listed Kuaishou sinks to three-week low on lacklustre outlook
** Shares of China's Kuaishou Technology 1024.HK down 12.8% to HK$45.80, their lowest levels since Oct 31, as brokers grow more cautious about future profit growth
** Stock set for its biggest one-day decline since Oct 8, leading losses in the Hang Seng Tech Index, which slips 0.5%
** The Chinese content community and social media platform operator said its Q3 revenue increased 11.4% Y/Y, non-IFRS adjusted net profit jumped 24.4% Y/Y and adjusted EBITDA rose 12% Y/Y
** Nomura maintains a "neutral" rating on Kuaishou, noting the company's largely in-line Q3 results amid a slowing e-commerce business. While 4Q revenue outlook is in line, ad revenue slightly misses market expectations
** Citi maintains a "buy" rating on Kuaishou, noting in-line 3Q24 results with e-commerce and ad momentum on track for 4Q24E. While e-commerce growth may slow, non-ecommerce growth is expected to remain decent
** Jefferies keeps "buy" rating saying growth in 4Q is on track with consensus estimates
** Hang Seng Commerce & Industry Index .HSNC slips 0.2%, and Hang Seng Index .HSI eases 0.3%
** Stock down 10.9% YTD
Reporting by Donny Kwok
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
