Quick Facts / Company Snapshot
- Full Company Name: Kuaishou Technology
- Stock Code: 1024 (HKD Counter), 81024 (RMB Counter)
- Listing Exchange: The Stock Exchange of Hong Kong (Main Board)
- Headquarters: Haidian District, Beijing, People’s Republic of China
- Founding Year: 2011
- Founders: Su Hua, Cheng Yixiao
- Fiscal Year End: December 31
- Total Revenue (2024): RMB 126,898 million
- Operating Profit (2024): RMB 15,287 million
- Net Profit (2024): RMB 15,344 million
- Adjusted Net Profit (2024): RMB 17,716 million
- Average DAUs (2024): 399.4 million
- Average MAUs (2024): 709.7 million
- Total E-commerce GMV (2024): RMB 1,389,582.3 million
- Average Online Marketing Revenue per DAU (2024): RMB 181.3
- Core Business Segments: Online Marketing Services, Live Streaming, Other Services (E-commerce)
- AI Model: Kling AI (Large Video Generation Model)
- Kling AI Revenue Milestone: Annualized revenue run rate of USD 240 million (December 2025)
- Key Overseas Market: Brazil
- Mission: To be the most customer-obsessed company in the world
Company Overview
Kuaishou Technology is a leading content community and social platform with a global footprint, primarily operating in China. The company defines its corporate mission as helping people discover their needs and use their talents to find their unique brand of happiness. Committed to being the most “customer-obsessed” company globally, Kuaishou leverages a robust technological backbone powered by cutting-edge artificial intelligence (AI) to drive product innovation and service enhancement.
The platform functions as a digital community where users chronicle and share their life experiences through short videos and live streams. It serves as a stage for users to showcase their talents and interact with a vast ecosystem of content creators and businesses. Kuaishou’s ecosystem is designed to address diverse user needs that arise naturally within the community, covering a broad spectrum of sectors including entertainment, online marketing services, e-commerce, local services, online games, and knowledge sharing.
The company operates under a unique community philosophy that emphasizes inclusivity and attention to the “long tail” of user content, ensuring that ordinary people are seen and heard. This user-centric approach has fostered a highly engaged community with strong social bonds, distinguishing Kuaishou in the competitive landscape of short-video platforms.
Business Segments
Kuaishou Technology organizes its operations into distinct business segments based on the nature of services provided and geographical markets. The company’s primary revenue streams are derived from Online Marketing Services, Live Streaming, and Other Services (predominantly E-commerce).
Domestic Segment
The Domestic segment represents the core of Kuaishou’s business, encompassing all operations within the People’s Republic of China. This segment is the primary driver of the company’s revenue, profitability, and user base.
- Operational Scope: Includes the Kuaishou App, Kuaishou Express, and associated domestic products. It covers all domestic monetization activities including advertising, live streaming virtual gifting, and e-commerce transactions.
- Revenue (2024): RMB 122,202 million
- Contribution to Total Revenue: 96.3%
- Operating Profit (2024): RMB 16,355 million
Overseas Segment
The Overseas segment comprises Kuaishou’s international operations, focusing on markets outside of mainland China, with a significant presence in Latin America, particularly Brazil.
- Operational Scope: Includes the operation of the Kwai app and SnackVideo in international markets. This segment focuses on localized content ecosystems and monetization through advertising and live streaming.
- Revenue (2024): RMB 4,696 million
- Contribution to Total Revenue: 3.7%
- Operating Loss (2024): RMB (934) million (Significant narrowing of loss year-over-year)
History and Evolution
Kuaishou’s journey began in 2011 with the founding of “GIF Kuaishou” by Su Hua and Cheng Yixiao. Originally, the product was a mobile application designed for creating and sharing animated GIF pictures. This initial tool laid the foundation for the company’s focus on visual expression and content creation.
In 2013, the company made a strategic pivot, transforming from a utility tool into a short-video social platform. This transition marked the beginning of Kuaishou’s rapid growth as a content community. By enabling users to record and share short videos, the platform tapped into the rising demand for mobile video consumption.
In 2016, Kuaishou introduced live streaming capabilities to its platform. This addition naturally evolved from the existing community dynamics, allowing for real-time interaction between creators and viewers, and establishing a new, significant revenue stream through virtual gifting.
On February 5, 2021, Kuaishou Technology was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX), trading under the stock code 1024. This milestone provided the capital and global visibility to further expand its ecosystem.
