CICC: Maintains a "Outperform" rating for Kuaishou-W with a target price of HK$89.00

CICC released a research report stating that due to the good cost control of Kuaishou-W, the Non-IFRS net profit for 25 years was raised by 3% to 20.6 billion yuan, with the current price corresponding to 12.5/11.5 times the 25/26 year Non-IFRS P/E ratio. Taking into account the company's AI business layout, they maintain an outperform industry rating and a target price of HK$89, with an upside potential of 40%. The company's revenue in the third quarter of 25 was 35.6 billion yuan, a year-on-year increase of 14%, Non-IFRS net profit attributable to the parent company was 4.99 billion yuan, GMV increased by 15% to 385 billion yuan, overall meeting the bank's expectations.