After the Hong Kong stock market on November 21, Fast Hand Technology (hereinafter referred to as "Fast Hand") released its third quarter results for the period ended September 30.。

Data show that the total revenue of the third quarter of the fast hand increased by 20.8% to 279.4.8 billion yuan (RMB, the same below), adjusted net profit of 31.7.3 billion yuan, a loss of 6.7.2 billion yuan。Gross margin also improved further during the period, from 46 in the same period last year..3% to 51.7%; adjusted EBITDA recorded 49.800 million yuan, compared with 10 in the same period last year..2.3 billion yuan, up 386.8%。

In response to these results, Kuaishou said in its earnings report: "In the third quarter of 2023, we continued to drive healthy and sustainable operational growth, expanding the size of our users, content creators, marketing customers and merchants.。In the ecosystem, more business scenarios have been integrated, operational efficiency has been optimized, and each business has been significantly improved, resulting in excellent financial growth.。"

                                     

Core business strong, Q3 to achieve performance sprint

                                     

Third quarter 2023, Kuaishou's core business revenue is encouraging。It is understood that the third quarter revenue source of fast hand mainly consists of online marketing services, live broadcast and other services including e-commerce.。

In terms of business structure, the proportion of online marketing services and other services where e-commerce is located continues to increase, especially as online marketing services accounted for nearly 53% of revenue in the quarter, while other services, including e-commerce, accounted for about 13%, and live streaming business declined to less than 35%.。

Among them, online marketing services revenue increased by 26.7% to 14.7 billion yuan, accounting for 52% of total revenue.6%; live broadcast business revenue of 9.7 billion yuan, up 8.6%, or 34% of total revenue.7%; other services revenue was $3.5 billion, up 36% from the same period last year..6%。

                                     

Content wins, users are king

                                     

According to the data, the average daily active user in the third quarter was 3.8.7 billion, a new high; average online marketing services revenue of $38 per active user per day。In addition, the number of active marketing customers increased by more than 140% year-on-year.。

During the period, Kuaishou increased its support for high-quality original content, encouraged the construction of diversified content categories, and successfully created high-quality content with Kuaishou characteristics; with its efficient user growth strategy and continuously optimized algorithms, it achieved high-quality growth in user scale and platform traffic.。

The results for the quarter were driven by growth in our core business revenue and continued improvement in ROI, as well as our strategic focus on operational efficiency.。"At the same time, Kuaishou also said that it will continue to increase support for high-quality content, integrate more profit opportunities in different user scenarios, and enrich the Kuaishou ecosystem with technology and content."。

Recently, the concept of short drama burst into flames, fast hand in the summer file a total of 85 "Star Mang Project" short drama, of which the number of short drama broadcast volume of more than 100 million reached 21, covering a variety of themes; in the third quarter, "Star Mang Project" short drama investment revenue increased by more than 10 times。In terms of attracting new users, Kuaishou has held high-quality hanging activities such as "Summer Star Wish Party," and strengthened the channel delivery of native content, which has achieved better user retention.。

Not only that, Kuaishou also reaches young user groups through live broadcast of public welfare courses in colleges and universities, and is committed to creating a differentiated social platform.。As of the end of the third quarter of 2023, the number of fast-hand application interrelated users reached 32.2 billion, up nearly 40% year-on-year.。In addition, the total number of average daily interactions (including likes, comments, retweets and private messages) in the third quarter of 2023 exceeded 9 billion.。

As the copyright broadcasting and short video sharing platform of the 19th Hangzhou Asian Games, Kuaishou also provides users with a panoramic view of the Asian Games with rich content, innovative interactive experience and cutting-edge live broadcast technology。During the Asian Games, the average daily user watching Asian Games-related content reached 2.300 million, with 53.1 billion video views。

                                     

Guild system is more sophisticated, anchor support more professional

                                     

The increase in revenue from the live broadcast business in the third quarter was due to the expansion of the supply of high-quality live broadcast, the improvement of user experience, and the continuous optimization of the live broadcast ecosystem.。

On the supply side, Kuaishou has built a regional guild operation system to enhance the degree of operational refinement, help improve the guild's internal operating capacity, and drive the supply of high-quality content for anchors and small and medium-sized anchors.。In the third quarter of 2023, the number of guild contracted anchors increased by more than 40% year-on-year, and the average daily live broadcast duration of anchors increased by nearly 30% year-on-year.。

