Kuaishou Technology Announces Fourth Quarter and Full Year 2024 Financial Results
Kuaishou Technology (KSHTY) reported strong financial results for Q4 and full year 2024. In Q4, total revenue increased 8.7% YoY to RMB35.4 billion, with online marketing services contributing 58.3% and live streaming 27.8%. The company's Q4 profit rose 10% to RMB4.0 billion.
For full year 2024, revenue grew 11.8% to RMB126.9 billion, while profit surged 139.8% to RMB15.3 billion. The platform's user base expanded significantly, with average daily active users (DAUs) reaching 401.0 million in Q4, up 4.8% YoY. Total e-commerce GMV increased 14.4% to RMB462.1 billion in Q4.
Notable achievements include the launch of Kling, their AI visual generation model, which has generated over RMB100 million in revenue since monetization began. The company's AI initiatives have enhanced content recommendations and marketing efficiency, with average daily spending on AIGC marketing materials exceeding RMB30 million in Q4 2024.
Kuaishou Technology (KSHTY) ha riportato risultati finanziari solidi per il quarto trimestre e l'intero anno 2024. Nel quarto trimestre, il fatturato totale è aumentato dell'8,7% su base annua, raggiungendo 35,4 miliardi di RMB, con i servizi di marketing online che hanno contribuito per il 58,3% e lo streaming dal vivo per il 27,8%. L'utile del quarto trimestre dell'azienda è aumentato del 10%, raggiungendo 4,0 miliardi di RMB.
Per l'intero anno 2024, il fatturato è cresciuto dell'11,8%, raggiungendo 126,9 miliardi di RMB, mentre l'utile è aumentato del 139,8%, arrivando a 15,3 miliardi di RMB. La base utenti della piattaforma è cresciuta significativamente, con una media di utenti attivi giornalieri (DAU) che ha raggiunto 401,0 milioni nel quarto trimestre, in aumento del 4,8% su base annua. Il valore lordo della merce (GMV) dell'e-commerce è aumentato del 14,4%, raggiungendo 462,1 miliardi di RMB nel quarto trimestre.
Tra i risultati notevoli c'è il lancio di Kling, il loro modello di generazione visiva AI, che ha generato oltre 100 milioni di RMB di fatturato da quando è iniziata la monetizzazione. Le iniziative di intelligenza artificiale dell'azienda hanno migliorato le raccomandazioni di contenuto e l'efficienza del marketing, con una spesa media giornaliera per i materiali di marketing AIGC che ha superato i 30 milioni di RMB nel quarto trimestre 2024.
Kuaishou Technology (KSHTY) informó resultados financieros sólidos para el cuarto trimestre y el año completo 2024. En el cuarto trimestre, los ingresos totales aumentaron un 8,7% interanual, alcanzando 35,4 mil millones de RMB, con los servicios de marketing en línea contribuyendo con un 58,3% y las transmisiones en vivo con un 27,8%. La utilidad de la compañía en el cuarto trimestre creció un 10%, alcanzando 4,0 mil millones de RMB.
Para el año completo 2024, los ingresos crecieron un 11,8%, alcanzando 126,9 mil millones de RMB, mientras que la utilidad se disparó un 139,8%, llegando a 15,3 mil millones de RMB. La base de usuarios de la plataforma se expandió significativamente, con un promedio de usuarios activos diarios (DAU) que alcanzó los 401,0 millones en el cuarto trimestre, un aumento del 4,8% interanual. El GMV total del comercio electrónico aumentó un 14,4%, alcanzando 462,1 mil millones de RMB en el cuarto trimestre.
Logros notables incluyen el lanzamiento de Kling, su modelo de generación visual de IA, que ha generado más de 100 millones de RMB en ingresos desde que comenzó la monetización. Las iniciativas de IA de la compañía han mejorado las recomendaciones de contenido y la eficiencia del marketing, con un gasto diario promedio en materiales de marketing AIGC que superó los 30 millones de RMB en el cuarto trimestre de 2024.
