Kuaishou: Currently evaluating proposals for the proposed restructuring of LingAI's related assets and businesses, no final agreements have been signed yet.

On May 12, Kuaishou announced on the Hong Kong Stock Exchange that the company has noted media reports that, on May 11, 2026, the company intends to obtain external financing in relation to the assets and business related to its KeLing AI within the Group and has proposed a separate listing. The company hereby provides an update to its shareholders and investors. To further utilize external financial resources, the board of directors of the company is evaluating proposed plans for the restructuring of the assets and business related to KeLing AI, which may involve the introduction of external financing. As of the date of this announcement, the above proposed plans are still at a preliminary stage, and the company has not entered into any final agreements in relation to this matter. No assurance can be given that such proposed plans will proceed.

Previously, market news stated that Kuaishou plans to spin off its video generation large-model business, KeLing AI, to initiate financing at a valuation of US$20 billion, with a proposed financing amount of approximately US$2 billion, and that it is currently in discussions with investors including Tencent.