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| 17:00 |
Baidu Announces Third Quarter 2024 Results
BEIJING, Nov. 21, 2024 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced its unaudited financial results for the third quarter ended September 30, 2024. "Baidu Core's flattish third quarter top line reflected the ongoing weakness in our online marketing business, offset by the growth of our AI Cloud business. Our strong AI capabilities are gaining broader market recognition, as evidenced by increasing adoption of ERNIE. In intelligent driving, Apollo Go continues to lead the global autonomous ride-hailing market, hitting another milestone with our sixth-generation autonomous vehicle now operating on public roads across multiple cities in China," said Robin Li, Co-founder and CEO of Baidu. "Despite the near-term pressures, we remain steadfast in our AI-focused strategy and are confident in our long-term trajectory. As we further scale AI, we are emboldened to find how it can drive innovations and create value for consumers, enterprises and society at large." "Our relentless focus on cost control helped support our third quarter results. Baidu Core's operating margins remained stable as we managed to further optimize costs and realize more cost efficiencies between business units," said Junjie He, Interim CFO of Baidu. "AI Cloud continued to show healthy and sustainable development in the third quarter. Meanwhile, Apollo Go continued to make operational strides, underpinning our confidence in the validity of the fully autonomous ride hailing business model."
Operational Highlights Corporate
AI Cloud
Intelligent Driving
Mobile Ecosystem
Third Quarter 2024 Financial Results Total revenues were RMB33.6 billion ($4.78 billion), decreasing 3% year over year.
Cost of revenues was RMB16.4 billion ($2.34 billion), increasing 1% year over year, primarily due to an increase in traffic acquisition costs and costs related to AI Cloud business, partially offset by a decrease in personnel-related expenses and cost of goods sold. Selling, general and administrative expenses were RMB5.9 billion ($836 million), increasing 2% year over year, primarily due to an increase in channel spending and promotional marketing expenses, partially offset by a decrease in personnel-related expenses. Research and development expenses were RMB5.4 billion ($765 million), decreasing 12% year over year, primarily due to a decrease in personnel-related expenses. Operating income was RMB5.9 billion ($844 million). Baidu Core operating income was RMB5.7 billion ($811 million), and Baidu Core operating margin was 21%. Non-GAAP operating income was RMB7.0 billion ($999 million). Non-GAAP Baidu Core operating income was RMB6.7 billion ($948 million), and non-GAAP Baidu Core operating margin was 25%. Total other income, net was RMB2.7 billion ($381 million), increasing 40% year over year, primarily due to an increase in fair value gain from long-term investments and disposal gain, partially offset by an increase in net foreign exchange loss arising from exchange rate fluctuation between Renminbi and U.S. dollar. Income tax expense was RMB814 million ($116 million), compared to RMB1.3 billion in the same period last year. Net income attributable to Baidu was RMB7.6 billion ($1.09 billion), and diluted earnings per ADS was RMB21.60 ($3.08). Net income attributable to Baidu Core was RMB7.5 billion ($1.07 billion), and net margin for Baidu Core was 28%. Non-GAAP net income attributable to Baidu was RMB5.9 billion ($839 million). Non-GAAP diluted earnings per ADS was RMB16.60 ($2.37). Non-GAAP net income attributable to Baidu Core was RMB5.7 billion ($809 million), and non-GAAP net margin for Baidu Core was 21%. Adjusted EBITDA was RMB8.7 billion ($1.24 billion) and adjusted EBITDA margin was 26%. Adjusted EBITDA for Baidu Core was RMB8.3 billion ($1.19 billion) and adjusted EBITDA margin for Baidu Core was 31%. As of September 30, 2024, cash, cash equivalents, restricted cash and short-term investments were RMB144.5 billion ($20.59 billion), and cash, cash equivalents, restricted cash and short-term investments excluding iQIYI were RMB140.3 billion ($19.99 billion). Free cash flow was RMB2.6 billion ($376 million), and free cash flow excluding iQIYI was RMB2.4 billion ($342 million). Conference Call Information Baidu's management will hold an earnings conference call at 7.30 AM on November 21, 2024, U.S. Eastern Time (8.30 PM on November 21, 2024, Beijing Time). Please register in advance of the conference call using the link provided below. It will automatically direct you to the registration page of "Baidu Inc. Q3 2024 Earnings Conference Call". Please follow the steps to enter your registration details, then click "Register". Upon registering, you will then be provided with the dial-in number, the passcode, and your unique access PIN. This information will also be emailed to you as a calendar invite. For pre-registration, please click: In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), the passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration. Additionally, a live and archived webcast of this conference call will be available at https://ir.baidu.com. About Baidu Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on NASDAQ under "BIDU" and HKEX under "9888". One Baidu ADS represents eight Class A ordinary shares. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, Baidu's and other parties' strategic and operational plans, contain forward-looking statements. Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Baidu's growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search and newsfeed market; competition for online marketing customers; changes in the Company's revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company's annual report on Form 20-F and other documents filed with the Securities and Exchange Commission, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law. Non-GAAP Financial Measures To supplement Baidu's consolidated financial results presented in accordance with GAAP, Baidu uses the following non-GAAP financial measures: non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to Baidu, non-GAAP net margin, non-GAAP diluted earnings per ADS, adjusted EBITDA, adjusted EBITDA margin and free cash flow. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Baidu believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding certain items that may not be indicative of its recurring core business operating results, such as operating performance excluding non-cash charges or non-operating in nature. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to Baidu's historical performance and liquidity. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a significant component in the Company's results of operations. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. Non-GAAP operating income represents operating income excluding share-based compensation expenses, and amortization and impairment of intangible assets resulting from business combinations. Non-GAAP net income attributable to Baidu represents net income attributable to Baidu excluding share-based compensation expenses, amortization and impairment of intangible assets resulting from business combinations, disposal gain (loss), impairment of long-term investments, and fair value gain (loss) of long-term investments, adjusted for related income tax effects. Baidu's share of equity method investments for these non-GAAP reconciling items, amortization and impairment of intangible assets not on the investees' books, accretion of their redeemable non-controlling interests, and the gain or loss associated with the issuance of shares by the investees at a price higher or lower than the carrying value per share, adjusted for related income tax effects, are also excluded. Non-GAAP diluted earnings per ADS represents diluted earnings per ADS calculated by dividing non-GAAP net income attributable to Baidu, by the weighted average number of ordinary shares expressed in ADS. Adjusted EBITDA represents operating income excluding depreciation, amortization and impairment of intangible assets resulting from business combinations, and share-based compensation expenses. For more information on non-GAAP financial measures, please see the tables captioned "Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measure."
