On June 3, Kuaishou-W fell 3.14% in regular trading, trading at 47.48 HKD/share, with trading volume of 335 million HKD. The stock pulled back after two consecutive sessions of gains driven by Kling AI spin-off expectations.

On the news front, Kuaishou released Q1 results on May 27 showing net profit of RMB 2.905 billion, down 27% year-over-year, with adjusted net profit declining 26.3% to RMB 3.374 billion. Gross margin contracted from 54.6% to 51.2%. The company's core livestreaming business posted a 13.5% revenue decline, while bandwidth and server hosting costs surged 18.4% as intensive AI investment continued to squeeze margins. Total revenue grew only 3.4% to RMB 33.7 billion, reflecting a structural slowdown in traditional growth engines including e-commerce and advertising.

Within the Interactive Media and Services sector, broad weakness was evident. Among peers, Tencent fell 1.99%, Meitu dropped 7.69%, Baidu declined 1.34%, Bilibili fell 3.4%, and Newborn Town lost 3.9%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)