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[Bilibili(BILI US, SELL, TP US$12.3) Review]: E-Commerce Ads Aren’t Sufficient to Hide Other Issues
We believe e-commerce ads could become a new driving force, but the rapid growth of game-related ads might fade post-Q3. Also, the consolidation of...
Blue Lotus Research Institute
271 Views
Bilibili (BILI US) – Monetization Improvement While Driving for Ecosystem Growth
BiliBili announced 2Q23 financial results on 17 Aug: total revenue increased by 8% YoY to RMB5.3bn, in line with CMBI/consensus estimate.
CMB International
355 Views
[Bilibili(BILI US, SELL, TP US$12.3)Update]: Still Struggling to Balance Growth and Monetization
We were invited to BILI’s 2023 investor day, during which BILI management presented several catalysts. Most of these catalysts appear to be minor....
Blue Lotus Research Institute
272 Views
Bilibili (BILI US) – Commercialization and Content Ecosystem Drive Business Growth
We attended BiliBili (Bili) 2023 investor day on 22 Jul. Our key takeaways are: 1) overall strategy: emphasizing healthy content ecosystem...
CMB International
235 Views
[Bilibili (BILI US, SELL, TP US$12.3) TP Change]: The Launch Of "Uma Musume" May Face More Delay
We cut our revenue estimations for 2H23, mainly due to increased uncertainty surrounding the launch of "Uma Musume." Our rev./non-GAAP net income...
Blue Lotus Research Institute
349 Views