Information Provided by PR Newswire [Disclaimer]
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| 12:07 |
Kerry Logistics Network Appoints Wong Siew Loong as Chief Commercial Officer for the Group & Managing Director for South East Asia
HONG KONG, Nov. 21, 2024 /PRNewswire/ -- Kerry Logistics Network Limited ('KLN'; Stock Code 0636.HK) is pleased to announce the appointment of Wong Siew Loong as its Chief Commercial Officer for the Group and Managing Director for South East Asia. The appointment is a key step in accelerating KLN's growth strategy and advancing its development plan across the globe. With more than 25 years of experience in the global transportation and logistics sector, Siew Loong joins KLN from Kuehne+Nagel where he last served as President of the Asia Pacific region and brings extensive international experience and proven track record. Based in Singapore, Siew Loong will lead KLN's global commercial growth strategies and operational advancement efforts to unlock new opportunities and drive greater growth. Vic Cheung, Executive Director and CEO of KLN, said, "We are delighted to welcome Siew Loong to our leadership team. His vision for commercial excellence, along with his strong understanding of market dynamics and customer needs, will be invaluable as KLN continues to innovate and deliver exceptional value to our customers across regions and markets." Commenting on his new appointment, Wong Siew Loong said, "I am excited to be joining KLN and bringing my commercial experience and insights to contribute value to its strategic development and long-term growth. I look forward to working collaboratively with the talented team across the network to drive success." About Kerry Logistics Network Limited (Stock Code 0636.HK) With a global presence across 60 countries and territories, KLN has established a solid foothold in half of the world's emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations. KLN generated a revenue of over HK$47.4 billion in 2023. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index. Information Provided by PR Newswire [Disclaimer]
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| 12:07 |
嘉里物流聯網委任黃兆龍為集團首席商務主管及東南亞總裁
香港2024年11月21日 /美通社/ -- 嘉里物流聯網有限公司（「KLN」；股份代號0636.HK）欣然宣佈委任黃兆龍為集團首席商務主管及東南亞總裁，為加快落實KLN的增長策略及推進其環球發展計劃邁出重要一步。 黃兆龍於環球運輸及物流領域擁有超過 25 年的經驗，履新前擔任德迅亞太區總裁，擁有豐富的國際經驗和優秀往績。黃兆龍駐職新加坡，將負責領導KLN環球的商務增長策略和營運效率提升，以發掘新機遇及促進增長。 KLN執行董事及行政總裁張炳銓表示：「歡迎黃兆龍加盟我們的領導團隊。他對商務卓越的願景，以及對市場動態和客戶需求的透徹了解，將發揮重要作用，引領KLN持續創新，為不同區域及市場的客戶締造更大價值。」 黃兆龍表示：「我很高興能加入KLN，我會致力在新職務上運用我的商務經驗和見解，為KLN的策略發展和長遠增長作出貢獻。我期待與公司的優秀團隊相互合作，共創佳績。」 關於嘉里物流聯網有限公司（股份代號0636.HK） KLN的辦事處遍佈全球60個國家及地區，於全球一半新興市場設立據點，其多元基建設施、廣泛國際樞紐覆蓋和本地專業知識遍及中國內地、印度、東南亞、獨聯體、中東、拉美及其他地區。 KLN於2023 年全年收入超過 474 億港元，於香港聯合交易所上市，並是恒生可持續發展企業基準指數成份股。 Information Provided by PR Newswire [Disclaimer]
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| 09:34 |
At open, the HSI was 58 pts or 0.3% lower at 19,646; the HSCEI was 30 pts or 0.4% lower at 7,060; and the HSTECH was 20 pts or 0.5% lower at 4,393. Information Provided by AAStocks Financial News [Disclaimer]
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| 05:28 |
Nvidia (NVDA.US), the leader in AI chips, announced after the market closed on Wednesday that its net profit for the 3FQ ended October 27 was US$19.309 billion, a jump of nearly 1.1 times YoY, on the ride of strong demand for AI, with adjusted EPS of US81 cents, which is ahead of the market estimate of US75 cents. Information Provided by AAStocks Financial News [Disclaimer]
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| 05:01 |
US stocks showed little movement on Wednesday as the market awaited Nvidia (NVDA.US)'s latest quarterly results and investors stayed put. The S&P 500 closed up 0.1 point at 5,917, remaining nearly unchanged from Tuesday. The DJIA opened higher, eventually closing up 139 points or 0.3% at 43,408. The Nasdaq slipped 21 points or 0.1% to close at 18,966. Information Provided by AAStocks Financial News [Disclaimer]
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| 16:43 |
Kuaishou Technology Announces Third Quarter 2024 Unaudited Financial Results
HONG KONG, Nov. 20, 2024 /PRNewswire/ -- Kuaishou Technology ("Kuaishou" or the "Company"; HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024), a leading content community and social platform, today announced its unaudited consolidated results for the three months and nine months ended September 30, 2024. Third Quarter 2024 Key Highlights
