Kuaishou Technology (5Y0.F,1024.HK), a Chinese technology company, reported on Wednesday lower profit for the first quarter of 2026, attributable to higher expenses, particularly in Research & Development and marketing. However, revenues increased from last year.
The net profit for the period attributable to equity holders went down to RMB2.90 billion from RMB3.98 billion in the same quarter in 2025. Earnings per share dropped to RMB0.66 from RMB 0.91 a year ago.
The adjusted net profit for the first quarter was RMB3.37 billion, compared with RMB4.58 billion last year.
The adjusted EBITDA for the first quarter went down 3.2 percent to RMB6.23 billion from RMB6.43 billion the previous year.
The total revenue was RMB33.72 billion, a growth of 3.4 percent from RMB32.61 billion in 2025. The higher revenue was mainly attributable to the growth of the company's online marketing services and Kling AI business.
On the Hong Kong stock exchange, the stocks closed on Wednesday 1.14 percent lower at HK$45.28.
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