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On July 2, Kuaishou made an announcement on the Hong Kong Stock Exchange. After the close of trading hours, Beijing Kling—an indirectly wholly-owned subsidiary of Kuaishou, which is slated to house Kuaishou Group's Kling AI-centric assets and operations post-restructuring—entered into a capital increase agreement. This agreement was signed with 21 independent investors (collectively known as the "Early-stage Investors") and Beijing Kling Group Company, among other parties. As per the terms of the agreement, the Early-stage Investors have committed to infusing a substantial sum of RMB 13.824 billion (equivalent to USD 2.028 billion) in cash into Beijing Kling. This infusion is contingent upon the satisfaction of certain conditions or the receipt of necessary waivers.
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