Kuaishou (01024.HK) Q1 2026 Earnings Conference Call
Live time: May 27, 2026 06:00
Kuaishou (01024.HK) Q1 2026 Earnings Conference Call
Live time: 05/27/2026 06:00:00
快手 (01024.HK) 2026 年第一季度业绩电话会
Summary
01:14
Opening Remarks by Matt Gao
Vice President of Capital Markets and Investor Relations Matt Gao opens Kuaishou's 2026 Q1 earnings call, welcoming participants and providing legal disclaimers regarding forward-looking statements and non-GAAP financial metrics.
03:29
CEO Cheng Yixiao Business Overview
CEO Cheng Yixiao reports that Kuaishou achieved an average daily active user base of 430 million and total revenue growth of 3.4% year-on-year, reaching RMB 33.7 billion in Q1 2026. Core commercial revenue grew 10.7%, and adjusted net profit reached RMB 3 billion with a 10% net profit margin.
07:31
CFO Jin Bing Financial Results
CFO Jin Bing reveals that Kuaishou's total revenue for Q1 2026 was RMB 33.7 billion, with RMB 6.5 billion contributed by Qwen AI, representing a 300% year-on-year increase. Adjusted net profit reached RMB 3.4 billion, and Kuaishou maintained strong cash reserves, totaling RMB 117.7 billion.
30:21
Q&A — Analyst: Canna Phone (UBS)
Management explains Qwen AI's revenue acceleration driven by B2B API calls and subscription from individual users. Applications include advertising, video production, short plays, and gaming production workflows, showcasing scalability in multiple professional scenarios.
39:48
Q&A — Analyst: Lincoln Kown (Goldman Sachs)
Management details progress on AI-powered agents for e-commerce, enabling user interest inference, creative material selection, and ad bidding optimization, enhancing operational efficiency across marketing and sales functions.
47:48
Q&A — Analyst: Thomas Zhang (Jefferies)
Management highlights the impact of integrating e-commerce and commercial traffic in Q1, boosting active buyer and merchant growth of 20% and 40% YoY. The Voyage Initiative contributed strongly with GMV rising 25%.
54:07
Q&A — Analyst: Miranda Zhang (Bank of America)
Management attributes explosive growth in AI-driven comic series to lowered production costs and shorter cycles enabled by AI. March alone saw 47,000 titles launched, surpassing the total for 2025.
1:02:37
Q&A — Analyst: Suqing Zhang (CICC)
Management reaffirms cautious financial policies, annual capital expenditure projection of RMB 260 billion, and shareholder returns exceeding HKD 5 billion for 2026, supported by stable positive cash flows.
1:07:31
Closing Remarks by Matthew Gao
Matthew Gao thanks participants for attending Kuaishou's Q1 2026 earnings call and encourages future engagement with the company’s investor relations team.
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