Core Viewpoint - Bank of China International reported that Weibo-SW (09898) achieved a 2% year-on-year revenue growth in the second quarter, exceeding market expectations by 2% and aligning with the bank's estimates [1] Financial Performance - Adjusted net profit margin was impressive at 32.2%, benefiting from a one-time receivables reversal recorded in general and administrative expenses [1] Market Outlook - The bank anticipates a relatively weak performance in online advertising for the second half of the year due to budget cuts from advertisers in the mobile and online gaming sectors, partially offset by stable e-commerce and certain fast-moving consumer goods sub-sectors [1] Strategic Initiatives - The company is focused on advancing artificial intelligence investments, integration, and application within its core social ecosystem [1] Ratings and Price Targets - The bank maintains a "Hold" rating, raising the target price for H-shares from 79 HKD to 86 HKD, and for US shares from 10 USD to 11 USD [1]

Group 1 - The core viewpoint of the report indicates that Weibo-SW (09898) achieved a 2% year-on-year revenue growth in the second quarter, exceeding market expectations by 2% and aligning with the bank's estimates [1] - The adjusted net profit margin was impressive at 32.2%, benefiting from a one-time receivables reversal recorded in general and administrative expenses [1] - The bank anticipates a relatively weak performance in online advertising for the second half of the year due to budget cuts from advertisers in the mobile and online gaming sectors, partially offset by stable e-commerce and certain fast-moving consumer goods sub-sectors [1] Group 2 - The company is focused on advancing investments, integration, and application of artificial intelligence within its core social ecosystem [1] - The bank maintains a "Hold" rating, raising the target price for H-shares from HKD 79 to HKD 86, and for US shares from USD 10 to USD 11 [1]

Core Viewpoint - The report from Zhongyin International indicates that Weibo's second-quarter revenue grew by 2% year-on-year, exceeding market expectations by 2% and aligning with the bank's estimates [1] Financial Performance - Adjusted net profit margin reached 32.2%, benefiting from a one-time receivables reversal recorded in general and administrative expenses [1] - The bank anticipates a relatively weak online advertising performance in the second half of the year due to budget cuts from advertisers in the mobile and online gaming sectors, partially offset by stable e-commerce and certain fast-moving consumer goods sub-sectors [1] Strategic Initiatives - The company is committed to advancing investments, integration, and application of artificial intelligence within its core social ecosystem [1] Ratings and Price Targets - The bank maintains a "Hold" rating for Weibo, raising the target price for H-shares from HKD 79 to HKD 86, and for US shares from USD 10 to USD 11 [1]

Core Viewpoint - Huawei's HarmonyOS is gaining traction with over 10 million devices running HarmonyOS 5.0, supported by significant investment in developer migration and ecosystem development [5][6][7]. Group 1: Product Launch and Market Position - Huawei's first travel car, the Hongmeng Zhixing S9T, has begun pre-sales as of August 18 [1]. - HarmonyOS is projected to capture 19% of the Chinese smartphone market share by Q4 2024, surpassing Apple's iOS, which holds 17% [7]. Group 2: Investment in Ecosystem Development - Huawei has invested nearly 10 billion yuan this year to support developers transitioning to the HarmonyOS ecosystem, including offering user incentives through the "Hongmeng Daily New Red Packet" program [5]. - The company has launched the Harmony Star Program, committing 100 million yuan in cash and resources to foster innovation among campus developers and creative talents [8]. Group 3: Developer Support and Tools - Huawei's Developer Space has been upgraded to provide a comprehensive AI application development experience, attracting over 1.1 million developers and empowering 170,000 to utilize its resources [9]. - New features in the Developer Space include AI-native application engines and low-code capabilities, enhancing the development process for AI intelligent applications [9].

Core Viewpoint - The company reported 2Q25 revenue of $445 million, a 1.6% year-on-year increase, meeting expectations, while Non-GAAP net profit reached $143 million, exceeding both company and market forecasts [1] Revenue and Growth Trends - Advertising and marketing revenue in 2Q25 increased by 2% to $383 million, driven by demand from e-commerce advertisers [1] - Revenue from Alibaba's advertising and marketing grew by 10% due to increased marketing demand during the 618 shopping festival [1] - The e-commerce sector saw a year-on-year revenue increase in 2Q25, while the automotive sector maintained advertising spending on Weibo, covering over 60% of new energy vehicle launches in 1H25 [1] - Consumer goods advertisers showed significant interest in Weibo for new products, celebrity endorsements, and IP marketing, with both revenue and project numbers growing by double digits year-on-year [1] - Information flow bidding ads experienced year-on-year growth, particularly from performance-driven e-commerce clients, with plans to expand customer coverage in 3Q25 [2] Future Outlook - For 3Q25, the company anticipates challenges in the fast-moving consumer goods sector due to high base effects from last year's Olympic marketing events, but aims to capitalize on advertising opportunities in e-commerce, automotive, and healthcare sectors [2] - The monthly active users (MAU) of the AI search feature surpassed 50 million in June, with plans for commercialization testing in 4Q25 and beyond [2] - The company has integrated AI capabilities into its advertising products, with a focus on enhancing user experience and search result effectiveness [2] Cost Structure and Profitability - General and administrative expenses in 2Q25 decreased by 70% to $7.96 million, primarily due to the recovery of a previously written-off bad debt [3] - The sales expense ratio declined by 1 percentage point to 24.7%, continuing the trend of cost structure optimization [3] Profit Forecast and Valuation - The company has lowered its Non-GAAP net profit forecasts for 2025 and 2026 by 3% to $482 million and $491 million, respectively [3] - Current trading multiples are 5/5x for Hong Kong stocks and 6/6x for U.S. stocks based on 2025/2026 Non-GAAP P/E ratios, with target prices set at HKD 100.8 and USD 13, indicating potential upside of 14% for U.S. stocks and 23% for Hong Kong stocks [3]

