Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

TRENDING
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Tencent Posts 35% Profit Rise on Reviving Game Releases
LATEST
Cathay Pacific CEO Hogg Resigns Amid Hong Kong Protests
Ninebot’s New Scooter Can Drive Itself Back to Charging Stations
Oppo to Unveil New Smartphone With 20x Zoom
Chinese Companies Usher in Age of Synthetic Meat
Record-Smashing Chinese Animation to Get Overseas Releases
WTO to Arbitrate China’s Complaints About U.S. Solar-Cell Tariffs
Vipshop Stock Soars After Q2 Results Beat Expectations
Japan Replaces China as Largest Holder of U.S. Government Debt
Huawei’s First 5G Commercial Phone Gets Warm Response Despite Limited Networks
AI Startup Plans IPO at Value of at Least $1 Billion — in China
Alibaba Q2 Revenue Jumps 42%, Beating Estimates But Slower Than Year Earlier
Baidu’s $66 Billion Dive Knocks It Out of China’s Internet Top 5
Beijing Grants Foreign Investors Wider Access to Entertainment Industry
Tencent-Backed Maoyan Turns Profit on Strong Ad Growth
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese Internet Sector Grows 17.9% Year-on-Year: MIIT
Xiaomi Receives Licenses for Second 5G Phone
Coal Industry Looks to Robots for Increased Safety
No Investor Love for Tencent, Lenovo and Luckin in Latest Reports
TikTok Rival Kuaishou Targets Higher Annual Ad Revenues

By Zhao Runhua and Liu Shuangshuang / Jul 17, 2019 04:23 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Online short-video platform Beijing Kuaishou Technology said Tuesday that it is increasing its target annual advertising revenue by 50% to 15 billion yuan ($2.18 billion).

The company, whose snappy, user-generated clips make it a major competitor to the ByteDance-owned TikTok, declined to reveal how much advertising revenue it had earned so far this year or provide further details on the statement, saying only that its operations were running “smoothly.”

Markets reacted with curiosity to an announcement that hints at Kuaishou’s resurgent confidence despite a slowing national economy and previous government restrictions on the platform’s content.

When asked about the performance or earnings goals of Kuaishou’s newly established e-commerce unit, which allows livestreamers to sell products through the company’s in-app store, a spokesperson told Caixin that there were no specific operation targets in the short run. Kuaishou aims to first understand the unit’s community and user habits first, the spokesperson added.

Related: Short-Video Apps’ Revenue Grows 745%

Contact reporter Zhao Runhua (runhuazhao@caixin.com)


Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.