0432 GMT - Kuaishou Technology may need a new growth engine as its e-commerce business slows, Nomura analysts say in a research note. China's livestreaming e-commerce industry is likely saturated after years of significant growth, the analysts say. Stagnating traffic growth at China's top two short-video apps, Douyin and Kuaishou, could limit their ability to grow audiences for their livestreaming service, they say. Livestreaming e-commerce's appeal could be also be waning as competitors like Alibaba step up price pressures, they add. Kuaishou's 3Q ads strength was driven mainly by the fad of short plays, and the analysts doubt this can be sustained given the plays' monotonous storylines. Nomura maintains a neutral call on Kuaishou, but raises its target to HK$50.00 from HK$45.00 on overall 3Q earnings strength. Shares last at HK$45.20. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
November 21, 2024 23:32 ET (04:32 GMT)
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