On August 20, KUAISHOU-W fell 11.06% in regular trading, trading at 33.96 HKD/share, with turnover of HKD 1.551 billion.

On the news front, the company released Q2 earnings after market close on the previous trading day, triggering heavy selling. Total revenue came in at RMB 35.535 billion, up only 1.4% year-over-year. Adjusted net profit was RMB 3.913 billion, down 30.3% year-over-year, while gross margin fell 4.1 percentage points to 51.6%. Although Kling AI generated over RMB 850 million in quarterly revenue with growth exceeding 200%, heavy R&D investment significantly eroded profitability.

Compounding concerns, core Kling AI R&D personnel Wang Meng and Wang Xintao recently resigned, marking the third key technical leader to depart within less than a year. The market fears that the talent drain could slow model iteration and undermine the AI business valuation premium. The combination of decelerating legacy business growth, margin pressure from AI investment, and earnings missing expectations sparked concentrated selling.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)