쿠아이쇼우 테크놀로지 (KSHTY)는 2024년 4분기 및 연간 강력한 재무 결과를 보고했습니다. 4분기 동안 총 수익은 전년 대비 8.7% 증가하여 354억 RMB에 달했으며, 온라인 마케팅 서비스가 58.3%, 라이브 스트리밍이 27.8%를 차지했습니다. 회사의 4분기 이익은 10% 증가하여 40억 RMB에 달했습니다.
2024년 전체 연도에 대해 수익은 11.8% 증가하여 1269억 RMB에 달했으며, 이익은 139.8% 급증하여 153억 RMB에 달했습니다. 플랫폼의 사용자 기반은 크게 확장되었으며, 4분기 평균 일일 활성 사용자(DAU)는 4억 1천만 명에 달해 전년 대비 4.8% 증가했습니다. 총 전자상거래 GMV는 4분기 동안 14.4% 증가하여 4621억 RMB에 달했습니다.
주목할 만한 성과로는 그들의 AI 비주얼 생성 모델인 Kling의 출시가 있으며, 이는 수익화가 시작된 이후 1억 RMB 이상의 수익을 창출했습니다. 회사의 AI 이니셔티브는 콘텐츠 추천 및 마케팅 효율성을 향상시켰으며, 2024년 4분기 AIGC 마케팅 자료에 대한 평균 일일 지출이 3000만 RMB를 초과했습니다.
Kuaishou Technology (KSHTY) a annoncé des résultats financiers solides pour le quatrième trimestre et l'année complète 2024. Au quatrième trimestre, le chiffre d'affaires total a augmenté de 8,7 % par rapport à l'année précédente, atteignant 35,4 milliards de RMB, les services de marketing en ligne représentant 58,3 % et le streaming en direct 27,8 %. Le bénéfice de l'entreprise a augmenté de 10 % au quatrième trimestre, atteignant 4,0 milliards de RMB.
Pour l'année complète 2024, le chiffre d'affaires a augmenté de 11,8 % pour atteindre 126,9 milliards de RMB, tandis que le bénéfice a bondi de 139,8 % pour atteindre 15,3 milliards de RMB. La base d'utilisateurs de la plateforme s'est considérablement élargie, avec une moyenne de 401,0 millions d'utilisateurs actifs quotidiens (DAU) au quatrième trimestre, en hausse de 4,8 % par rapport à l'année précédente. Le GMV total du commerce électronique a augmenté de 14,4 % pour atteindre 462,1 milliards de RMB au quatrième trimestre.
Parmi les réalisations notables figure le lancement de Kling, leur modèle de génération visuelle AI, qui a généré plus de 100 millions de RMB de revenus depuis le début de la monétisation. Les initiatives d'IA de l'entreprise ont amélioré les recommandations de contenu et l'efficacité marketing, avec des dépenses quotidiennes moyennes pour les matériaux marketing AIGC dépassant 30 millions de RMB au quatrième trimestre 2024.
Kuaishou Technology (KSHTY) hat starke Finanzergebnisse für das vierte Quartal und das Gesamtjahr 2024 gemeldet. Im vierten Quartal stiegen die Gesamteinnahmen im Jahresvergleich um 8,7% auf 35,4 Milliarden RMB, wobei die Online-Marketing-Dienste 58,3% und das Live-Streaming 27,8% ausmachten. Der Gewinn des Unternehmens stieg im vierten Quartal um 10% auf 4,0 Milliarden RMB.
Für das Gesamtjahr 2024 wuchsen die Einnahmen um 11,8% auf 126,9 Milliarden RMB, während der Gewinn um 139,8% auf 15,3 Milliarden RMB anstieg. Die Nutzerbasis der Plattform erweiterte sich erheblich, mit durchschnittlich 401,0 Millionen täglich aktiven Nutzern (DAUs) im vierten Quartal, was einem Anstieg von 4,8% im Jahresvergleich entspricht. Der gesamte GMV des E-Commerce stieg im vierten Quartal um 14,4% auf 462,1 Milliarden RMB.
