CICC: Maintains Kuaishou-W outperform industry rating, target price of HK$72.8

CICC released a research report stating that the current price of Kuaishou-W (01024) corresponds to a 12/10 times 26/27 Non-IFRS P/E ratio. The company is maintaining its outperform industry rating, with a target price of 72.8 Hong Kong dollars representing a 37% upside potential. The company's revenue in the fourth quarter of 2025 increased by 12% to 39.6 billion yuan, with Non-IFRS net profit of 5.46 billion yuan. E-commerce GMV also increased by 13% to 521.8 billion yuan, in line with the bank's and market expectations.