Citigroup: KUAISHOU-W (01024) Canling AI's revenue in the previous month exceeded expectations slightly, and it is expected to exceed 250 million US dollars this year.

Citigroup released a research report stating that despite facing some headwinds in its core e-commerce business, they still maintain a "buy" rating on KUAISHOU-W (01024) due to the outstanding performance of Kling AI, with a target price of 88 Hong Kong dollars. Kuaishou announced that Kling AI's monthly revenue in December 2025 exceeded 20 million US dollars, which means an annualized revenue run rate of 240 million US dollars. The strong performance in December is likely attributed to the launch of Kling Video 2.6 version, which introduced the "motion control" feature and has been well-received in the overseas market, quickly sparking a trend. Although the company had anticipated a good performance from Kling in December, the monthly revenue of over 20 million US dollars slightly surpassed their expectations, reflecting a quite robust revenue outlook for 2026, with the potential for annual revenue to exceed 250 million US dollars.