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<Research>Citi: KUAISHOU-W Spinoff of 'Kling' with Aggressive Valuation; Rating Buy Kept
Recommend 66 Positive 79 Negative 50 |
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Citi noted media coverage that KUAISHOU-W (01024.HK) plans to spin off its AI video generation unit "Kling" and target an IPO next year. KUAISHOU-W reportedly held discussions with potential investors regarding pre-IPO financing for "Kling" in pursuit of a valuation of USD20 billion, based on a targeted ARR of approximately USD1.3 billion in 1Q27. The broker was unsurprised by the unconfirmed reports, believing that a spinoff could unlock the value of "Kling" and help explain last week's sharp share price rally, since the company is an industry bellwether amid strong market sentiment toward AI stocks. However, Citi viewed the 1Q27 ARR target of USD1.3 billion as aggressive, compared with around USD300 million ARR in January 2026. Citi set a TP of HKD72 on KUAISHOU-W and maintained its Buy rating. 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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