On March 29, Kuaishou Technology released its first annual report after restructuring. Data shows that Kuaishou’s annual revenue reached 81.08 billion yuan, a year-on-year increase of 37.9%; the year’s loss was 78.077 billion yuan, a year-on-year decrease of 33.1%; the adjusted net loss was 18.852 billion yuan.
According to the financial report, Kuaishou’s revenue sources in 2021 are mainly composed of online marketing services, live broadcasts and other services. Among them, online marketing service revenue increased by 95.2% year-on-year to 42.7 billion yuan in 2021. Other service revenue was 7.4 billion yuan, a year-on-year increase of 99.9%; while live broadcast revenue decreased by 6.7% year-on-year from 33.2 billion yuan in 2020 to 31 billion yuan in 2021. At the same time, the proportion of live broadcast revenue to total revenue will drop from 56.5% in 2020 to 38.2% in 2021.
In September last year, Kuaishou launched a new round of organizational structure adjustment. After this round of structural adjustment, the closed-loop e-commerce business was basically realized. Closed-loop e-commerce has become the main driver of Kuaishou e-commerce revenue growth. In 2021, Kuaishou will gradually cut off third-party external chains such as Youzan, JD.com and Taobao, and the closed-loop e-commerce Kuaishou Store will contribute 98.8% of the total e-commerce transactions.
From the overall effect, Kuaishou’s DAU (average daily active users) in the fourth quarter reached 323 million, a year-on-year increase of 19.2%, and MAU (average monthly active users) increased by 21.5% year-on-year to 578 million, an annual increase of over 100 million. However, the overall revenue growth has slowed down. From 2019 to 2022, Kuaishou’s revenue increased by 92.7%, 50.24%, and 37.9% year-on-year, showing a clear downward trend. Expanded by 139.7%. Jin Bing said at the financial report meeting that in 2022, it will further reduce costs and increase efficiency, increase the proportion of revenue from high-margin businesses such as advertising, and raise the overall gross margin level.
Kuaishou stated in the financial report that the focus of future attention and investment will be on private domain advantages; developing differentiated content; optimizing algorithms to increase platform user consumption; and continuing to expand application scenarios to enrich community supply.
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