Mr. Cheng Yixiao, Co-founder, Chairman, and Chief Executive Officer of Kuaishou, said, "In the third quarter of 2024, our commitment to developing breakthrough technology that creates more value for our users propelled our user base to record-breaking heights. The Kuaishou App achieved average DAUs of 407.5 million and MAUs of 714.1 million. Our globally leading large video generation model, Kling AI, is setting new industry standards, redefining how content is created, personalized and experienced. Increased engagement across our ecosystem has fueled steady commercial growth, with total revenue rising 11.4% year-over-year in the third quarter to RMB31.1 billion. Notably, revenue from our core businesses, including online marketing services and e-commerce, grew nearly 20.0% year-over-year. Our adjusted net profit rose 24.4% year-over-year to RMB3.9 billion, showing our ability to increase profitability. Looking ahead, our AI strategy aims to strengthen our current business lines and lay the foundation for sustainable growth across our dynamic user, content and commercial ecosystems." Third Quarter 2024 Financial Review Revenue from our online marketing services increased by 20.0% to RMB17.6 billion for the third quarter of 2024, from RMB14.7 billion for the same period of 2023, primarily attributable to the increased consumption from marketing clients driven by continuous optimization of smart placement capabilities and algorithms. Revenue from our live streaming business decreased by 3.9% to RMB9.3 billion for the third quarter of 2024 from RMB9.7 billion for the same period of 2023, as a result of our continuous efforts in building a healthy and sustainable live streaming ecosystem. Revenue from our other services increased by 17.5% to RMB4.2 billion for the third quarter of 2024, from RMB3.5 billion for the same period of 2023, primarily due to the growth of our e-commerce business, represented by the growth in our e-commerce GMV. The growth in e-commerce GMV was driven by increases in the number of e-commerce monthly active paying users and monthly active merchants as a result of our continuous refined omni-domain operations. Other Key Financial Information for the Third Quarter of 2024 Operating profit was RMB3.1 billion, increasing from RMB2.2 billion for the same period of 2023. Adjusted EBITDA(4) was RMB5.6 billion, increasing from RMB5.0 billion for the same period of 2023. Total available funds(5) reached RMB86.7 billion as of September 30, 2024. Notes: (1) Placed on or directed to our partners through our platform. Business Review We grew our user base and increased our revenues and profits in the third quarter of 2024 despite a challenging macro environment. We achieved a new milestone of over 400 million quarterly average DAUs and recorded strong financial performance, driven by our unwavering dedication to our technology-driven, user-centric business philosophy. Our total revenue grew by 11.4% year-over-year to RMB31.1 billion, and revenue from our core commercial business, including online marketing services and other services, primarily e-commerce, increased by nearly 20.0% year-over-year in the third quarter of 2024. Our adjusted net profit rose by 24.4% year-over-year to RMB3.9 billion, evidencing our sustained profitability improvements. We continued to advance the integration and application of large models for content creation, understanding and recommendation, empowering our content and commercial ecosystem. In the third quarter of 2024, average daily spending with AIGC marketing materials from marketing clients surpassed RMB20 million. In September 2024, we unveiled the latest version of our video generation model, Kling AI (可靈AI) 1.5, which sets new industry benchmarks for video quality with higher-quality resolution of 1080p, dynamic performance, semantic responsiveness and feature enhancements such as motion brush. User and content ecosystem In the third quarter of 2024, the average DAUs and MAUs on the Kuaishou App reached 408 million and 714 million, respectively, representing year-over-year increases of 5.4% and 4.3%, respectively, which further solidified our leading position as the third largest app in China in terms of quarterly average DAU. The average daily time spent per DAU on the Kuaishou App was 132.2 minutes. Total user time spent on the Kuaishou App increased by 7.3% year-over-year, with average daily live streaming and short video views reaching nearly 110 billion. In line with our strategy to promote high-quality user growth, we enhanced our capabilities in leveraging marketing channels for user acquisition and optimized product features, while integrating user acquisition initiatives with commercial scenarios such as e-commerce. These efforts enabled us to expand our user base and enabled more users to access our products more frequently. We also progressed our user retention initiatives by enriching the interactive community