External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Kuaishou announced 1Q26 results: total revenue was up by 3% YoY to RMB33.7bn, largely in line with Bloomberg consensus estimate.</li><li>During the period, adjusted net profit declined by 26% YoY to RMB3.37bn, mainly due to the increase in AI-related investment, but 11% ahead of the consensus estimate mainly due to higher-than-expected other income/gains.</li><li>Kling AI maintained strong monetization momentum, with 1Q26 revenue up by over 300% YoY to RMB650mn. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Kuaishou announced 1Q26 results: total revenue was up by 3% YoY to RMB33.7bn, largely in line with Bloomberg consensus estimate.During the period, adjusted net profit declined by 26% YoY to RMB3.37bn, mainly due to the increase in AI-related investment, but 11% ahead of the consensus estimate mainly due to higher-than-expected other income/gains.Kling AI maintained strong monetization momentum, with 1Q26 revenue up by over 300% YoY to RMB650mn. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Kuaishou (1024 HK) - 1Q26 Review: Kling AI Maintained Strong Monetization Momentum

Kuaishou Technology

Kuaishou (1024 HK) - 1Q26 Review: Kling AI Maintained Strong Monetization Momentum