Summary by Moomoo AI
Kuaishou Technology announces its performance for the first half of 2024, showing continued growth in revenue and profit. The unaudited consolidated performance for the three months and six months ended June 30, 2024, reached approximately RMB 31 billion and approximately RMB 60.3 billion, an increase of 11.6% and 14.0% year-on-year, respectively. The gross margin increased to 55.3%, and the adjusted net profit reached approximately RMB 4.7 billion, with adjusted EBITDA of approximately RMB 6.3 billion. The company emphasizes the progress in AI technology and content ecosystem construction as the foundation for growth, and has made progress in areas such as visual generative modeling. In addition, Kuaishou's daily active users and monthly active users reached 0.395 billion and 690 million respectively, demonstrating stable growth of its user base. The company has not declared a mid-term dividend and will continue to invest in its ecosystem, research and development, and technological capabilities.