Core Viewpoint - Weibo (WB) shows positive financial performance with a slight increase in revenue and a significant rise in net profit, supported by a buy rating from CMB International with a target price of $14.5 [1][2]. Financial Performance - As of June 30, 2025, Weibo's total revenue is $842 million, reflecting a year-on-year growth of 0.99% [1]. - The net profit attributable to the parent company is $233 million, marking a year-on-year increase of 44.17% [1]. Market Activity - On August 15, Weibo's stock opened with a 2.53% increase, reaching $11.73 per share, with a total trading volume of $1.6341 million and a market capitalization of $2.936 billion [1]. Company Overview - Weibo is a leading social media platform that combines public self-expression with strong social interaction and content distribution capabilities [2]. - The platform allows users to create and share content, with a focus on mobile-first design and native advertising integrated into the information flow [2]. - The majority of Weibo's revenue comes from advertising and marketing services, including social display ads and promotional marketing ads [2].

Group 1 - The core issue revolves around the speculation regarding the display of IP location information on Weibo user profiles, which was triggered by a blogger's claim [1] - Weibo's official community observer account clarified that the displayed information is not related to IP location and that the IP location indicator is different [1] - The purpose of displaying IP location information across platforms in 2022 was to reduce impersonation, malicious rumors, and other undesirable behaviors, ensuring the authenticity and transparency of content dissemination [1]

Group 1 - The article promotes a subscription service called Beyond the Wall Investing, which offers high-quality analysis of Wall Street buying and selling ideas [1] - Daniel Sereda is highlighted as the chief investment analyst at a family office, emphasizing his expertise in navigating vast amounts of information to extract critical investment ideas [1] - The investing group provides access to information prioritized by institutional market participants, indicating a focus on professional-grade analysis [1] Group 2 - The article includes a disclosure from Seeking Alpha, stating that past performance does not guarantee future results and that no specific investment recommendations are provided [2] - It clarifies that the views expressed may not reflect those of Seeking Alpha as a whole, highlighting the diversity of opinions among its analysts [2] - The article notes that the analysts may not be licensed or certified by any regulatory body, which could impact the credibility of the analysis [2]

该行预计，集团第三季收入按年跌3%，主要是上年夏季奥运呈高基数，尤其饮食广告，游戏和智能电 话下半年或受到逆风，但仍预计集团全年经调整营运利润率达30%以上。该行将集团今年及明年经调整 后纯利预测分别上调3%及2%，目标价由8.8美元上调至11.5美元，评级由"持有"升至"跑赢大市"。 里昂发表研究报告指，微博次季收入达4.45亿美元，经调整后纯利达1.43亿美元，较该行预期分别高出 1%及23%。即使下半年收入因基数效应而放缓，但该行认为这可以忽略不计，料明年人工智能货币化 表现可能会更令人鼓舞。 ...

Financial Performance - In Q2 2025, Weibo reported total revenue of $444.8 million, approximately 3.2 billion RMB, and adjusted operating profit of $161.8 million, around 1.16 billion RMB, exceeding Wall Street expectations [2] - Advertising revenue for Q2 reached $383.4 million, about 2.76 billion RMB, with significant growth in sectors like food and beverage, apparel, and beauty [5] User Engagement - As of the end of Q2, Weibo's monthly active users reached 588 million, with daily active users at 261 million [2] - The platform's search product, "Zhiso," saw a significant increase in daily active users, with a month-on-month growth in Q2 [4] Strategic Initiatives - Weibo's strategy focuses on enhancing user value, maintaining its leading position in entertainment content, and improving social product competitiveness [3] - The platform has strengthened its social interaction experience, particularly in comment sections for celebrities and top influencers, improving discussion quality [3] Community and Content Development - Weibo has established a vertical operation system that integrates content from cross-domain influencers, with over 50% of interest content production coming from these creators [3] - The "Zhiso" product has improved user experience by optimizing model strategies and increasing content diversity, leading to a compound growth rate of 41.7% in the first half of the year [4] E-commerce and Marketing Trends - Weibo's collaboration with major e-commerce platforms during the 618 shopping festival resulted in a noticeable increase in e-commerce revenue [5] - The platform remains a key marketing venue for the automotive industry, particularly for new energy vehicles, with over 60% of new car marketing coverage in the first half of the year [5]