0427 GMT - Kuaishou's e-commerce business will likely continue to face challenges including cautious consumer spending, profitability of merchants and the platform's sustainability, Nomura analysts write in a note. The company's GMV growth fell below 20% on year for the first time in 2Q, they say. Given weak consumption sentiment and fierce competition in the e-commerce industry, the management expects the challenges to continue, the analysts note. But if more key opinion leaders and merchants joined the platform, the company's content and consumer engagement could get a boost, they say. While industry headwinds remain, Kuaishou's e-commerce business looks to have ample room to grow given its low penetration rate compared with rival Douyin. Nomura keeps a neutral rating on the stock. Shares are last at HK$39.10. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
September 16, 2024 00:27 ET (04:27 GMT)
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