On September 10, KUAISHOU-W fell 3.03% in regular trading, trading at HK$31.34 with turnover of HK$383 million, hitting a fresh four-year low.

The decline was driven by continued fallout from weak Q2 results and persistent institutional selling. The company reported Q2 revenue of RMB 35.535 billion, up just 1.4% year-over-year, while adjusted net profit fell 30.3% to RMB 3.913 billion. Gross margin contracted sharply from 55.7% to 51.6%, and operating margin narrowed from 15.1% to 10.6%. For the first half, cumulative revenue grew only 2.4% to RMB 69.251 billion, with adjusted net profit declining 28.5% to RMB 7.287 billion.

On the institutional front, BlackRock reduced its long position to 4.99% in late August, selling approximately 583,100 shares at an average price of HK$33.143. UBS also trimmed its stake to 7.87%. Morgan Stanley had previously downgraded the stock to Equal-weight with a target price of HK$40. The company has maintained a steady buyback program, repurchasing 618,000 shares on September 9 at HK$32.12-32.54 per share, though this has yet to stem selling pressure.

(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.)