According to insiders, Kuaishou Technology plans to spin off its Kling business, which focuses on AI video generation large models, before launching its IPO next year. It has already initiated discussions with potential investors regarding pre-IPO financing, valuing Kling at US$20 billion in this round. Kling competes with similar products from ByteDance and others. In March, Kuaishou disclosed that Kling's annualized revenue has exceeded US$300 million, with expectations to double its full-year revenue by 2026. In the first quarter of this year, its revenue reached US$75 million, primarily sourced from overseas markets. In 2024, Kuaishou launched the Kling large model, capable of generating videos through text and image instructions. With a diverse business model, it has been widely applied in various commercial scenarios. Kuaishou has not disclosed Kling's daily or monthly active user data, but in January this year, it stated that its global creator user base had exceeded 60 million. Kuaishou officials have not commented on this.