(01024) increased by nearly 5% during the New Year Festival period, with a year-on-year increase of 71% in total GMV.

On January 14, the two major Hong Kong stock indexes rebounded, with the Hang Seng Index rising by 1.83% and the Hang Seng Tech Index rising by 3.08%. Component stock Kuaishou (01024) closed at 4.9%, with a total daily trading volume of 1.446 billion Hong Kong dollars. Kuaishou e-commerce announced the results of the Spring Festival New Year Shopping Festival on the same day. During the promotion period, the GMV of the overall shelf increased by 71% year-on-year, the GMV of search increased by 119% year-on-year, and the GMV of major brands and supplements increased by 371% year-on-year. It is worth mentioning that nearly 22,000 Kuaishou anchors achieved a GMV growth rate of over 100% in their live broadcast rooms. Citigroup analysts stated in a recent research report that the growth of Kuaishou's e-commerce and advertising is expected to outperform the industry, injecting steady momentum into the company's profit growth. The bank stated that Kuaishou e-commerce will continue to benefit from a wider coverage area and more "national subsidy" policies. Considering the currently undervalued stock price of Kuaishou, the bank maintains a "buy" rating on Kuaishou.