Movement Alert|KUAISHOU-W Rises 3.01% in Regular Trading as Kling AI IPO Expectations Reignite amid UBS Stake Reduction

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Yesterday

On October 9, KUAISHOU-W rose 3.01% in regular trading, trading at 29.4 HKD/share, with turnover of 482 million HKD. The intraday gain was driven by renewed expectations for the Hong Kong listing of its subsidiary Kling AI, alongside easing short-selling pressure after a stake reduction by UBS Group AG.

Market reports indicate Kling AI has selected CICC, Goldman Sachs and UBS as underwriters for a proposed Hong Kong IPO targeting at least 1 billion USD, potentially as early as 2027. Kling AI's second-quarter revenue exceeded 850 million RMB, up over 200% year-on-year, supporting valuation re-rating of the parent company. The move reflects more of a revaluation of KUAISHOU-W's AI assets than fresh incremental capital inflows, as UBS's disclosed off-exchange reduction of about 2 million shares lowered its long position ratio to 7.98%.

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