HK Stock Market Move | KUAISHOU-W(01024) opened nearly 10% higher. It is reported that it plans to spin off Keli AI for independent listing, with an estimated valuation of $20 billion.

KUAISHOU-W (01024) opened nearly 10% higher. As of the time of writing, it is up by 9.88% and is trading at 56.7 Hong Kong dollars, with a trading volume of 3.81 billion Hong Kong dollars. On the news front, on May 11th, there were reports that Kuaishou Technology plans to spin off its AI video business, Ling Ling, and is planning to achieve an IPO listing next year. It was reported that Kuaishou has been in talks with potential investors for pre-IPO financing for Ling Ling, with the valuation expected to reach 20 billion US dollars (about 130 billion Chinese yuan). Kuaishou officials have not commented on this. Morgan Stanley stated that if this deal goes through, it will release significant value for Kuaishou, as the market typically assigns higher valuation multiples to pure AI companies. Orient pointed out that since the release of Ling Ling 1.0 in June 2014, although there have been changes in the competitive landscape due to the release of new models, the Ling Ling series models have consistently remained in the top tier in terms of capabilities, with leading technology. In terms of prices, the API prices for generating a 1-minute video for Happyhorse-1.0, Byte Seedance 2.0, and Kuaishou Ling 3.0 are 14.4 US dollars, 22.4 US dollars, and 13.4 US dollars respectively, with Ling Ling showing more prominent performance on a comprehensive basis. In terms of feature updates, Ling Ling recently launched the 4K direct output function, with feedback from creators indicating stronger deliverability in areas such as advertising and film and television where delivery requirements are more stringent.