华泰金融(HK)10月22日发布公告。We recently attended the Kuaishou Investor Day, and have seen significant LLM progress, with enhanced content generation and recommendations. Key updates include: 1) KwaiYii model introduction, with improved content comprehension and automation, reducing data labeling dependencies; 2) ACT model debut to boost user engagement, with higher efficiency than the prior Sim model; 3) upgraded Kling platform, featuring advanced semantic response and new motion brush functions. Looking to 2024-2026, we maintain our adjusted net profit forecasts of RMB17.6/23.8/29bn and our SOTP target price at HKD64.86. Maintain BUY.
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