Financial PerformanceAdjusted net profit grew by 74% YoY to RMB4.7bn, 8% ahead of consensus estimate thanks to better-than-expected cost optimization and opex control.
Market GrowthKuaishou achieved solid gross merchandise value (GMV) growth of 21% yoy in 1H24, compared with the China online retail industry’s growth of 10%.
Technology And OperationsKuaishou's proactive upgrade in technology and operations will help to cushion the impact of a challenging macro backdrop and intense competition.