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<Result Ann>KUAISHOU 2022 Adj. Net Loss Trims to RMB5.75B
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KUAISHOU-W (01024.HK) announced its annual results for the year ended December last year, with turnover of RMB94.183 billion, up 16.2% year-over-year. Loss narrowed to RMB13.691 billion, compared to a loss of RMB78.074 billion in 2021, giving a loss of RMB3.22 per share. No dividend was paid.

Adjusted net loss on a non-IFRS basis narrowed to RMB5.751 billion during the period, compared to an adjusted net loss of RMB18.852 billion in 2021. Adjusted EBITDA loss turned into profit of RMB1.815 billion, compared to a loss of RMB12.953 billion in 2021.

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In the fourth quarter alone, revenue was RMB28.292 billion, up 15.8% year-over-year. Loss narrowed to RMB1.547 billion, compared to a loss of RMB6.203 billion in 2021. Adjusted net loss on a non-IFRS basis narrowed to RMB45.322 million, compared to a loss of RMB3.569 billion in 2021. Adjusted EBITDA loss turned into profit of RMB1.936 billion, compared with a loss of RMB1.29 billion in 2021.

The company said that total e-commerce transactions increased by 30% year-over-year in the fourth quarter of 2022, driving the company to achieve a full-year e-commerce transaction volume of over RMB900 billion.

In addition, the average daily active users and average monthly active users of the Kuaishou app reached a record high of 366.2 million and 640 million respectively in the fourth quarter of 2022, representing year-on-year growth of 13.3% and 10.7% respectively.
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