Bemerkenswerte Erfolge sind der Start von Kling, ihrem KI-Visualisierungsmodell, das seit Beginn der Monetarisierung über 100 Millionen RMB an Einnahmen generiert hat. Die KI-Initiativen des Unternehmens haben die Inhaltsempfehlungen und die Marketingeffizienz verbessert, wobei die durchschnittlichen täglichen Ausgaben für AIGC-Marketingmaterialien im vierten Quartal 2024 30 Millionen RMB überstiegen.
- Strong profit growth of 139.8% YoY to RMB15.3 billion for full year 2024
- Significant user base expansion with DAUs reaching 401 million
- E-commerce GMV growth of 14.4% to RMB462.1 billion in Q4
- Online marketing services revenue increased 20.1% YoY
- Gross profit margin improved to 54.6% from 50.6% in 2023
- Successful monetization of Kling AI with RMB100+ million revenue
- Live streaming revenue declined 5.1% YoY to RMB37.1 billion in 2024
- Overseas segment still operating at a loss of RMB934 million
- Q4 revenue growth of 8.7% shows deceleration compared to full-year growth of 11.8%
Fourth Quarter 2024 Key Highlights
- Average DAUs on Kuaishou APP were 401.0 million, representing an increase of
4.8% from 382.5 million for the same period of 2023. - Average MAUs on Kuaishou APP were 735.6 million, representing an increase of
5.0% from 700.4 million for the same period of 2023. - Total e-commerce GMV(1) was
RMB462 .1 billion, representing an increase of14.4% fromRMB403.9 billion for the same period of 2023. - Total revenue increased by
8.7% toRMB35.4 billion fromRMB32.6 billion for the same period of 2023. Online marketing services and live streaming contributed58.3% and27.8% , respectively, to the total revenue. The other13.9% came from other services. - Gross profit increased by
10.6% toRMB19 .1 billion fromRMB17.3 billion for the same period of 2023. Gross profit margin in the fourth quarter of 2024 was54.0% , improving from53.1% for the same period of 2023. - Profit for the period increased by
10.0% toRMB4 .0 billion fromRMB3.6 billion for the same period of 2023. Adjusted net profit(2) increased toRMB4 .7 billion fromRMB4.4 billion for the same period of 2023. - Operating profit from the domestic segment(3) increased to RMB4.4 billion from
RMB4.3 billion for the same period of 2023. Operating loss from the overseas segment(3) decreased to RMB236 million by57.2% year-over-year.
Full Year 2024 Key Highlights
- Average DAUs on Kuaishou APP were 399.4 million, representing an increase of
5.1% from 379.9 million in 2023. - Average MAUs on Kuaishou APP were 709.7 million, representing an increase of
4.6% from 678.2 million in 2023. - Total e-commerce GMV(1) was
RMB1,389 .6 billion, representing an increase of17.3% fromRMB1,184.4 billion in 2023. - Total revenue increased by
11.8% toRMB126.9 billion fromRMB113 .5 billion in 2023. Online marketing services and live streaming contributed57.1% and29.2% , respectively, to the total revenue. The other13.7% came from other services. - Gross profit increased by
20.7% toRMB69 .3 billion fromRMB57 .4 billion in 2023. Gross profit margin was54.6% , improving from50.6% in 2023. - Profit for the year increased by
139.8% toRMB15 .3 billion from RMB6.4 billion in 2023. Adjusted net profit(2) increased toRMB17 .7 billion fromRMB10.3 billion in 2023. - Operating profit from the domestic segment(3) increased to RMB16.4 billion from
RMB11.4 billion in 2023. Operating loss from the overseas segment(3) decreased to RMB934 million by66.5% year-over-year.
