Kuaishou-W rises over 8% on AI breakthroughs and Keling financing

Kuaishou-W (1024.HK) surged more than 8% in Hong Kong trading to HKD 43.76.

The rally was driven by significant breakthroughs in domestic large AI models and commercialization progress, which boosted the broader tech sector. Kuaishou's subsidiary, Keling AI, completed external financing with a post-money valuation of USD 18 billion, potentially lifting the group's valuation ceiling and easing capital expenditure pressure.

On the analyst front, Bank of America maintained a "Buy" rating with a target price of HKD 63, citing potential benefits from the Keling AI restructuring and financing. Everbright Securities also reiterated a "Buy" rating with a target of HKD 68.25. Although Tencent reduced its stake to 9.37%, both companies confirmed continued strategic cooperation, alleviating market concerns and refocusing attention on the revaluation logic for undervalued internet leaders.