Q1 2026 Kuaishou Technology Earnings Call (Chinese, English) Transcript
Key Points
- Kuaishou Technology (KUASF) reported a 3.4% year-over-year increase in total revenue, reaching RMB33.7 billion.
- Revenue from core commercial business, including online marketing services and e-commerce, grew by 10.7% year-over-year.
- Kling AI, Kuaishou's AI video generation model, generated over RMB650 million in revenue, marking a year-over-year growth of more than 300%.
- The company achieved an adjusted net profit of RMB3.4 billion with an adjusted net margin of 10%.
- Kuaishou's e-commerce business showed sustainable growth, with a 33% year-over-year increase in the number of active merchants using marketing placements.
- Gross profit margin decreased to 51.2% from 54.6% in the same period last year.
- Cost of revenues increased by 11.1% year-over-year, driven by higher revenue sharing costs and increased bandwidth expenses.
- Selling and marketing expenses rose to RMB10.3 billion, slightly increasing as a percentage of total revenue.
- The macro consumption environment has not shown significant recovery, impacting operational efficiency for certain merchants.
- Despite strong growth in AI-driven initiatives, the overall e-commerce monetization rate growth may be slightly impacted in the near term.
Ladies and gentlemen, thank you for standing by welcome to Kuaishou Technology Q1 Financial Results Conference Call. Please note that English Samtani interpretations will be provided from management in prepared remarks, the English line will be in listen-only mode. And this meeting is being recorded. Now I'll turn the call over to Mr. Matthew Zhao, VP of Capital Markets and IR at Kuaishou.
Thank you, operator. Good evening, and good morning to everyone. Welcome to Quester Technology Q1 2026 Financial Results Conference Call. Joining us today are Mr. Yixiao Cheng, our Co-Founder, Chairman and CEO and Mr.
Bing Jin. Before I start, please note that today's discussion maintain forward-looking statements, which involve a number of risks and uncertainties. Actual results and outcomes may differ from those discussed. . The company does not undertake any obligations to update any forward-looking information except as required by law.
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