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Kuaishou plans to reorganize the video generation model with LingAI, expecting annual revenue exceeding $300 million
[Caixin] On the afternoon of May 12, Kuaishou (01024.HK) released a voluntary announcement stating that in order to further utilize external financial resources, the company’s board of directors is evaluating a proposed restructuring plan for KeLing AI’s related assets and businesses, which may involve introducing external financing.
Kuaishou’s announcement is a response to media reports on May 11. On May 11, U.S. media The Information reported that Kuaishou plans to spin off KeLing and seek an independent listing, aiming for financing at a total valuation of $20 billion.
In the early trading hours of May 12, Kuaishou’s stock price surged over 5% intraday. By the midday market close, the stock price had increased by 3.49%, to HKD 53.4 per share, with a total market capitalization of HKD 232.1 billion (approximately USD 29.66B).