On September 9, KUAISHOU-W fell 3.09% in regular trading to HK$32.02, with turnover of HK$1.081 billion, approaching the near-four-year low set in late August.

The decline was driven by a combination of underwhelming Q2 results and continued institutional outflows. The company's Q2 revenue came in at RMB 35.535 billion, up only 1.4% year-over-year, while adjusted net profit fell 30.3% to RMB 3.913 billion. Gross margin contracted from 55.7% to 51.6%. On the institutional front, BlackRock reduced its long position to 4.99% in late August, while UBS Group AG also trimmed its stake to 7.87% after selling approximately 8.8 million shares at an average price of HK$33.81. Morgan Stanley had previously downgraded the stock to Equal-weight, cutting its target price to HK$40.

Notably, the company has maintained a steady buyback program, repurchasing roughly HK$15 million worth of shares daily throughout early September, though this has not stemmed the broader selling pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)