experience. For example, to drive user engagement and increase user stickiness, we refined private messaging features across various scenarios, introduced more innovative features and enhanced the comment ranking system. In terms of algorithm, we developed new approaches to improve user retention by modeling users' diverse interests, user-to-user follow relationships and drivers for opening the Kuaishou App. In terms of content operations, we have established a unique, multi-faceted ecosystem by developing specialized content verticals aligned with users' interests, supporting standout creators whose content represents Kuaishou's distinctive brand, and expanding our brand visibility and user reach with high-profile events. In the sports vertical, as a rights-holding broadcaster of the Olympic Games Paris 2024, we delivered a comprehensive content matrix that included panoramic on-demand event coverage, exclusive self-developed IP content, interactive features, and diverse user-generated content, creating an all-encompassing Olympic experience for users. During the Olympic Games Paris 2024, Olympic-related content on the Kuaishou App generated 310.6 billion impressions, with 640 million users watching the Olympic Games on our platform and generating 15.9 billion interactions. With respect to our search business, in the third quarter of 2024, we optimized the search results page to improve user experience, significantly increasing our search user penetration. In the third quarter of 2024, average MAUs for Kuaishou searches exceeded 500 million, and average daily searches increased by over 20.0% year-over-year to over 700 million with daily searches peaking at over 800 million. Moreover, user searches accelerated the growth of our revenue-generating businesses related to searches by enabling us to gain deeper insights into users' needs. Online marketing services In the third quarter of 2024, revenue from online marketing services grew by 20.0% year-over-year, reaching RMB17.6 billion, demonstrating the sustainable growth of our online marketing services business. By continuously improving our data infrastructure, smart placement products and algorithms, we achieved a higher placement ROI for our marketing clients, leading to increased bids. Additionally, our large AI models' semantic understanding of marketing content and merchandise characteristics enables us to match users and merchandise more accurately for our merchants, boosting marketing conversion efficiency. In the third quarter of 2024, revenue growth of our online marketing services was primarily driven by external marketing clients. Marketing spending in media information, e-commerce platforms and local services grew faster year-over-year. In the media information vertical, marketing spending from commercialized short plays grew significantly. We increased user payment conversion rate through high-quality content offerings and the implementation of smart dynamic subsidy strategies, improved placement outcomes for our marketing clients. In the third quarter of 2024, we accelerated the implementation of the In-Apps Ads (IAA, 應用內廣告) short play model, expanding our user base for free short plays. These efforts contributed to a more than three-fold year-over-year increase in short-play marketing spending during the same period. We also introduced differentiated Universal Auto X (UAX, 全自動投放解決方案) placement solutions for various industries and scenarios, enhancing the stability of clients' marketing placements and driving increased budget allocation. As a result, total marketing spending through UAX accounted for approximately 50.0% of overall marketing spending by external marketing clients in the third quarter of 2024. Revenue growth of our closed-loop marketing services remained robust in the third quarter of 2024. The number of monthly active merchants using marketing placements increased by over 50.0% year over year. We provided simplified, automated marketing placement services for small and medium-sized merchants, enabling them to increase their GMV through marketing placements and significantly improving the retention rate of these merchants. We focused on policy support, product iterations, and algorithm optimizations to improve the operating efficiency of converting short video traffic to live streaming, which increased marketing spending in this scenario by nearly 20.0% year-over-year in the third quarter of 2024. Smart marketing placement is now a critical element of merchants' sustainable operations on the Kuaishou App. In the third quarter of 2024, our omni-platform marketing solution and smart hosting products accounted for approximately 50.0% of total closed-loop marketing