Mr. Cheng Yixiao, Co-founder, Chairman, and Chief Executive Officer of Kuaishou, said, "In 2024, guided by our technology-driven, user-centric approach, we created greater value for both our users and partners while achieving strong financial results by leveraging AI technology to empower our content and business ecosystem. Our average DAUs reached an all-time high of over 400 million, providing a solid foundation for our steady financial growth. For the full year, total revenue grew
Fourth Quarter 2024 Financial Review
Revenue from our online marketing services increased by
Revenue from our live streaming business decreased by
Revenue from our other services increased by
Other Key Financial Information for the Fourth Quarter of 2024
Operating profit was
Adjusted EBITDA(4) was
Full Year 2024 Financial Review
Revenue from our online marketing services increased by
Revenue from our live streaming business decreased by
Revenue from our other services increased by
Other Key Financial Information for the Full Year of 2024
Operating profit was
Adjusted EBITDA(4) was
Total available funds(5) reached
Notes:
(1) Placed on or directed to our partners through our platform.
(2) We define "adjusted net profit" as profit for the year or period adjusted by share-based compensation expenses and net fair value changes on investments.
(3) Unallocated items include share-based compensation expenses, other income and other gains, net.
(4) We define "adjusted EBITDA" as adjusted net profit for the year or period adjusted by income tax expenses/(benefits), depreciation of property and equipment, depreciation of right-of-use assets, amortization of intangible assets, and finance income, net.
(5) Total available funds which we considered in cash management included but not limited to cash and cash equivalents, time deposits, financial assets and restricted cash. Financial assets mainly included wealth management products and others.
Business Review
Over the past year, guided by our technology-driven, user-centric business philosophy, we harnessed advanced artificial intelligence (AI) technology to empower our content and commercial ecosystem, creating greater value for both our users and business partners and achieving a robust financial performance. In the fourth quarter of 2024, our average DAUs remained above 400 million, and our total revenue grew by
As we head into the year of 2025, it has become increasingly evident that the ongoing advancements and breakthroughs in large models and application capabilities are pushing the boundaries of video content creation, user experience and broader commercial ecosystem. As a leading content community and social platform in
In the fourth quarter of 2024, we unveiled Kling (可靈) 1.6 model, an upgrade to our large video generation model. This latest version maintained our world-leading technological advantages while featuring enhanced responsiveness to text descriptions, such as motion, temporal actions and camera movements. It also notably improved visual quality in terms of style consistency, color accuracy, lighting dynamics and detailed rendering. In addition, we officially launched the standalone Kling AI (可靈AI) App in the fourth quarter of 2024, providing global users with multiple access points, including web page and standalone App. With the continuous improvements in its functionality, Kling AI's (可靈AI) user base has grown at an accelerated pace. Kling AI's (可靈AI) commercialization has also steadily gained momentum, reaching an important milestone of more than
In the fourth quarter of 2024, we continued to deepen the application of AI large models in our content and commercial ecosystems. Leveraging on large models' capacity to comprehend short video, live streaming, comments and user interests, we improved our content recommendation accuracy, increasing user time spent and user engagement. In terms of commercialization scenarios, AIGC's capabilities significantly boosted the efficiency of clients' marketing materials production. In the fourth quarter of 2024, average daily spending on AIGC marketing materials exceeded
User and content ecosystem
In the fourth quarter of 2024, the average DAUs on the Kuaishou App reached 401 million and MAUs reached 736 million, increasing by
In terms of feature optimization, we focused on improving end-to-end viewing experience for users, optimizing the resolution and ensuring smooth streaming. We have continuously enhanced the video sharing and communication experience while introducing various innovative features in private messaging, which drove daily average private messaging penetration rate up by nearly 5 percentage points year-over-year in the fourth quarter of 2024 among users with mutual followers. In comments scenarios, we refined the comment ranking strategy, resulting in a year-over-year increase of over
