KUAISHOU-W (01024) rose more than 4%, and as of writing, was up 4.51% to HK$82.35, with a turnover of HK$2.905 billion.
According to exclusive research data, the monthly active users of Kuaishou's AI product, Kling, surpassed 12 million in January 2026.
As of January 20, 2026, the number of paying users on the Kling app increased by 350% month-on-month, while its average daily revenue in January was approximately 30% higher than the daily average in December.
For the full year 2025, Kling's revenue is projected to reach $140 million, significantly exceeding the initial $60 million revenue target set by Kuaishou at the beginning of 2025.
In comparison, Minimax, a recently listed large model company, reported revenue of $17.46 million for its similar product, Conch AI, from January to September 2025; the company's current total market capitalization exceeds HK$150 billion.
UBS believes that Kling is progressively expanding beyond professional user circles and gaining traction among a broader base of general users.
This trend is seen as beneficial for further enlarging the user base and enhancing the scalability of its commercialization efforts.
UBS has raised its 2026 revenue forecast for Kling to RMB 2.3 billion, representing a 128% year-on-year increase.
China Merchants Securities International also noted that if AI-driven commercialization continues to advance, Kuaishou's core business could be poised for a re-rating.
Currently, Kling's market valuation is generally assessed at a price-to-sales ratio of 20-30x, which appears attractive compared to its Hong Kong-listed peers and leading US AI companies, especially given Kling's substantial revenue base and rapid growth rate.
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