spending on the Kuaishou App. In terms of brand marketing services, we provide clients with integrated solutions that drive both brand awareness and sales conversion through marketing science, KOL recommendations, and customized strategies to attract marketing clients. In the third quarter of 2024, we also capitalized on the Olympic Games Paris 2024 by partnering with over 150 brands, including Yili, China Mobile and FAW-Volkswagen, to support these clients' rapid growth on Kuaishou with innovative marketing solutions empowered by our "sports+" strategy and content ecosystem. E-commerce Our e-commerce business in the third quarter of 2024 demonstrated its differentiation and resilience despite the third quarter being a traditionally slow season for e-commerce and ongoing challenges in consumer demand. We maintained strong market presence due to our solid foundation in content-based e-commerce and our strategy to provide "exceptional content, superior product." By strategically refocusing on live streaming e-commerce, further unlocking the potential of short video e-commerce, and steadily expanding our pan shelf-based e-commerce, we are maximizing synergies across multiple e-commerce scenarios. These efforts to boost e-commerce supply, enrich our e-commerce ecosystem and increase user spending drove a 15.1% year-over-year increase in e-commerce GMV to RMB334.2 billion in the third quarter of 2024. On the supply side, the number of average monthly active merchants increased by over 40.0% year-over-year in the third quarter of 2024. Small and medium-sized merchants' performance on our platform exceeded expectations thanks to our strategic new merchant programs, including the Golden Bounty Initiative (斗金計劃), Set Sail Initiative (啟航計劃) and Uplift Initiative (扶搖計劃). These programs help early-stage merchants increase traffic and reduce uncertainties. In the third quarter of 2024, the number of new merchants joining Kuaishou increased by over 30.0% year-over-year. Meanwhile, for existing small and medium-sized merchants, we offered refined methodologies for content-based e-commerce to support various merchants' operating capabilities on Kuaishou, facilitating their long-term business growth. Our merchants' healthy growth enriched our platform's merchandise ecosystem by expanding the number of merchandise categories by over 20.0% year-over-year in the third quarter of 2024 and providing users with a wider selection of high-quality products. To enhance our content-based e-commerce, we customized operations for KOLs in different tiers. For top-tier KOLs, we introduced marketing features and tools, such as Exclusive Mega Group Buy (購物團) and Mega Crowd Deals (萬人團), to incentivize them to live stream and enhance the value of their content. To support small and medium-sized KOLs, we launched our Rising Star Initiative (新星計劃) in August 2024, which provides cash incentives and traffic support while collaborating with regional service providers for local operations. In the third quarter of 2024, these initiatives helped small and medium-sized KOLs achieve strong growth, increasing their average daily GMV by over 40.0% quarter-over-quarter and average daily number of merchandise sold by over 25.0% quarter-over-quarter. We also launched our Blockbusters Initiative (爆品計劃), offering subsidies for selected merchandise to provide users with more affordable, high-quality products. As a result of these efforts, our GMV achieved by KOLs increased by over 24.0% year-over-year during the 818 Shopping Festival. Short video e-commerce also maintained rapid growth, with its GMV increasing by over 40.0% year-over-year in the third quarter of 2024, driven by blockbuster products and live-streaming highlights. Through strategy optimization such as integrating e-commerce contents with marketing materials, and joint modeling of short video traffic and simple live streaming rooms, we achieved a nearly 40% quarter-over-quarter growth in GMV driven by short videos directing traffic to live streaming rooms in the third quarter of 2024. While stabilizing and growing our content-based e-commerce, our pan shelf-based e-commerce has become an increasingly effective complement. In the third quarter of 2024, pan shelf-based e-commerce GMV accounted for 27.0% of our total e-commerce GMV, and its growth continued to outperform our overall GMV growth, driven by both strong supply and demand. Average daily active merchants and average daily active paying users in our shopping mall grew by nearly 70.0% and over 60.0% year-over-year, respectively, in the third quarter of 2024. The continued enrichment of our e-commerce supply and ecosystem and increased synergies across e-commerce scenarios