Group 1 - The Nasdaq China Golden Dragon Index declined by 0.56% on August 6 [1] - Most popular Chinese concept stocks experienced a downturn, with notable exceptions [1] - Xpeng Motors and Bilibili saw gains of over 2%, while Baidu and NIO dropped by more than 2% [1]

格隆汇8月5日丨哔哩哔哩-W(09626.HK)公告，董事会将于2025年8月21日举行董事会会议，藉以（其中 包括）批准截至2025年6月30日止三个月及六个月的未经审计财务业绩及第二季度及半年度业绩公告。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 Bilibili Inc. 嗶哩嗶哩股份有限公司 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9626） 董事會會議日期及 刊 發 2025 年第二季度及 半年度未經審計財務業績公告日期 我們的董事會將於2025年8月21日（星期四）（香港時間）舉行董事會會議，藉以（其中包括） 批准我們截至2025年6月30日止三個月及六個月的未經審計財務業績（「第二季度及半年 度業績」）及第二季度及半年度業績公告。我們將於2025年8月21日（星期四）下午六時正 （香港時間）或前後於香港聯合交易所有限公司網站www.hkexnews.hk公佈第二季度及半 年度業績。 所有與會者須於電話會議召開前使用上文提供的鏈接完成在線註冊程序。註冊後，各與 會者將收到一組用以參與電話會議的與會者撥入號碼及個人密碼。 此外，電話會議的網上直播可於我們的投資者關係網站http://ir.bilibili.com獲取 ...

Core Viewpoint - Bilibili Inc. is set to report its second quarter 2025 unaudited financial results on August 21, 2025, before U.S. markets open, with an earnings conference call scheduled for the same day at 8:00 AM ET [2][3]. Company Overview - Bilibili is a leading video community in China, targeting young generations with a mission to enrich their everyday lives through a diverse array of video-based content [5]. - The company is known for its "bullet chatting" feature, which enhances user engagement by allowing real-time comments during video viewing [5]. - Bilibili aims to foster a strong community among users, content creators, and cultural promotion, positioning itself as a hub for diverse interests among young audiences in China [5]. Earnings Call Details - The earnings conference call will take place at 8:00 AM U.S. Eastern Time on August 21, 2025, which corresponds to 8:00 PM Beijing/Hong Kong Time on the same day [3]. - Participants must register online to receive dial-in numbers and a personal PIN for the call [3]. - A live webcast of the conference call will be available on the company's investor relations website, along with a replay after the session [4].

Industry Overview - Chinese gaming stocks, including Bilibili and NetEase, saw a pre-market rise, with Bilibili increasing over 3% and NetEase over 2% [1] - The China Audio-Video and Digital Publishing Association's report indicates that the domestic gaming market's actual sales revenue for the first half of 2025 is projected to reach 168 billion yuan, marking a year-on-year growth of 14.08%, setting a historical high [1] - The number of domestic gaming users is expected to reach 679 million, also a record high [1] Company Performance Bilibili (BILI) - Bilibili's closing price on August 4 was 22.435 USD, with a pre-market price of 23.210 USD on August 5, reflecting a 3.45% increase [1] - The stock's trading volume was 2.2305 million shares, with a market capitalization of 9.261 billion USD [1] - The stock has a 52-week high of 31.770 USD and a low of 12.720 USD [1] NetEase (NTES) - NetEase's closing price on August 4 was 130.280 USD, with a pre-market price of 133.140 USD on August 5, showing a 2.20% increase [1] - The trading volume was 536,700 shares, with a market capitalization of 82.493 billion USD [1] - The stock has a 52-week high of 141.450 USD and a low of 74.171 USD [1]

8月5日，恒生互联网ETF（513330）盘中震荡，涨近0.5%，成分股中，心动公司涨超24%，东方甄选涨 超16%，网龙、地平线机器人、哔哩哔哩跟涨。 （文章来源：每日经济新闻） 7月30日，重磅会议顺利召开，明确提出"必须把因地制宜发展新质生产力摆在更加突出的战略位置"， 同时对"反内卷"的表述温和。 港股龙头互联网企业资本开支和云业务收入同步强劲增长。当前AI产业发展正进入从1-100的快速扩张 阶段，DeepSeek加速AI平权进程，港股互联网龙头AI商业化应用加速落地。从各大互联网巨头和三大 运营商不断加码云与AI基础设施投资可见，AI正成为推动云增长的核心动力。 在"反内卷"政策导向与AI产业快速发展的双重提振下，互联网企业的发展势头愈发强势。聚焦互联网龙 头企业与新消费的恒生互联网ETF（513330）有望进一步走出亮眼行情。 年内行情诞生背景主要是以AI为代表的产业变革加速演进，随着DeepSeek大模型全面开源，标志着中 国AI技术跻身全球第一梯队。根据Artificial Analysis综合多项性能基准的全球排行榜中，中国AI大模型 整体表现与美国前沿模型相当，其中DeepSeek-R1 ...

