On June 8, Kuaishou-W fell 4.23% in regular trading, trading at HK$45.2 per share, with trading volume of HK$561 million.

The decline reflects continued pressure from Kuaishou's Q1 earnings released on May 27, which showed net profit of RMB 2.905 billion, down 27% year-over-year, while adjusted net profit fell 26.3% to RMB 3.374 billion. Gross margin contracted from 54.6% to 51.2%, with livestreaming revenue declining 13.5% and bandwidth and server hosting costs rising 18.4%. Heavy AI investment continues to squeeze margins.

Adding to the selling pressure, reports emerged that Kuaishou's subsidiary Kling AI is conducting its Pre-IPO round at a pre-money valuation of US$18 billion, below the previously rumored US$20 billion. Kling AI is internally targeting early 2027 for Hong Kong IPO filing. The valuation markdown, representing approximately 67% of Kuaishou's current market cap, has dampened sentiment.

The broader Interactive Media and Services sector also traded lower, with BIDU-SW down 6.93%, Newborn Town down 4.01%, MEITU down 2.79%, TENCENT down 1.19%, and BILIBILI-W down 1.05%.

(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.)