further stimulated user demand. In the third quarter of 2024, the number of e-commerce monthly active paying users grew by 12.2% year-over-year to 133 million, continuing the growth trend established in the second quarter which was the peak season. Our diverse marketing strategies, which include targeted approaches for new, growing and mature users, also supported this growth. Tools such as coupons for live streaming rooms and order incentives have been instrumental in expanding our user base and improving conversion rate and transaction efficiency. Going forward, we remain committed to our user-centric approach. By leveraging integrated live streaming and short video content, along with our pan shelf-based e-commerce strategy, we will continue to empower merchants and KOLs to grow holistically and provide a better shopping experience for our users. Live streaming In the third quarter of 2024, revenue from our live-streaming business was RMB9.3 billion, with the year-over-year decline continuing to narrow sequentially. As an instrumental component of our content ecosystem and ongoing driver of user engagement, we remain focused on fostering a healthy, sustainable live-streaming ecosystem. On the supply side, multi-host live streaming and other emerging product categories continued to grow. Increasing professionalism and institutionalization of streamers and our partner talent agencies' enhanced operational capabilities supported this growth, contributing to more refined and effective content delivery. By the end of the third quarter of 2024, the number of our partner talent agencies increased by more than 40.0%, and the number of talent agency-managed streamers increased by over 60.0%, both on a year-over-year basis. We continued to expand the variety of high-quality content on our platform, with rich entertainment and local cultural content as foundational pillars. We focused on different niche areas and launched multiple content IPs featuring talented streamers, such as the Grand Stage (直播大舞台) and the New Episodes of National Arts (國藝有新番) live-streaming programs. By integrating content IPs with local culture and tourism, we successfully promoted the development of local cultural and tourism industries. To further enhance our gaming live-streaming ecosystem, we implemented a comprehensive content marketing strategy that included incubation of new games, game distribution through live streaming, and cultivation of top-tier influencers, among other initiatives. We also developed gaming content with distinct Kuaishou characteristics. In the third quarter of 2024, the number of active gaming live-streaming creators exceeded 30 million, strengthening the appeal of our diverse top-notch content to live-streaming users. Our "live streaming+" services continued to empower traditional industries. For example, we continued to advance our services related to recruitment and real estate, leading to ongoing rapid growth in the number of customers served and transaction scale. In the third quarter of 2024, the average daily number of resume submissions on Kwai Hire (快聘) nearly doubled, and matching rate grew by over 20.0%, both on a year-over-year basis. For Ideal Housing (理想家), daily lead generation surged by over four-fold compared with the same period last year. Overseas We progressed our overseas business in Brazil, where Kwai is building strong local brands by deepening local content operations. In the third quarter of 2024, we maintained high-quality, robust user growth, achieving breakthroughs in innovative user acquisition channels and improving user retention. DAUs in Brazil grew by 9.7% year-over-year in the third quarter of 2024. As for content operations, we promoted greater visibility for premium content through algorithm optimizations across multiple verticals such as entertainment, news, everyday life, sports and others. Leveraging Kwai's strong user base and growing brand influence, we further optimized the monetization mechanism for creators and refined products flow to enhance their earning potential and motivation. Meanwhile, the efficiency of content subsidy programs improved steadily, supporting creators' sustainable operations. User activity grew consistently, with the average daily time spent per DAU in Brazil rising by 4.2% year-over-year in the third quarter of 2024. In terms of monetization, we continued to enhance marketing clients' experience with improved traffic mechanisms and efficiency while ensuring a healthy ecosystem. We also embedded new traffic scenarios to increase marketing revenue, resulting in a year-over-year increase in online marketing revenue that doubled in the third quarter of 2024, and our total overseas