Content is the cornerstone of our thriving community. Understanding the reasons users open our App is central to our content strategy. Through targeted traffic distribution, we ensure that stand-out and high-quality contents featuring distinctive Kuaishou characteristics gain higher exposure. In the fourth quarter of 2024, content creator Da Bing's live streaming room emerged as a welcoming space for Kuaishou users to share their stories and interact with one another, strengthening heartfelt bonds between users and the content creator. In the pan-knowledge vertical, we partnered with Anwan Qin Opera Theater Troupe (安萬秦腔劇團) for offline tours and online live streaming, sparking widespread user engagement and discussions. The Troupe's New Year's Eve performance in
Online marketing services
In the fourth quarter of 2024, revenue from online marketing services grew by
In the fourth quarter of 2024, external marketing services continued to be primary driver of our online marketing services. In particular, the content-consumption industry, which included short plays, mini-games and novels, experienced faster growth. Notably, marketing spending from commercialized short plays surged more than three-fold year-over-year in the fourth quarter of 2024. On the product front, we upgraded the UAX placement solutions, transitioning from rule-based to model-based decision-making. As a result, UAX -based marketing spending accounted for over
In the fourth quarter of 2024, closed-loop marketing services continued to support e-commerce merchants in leveraging high-quality traffic on Kuaishou and boost operating efficiency. In the fourth quarter of 2024, total marketing spending by merchants using our omni-platform marketing solutions and smart hosting products contributed approximately
E-commerce
By leveraging our content-based scenarios and pan-shelf-based e-commerce advantages, our e-commerce GMV grew by
In the fourth quarter of 2024, merchants in Kuaishou's e-commerce ecosystem continued to thrive, with the number of average monthly active merchants increased by more than
In terms of the KOL business, we strengthened the platform's merchandise management capabilities through our Blockbusters Initiative (爆品計劃) , and broadened KOL's product offerings during sales promotion. Meanwhile, we further energized our content-based scenarios through diverse activities and marketing tools including KOL competition (達人PK賽) to motivate streamers. During the Double 11 Sales Promotion in 2024, more than 39 million users joined Group Buy for KOL followers (達人粉絲購物團), with over 2,500 live-streaming rooms achieving GMV exceeding
In terms of diversified scenarios, in the fourth quarter of 2024, short video e-commerce GMV grew by more than
Live streaming
In the fourth quarter of 2024, revenue from our live-streaming business was
Overseas
Regarding our overseas business, deeply rooted in
In the fourth quarter of 2024, our total overseas revenue maintained rapid growth of
Local services
In terms of our local services, GMV for local services was more than doubled year-over-year in the fourth quarter of 2024. We focused on city clusters with strong user base and consistently focused on meeting user needs by further optimizing price comparison capabilities and scenario applications, thereby enhancing a compelling value-for-money consumption experience to drive a
Business Outlook
As the new era of AI technology unfolds, we remain committed to advancing our AI strategy, aimed at becoming a leading AI-driven content platform. We will remain dedicated to our technology-driven, user-centric business philosophy, staying deeply attuned to users' needs, continuously expanding our content and product offerings and fostering our trust-based commercial ecosystem to create long-term value for our users, partners and Shareholders.
About Kuaishou
Kuaishou is a leading content community and social platform in
Forward-Looking Statements
Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "might", "can", "could", "will", "would", "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "plan", "seek", or "timetable". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include our business outlook, estimates of financial performance, forecast business plans, growth strategies and projections of anticipated trends in our industry. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, many of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in the future. Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this press release or those that might reflect the occurrence of unanticipated events.
