SGKUASO@EC2603A(29375.HK)

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SGKUASO@EC2603A
29375.HK
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According to Citigroup, the penalty imposed by the Beijing Cyberspace Administration on KUAISHOU-W is within a controllable range, maintaining a "Buy" rating

Citi's research report pointed out that the Beijing Cyberspace Administration fined KUAISHOU-W 119.1 million yuan for failing to fulfill its cybersecurity protection obligations. Citi believes that the fine is within a controllable range, and the rectification requirements have limited impact on KUAISHOU-W's live streaming and e-commerce businesses, suggesting that regulatory scrutiny may have come to a close. Based on KUAISHOU-W's potential in generative AI, it maintains a "Buy" rating with a target price of HKD 95

AASTOCKS·
HK
01024
-4.28%
AASTOCKS·
HK
01024
-4.28%

KUAISHOU-W fell 4% in early trading and was fined nearly 120 million yuan by the Beijing Internet Information Office

KUAISHOU's stock price fell 4% to HKD 68.4 in the morning session due to a large sell order involving 117,800 shares, amounting to HKD 809 million. The company was fined nearly RMB 120 million by the Beijing Cyberspace Administration for a large amount of pornographic and vulgar content on its platform and was required to rectify the situation and hold responsible parties accountable. In addition, KUAISHOU has reached a cooperation agreement with China Central Television (CCTV), allowing users to make reservations for the live broadcast of the 2026 Spring Festival Gala

AASTOCKS·
HK
01024
-4.28%
AASTOCKS·
HK
01024
-4.28%

China fines Kuaishou over $17 million for failure to curb offensive content

China's cyberspace regulator fined Kuaishou Technology 119.1 million yuan ($17.2 million) for failing to control pornographic and vulgar content on its platform. The fine follows a cyberattack on December 22, which exposed users to explicit content. Kuaishou admitted to not responding quickly enough and pledged to rectify the issue. The regulator criticized the company for not addressing system vulnerabilities and ordered remedial actions. This follows a previous fine of 26.7 million yuan for other offenses related to its e-commerce unit.

Reuters·
HK
01024
-4.28%
Reuters·
HK
01024
-4.28%

The Cyberspace Administration imposed penalties on the KUAISHOU platform in accordance with the law

The Beijing Internet Information Office issued a warning and a fine of 119.1 million RMB to KUAISHOU Technology Co., Ltd. for failing to fulfill its cybersecurity protection obligations. Investigations revealed that the KUAISHOU platform did not promptly address system vulnerabilities and illegal information posted by users, with serious circumstances and a negative impact. The company has been ordered to rectify the situation within a specified period and to handle the relevant responsible persons according to the law

Wallstreetcn·
HK
01024
-4.28%
Wallstreetcn·
HK
01024
-4.28%

Hong Kong Stock Market Closing | Hang Seng Index Pulls Back, Small-Cap Stocks like Southern Communications Surge, Internet and Insurance Sectors Lead Decline

Today, the Hong Kong stock market closed with all three major indices retreating. The Hang Seng Index fell by 1.21%, the Hang Seng Tech Index dropped by 1.11%, and the National Enterprises Index decreased by 0.68%. The overall market experienced a high-level correction, with key sectors such as internet, retail, and insurance generally weakening. Core stocks like Tencent Holdings, Alibaba -W, and AIA Group saw significant declines, reflecting rising risk aversion and weak consumer confidence. Market hotspots were concentrated in small-cap stocks like Southern Communications and Long Resources, which experienced significant fluctuations and active trading. External macro variables and liquidity expectations continue to impact the capital situation of Hong Kong stocks, leading to short-term market sentiment fluctuations

Market Heartbeat·
HK
09888
+3.27%
HK
01024
-4.28%
HK
09988
+1.94%
Market Heartbeat·
HK
09888
+3.27%
HK
01024
-4.28%
HK
09988
+1.94%
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