Hong Kong Stock Market Update: BILIBILI-W surged over 10%, with gross profit margin increasing for 6 consecutive quarters. Annual operating cash flow turned positive.
BILIBILI-W surged over 10%, reaching a 10.85% increase to HKD 92.45 at the time of publication, with a trading volume of HKD 2.26 billion. On the news front, Bilibili recently disclosed its financial report for the fourth quarter and full year of 2023. The total annual revenue for Bilibili in 2023 reached RMB 22.53 billion, with a total revenue of RMB 6.35 billion in the fourth quarter. The gross profit margin has increased for six consecutive quarters to 26.1% on a quarter-on-quarter basis, and the adjusted net loss has significantly narrowed by 58% year-on-year. In the fourth quarter, the net operating cash flow was RMB 640 million, achieving positive operating cash flow for the full year. Zhongjin Securities pointed out that the company's advertising infrastructure continues to improve, and its growth potential is expected to be further unleashed. During the performance meeting, the company stated that advertising revenue in 2024 is expected to maintain a high year-on-year growth rate. They plan to integrate the advertising delivery system, focus on improving delivery efficiency and community scene penetration, and release more advertising inventory. Additionally, there may be new highlights in the trading model for 2024. Furthermore, the company may gradually clarify the structure of its gaming business, advance the progress of core self-developed projects, and promote the performance of agent products going online within the year.
Zhitong App learned that Bilibili-W (09626) surged over 10%, as of the time of publication, it rose by 10.85% to HKD 92.45, with a turnover of HKD 2.26 billion.
On the news front, Bilibili recently disclosed its financial report for the fourth quarter and full year of 2023. The total annual revenue of Bilibili in 2023 reached RMB 22.53 billion, with a total revenue of RMB 6.35 billion in the fourth quarter. The gross profit margin has continuously increased by 26.1% for six consecutive quarters, and the adjusted net loss has significantly narrowed by 58% year-on-year. The operating cash flow in the fourth quarter was a net inflow of RMB 640 million, achieving positive operating cash flow for the whole year.
CICC pointed out that the company's advertising infrastructure continues to improve, and its growth potential is expected to be further unleashed. In terms of performance, the company stated that the advertising revenue in 2024 is expected to maintain a high year-on-year growth rate. They plan to integrate the delivery system, focus on improving delivery efficiency and community scene penetration, releasing more advertising inventory. Additionally, there may be new highlights in the trading model in 2024. Furthermore, the company may gradually clarify the game business structure, promote the progress of core self-developed projects, and enhance the performance of agent products launched within the year.