July 8 news,$KUAISHOU-W (01024.HK)$Up more than 4%, closing at HK$42.1, with a trading volume of HK$1.449 billion.
On the news front, on July 2, Kuaishou announced that it would spin off its Keling AI-related assets and business into Beijing Keling and introduce external investors along with external financing, resulting in a post-investment valuation of approximately USD 18 billion. On July 7, Kuaishou stated in a filing that Tencent expressed confidence in the Group’s long-term growth prospects and affirmed that both parties would continue to maintain a mutually beneficial relationship, including the continuation of their strategic cooperation. The Company expects that the proposed sale will not have any material adverse impact on the Group’s operations.
CICC noted that the independent valuation of the Company’s AI assets lifts the valuation ceiling for the Group; alleviates the Group’s capital expenditure pressure and optimizes resource allocation; and, by introducing diverse strategic investors, enhances industrial synergy, helping Keling strengthen its ecosystem collaboration across dimensions such as technology, computing power, and entertainment content. Additionally, Beijing Keling has simultaneously implemented an employee equity incentive plan, which is expected to further align the interests of the core team with the Company’s long-term goals.