---
title: "Hong Kong Stock Exchange Announcement: Average daily active users reach a historical high, several core businesses maintain strong growth."
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/102933606.md"
description: "Q3 performance exceeded expectations across the board, with strong growth in key business segments such as online marketing, e-commerce, and live streaming. The company has achieved high-quality growth in user base and platform traffic."
datetime: "2023-11-21T23:35:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/102933606.md)
  - [en](https://longbridge.com/en/news/102933606.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/102933606.md)
---

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# Hong Kong Stock Exchange Announcement: Average daily active users reach a historical high, several core businesses maintain strong growth.

**Headline News:**

**Kuaishou-W (01024) Q3 Adjusted Net Profit of 3.173 Billion Yuan, YoY Turnaround from Loss to Profit**

Zhitong App - Kuaishou-W (01024) released its Q3 performance for the three months ending September 30, 2023, with revenue increasing by 20.8% YoY to 27.948 billion yuan. Gross profit was 14.453 billion yuan, a YoY growth of 35.0%; gross profit margin increased to 51.7% in the third quarter of 2023, compared to 46.3% in the same period of 2022. Adjusted net profit for the third quarter was 3.173 billion yuan, a YoY turnaround from loss to profit.

**Commentary:** Q3 performance exceeded expectations across the board, with strong growth in core business segments such as online marketing, e-commerce, and live streaming. The company achieved high-quality growth in user scale and platform traffic. Average daily active users in Q3 increased by 6.4% YoY, reaching a record high of 386.6 million. At the same time, average monthly active users increased by 9.4% YoY, reaching a record high of 684.7 million. In terms of e-commerce, GMV far exceeded industry growth, with a YoY growth rate of approximately 30%. The number of monthly active merchants increased by about 50% YoY. Revenue from live streaming business increased by 8.6% YoY to 9.7 billion yuan. In the third quarter of 2023, the number of contracted anchors in guilds increased by over 40% YoY, and the average daily live streaming time of anchors increased by nearly 30% YoY. Kuaishou's Double 11 full-cycle order volume increased by nearly 50%. These trends will also be reflected in the Q4 performance report. With this momentum, Q4 and full-year performance are also expected to be stable. There is still significant growth potential in e-commerce, and the recovery of the macro environment is also expected to bring advertising revenue. The rise of the emerging paid short drama model will also bring value-added space. AI empowerment is also a highlight, as the company completed the first phase of construction of its self-owned data center, Kuaishou Intelligent Cloud Data Center, in Ulanqab, Inner Mongolia in July 2023. As one of China's largest big data and artificial intelligence data centers, the company's self-owned mega-scale data center is designed to accommodate up to 300,000 servers, supporting the rapid growth of the company's business.

**Key Announcement:**

**Fosun Pharma (02196): FCN-437c Capsule Receives Drug Registration Application Acceptance, Accelerating International Market Layout**

Zhitong App - Fosun Pharma (02196) announced that its subsidiary, Aohong Pharmaceutical, has recently received acceptance of the drug registration application for FCN-437c Capsule (referred to as "the new drug"), which is used in combination with fulvestrant for the treatment of locally advanced or metastatic breast cancer with hormone receptor (HR)-positive and human epidermal growth factor receptor 2 (HER2)-negative disease progression after prior endocrine therapy. The company achieved operating revenue of 30.7 billion yuan in the first three quarters, with a net profit attributable to shareholders of the listed company of 2.283 billion yuan; and a net profit attributable to shareholders of the listed company excluding non-recurring gains and losses of 1.474 billion yuan. **Commentary:** This new drug is an innovative small molecule CDK4/6 inhibitor with independent intellectual property rights owned by the group. It was included in the national "Major New Drug Creation" science and technology major project in 2018. As of October 2023, the group has accumulated approximately RMB 514 million (unaudited) in research and development investment for this new drug. Recently, Aohong Pharmaceuticals has been approved as the holder of the marketing authorization for oral desmopressin solution, further enriching the group's product line. Since the first indication of the PD-1 product Hanshuang® (sulirumab injection) was launched in March 2022, its sales volume has been continuously increasing. In terms of internationalization, according to the latest information disclosed by Fosun Pharma, the company announced a collaboration with Intas Pharmaceuticals Limited, granting them exclusive rights to develop and commercialize Fosun Pharma's independently developed anti-PD-1 monoclonal antibody Hanzhuang® for multiple indications and specific formulations, including extensive-stage small cell lung cancer (ES-SCLC), in Europe and India. In addition to the previous grant of exclusive commercialization rights for Hanquyou® in Europe, parts of the Middle East and North Africa, and some CIS countries, Intas was further granted exclusive development and commercialization rights for Hanquyou® in the United States and Canada in 2021. As for the recent popular weight-loss drugs, as of August this year, there were 43 clinical trial projects for GLP-1 class weight-loss drugs in China, accounting for 40% of the global total. Fosun Pharma has entered the Phase III clinical trial stage and is making progress in research and development. The company's performance in the first three quarters was negatively affected, but it is expected to improve marginally after provision. Recently, Fosun Pharma received an increase in holdings from its major shareholder. Fosun High-Tech, the controlling shareholder of the company, increased its A-share holdings by approximately RMB 20.0822 million on the same day, totaling 720,000 shares, based on confidence in the company's future development prospects and recognition of its intrinsic value.

**\[Important Hong Kong Stock Exchange Announcements\]**

**![b560290b03337b03469e9cbcfbb648b.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20231122/1700609562807172.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)**

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