak market, performing exceptionally well. DEEPEXI TECH led a group of small and mid-cap AI stocks to surge against the trend, reflecting that during the index adjustment phase, major funds are accelerating their shift towards hardcore tracks with high technological growth potential and expectations of commercial revaluation

- The Hong Kong stock market closed lower, with the Hang Seng Index falling by 0.90% to 25,660.85 points, reflecting weakened market sentiment.  
- The technology sector experienced significant declines, while AI-related companies like Dipu Technology surged by 59.19%, showing strong investor interest in AI commercialization.  
- Overall, market performance remains cautious, impacted by macroeconomic factors and liquidity fluctuations; investors are advised to monitor trade data and policy trends closely.

LB Select

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LENOVO GROUP

DEEPEXI TECH

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BUTONG GROUP

51WORLD

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HAIZHI TECH GP

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POP MART

CNOOC

SMIC

Hong Kong stocks closed | All three major indices retreated, risk aversion spread, DEEPEXI TECH surged nearly 60% against the trend

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The Cyberspace Administration of China issued a notice to regulate online live streaming tipping behavior, prohibiting minors under 8 years old from tipping and requiring guardian consent for those aged 8 to 16. The stock prices of Kuaishou, Alibaba, and Tencent fell due to the news. The notice also stipulates tipping rules, limit functions, and user privacy protection, aiming to safeguard the rights and interests of internet users and promote healthy industry development. Local departments need to strengthen management and implement responsibilities

- The Chinese Cyberspace Administration issued a notification to strengthen regulations on online live-streaming rewards, aiming to ensure compliance and protect netizens' rights.  
- Following the announcement, shares of Kuaishou, Alibaba, and Tencent fell by over 1.4%, 2%, and nearly 3%, respectively.  
- Key measures include clear reward rules, user protection for minors, and the establishment of a negative list for profit-making behavior, while local authorities are urged to enforce these regulations effectively.

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Alibaba

BABA-W

KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

Mainland China strengthens regulations on online live streaming rewards: No rewards for those under 8 years old; minors require guardian consent

As of the time of publication, the three major indices of the Hong Kong stock market are collectively maintaining an upward trend, with market sentiment remaining stable amidst fluctuations. The Hang Seng Index reported 25,864.12 points, although it has retreated from earlier highs, it still successfully held onto its gains. On the market, digital assets, new energy, and AI innovation themes are performing exceptionally well, becoming the core direction for capital chasing elasticity. Boosted by the news of Hong Kong issuing the first batch of stablecoin licenses, GUOTAI JUNAN I soared over 31% throughout the day, effectively activating the activity in the fintech sector

- The Hong Kong stock market shows resilience, with the Hang Seng Index up 0.43% to 25,864.12 points, despite some retreat from earlier highs.  
- Significant fluctuations were seen in the telecommunications sector, while the technology and new energy themes attracted investment, particularly in lithium battery and digital asset stocks.  
- Economic recovery and external demand are key focuses, impacting market liquidity and sector rotation as investors respond to policy signals and macroeconomic data.

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Hong Kong stock market intraday | The Hang Seng Index rose slightly by 0.43%, thematic stocks surged across the board, and Guotai Junan International soared over 31%

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As of noon, the three major indices of the Hong Kong stock market have collectively entered a correction, with the Hang Seng Tech Index leading the decline, putting short-term pressure on market sentiment. On the market, AI computing power and large model sectors performed remarkably, becoming the core track for capital inflows against the trend. Leaders XunCe and ZhiPu both surged significantly, effectively offsetting the impact of the weakening of tech blue chips, reflecting the market's high recognition of hard technology and innovation sectors

- As of April 9, Hong Kong's stock market indices faced a collective decline, with the Hang Seng Index down 0.35% at 25,801.87 points.  
- The technology sector exhibited significant divergence; while AI-related stocks like XunCe and ZhiPu rose sharply, leading firms in internet content like Kuaishou fell, indicating cautious sentiment in advertisement growth.  
- Market focus shifted to AI innovations and high-growth stocks amid macroeconomic fluctuations, with increasing scrutiny on international trade and structural investment opportunities.

