According to The Paper, $KUAISHOU-W (01024.HK)$According to The Paper, at the new low of its stock price, Kuaishou's official WeChat account published an article stating, 'The rise and fall of tides is for nothing.'
On August 6, Kuaishou's official WeChat account 'Kuaishou Daily' published an article using song titles to form a sentence: 'Friends, stay calm, face irrational volatility, the rise and fall of tides is for nothing, tomorrow will be better.'
Following the playlist, Kuaishou added a series of the character 'long'.
Some netizens commented: Is this character pronounced as 'chang' (standing for long-termism) or 'zhang' (standing for stock price increase)? On the same day, Kuaishou's share price continued its decline at the opening, hitting a record low of HKD 78.6, and was trading at HKD 84.9 per share as of press time, down 4.71%. Its current market capitalization is approximately HKD 353.1 billion, shrinking by 80% from its peak of HKD 1.7 trillion.
Six months after its IPO, Kuaishou faced the lifting of restricted shares. Some internal employees of Kuaishou revealed that during internal meetings, when asked questions like 'Now that the lock-up period has ended, will management reduce their holdings?', Kuaishou’s core executives all expressed they would 'firmly hold' and 'not reduce holdings'. Founders Su Hua and Cheng Yixiao also explicitly stated that they would 'not sell'.