In 2024, the company aggressively integrated Artificial Intelligence into its core strategy, unveiling the Kling AI video generation model and the Kling AI App. This move signified Kuaishou’s evolution from a content platform to a technology-driven entity with proprietary generative AI capabilities. By the fourth quarter of 2024, the company launched the Kling 1.6 model and the standalone Kling AI App, marking a new era in its technological history.
Products and Services
Kuaishou offers a suite of applications and digital services designed to cater to creators, users, and merchants.
Kuaishou App (Domestic)
The flagship application serves as the primary interface for the company’s massive user base in China. It functions as a comprehensive social ecosystem offering:
- Short Videos: An algorithmic feed of user-generated content tailored to individual interests.
- Live Streaming: Real-time broadcasting allowing interaction, virtual gifting, and e-commerce.
- E-commerce: Integrated shopping experiences (Kuaishou Shop) where users can purchase goods directly through videos or live streams.
- Local Services: Discovery and purchasing of local lifestyle services such as dining and entertainment.
Kling AI (Generative AI)
Kling AI represents Kuaishou’s flagship product in the artificial intelligence sector. It is a large video generation model capable of creating high-quality video content from text or image prompts.
- ** Capabilities:** The Kling 1.6 model features enhanced responsiveness to text descriptions, including motion and camera movements, with improved visual quality (1080p resolution).
- Commercialization: Widely adopted in marketing, film, television, and animation.
- Revenue Milestone: Achieved an annualized revenue run rate of USD 240 million in December 2025.
- New Features: The “Video 2.6” model introduced “Simultaneous Audio-Visual Generation,” redefining AI video creation workflows.
Kwai (Overseas)
Kwai is the international variant of the Kuaishou App, specifically tailored for overseas markets. It is particularly strong in Brazil, where it serves as a major social media platform. Kwai replicates the core short-video and live-streaming functionalities of the domestic app, optimized for local cultural preferences and user behaviors.
Online Marketing Solutions
Kuaishou provides sophisticated advertising services for businesses, leveraging AI to optimize ad placement and content generation.
- AIGC Marketing: Automated generation of marketing materials using AI, significantly boosting production efficiency for clients.
- Performance Advertising: Targeted ads driving specific user actions (downloads, purchases).
- Brand Advertising: High-visibility placements for brand awareness.
Brand Portfolio
Kuaishou manages a portfolio of brands that target different demographics and geographic regions.
Kuaishou (快手)
The primary brand, synonymous with “Quick Hand” in Chinese, represents the core short-video community in China. It is positioned as an inclusive platform for “regular people” to document their lives. This brand anchors the company’s massive domestic revenue of RMB 122,202 million.
Kwai
The international brand used for global expansion. Kwai has established a distinct identity in markets like Brazil and Indonesia, often associated with viral trends, social commerce, and localized entertainment. It contributes the majority of the RMB 4,696 million overseas revenue.
Kling AI (可靈)
The emerging technology brand representing Kuaishou’s AI capabilities. Kling is positioned as a professional-grade creative tool for content generation, targeting both individual creators and enterprise clients in the creative industries.
Geographical Presence
Kuaishou’s operations are divided into two primary geographical zones: China (Domestic) and International (Overseas).
China (Domestic)
China remains the company’s stronghold, housing its headquarters in Haidian District, Beijing. The domestic market accounts for 96.3% of total revenue.
- Key Metrics (2024):
- Average DAUs: 399.4 million
- Average MAUs: 709.7 million
- E-commerce GMV: RMB 1,389,582.3 million
- Operational Footprint: Massive data centers (including the self-built Kuaishou Intelligent Cloud Ulanqab Data Center), R&D hubs, and operational offices across major Chinese cities.
International (Overseas)
The overseas footprint is strategically focused on high-growth emerging markets.
- Key Markets: Brazil, Indonesia.
- Revenue: RMB 4,696 million (3.7% of total).
- Operational Focus: Localized content operations, creator partnerships, and advertising monetization. The company has successfully narrowed operating losses in this region through efficiency improvements.
Financial Performance Analysis
Kuaishou Technology demonstrated robust financial performance in the fiscal year 2024, characterized by double-digit revenue growth and a significant surge in profitability. The company successfully executed its strategy of high-quality growth, balancing ecosystem expansion with operational efficiency.
Multi-Year Trend
The company has transitioned from a phase of rapid, loss-making expansion to a period of sustained profitability. The shift is evidenced by the dramatic increase in Operating Profit from 2023 to 2024 and the achievement of substantial Adjusted Net Profit.