KNOWLEDGE ATLAS

Hong Kong Stock Midday Review | Hang Seng Index slightly fell by 0.35%, technology sector performance varied, AI computing power rose against the trend, XunCe surged by 15.58%

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Rating agency S&P warned that KUAISHOU's free cash flow may shrink by more than half this year due to intense competition in the Chinese internet sector and increased demand for AI investments. Capital expenditures are expected to increase by about 70%, primarily for AI model training and data center construction. S&P predicts that KUAISHOU's free cash flow will drop to less than RMB 5 billion annually in 2026 and 2027, down from the previous estimate of RMB 10 billion, with free cash flow for 2025 estimated at around RMB 12 billion

Guotai MSCI China A ESG General ETF

AXA SPDB CSI Hugangshen Game and Culture Media ETF

Yinhua MSCI China A ETF

Penghua CSI Media ETF

Harvest Hang Seng SCHK Technology ETF

S&P: KUAISHOU's free cash flow may be cut by more than half this year, with capital expenditures increasing by 70%

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As of the close, the Hong Kong stock main board performed extremely strongly throughout the day, with all three major indices recording significant gains, and market sentiment experiencing a significant recovery. The Hang Seng Tech Index outperformed the market, rising over 5%, successfully reclaiming ground lost in recent adjustments. In the market, technology hardware and communication equipment sectors were particularly outstanding, becoming the core focus for capital inflow for the day. Leading stocks such as ILUVATAR COREX and YOFC saw increased trading volume and led the gains, effectively driving the activity in the domestic AI computing power and optical communication industry chains

- The Hong Kong stock market saw significant gains, with the Hang Seng Index closing at 25,893.02, up 3.09%, recovering above 25,000 points.  
- The technology sector led the rally, particularly Longi Green Energy and Tencent, which rose 18.94% and 3.84%, respectively, driven by strong investor interest.  
- Macro factors such as export data and liquidity improvements influenced market sentiment, with investors showing a preference for growth opportunities despite some sectors experiencing capital outflows.

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Hong Kong Stocks Close | HSI Surges 3.09% Back Above 25,800; Tech Hardware Leads Gains, Hang Seng Tech Index Soars Over 5%

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As of the close, the three major Hong Kong stock indices collectively rebounded, and market sentiment recovered significantly. The HSI returned to the 25,000-point mark, with the technology index outperforming the broader market, sweeping away the previous adjustment phase. In the market, the technology hardware and communication equipment sectors were extremely active throughout the day, becoming the absolute main attractors of capital. Leaders ILUVATAR COREX and YOFC surged on heavy volume, successfully driving resonance across the domestic AI chip and optical communication industry chains, reflecting a strong investor preference for high-prosperity sectors

- As of market close, Hong Kong's three major indices rebounded, with the Hang Seng Index rising 2.81% to 25,821.88 points.  
- The technology hardware and communication equipment sectors saw significant gains, with notable individual stocks like Tensu ZhiXin up by 29.48%.  
- Investors are increasingly focused on macroeconomic indicators, affecting market structure and trading activity as they seek opportunities in sectors with high growth potential.

FIT HON TENG

NANFANG COMM

Hong Kong Stocks Midday Review | HSI Surges 2.81% to Steady Above 25,000 Mark; Tech Hardware Strong Throughout the Day, ILUVATAR COREX Soars 29.48%

KUAISHOU-W disclosed its report, on April 2nd, repurchased 1.1 million shares on the Stock Exchange, with a price per share ranging from HKD 44.82 to 45.08, totaling approximately HKD 49.39 million. Since the ordinary resolution (June 19, 2025) was passed, the company has repurchased a total of 30.5119 million shares, accounting for 0.7122% of the share capital

KUAISHOU repurchased 1.1 million shares, involving an amount of 49.39 million yuan

CSC Financial has reaffirmed its Buy rating on Kuaishou Technology Class B (HKEX: 1024) with a price target of HK$71.20. This follows a similar Buy rating from Jefferies’s Thomas Chong on March 27. Conversely, Barclays maintained a Hold rating on the stock on March 25.

- CSC Financial has reiterated a Buy rating for Kuaishou Technology Class B, setting a price target of HK$71.20.  
- Additionally, Jefferies's Thomas Chong issued a Buy rating for the same stock on March 27.  
- Conversely, Barclays maintained a Hold rating on Kuaishou Technology Class B on March 25.

