Looking around the entire Chinese Internet, Bilibili is the most scarce target:
It has over 100 million daily activities, a steady stream of highly engaged and continuous young users, and has yet to dive deep into the e-commerce business. As an independent “third party” traffic pool, to this day, no platform or brand chamber of commerce doesn't pay attention to the traffic here; this special position makes Station B the only video platform that can achieve a large open loop, and can import its own traffic into any e-commerce platform.
Earnings summary:
One core that has plagued the market value of Station B for a long time is the company's ability to commercialize. In the fourth quarter and throughout 2023, Station B has achieved a return in operating cash flow and officially has continuous hematopoietic capacity. According to CEO Chen Rui's disclosure during the conference call, with the support of good operating data, Station B advanced its profit forecast from the previous 2024Q4 to 2024Q3.
Station B received far more advertising revenue growth than its peers, proving the financial content of independent third-party traffic pools in today's Chinese-language Internet world. As a typical business model for technology companies, the advertising business will lay the foundation for Station B's future growth.
In the game business over the past year, Station B has adopted very effective cost control and strategic focus. The test data for SLG's “Three Kingdoms Plan the World”, which is currently being launched in May, is very good. As long as this game can achieve the expected performance, it can reverse the market's negative view of the company's game business. The biggest difference in expectations also comes from here.
Let's list B station first...