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<Research>Nomura Chops Earnings Forecasts for KUAISHOU-W, Concerned About Commission Cuts by Livestream E-commerce Rivals & New Competitors
Recommend 14 Positive 31 Negative 11 |
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Nomura has issued a report reducing its 2025-26 non-IFRS net profit forecasts for KUAISHOU-W (01024.HK) by 6% each to reflect the company's increased investment in AI. The broker reiterated a Neutral rating on the company, with a target price raised from $50 to $55. As indicated by Nomura, KUAISHOU-W predicted a 10% revenue growth for 1Q25, which was 1% lower than market expectations. The broker estimated that weak monetization in the e-commerce business might drag down the company's revenue growth. According to a recent conference call with Douyin e-commerce experts, Douyin, as KUAISHOU-W's biggest competitor, may be reducing commission rates for its merchants, which may further suppress KUAISHOU-W's e-commerce monetization capabilities. In addition, the entry of TENCENT (00700.HK)'s Video Account and RedNote into livestream e-commerce may also add competitive pressure to an already saturated industry. AAStocks Financial News |
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