revenues reached RMB1.3 billion, growing by 104.1% year-over-year. Along with this rapid revenue growth, we maintained highly efficient operations under an ROI-driven approach. This led to the operating loss from our overseas business decreasing by 75.9% year-over-year to RMB153 million in the third quarter of 2024. In addition, after more than a year of exploring e-commerce business models in Brazil, we made initial progress with our e-commerce business in terms of products, content, services and transaction efficiency, providing overseas users with more functions and services. These initial strides lay a solid foundation for our future growth overseas. About Kuaishou Kuaishou is a leading content community and social platform in China and globally, committed to becoming the most customer-obsessed company in the world. Kuaishou uses its technological backbone, powered by cutting-edge AI technology, to continuously drive innovation and product enhancements that enrich its service offerings and application scenarios, creating exceptional customer value. Through short videos and live streams on Kuaishou's platform, users can share their lives, discover goods and services they need and showcase their talent. By partnering closely with content creators and businesses, Kuaishou provides technologies, products, and services that cater to diverse user needs across a broad spectrum of entertainment, online marketing services, e-commerce, local services, gaming, and much more. Forward-Looking Statements Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "might", "can", "could", "will", "would", "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "plan", "seek", or "timetable". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include our business outlook, estimates of financial performance, forecast business plans, growth strategies and projections of anticipated trends in our industry. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, many of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in the future. Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this press release or those that might reflect the occurrence of unanticipated events. For investor and media inquiries, please contact Kuaishou Technology Investor Relations
Information Provided by PR Newswire [Disclaimer]
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| 16:39 |
快手科技發佈2024年第三季度未經審核財務業績
香港2024年11月20日 /美通社/ -- 領先的內容社區及社交平台快手科技（「快手」或「公司」；港幣櫃台股份代號：01024 / 人民幣櫃台股份代號：81024），今日發佈截至2024年9月30日止未經審核的第三季度及九个月合併業績。 2024年第三季度業績摘要
快手聯合創始人、董事長兼首席執行官程一笑先生表示：「2024年第三季度，我們堅守用戶價值初心，致力於追求技術和内容生態發展，推動快手應用的平均日活躍數和月活躍用戶數再創歷史新高，分別達到4.075億和7.141億。我們全球領先的視頻生成大模型可靈AI正在樹立行業新標准，重新定義內容創作、打造個性化內容生產與體驗。用戶活躍度的不斷提升，也為我們的商業增長注入了持續動力。第三季度總收入同比增長11.4%，達人民幣311億元，包含線上營銷服務收入和以電商收入為主的其他服務收入在內的核心商業收入同比增長近20.0%。盈利能力持續改善，經調整利潤净額同比增長24.4%，達人民幣39億元。展望未來，我們將持續推進AI戰略，夯實現有業務，並為用戶、內容和商業生態的長期可持續增長奠定堅實基礎。」 2024年第三季度財務回顧 線上營銷服務收入由2023年同期的人民幣147億元增加20.0%至2024年第三季度的人民幣176億元，主要是由於智能投放能力及算法的持續優化，推動營銷客戶消耗增加。 直播業務收入由2023年同期的人民幣97億元減少3.9%至2024年第三季度的人民幣93億元，是由於我們持續努力建立一個健康及可持續的直播生態系統。 其他服務收入由2023年同期的人民幣35億元增加17.5%至2024年第三季度的人民幣42億元，主要是由於我們電商業務的增長，表現為電商GMV的增加。電商GMV增加是由於我們持續精細化的全域經營，推動電商月活躍買家數量及月動銷商家數量增加。 2024年第三季度其他主要財務資料 經營利潤自去年同期的人民幣22億元增加至人民幣31億元。 經調整EBITDA（4）自去年同期的人民幣50億元增加至人民幣56億元。 可利用資金總額（5）於2024年9月30日為人民幣867億元。 附註： （1）於我們平台交易或通過我們平台跳轉到合作夥伴平台交易。 業務回顧 2024年第三季度，儘管面臨宏觀環境挑戰，但我們仍得以擴大用戶規模並增加收入和利潤。我們堅持「科技為本，用戶為先」的經營理念，實現了單季度平均日活躍用戶破4億的里程碑成績，也取得了令人滿意的財務業績。總收入同比增長11.4%至人民幣311億元，其中，包括線上營銷服務及以電商為主的其他服務在內的核心商業收入於2024年第三季度同比增長近20.0%。經調整淨利潤人民幣39億元，同比增長24.4%，盈利能力持續提升。 我們繼續深化大模型在內容生成、內容理解和推薦方面的整合及應用，賦能我們的內容和商業生態系統。2024年第三季度，來自營銷客戶的AIGC營銷素材日均消耗超過人民幣2,000萬元。在視頻生成模型方面，我們於2024年9月發佈最新的「可靈AI」1.5版本，新版本在畫面質量、動態表現和語義響應速度等方面領跑行業，不僅將視頻清晰度提升至1080p，還上線了運動筆刷等升級功能。 用戶及內容生態系統 2024年第三季度，快手應用的平均日活躍用戶和平均月活躍用戶分別達到了4.08億及7.14億，分別同比增長5.4%和4.3%，進一步鞏固了我們作為中國第三大應用程序（按季度平均日活躍用戶計）的領先地位。快手應用的日活躍用戶日均使用時長達132.2分鐘，快手應用的用戶總使用時長同比增長7.3%，日均直播及短視頻播放次數近1,100億。 在執行高質量用戶增長策略方面，我們通過升級營銷渠道投放能力，優化產品形態，並結合了包括電商在內的商業場景。這些努力使我們在擴大用戶規模的同時不斷提升用戶產品使用頻次。我們還通過提高社區互動氛圍提升用戶留存。例如，我們優化用戶私信場景、引入更多創新玩法以及完善評論區排序系統，以增加用戶參與度和黏性。在算法策略上，我們圍繞用戶興趣多樣性探索、關注關係和用戶打開快手應用的理由等建模，探索提升用戶留存的新路徑。 在內容運營方面，我們打造符合用戶興趣的特色內容垂類，扶持內容具有快手特色的標杆創作者，並通過高熱點大事件提升品牌曝光率，構建獨特而豐富的生態系統。在體育垂類方面，作為2024巴黎奧運會持權轉播商，我們為用戶提供了包括全景賽事點播、獨家自製IP內容、互動玩法和豐富的用戶原創內容（UGC）等於一體的超級內容矩陣，全方位滿足用戶的追奧運需求。2024巴黎奧運會期間，快手應用上奧運相關內容曝光量達3,106億，共6.4億位用戶通過我們的平台觀看奧運，互動次數達159億。 在搜索業務方面，2024年第三季度，我們優化搜索結果頁改善用戶體驗，帶來搜索滲透率的大幅提升，2024年第三季度月均使用快手搜索的用戶超過5億，日均搜索次數同比增長超20.0%至超過7億，單日搜索次數峰值也超過8億。用戶的搜索幫助我們更好地理解用戶需求，也驅動了搜索相關營收業務的高速增長。 線上營銷服務 2024年第三季度，我們的線上營銷服務收入達到人民幣176億元，同比增長20.0%，彰顯了我們線上營銷服務業務的強大韌性。我們在數據基建、智能投放產品和算法上的持續提升，為營銷客戶提供更好的投放ROI，也帶來更好的營銷服務出價。同時，基於AI大模型對營銷內容和商品特徵的語義理解，我們能為商家做更精準的人貨匹配，提升營銷轉化效率。 2024年第三季度，外循環營銷客戶成為線上營銷服務收入增長的主要驅動力，特別是在傳媒資訊、平台電商和本地生活等行業的營銷消耗取得了更高的同比增速。