At the same time, the fast hand also continues to expand the diversified supply, relying on entertainment live scene development and innovation tools, through the live broadcast open platform to introduce high-quality developers, reduce the threshold of the anchor broadcast; combined with the industry ecology inside and outside the station, improve the supply of "Miyagi" multi-person live broadcast, to provide more high-quality content.。

In terms of ecological construction, the financial report said, fast hand continued to promote the continuous promotion of high-quality content hanging class and anchor training.。In September this year, the company launched the "National Art Heritage Plan," for the whole station Quyi, folk music, folk skills and other categories of anchors, through tens of millions of traffic support and professional training, continue to create a fast-track traditional cultural IP symbols.。

                                     

E-commerce platform continues to optimize, buyers and sellers seek win-win situation

                                     

Financial data show that the total amount of e-commerce transactions (GMV) in the third quarter of the fast hand to achieve 290.2 billion yuan, an increase of 30.4%, the average monthly sales of merchants increased by about 50% year-on-year。This growth is mainly due to the refinement of the fast-hand operating model, which increases the activity of merchants and the conversion rate of buyers, thus driving the growth of GMV.。

In the third quarter, the performance of fast players in terms of brands and pan-shelves was more eye-catching, including fast brands, including the proportion of branded goods GMV further increased year-on-year, of which well-known brands self-broadcast GMV increased by nearly 90% year-on-year.。And pan-shelf GMV accounted for nearly 20% of the total GMV。

It is reported that in terms of brand, Kuaishou has expanded a number of channels, so that the brand traffic is increasing day by day, the number of rapid growth; the use of projects such as the "Sichuan Flow Plan" to enhance platform traffic; and create a number of distinctive marketing IP, optimize the conversion rate of users.。

The off-season growth of GMV also benefited from the continuous abundant supply and ecological optimization of Kuaishou.。During the period, Kuaishou implemented the hierarchical operation system of merchants, and continued to pay attention to the growth of the waist and long tail of the platform, improve the distribution library, and carry out hierarchical operation of the people.。As a result, the supply side, together with the ecological side, has leveraged huge user demand.。

This year's "Double 11" promotion has just passed, and the GMV and order volume of fast players have reached record highs, with a one-day peak of record。According to statistics, nearly 100 million fast-track consumers and more than 1 million merchants and talents participated in the promotion, the full-cycle order volume increased by nearly 50%, small and medium-sized merchants GMV increased by 75% year-on-year, brand GMV increased by 155% year-on-year.。

                                     

Multiple large models landing, digital innovation prospects open

                                     

In July this year, Kuaishou completed the construction of the first phase of the free data center - Kuaishou Intelligent Cloud Data Center - in Wulanchabu, Inner Mongolia.。As one of the largest big data and artificial intelligence data centers in China, it can accommodate 300,000 servers, thus improving server and bandwidth utilization and supporting the company's rapid business growth.。

In the search business, Kuaishou launched the AI dialogue function, becoming the first intelligent question-and-answer product based on the large language model (LLM) in China's short video and live broadcast industry, enhancing users' intelligent search experience.。During the quarter, the average daily total number of searches by fast players exceeded 600 million, with a peak of 700 million.。In addition, the service's ability to monetize its commercialization has been greatly enhanced, and search marketing revenue is also reported to have grown by more than 120% year-over-year.。

On the other hand, the innovation lies in the fact that Kuaishou relies on the large model of Wenshengtu to enable users to generate massive images with one click, accelerate the landing of artificial intelligence generated content (AIGC) scenarios, and improve the efficiency of business innovation exploration while reducing labor and time costs.。

On the commercial scene side, the company's large model is also more and more widely used in marketing material, creative short video material generation, "quick hire," real estate live digital human broadcast and interactive dialogue and other scenarios.。

Cheng Yixiao, founder and CEO of Kuaishou Technology, said: "Kuaishou launched a new AI strategy at the beginning of this year and specified clear strategic goals, striving to bring business leadership through independent disruptive technological innovation.。At present, Kuaishou's Kuaiyi 13 billion and 66 billion models have reached the leading level of the same scale in the industry, and have also begun the development of over 100 billion large-scale language models and multi-modal large-scale models.。"

In the future, Kuaishou will further promote internal innovation and explore new growth opportunities, shape the industry landscape, and enhance the capabilities of content creators, marketing customers and merchants, thereby consolidating its position as the industry's leading content community and social platform, and becoming the industry leader in digital innovation.。