For investor and media inquiries, please contact
Kuaishou Technology
Investor Relations
Email: ir@kuaishou.com
CONSOLIDATED INCOME STATEMENT | ||||||||||
Unaudited | Audited | |||||||||
Three Months Ended | Year Ended | |||||||||
December 31, 2024 | September 30, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | ||||||
RMB'Million | RMB'Million | RMB'Million | RMB'Million | RMB'Million | ||||||
Revenues | 35,384 | 31,131 | 32,561 | 126,898 | 113,470 | |||||
Cost of revenues | (16,261) | (14,217) | (15,269) | (57,606) | (56,079) | |||||
Gross profit | 19,123 | 16,914 | 17,292 | 69,292 | 57,391 | |||||
Selling and marketing expenses | (11,317) | (10,364) | (10,198) | (41,105) | (36,496) | |||||
Administrative expenses | (866) | (796) | (752) | (2,916) | (3,514) | |||||
Research and development expenses | (3,451) | (3,100) | (3,296) | (12,199) | (12,338) | |||||
Other income | 187 | 194 | 379 | 533 | 978 | |||||
Other gains, net | 592 | 271 | 197 | 1,682 | 410 | |||||
Operating profit | 4,268 | 3,119 | 3,622 | 15,287 | 6,431 | |||||
Finance income, net | 19 | 37 | 135 | 236 | 539 | |||||
Share of losses of investments | (1) | (6) | (23) | (29) | (81) | |||||
Profit before income tax | 4,286 | 3,150 | 3,734 | 15,494 | 6,889 | |||||
Income tax (expenses)/benefits | (312) | 120 | (122) | (150) | (490) | |||||
Profit for the period | 3,974 | 3,270 | 3,612 | 15,344 | 6,399 | |||||
Attributable to: | ||||||||||
— Equity holders of the Company | 3,969 | 3,268 | 3,608 | 15,335 | 6,396 | |||||
— Non-controlling interests | 5 | 2 | 4 | 9 | 3 | |||||
3,974 | 3,270 | 3,612 | 15,344 | 6,399 | ||||||
CONSOLIDATED BALANCE SHEET | ||||
Audited | Audited | |||
As of December 31, | As of December 31, 2023 | |||
RMB'Million | RMB'Million | |||
ASSETS | ||||
Non-current assets | ||||
Property and equipment | 14,831 | 12,356 | ||
Right-of-use assets | 8,891 | 10,399 | ||
Intangible assets | 1,059 | 1,073 | ||
Investments accounted for using the equity method | 166 | 214 | ||
Financial assets at fair value through profit or loss | 24,430 | 5,245 | ||
Other financial assets at amortized cost | 62 | 283 | ||
Deferred tax assets | 6,604 | 6,108 | ||
Long-term time deposits | 19,856 | 9,765 | ||
Other non-current assets | 1,105 | 492 | ||
77,004 | 45,935 | |||
Current assets | ||||
Trade receivables | 6,674 | 6,457 | ||
Prepayments, other receivables and other current assets | 4,646 | 4,919 | ||
Financial assets at fair value through profit or loss | 27,050 | 25,128 | ||
Other financial assets at amortized cost | 233 | 950 | ||
Short-term time deposits | 11,522 | 9,874 | ||
Restricted cash | 47 | 128 | ||
Cash and cash equivalents | 12,697 | 12,905 | ||
62,869 | 60,361 | |||
Total assets | 139,873 | 106,296 |
CONSOLIDATED BALANCE SHEET | ||||
Audited | Audited | |||
As of December 31, | As of December 31, 2023 | |||
RMB'Million | RMB'Million | |||
EQUITY AND LIABILITIES | ||||
Equity attributable to equity holders of the Company | ||||
Share capital | - | - | ||
Share premium | 268,733 | 273,459 | ||
Treasury shares | (341) | (88) | ||
Other reserves | 35,776 | 33,183 | ||
Accumulated losses | (242,164) | (257,491) | ||
62,004 | 49,063 | |||
Non-controlling interests | 20 | 11 | ||
Total equity | 62,024 | 49,074 | ||
