On November 22,格隆汇 reported that CICC stated that Kuaishou's third quarter revenue increased by 11.4% year-on-year to 31.1 billion yuan, with Non-IFRS net income of 3.95 billion yuan, both in line with market expectations and the firm's consensus. Looking ahead to the fourth quarter, the firm determines that the total commodity trade volume (GMV) on the Kuaishou platform during the singles' day sales performed well, but considering that the singles' day sales may siphon GMV from the rest of the fourth quarter, the firm expects the overall GMV growth rate for the fourth quarter to remain around 14% year-on-year. It anticipates a 10% year-on-year increase in revenue, including a projected 19% increase in other revenue, including e-commerce, and a 15% growth in advertising revenue, with core business revenue growth expected to outperform GMV. The firm maintains its "outperform industry" rating and raises the target price by 18% to 66 HKD.