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<Research>Haitong Intl: KUAISHOU-W (01024.HK) Shares May Reach HKD84 If Kling Is Spun Off
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Recent market discussions about the potential spin-off of Kling by KUAISHOU-W (01024.HK) have shored its share price up by about 20% between May 5 and 8, Haitong International said in its report. The broker estimated the likelihood of a future spin-off is relatively high. The broker cited four reasons: Kling may be undervalued amid slowing growth in KUAISHOU's core business; a spin-off could broaden Kling's financing channels and ease KUAISHOU's own AI capex burden, especially as peers ramp up AI investment; reduced capex pressure would support a valuation recovery of KUAISHOU's traditional businesses; and the spin-off would help retain top talent. Under the assumption of a ring-fence listing, Haitong International expected KUAISHOU's share price could reach HKD84. If the spin-off listing is implemented this year, Haitong International estimated KUAISHOU's overall valuation would whop HKD368.6 billion. Risk factors include macro weakness, acute competition, regulatory risks facing short-video platforms, and potential delays or rejection of Kling's spin-off listing plan. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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