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24/05/2021 17:29

Kuaishou Technology (01024) 1Q loss widens to RMB57.75bn

[ET Net News Agency, 24 May 2021] Kuaishou Technology (01024) said its loss for the
first quarter of 2021 ended 31 March 2021 widened to RMB57,751 million, compared to
RMB30,491 million for the same period of 2020.
For non-IFRS measures, its adjusted net loss amounted to RMB4,918 million, compared to
RMB4,345 million for the same period of 2020. The adjusted EBITDA was RMB4,197 million,
compared to RMB3,718 million for the same period of 2020.
Total revenues increased by 36.6% to RMB17 billion from RMB12.5 billion for the same
period of 2020. Among the total revenues, online marketing services increased by 161.5% to
RMB8.6 billion from RMB3.3 billion for the same period of 2020.
Gross profit increased by 64.1% to RMB7 billion from RMB4.3 billion for the same period
of 2020. The gross profit margin for 1Q increased to 41.1% from 34.2% in the same time of
2020. (KL)

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