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Physix Frontier · News Briefing Card (TMTPost · Oct 16, 2026)

Kuaishou Hits Record Low as Kling Eyes $18B Valuation, 2027 HK IPO

KEY FACTS

  • On October 13, Kuaishou's intraday share price fell to HK$28.24, a record low since its listing.
  • Kling completed a funding round of about $3 billion, with a post-money valuation approaching $18 billion.
  • Kling has selected underwriters for a Hong Kong IPO as early as 2027.
  • On September 30, Kuaishou announced that Yu Yue will serve as Kling's full-time CEO, while Cheng Yixiao takes over the community science line.
  • Kling plans an employee incentive pool of no more than 15%, which will dilute Kuaishou's stake to about 68.33%.

KEY DATA

HK$28.24Kuaishou intraday low share price
about $18 billionKling post-money valuation
about $3 billionKling current funding round amount
about 68.33%Kuaishou shareholding (after dilution)

PHYSIX OBSERVATION

Kling's valuation is already nearly 1.1 times Kuaishou's market cap, and the market is pricing the AI asset separately from the parent. Kuaishou's Q2 revenue grew only 1.4% and profit fell by a third; its original business is weak, and Kling has become the only growth engine. If spun off and listed, investors can buy Kling directly, and what the Kuaishou parent relies on to retain valuation is a question management must answer.

Source: TMTPost report