Profit and Loss Analysis (2024)
| Metric | Amount (RMB Million) | YoY Change / Margin |
| Total Revenue | 126,898 | +11.8% |
| Domestic Revenue | 122,202 | – |
| Overseas Revenue | 4,696 | – |
| Gross Profit | 69,292 | +20.7% |
| Operating Profit | 15,287 | +137.7% |
| Profit Before Tax | 15,494 | – |
| Income Tax Expenses | (150) | – |
| Profit for the Year | 15,344 | +139.8% |
| Adjusted Net Profit | 17,716 | +72.5% |
| Adjusted Net Margin | 14.0% | – |
Analysis:
- Revenue Growth: Total revenue grew by 11.8%, driven by strong performance in online marketing and e-commerce.
- Profitability Surge: Operating profit more than doubled (+137.7%) compared to 2023, indicating powerful operating leverage and cost discipline.
- Adjusted Net Profit: Reached RMB 17.7 billion, reflecting the company’s strong underlying earning power excluding share-based compensation and other non-cash items.
Segment-Wise Performance (2024)
| Segment | Revenue (RMB Million) | Operating Profit (RMB Million) |
| Domestic | 122,202 | 16,355 |
| Overseas | 4,696 | (934) |
| Unallocated | N/A | (134) |
Analysis:
- Domestic: The domestic segment is highly profitable, generating RMB 16.4 billion in operating profit.
- Overseas: While still loss-making, the operating loss narrowed significantly to RMB 934 million, reflecting improved monetization and cost control in international markets.
Balance Sheet Analysis
Kuaishou maintains a solid financial position with substantial liquidity reserves, supporting its continuous investment in AI and ecosystem development.
- Cash Position: As of September 30, 2025, total cash and cash equivalents were reported at RMB 106.6 billion.
- Debt: The company has tapped into global debt markets to optimize its capital structure. In January 2026, Kuaishou announced the issuance of US dollar and Yuan bonds to raise capital for refinancing and general corporate purposes.
- Share Buybacks: The company has an active share repurchase program. In the first half of 2025 alone, approximately 38.8 million shares were repurchased, signaling management confidence in the company’s value.
Board of Directors and Leadership Team
The governance of Kuaishou Technology is led by its co-founders and a mix of executive and independent non-executive directors.
- Mr. Cheng Yixiao: Chairman of the Board and Chief Executive Officer. Co-founder of Kuaishou. He is responsible for the overall strategic planning and business direction of the company.
- Mr. Su Hua: Executive Director and Co-founder. He plays a key role in the company’s long-term strategy and product vision.
- Mr. Li Zhaohui: Non-executive Director.
- Mr. Zhang Fei: Non-executive Director.
- Mr. Wang Huiwen: Non-executive Director.
- Mr. Huang Sidney Xuande: Independent Non-executive Director. Chairman of the Audit Committee and Remuneration Committee.
- Mr. Ma Yin: Independent Non-executive Director. Chairman of the Nomination Committee and Corporate Governance Committee.
- Prof. Xiao Xing: Independent Non-executive Director.
Committees:
The Board operates through four primary committees:
- Audit Committee: Chaired by Mr. Huang Sidney Xuande.
- Remuneration Committee: Chaired by Mr. Huang Sidney Xuande.
- Nomination Committee: Chaired by Mr. Ma Yin.
- Corporate Governance Committee: Chaired by Mr. Ma Yin.
Subsidiaries and Key Operating Entities
Kuaishou operates through a structure involving Variable Interest Entities (VIEs) to comply with PRC regulations. Key operating entities include:
- Beijing Kuaishou Technology Co., Ltd.: A major consolidated affiliated entity responsible for the operation of the domestic platform.
- Beijing Dajia Internet Information Technology Co., Ltd. (WFOE): The wholly-foreign owned enterprise that exercises contractual control over the VIEs.
These entities are central to the company’s revenue generation and hold the necessary licenses for internet content provision in China.
Investments and Capital Expenditure Plans
Kuaishou is in an intensive investment phase focused on Artificial Intelligence infrastructure.
- Capex Allocation: The company guided for a mid to high double-digit year-over-year increase in full-year 2025 Capital Expenditure (CapEx).
- Strategic Priority: The primary driver for this increased spending is investment in AI technology, specifically for training and deploying large models like Kling AI. This includes procuring high-performance computing resources and building data center capacity.
- R&D Spending: In Q3 2025 alone, R&D expenses were RMB 3.7 billion, underscoring the company’s commitment to maintaining its technological edge.
