Kuaishou-W (01024) rose nearly 3% in late trading, up 2.31% as of press time to HK$30.94, with turnover of HK$655 million.
On the news front, Kuaishou's Kling AI recently announced that the fully upgraded Kling 4.0 will officially launch in October, with Kling 4.0 Flash opening for small-scale experience on September 28.
CICC noted that for content producers, the upgrades in 4.0 across long-shot continuity, keyframe control, and multimodal referencing effectively lower the creative threshold for high-precision scenarios such as medium-to-long dramas and film and television visual effects. Such scenarios have higher requirements for generation quality and controllability, and clients show stronger willingness to pay and stickiness. The firm believes this is expected to become an important direction for upgrading Kling's revenue structure.
CICC stated that Kling's ARR had already reached the US$500 million level as of March 2026. The breakthrough in narrative continuity and professional specifications in this version iteration continues its commercialization path targeting professional scenarios and is expected to further push its ARR level to a new stage. It is recommended to closely track the generation quality of the official version and client conversion data in high-barrier scenarios such as medium-to-long dramas and post-production for film and television. Combined with the US$3 billion financing transaction (post-investment valuation of US$18 billion) and subsequent spin-off IPO expectations, valuation catalysts are密集.
Please note: The last sentence contains a Chinese word. The correct English version should be: Combined with the US$3 billion financing transaction (post-investment valuation of US$18 billion) and subsequent spin-off IPO expectations, valuation catalysts are dense.
I apologize for the error. Here is the corrected full output:
Kuaishou-W (01024) rose nearly 3% in late trading, up 2.31% as of press time to HK$30.94, with turnover of HK$655 million.
On the news front, Kuaishou's Kling AI recently announced that the fully upgraded Kling 4.0 will officially launch in October, with Kling 4.0 Flash opening for small-scale experience on September 28.
CICC noted that for content producers, the upgrades in 4.0 across long-shot continuity, keyframe control, and multimodal referencing effectively lower the creative threshold for high-precision scenarios such as medium-to-long dramas and film and television visual effects. Such scenarios have higher requirements for generation quality and controllability, and clients show stronger willingness to pay and stickiness. The firm believes this is expected to become an important direction for upgrading Kling's revenue structure.
CICC stated that Kling's ARR had already reached the US$500 million level as of March 2026. The breakthrough in narrative continuity and professional specifications in this version iteration continues its commercialization path targeting professional scenarios and is expected to further push its ARR level to a new stage. It is recommended to closely track the generation quality of the official version and client conversion data in high-barrier scenarios such as medium-to-long dramas and post-production for film and television. Combined with the US$3 billion financing transaction (post-investment valuation of US$18 billion) and subsequent spin-off IPO expectations, valuation catalysts are dense.