Tip Ranks

CSC Financial Reaffirms Their Buy Rating on Kuaishou Technology Class B (1024)

Kuaishou

Hot topic

$KUAISHOU-W(01024.HK) sold off mainly on guidance from a small-group meeting (1Q26 &amp; 2026), which was broadly weak and fell well short of buy-side expectations. Management flagged pressure on top-line growth alongside higher investment, implying a sharp YoY decline in profit.1) Biggest drag: e-comm growth concerns — ads guided to low single-digit and GMV to stop being disclosed next year. Management now expects ad revenue growth of 8-9% in Q1 and 6-7% for the full year, a marked slowdown vs. 2025. While GMV will no longer be reported next year...

ByteDance

Guide miss tanks shares; Is Kuaishou at $25bn a buy-the-dip?---

It’s good that the sustainable fuel tax is delayed amid this oil crisis. Hope the war will end by Oct.

Iran rejects United States ceasefire planOil volatility likely near-term. Markets typically price geopolitical risk quickly, then fade unless supply disruption occurs. Energy exposure = tactical hedge, not long-term thesis. Google KV cache compressionNegative sentiment for memory stocks short term, but AI demand still exploding structurally. Likely noise, not disruption to long-run DRAM growth. SpaceX possible IPOExtremely strong retail interest expected. Valuation will be key—great company doesn’t always mean great entry price. Prefer watching listing momentum first

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Boustead Return Rate

Sheng Siong

Apple

Dacai

Trump's going to lose this war. The more he talks means the more he's pretending it's going well.

🇺🇸🇭🇰🇸🇬 Big moves across US, HK, SG markets. Join the chat &amp; earn Task Coins!

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Pony AI

PONY-W

Tesla

MEITUAN-WR

Stoneweg EUTrust EUR

Landmark REIT

BOYD Gaming

Apple Group

Alphabet - C

Alphabet

Meituan HK SDR 5to1

☕️ Daily Market Talk | March 26, 2026

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Iran rejects US ceasefire plan — triggering increased oil volatility and exacerbating US dollar exchange rate fluctuations. Investment should still focus on hedging.

I believe US and IRAN are talking, it's just question of will they iron out their differences. Both have nothing to gain as the war continues...

The google report on memory stocks is classic Jevons paradox. Market perceives it as less memory needed= less demand. But the efficiency gains may actually expand AI use cases and total compute demand. Total demand might actually increase! Technically, if the recent lows hold, which they are despite the pull back, it can still be counted as the second wave of the fifth wave. So I am expecting a bounce pretty soon and a rally to new highs once smart money has collected enough.

Oil spikes on geopolitics tend to overshoot, and with fuel uncertainty still high, this is a pure volatility tradeAI demand is still compounding history shows innovation expands usage,not kills itSpaceX IPO will likely ride strong FOMO from both retail and institutions, but aggressive valuation and heavy capex mean discipline matters more than hypeVolatility trade,keep tight stop loss

SpaceX IPO definitely exciting. I’ve been following this company since many years ago, and finally Elon decided to take it public. It has shown its effect on all aerospace-related stocks.

SpaceX IPO at $75B+ valuation would be largest in years. But space infrastructure monetization still early stage

Conference Minutes

Below is Dolphin Research's Trans of Kuaishou's FY25 Q4 earnings call. For our take, see 'Kling Takes Off, Legacy Biz Delivers — Can Kuaishou Sustain an AI Re-rating?'. Key financials recap: 1) Shareholder returns — the BOD proposes a final dividend for the year ended Dec 31, 2025 of approx. HK$3.0bn; buybacks in 2025 total approx. HK$3.12bn (~56.78 mn shares, ~1.32% of shares outstanding), with a flexible approach to buybacks and dividends going forward...

Kuaishou (Trans): Ramp AI investment this year; flexible on buybacks and dividends

UBKUASO@EP2610A(28376.HK)

UBKUASO@EP2610A Stock Performance Chart

Singapore Exchange Will Introduce Three New Hong Kong-Listed Singapore Depository Receipts

Kuaishou's Kling AI Deepens Integration into Audio-Visual Industry: Significantly Reduces Costs and Shortens Production Cycles

In "Major Banks," CICC lists investment ratings and target prices for Chinese technology stocks (table)

Why Were 11 Regulations on Live Streaming Tipping Introduced and What Is Their Significance? Expert Analysis

Hong Kong stocks closed | All three major indices retreated, risk aversion spread, DEEPEXI TECH surged nearly 60% against the trend