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Kuaishou Technology (1024) investor relations material
Kuaishou Technology Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue rose 13.1% year-over-year to RMB35.0 billion, with adjusted net profit up 20.1% to RMB5.6 billion and a 16% margin, marking record profitability.
H1 2025 revenue reached RMB67.7 billion, up 12.0% year-over-year, with adjusted net profit of RMB10.2 billion and a 15.1% margin.
AI integration and ecosystem innovation drove operational and financial improvements, with Clean/Kling AI revenue surpassing RMB250 million in Q2.
User engagement reached new highs: average DAUs exceeded 400 million, with daily time spent per DAU at 126.8 minutes.
A special dividend of HK$0.46 per share (totaling HK$2.0 billion) was declared for the first time since listing, reflecting confidence in long-term growth.
Financial highlights
Q2 2025 revenue increased 13.1% year-over-year to RMB35.0 billion; H1 2025 revenue was RMB67.7 billion, up 12.0%.
Adjusted net profit for Q2 2025 was RMB5.6 billion (up 20.1%); adjusted EBITDA was RMB7.7 billion (up 21.6%).
Gross profit for Q2 2025 was RMB19.5 billion (55.7% margin), up 13.8% year-over-year.
Online marketing services Q2 2025 revenue was RMB19.8 billion (+12.8% YoY); e-commerce and Clean/Kling AI revenue reached RMB5.2 billion (+25.9% YoY).
Basic EPS for Q2 2025 was RMB1.15, up from RMB0.92 in Q2 2024.
Outlook and guidance
Continued strong investment in AI and technology commercialization is planned for H2 2025, with Clean/Kling AI full-year revenue projected to double initial targets.
AI-related CapEx for Clean/Kling AI to double from the original budget, but overall AI investment impact on full-year profitability expected to remain at 1–2%.
Focus remains on high-quality growth, operational efficiency, and unlocking new monetization opportunities.
Full-year adjusted net margin expected to remain stable year over year.
Quarterly and yearly GMV disclosure to be discontinued from 2026, shifting focus to broader performance indicators.
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