Group 1 - The core point of the article highlights the strong performance of mobile gaming stocks in the Hong Kong market, driven by the earnings surprise from Xindong Company, which saw its stock price surge over 24% [1] - Xindong Company expects revenue for the first half of 2025 to be no less than 3.05 billion yuan, representing a year-on-year growth of approximately 37%, and a net profit of no less than 790 million yuan, indicating a year-on-year increase of about 215% [1] - The report from the China Audio-Video and Digital Publishing Association indicates that the domestic gaming market's actual sales revenue for the first half of 2025 is projected to reach 168 billion yuan, a year-on-year growth of 14.08%, marking a historical high [1] Group 2 - The stock performance of various mobile gaming companies includes IGG rising nearly 10%, Chuangmeng Tiandi and Zhongshouyou increasing over 6%, and Feiyu Technology up by 4% [2] - The latest market capitalization figures show Xindong Company at 34.826 billion yuan, IGG at 5.323 billion yuan, and Chuangmeng Tiandi at 2.138 billion yuan, among others [2] - The total number of domestic gaming users reached 679 million, also a historical high, reflecting the growing engagement in the gaming sector [1]

Group 1 - The core point of the article highlights a significant rise in mobile gaming stocks in the Hong Kong market, driven by the earnings forecast from Xindong Company, which saw its stock price increase by over 24% [1][2]. - Xindong Company expects its revenue for the first half of 2025 to be no less than 3.05 billion yuan, representing a year-on-year growth of approximately 37%. The net profit is projected to be no less than 790 million yuan, an increase of about 215% year-on-year [2]. - Other mobile gaming stocks also experienced gains, with IGG rising nearly 10%, Chuangmeng Tiandi and Zhongyou Game both increasing over 6%, and several others showing positive growth [1][2]. Group 2 - According to the China Audio-Video and Digital Publishing Association, the actual sales revenue of the domestic gaming market in the first half of 2025 is expected to reach 168 billion yuan, marking a year-on-year increase of 14.08%, setting a new historical high [3]. - The number of domestic gaming users is projected to reach 679 million, also achieving a historical peak [3].

Summary of Bilibili (BILI.O) Conference Call Company Overview - **Company**: Bilibili Inc. (BILI.O) - **Industry**: Online entertainment, specifically focused on anime, comics, and games (ACG) in China Key Financial Insights - **2Q25 Results Expectations**: Revenue is expected to increase by 19% to RMB 7.3 billion, aligning with consensus estimates, driven by advertising (+17%), gaming (+60%), VAS (+10%), and others (-10%) [2] - **Non-GAAP Gross Profit Margin (GPM)**: Projected to improve to 37.3% from 37% in 1Q25, with Non-GAAP Operating Profit Margin (OPM) estimated at 7.8% compared to 7% in 1Q25 [2] - **Earnings Forecast**: Non-GAAP earnings forecasted at RMB 511 million, consistent with consensus [2] 2H25 Outlook - **Gaming Segment**: Three new games are expected, but they are not major titles, which may lead to a slight weakening in gaming momentum [3] - **Advertising Segment**: Expected to remain the primary growth driver due to infrastructure improvements and the integration of AI technologies, with management confident that Bilibili's advertising performance will outperform the industry in the medium term [3] - **VAS Segment**: Live streaming growth is anticipated to remain stable, with monetization through charging functions being a priority [3] Regulatory Environment - **Impact of Advertising Regulation**: Recent government guidelines on advertising are expected to have limited impact on Bilibili, as the company primarily engages with larger merchants who are likely already compliant [4] Financial Projections - **Target Price Adjustment**: Target price raised to US$24 from US$23, reflecting a re-rating in the Chinese internet space [1] - **Market Capitalization**: Approximately US$9.65 billion [6] - **Earnings Summary**: - 2023A: Net Profit - RMB 3,425 million - 2024A: Net Profit - RMB 22 million - 2025E: Net Profit - RMB 2,136 million - 2026E: Net Profit - RMB 2,628 million - 2027E: Net Profit - RMB 3,107 million [5] Valuation Insights - **Valuation Breakdown**: - Gaming Business: US$6.8/share at a 15x 2025E P/E - Advertising Business: US$10.8/share at an 18x 2025E P/E - VAS Segment: US$6.0/share at a 1.5x 2025E P/S - E-commerce and Others: US$0.4/share at a 0.5x 2025E P/S [12][20] Risks and Challenges - **High Risk Rating**: The stock is rated as Neutral/High Risk due to volatility and ongoing losses. Key risks include: - Underperformance in gaming and advertising segments - Regulatory risks and increased competition [19][21] Conclusion - Bilibili is positioned for moderate growth driven by advertising and stable performance in live streaming, but faces challenges in gaming momentum and regulatory compliance. The company’s financial outlook remains cautiously optimistic with a focus on improving operational efficiency and leveraging AI technologies.

（文章来源：每日经济新闻） 每经AI快讯，8月5日，截至发稿，心动公司(02400.HK)涨8.55%、中旭未来(09890.HK)涨1.04%、哔哩哔 哩-W(09626.HK)涨0.74%。 ...