BeijingKuaishou’s AI video unit Kling raised about 19.8 billion yuan.
A private mark of $18 billion now exceeds the group’s Hong Kong market value.
Kling’s quarterly revenue rose from over 650 million yuan to over 850 million, while group revenue grew 1.4%.
Kling supplies about 2% of first-half group sales, and filings show its net losses widened in 2024 and 2025.
Industry reporting puts break-even in 2028, if compute costs fall and volume absorbs fixed costs.
How each outlet framed it
- TMTPost
- reads the Kling valuation as a split in capital scoring: private investors pay for AI video while public markets mark Kuaishou's short-video base, with Kling's 120bn-yuan valuation above the parent's sub-100bn market value
Sources: TMTPost