在傳媒資訊的垂直領域，商業化短劇的營銷消耗大幅增長。我們通過優質內容供給及智能化動態補貼策略，提升用戶付費轉化率，給營銷客戶帶來了更好的投放效果。2024年第三季度，我們也加速跑通了In-Apps Ads （IAA，應用內廣告）短劇模式，擴大免費短劇內容的消費用戶規模，以上舉措帶來同期的短劇營銷消耗同比增長超過300%。2024年第三季度，我們針對不同行業和場景提供差異化的Universal Auto X （UAX，全自動投放解決方案），提升客戶營銷投放穩定性，撬動其投放預算。因此，2024年第三季度，全自動投放解決方案的總營銷消耗佔外循環營銷客戶整體營銷消耗的比例提升至約50.0%。 內循環營銷服務收入在2024年第三季度繼續保持穩健增長，月動銷投流商家數量同比增長超過50.0%。我們為中小商家提供的極簡化自助投流能力，幫助商家通過營銷投放實現了GMV躍遷，投流商家的留存率顯著改善。針對短視頻引流直播間的投放場景，我們通過政策牽引、產品迭代及算法優化提升商家的經營效率，帶來短視頻引流直播間場景的營銷投放消耗在2024年第三季度同比增長近20.0%。智能化投放已逐步成為商家在快手應用長效經營的基礎能力，2024年第三季度我們的全站營銷解決方案及智能託管產品佔快手應用內循環總營銷消耗的比例達到約50.0%。 在品牌營銷服務方面，我們通過營銷科學、達人種草和定製招商等方式為客戶提供品效合一的品牌營銷解決方案。2024年第三季度，我們依託2024巴黎奧運會賽事，憑藉「體育+」戰略與內容生態體系，與伊利、中國移動和一汽大眾等150多個品牌聯合探索營銷創新，助力品牌客戶在快手迅速增長。 電商 儘管第三季度是傳統的電商淡季，且消費需求面臨持續挑戰，但我們的電商業務在2024年第三季度仍展現出了差異化與韌性。得益於我們充分立足於內容電商，堅持「好內容+好商品」的戰略，我們保持著強大的市場影響力。我們推進回歸直播間、突破短視頻、穩步建設泛貨架的方向，最大化多場域電商協同的優勢，努力提升電商供給，豐富電商生態，提升用戶購買心智，2024年第三季度電商業務GMV同比增長15.1%至人民幣3,342億元。 從供給側來看，2024年第三季度月均動銷商家數同比增長超40.0%。我們平台上的中小商家業績超預期增長，這主要得益於我們推動斗金計劃、啟航計劃和扶搖計劃等戰略性新商策略，給予商家更豐沛的冷啟流量，並為商家經營的確定性持續努力。2024年第三季度，新入駐快手商家數量同比增長超30.0%。同時，對於存量中小商家，我們提供了更明確的內容電商經營方法論，幫助不同商家提升運營能力，使其在快手得到長期的業務增長。得益於商家的蓬勃發展，我們平台的商品生態也日益豐富，2024年第三季度商品類目數量同比增長超20.0%，為用戶帶來更多更好的商品選擇。 為加強內容電商，我們針對不同層級達人進一步精細化運營。針對頭部達人，我們開發了購物團、萬人團等營銷玩法及工具，提升達人的開播積極性並放大主播內容價值。為支持中小達人，我們在2024年8月上線了新星計劃，提供現金激勵和流量扶持，同時協同區域服務商做屬地化運營。2024年第三季度，這些舉措幫助中小達人實現了強勁增長，中小達人日均撮合GMV環比增長超40.0%，日均撮合商品數環比增長超25.0%。同時，我們上線了爆品計劃，為精選商品提供補貼，幫助用戶獲得高性價比的好物。通過這些努力，818大促期間電商達人業務GMV同比增長超24.0%。另外，短視頻電商也保持高速增長，2024年第三季度的短視頻電商GMV同比增長超40.0%，爆品增長迅速，直播切片的增量貢獻也明顯增加。我們通過電商與營銷素材打通，引流短視頻與簡易直播間聯合建模等策略優化，實現了2024年第三季度短視頻引流直播間成交的GMV環比增長近40%。 在穩住並持續增長內容電商基本盤的同時，泛貨架電商正在逐步成為內容場的更加高效補充。2024年第三季度，泛貨架電商GMV持續超大盤增長，佔比總電商GMV進一步提升至27.0%。這主要得益於供需兩端協同發力，2024年第三季度商城場域日均動銷商家同比增長近70.0%，日均活躍買家同比增長超60.0%。 電商供給和生態的不斷豐富、電商多場域協同效應的不斷增強，進一步撬動了電商用戶的需求。2024年第三季度，我們的電商月活躍買家數同比增長12.2%至1.33億，在二季度旺季的基礎上環比持續提升。這也得益於我們圍繞新用戶、成長期及成熟期的用戶引入多元營銷玩法，包括直播間天降券、單單返等營銷工具及玩法，持續提升用戶規模和交易效率。展望未來，我們會持續秉持「用戶為先」的方向，藉助直播+短視頻的內容場以及泛貨架的全域經營戰略，助力商家和達人實現全域增長，也為用戶帶來更好的購物體驗。 直播 2024年第三季度，直播業務收入為人民幣93億元，同比收入降幅環比進一步收窄。作為快手底層的內容生態和快手用戶重要的打開理由，我們著力推進健康、可持續的直播生態建設。在供給側，多人直播等新興品類也持續貢獻價值，平台上的主播職業化、機構化的趨勢進一步加強，合作公會的精細化運營能力日益提升，促進了更精細、更有效的內容交付。2024年第三季度末簽約公會機構數量同比提升超40.0%，簽約主播數量同比增長超60.0%。 我們持續豐富多元化優質內容，先後推出了直播大舞台、國藝有新番等多檔圍繞才藝主播的內容IP，以豐富的娛樂文化內容為核心，聚焦不同細分領域，更與當地文旅資源結合，促進了當地文旅產業的發展。另外，遊戲直播生態進一步豐富，我們通過新遊戲孵化、遊戲直播帶貨、大V標杆打造等進行全方位的遊戲直播內容營銷；同時發展快手特色遊戲內容，2024年第三季度遊戲直播活躍作者數超3,000萬，多元優質內容對直播用戶的吸引進一步增強。 「直播+」服務繼續賦能傳統行業。例如，我們繼續推進招聘、房產交易的落地，在服務人群、交易規模上均持續快速增長。2024年第三季度，快聘業務的日均簡歷投遞量同比增長近1倍，雙向匹配率同比增長超過20.0%；理想家業務日均線索規模同比增加超4倍。 海外業務 我們的海外業務立足巴西發展，通過深耕本地化的內容運營，Kwai致力於打造強大的本地化市場品牌。2024年第三季度，用戶方面保持高質量、健康增長，在創新獲客渠道的探索和用戶留存的改善上均取得了一些突破，巴西的日活躍用戶同比增長9.7%。內容運營方面，通過算法優化，我們在娛樂、新聞、生活記錄、體育等垂類扶持優質內容的出坡。基於Kwai強大的用戶基礎和逐步擴大的品牌影響力，我們進一步優化創作者的變現機制和產品鏈路以提升他們的變現能力和創作積極性。同時，平台內容補貼效率穩步提升，為創作者的可持續運營提供支撐。用戶的活躍度同步穩步增長，2024年第三季度巴西日活躍用戶的日均使用時長同比增長4.2%。 變現上，通過持續迭代營銷體驗，在保障生態健康的基礎上，進一步優化流量機制和效率，同時接入新的流量場景，擴展營銷增量收入。2024年第三季度，線上營銷收入同比翻倍增長，海外整體收入達到人民幣13億元，同比增長104.1%。海外收入高速增長的同時，我們秉持以ROI驅動的發展模式，保持高效運營效率，2024年第三季度海外分部的營業虧損為人民幣1.53億元，同比減少75.9%。此外，我們在巴西探索的電商業務模式經過一年多的摸索，在商品、內容、服務和成交效率的全鏈路上均取得了一些初步進展，為海外用戶提供了更廣泛的應用功能和服務。這些初步進展為我們今後在海外的發展奠定了堅實基礎。 關於快手 快手作為中國乃至全球領先的內容社區及社交平台，致力於成為全球最癡迷于為客戶創造價值的公司。作為一家以人工智能為核心驅動和技術依託的科技公司，快手專注於通過持續的技術創新和產品升級，不斷豐富服務和應用場景，為客戶創造價值。在快手，用戶通過短視頻和直播來記錄和分享他們的生活，發現所需，發揮所長。通過與內容創作者和企業緊密合作，快手提供的技術、產品和服務可滿足用戶的多元化的需求，包括娛樂、線上營銷服務、電商、本地生活、遊戲等。 前瞻性聲明 除過往事實的陳述外，本新聞稿載有若干前瞻性陳述。前瞻性陳述一般可透過所使用前瞻性詞彙識別，例如「或會」、「可能」、「可」、「可以」、「將」、「將會」、「預期」、「認為」、「繼續」、「估計」、「預計」、「預測」、「打算」、「計劃」、「尋求」或「時間表」。該等前瞻性陳述受風險、不確定因素及假設的影響，可能包括業務展望、財務表現預測、業務計劃預測、發展策略及對我們行業預期趨勢的預測。該等前瞻性陳述是根據本集團現有的資料，亦按本新聞稿刊發之時的展望為基準，在本新聞稿內載列。該等前瞻性陳述是根據若干預測、假設及前提作出，當中許多涉及主觀因素或不受我們控制。該等前瞻性陳述或會證明為不正確及可能不會在將來實現。該等前瞻性陳述涉及大量風險及不明朗因素。鑒於上述風險及不明朗因素，本新聞稿內所載列的前瞻性陳述不應視為董事會或本公司聲明該等計劃及目標將會實現，故投資者不應過於依賴該等陳述。除法律要求的情形外，我們並無責任公開發佈可能反映本新聞稿日期後發生的事件或情況或可能反映意料之外事件的該等前瞻性陳述的任何修訂。 投資者及媒體問詢 快手科技
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| 16:34 |
The HSI added 41 points or 0.2% to close at 19,705. The HSCEI inched up 6 points or 0.1% to close at 7,090. The HSTECH picked up 18 points or 0.4% to close at 4,413. The total market turnover for the day amounted to $114.671 billion. Information Provided by AAStocks Financial News [Disclaimer]
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| 12:22 |
Opening 40 points lower, the HSI managed to rebound 79 points to peak at 19,742 in early trading. It then turned south, once bottoming at 19,575 with a slip of 87 points, eventually ending the midday down 22 points or 0.1% at 19,641. The HSCEI fell 16 points or 0.2% to 7,065. The HSTECH grew 1 point to 4,396. The total half-day turnover for the market amounted to $60.469 billion. Information Provided by AAStocks Financial News [Disclaimer]
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