LIABILITIES | ||||
Non-current liabilities | ||||
Borrowings | 11,100 | - | ||
Financial liabilities at fair value through profit or loss | 124 | - | ||
Lease liabilities | 6,765 | 8,405 | ||
Deferred tax liabilities | 13 | 18 | ||
Other non-current liabilities | 19 | 21 | ||
18,021 | 8,444 | |||
Current liabilities | ||||
Accounts payables | 27,470 | 23,601 | ||
Other payables and accruals | 23,113 | 16,592 | ||
Advances from customers | 4,696 | 4,036 | ||
Financial liabilities at fair value through profit or loss | 5 | - | ||
Income tax liabilities | 873 | 1,222 | ||
Lease liabilities | 3,671 | 3,327 | ||
59,828 | 48,778 | |||
Total liabilities | 77,849 | 57,222 | ||
Total equity and liabilities | 139,873 | 106,296 |
Financial Information by Segment | ||||||||||||
Unaudited Three Months Ended | ||||||||||||
December 31, 2024 | September 30, 2024 | December 31, 2023 | ||||||||||
Domestic | Overseas | Unallocated | Total | Domestic | Overseas | Unallocated | Total | Domestic | Overseas | Unallocated | Total | |
RMB'Million | RMB'Million | RMB'Million | ||||||||||
Revenues | 34,089 | 1,295 | - | 35,384 | 29,800 | 1,331 | - | 31,131 | 31,714 | 847 | - | 32,561 |
Operating profit/(loss) | 4,361 | (236) | 143 | 4,268 | 3,505 | (153) | (233) | 3,119 | 4,250 | (551) | (77) | 3,622 |
Audited Year Ended December 31, | ||||||||||||
2024 | 2023 | |||||||||||
Domestic | Overseas | Unallocated | Total | Domestic | Overseas | Unallocated | Total | |||||
RMB'Million | RMB'Million | |||||||||||
Revenues | 122,202 | 4,696 | - | 126,898 | 111,186 | 2,284 | - | 113,470 | ||||
Operating profit/(loss) | 16,355 | (934) | (134) | 15,287 | 11,402 | (2,789) | (2,182) | 6,431 | ||||
Reconciliation of Non-IFRS Accounting Standards Measures to the Nearest IFRS Accounting | |||||||||
Unaudited | Unaudited | ||||||||
Three Months Ended | Year Ended | ||||||||
December 31, | September 30, | December 31, | December 31, | December 31, | |||||
2024 | 2024 | 2023 | 2024 | 2023 | |||||
RMB'Million | RMB'Million | RMB'Million | RMB'Million | RMB'Million | |||||
Profit for the period | 3,974 | 3,270 | 3,612 | 15,344 | 6,399 | ||||
Adjusted for: | |||||||||
Share-based compensation expenses | 636 | 698 | 653 | 2,349 | 3,570 | ||||
Net fair value changes on | 91 | (20) | 97 | 23 | 302 | ||||
Adjusted net profit | 4,701 | 3,948 | 4,362 | 17,716 | 10,271 | ||||
Adjusted net profit | 4,701 | 3,948 | 4,362 | 17,716 | 10,271 | ||||
Adjusted for: | |||||||||
Income tax expenses/(benefits) | 312 | (120) | 122 | 150 | 490 | ||||
Depreciation of property and | 1,093 | 997 | 1,018 | 4,064 | 3,989 | ||||
Depreciation of right-of-use assets | 756 | 765 | 732 | 2,972 | 3,065 | ||||
Amortization of intangible assets | 26 | 25 | 33 | 104 | 148 | ||||
Finance income, net | (19) | (37) | (135) | (236) | (539) | ||||
Adjusted EBITDA | 6,869 | 5,578 | 6,132 | 24,770 | 17,424 | ||||
Note: | |||||||||
(1) Net fair value changes on investments represents net fair value (gains)/losses on financial assets at fair value | |||||||||
View original content:https://www.prnewswire.com/news-releases/kuaishou-technology-announces-fourth-quarter-and-full-year-2024-financial-results-302410401.html
SOURCE Kuaishou Technology
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