Future Strategy
Kuaishou’s management has articulated a clear strategy focused on AI integration and high-quality growth.
- AI-First Strategy: The company aims to embed large AI model capabilities across the majority of scenarios on its platform. This includes:
- Content Creation: Empowering creators with tools like Kling AI to lower barriers to high-quality video production.
- Marketing Efficiency: Using AIGC (AI-Generated Content) to produce marketing materials automatically, boosting efficiency for advertisers.
- Recommendation: Deploying end-to-end generative recommendation models (like OneRec) to improve user time spent and retention.
- E-commerce Expansion: Moving beyond content-driven e-commerce to “Pan-shelf-based” e-commerce. This involves creating a comprehensive shopping ecosystem where users actively search for and browse products, increasing purchase frequency and GMV.
- Operational Efficiency: Continuing to optimize costs and improve margins, particularly in the Overseas segment, to ensure sustainable long-term profitability.
Key Strengths
- Massive and Engaged User Base: With 399.4 million DAUs and 709.7 million MAUs in 2024, Kuaishou commands a significant portion of China’s internet traffic.
- Strong Community Bonds: The platform’s emphasis on authentic content and community interaction leads to high user stickiness and engagement (120+ minutes daily time spent per DAU).
- Integrated Monetization Ecosystem: The synergy between short videos, live streaming, and e-commerce allows for efficient traffic conversion.
- AI Leadership: Proprietary models like Kling AI position Kuaishou as a leader in the generative video space, creating new revenue streams and competitive moats.
- Financial Resilience: A strong balance sheet with over RMB 100 billion in cash reserves provides flexibility for strategic investments and shareholder returns.
Key Challenges and Risks
- Regulatory Environment: As a major internet platform in China, Kuaishou operates under strict regulations regarding content, data security, and algorithm usage. Compliance with evolving rules is a constant operational imperative.
- Competitive Landscape: The short-video and live-streaming market is intensely competitive, with major rivals vying for user attention and advertising budgets.
- AI Investment Costs: The strategic pivot to AI requires substantial capital expenditure and R&D spending, which could pressure short-term margins if monetization does not scale as projected.
- Cybersecurity: The company faces risks related to data breaches and cyberattacks. In December 2025, the company responded to a “Live-Streaming Cyber Incident” where explicit content flooded streams due to a breach blamed on black/grey industries, highlighting the constant threat of malicious actors.
Conclusion and Strategic Outlook
Kuaishou Technology has firmly established itself as a dominant force in the global digital content landscape. By successfully transitioning from a pure social platform to a technology-driven ecosystem integrating entertainment, commerce, and AI services, the company has unlocked diversified growth engines. The fiscal year 2024 marked a turning point with record profitability and the launch of world-class AI capabilities.
Looking ahead, Kuaishou’s future will be defined by its ability to capitalize on the AI revolution. The rapid commercialization of Kling AI and the deepening integration of generative models into its core business suggest a trajectory of innovation-led growth. While competitive and regulatory challenges persist, Kuaishou’s “customer-obsessed” mission, combined with its disciplined financial management and technological prowess, positions it well to deliver long-term value to shareholders and users alike.
Official Site: https://ir.kuaishou.com
FAQ Section
1. What is Kuaishou Technology’s total revenue for 2024?
Kuaishou Technology reported a total revenue of RMB 126,898 million for the year ended December 31, 2024, representing an 11.8% year-over-year increase.
2. Who are the founders of Kuaishou Technology?
The company was founded in 2011 by Mr. Su Hua and Mr. Cheng Yixiao.
3. What is Kling AI?
Kling AI is Kuaishou’s proprietary large video generation model. It allows users to generate high-quality videos from text or images and has been widely adopted in marketing and creative industries.
4. How many daily active users (DAUs) does Kuaishou have?
In 2024, the Kuaishou App had an average of 399.4 million Daily Active Users (DAUs).
5. What is Kuaishou’s main source of revenue?
The company’s largest revenue source is Online Marketing Services, which contributed over 57% of total revenue in 2024.
6. Is Kuaishou profitable?
Yes, Kuaishou reported an Operating Profit of RMB 15,287 million and an Adjusted Net Profit of RMB 17,716 million for the full year 2024.
7. Where is Kuaishou listed?
Kuaishou Technology is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code 1024.
Source: Content on FirmsWorld.com is based on publicly available corporate filings, regulatory disclosures, annual reports, SEC 10-K filings, investor relations materials, and, where applicable, direct communications with the company.
