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KUAISHOU TECHNOLOGY

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Kuaishou Technology : ByteDance rival Kuaishou to shut down video app Zynn

08/04/2021 | 03:54am EDT

BEIJING, Aug 4 (Reuters) - ByteDance rival Kuaishou Technology said on Wednesday it would stop services of its short video app Zynn, operated in the United States, on Aug. 20.

The company's other products for markets outside China will not be affected, Kuaishou said in a statement. "Our strategy for the international markets remains unchanged," it saidwithout providing a reason for Zynn's shutdown.

Apart from Zynn, for markets outside China, Kuaishou operates Kwai, which is mainly popular in South America, and Snack Video.

A reward system that offers users cash or gifts for signing up and referring friends helped Zynn to top U.S. app download charts last year.

The Tencent-backed short video apps developer also operates the Kuaishou app and competes with ByteDance's Douyin for the Chinese market. (Reporting by Yingzhi Yang and Brenda Goh; Editing by Jacqueline Wong and Barbara Lewis)


ę Reuters 2021
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Analyst Recommendations on KUAISHOU TECHNOLOGY
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Financials
Sales 2021 81 837 M 12 675 M 12 675 M
Net income 2021 -69 635 M -10 785 M -10 785 M
Net cash 2021 32 525 M 5 038 M 5 038 M
P/E ratio 2021 -4,46x
Yield 2021 -
Capitalization 333 B 51 584 M 51 651 M
EV / Sales 2021 3,68x
EV / Sales 2022 2,83x
Nbr of Employees 27 125
Free-Float 49,2%
Chart KUAISHOU TECHNOLOGY
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Kuaishou Technology Technical Analysis Chart | 1024 | KYG532631028 | MarketScreener
Technical analysis trends KUAISHOU TECHNOLOGY
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Last Close Price 80,01 CNY
Average target price 112,54 CNY
Spread / Average Target 40,7%
EPS Revisions
Managers and Directors
Hua Su Chairman & Chief Executive Officer
Yik Kay Chong Chief Financial Officer
Dingjia Chen Chief Technology Officer
Jia Tong Peng Vice President, Head-Investment & Development
Xuan De Huang Independent Non-Executive Director
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