Market Overview - US stock index futures are all down, with Dow futures down 0.75%, S&P 500 futures down 0.50%, and Nasdaq futures down 0.51% [1] - European indices also show declines, with Germany's DAX down 0.10%, UK's FTSE 100 down 0.01%, France's CAC40 down 0.54%, and the Euro Stoxx 50 down 0.37% [2] - WTI crude oil is up 0.74% at $62.49 per barrel, while Brent crude is up 0.67% at $65.82 per barrel [2] Currency and Economic Sentiment - There is a rising expectation of US dollar depreciation, with the Bloomberg dollar index's one-year risk reversal indicator showing a negative 27 basis points, indicating the lowest level on record [3] - Morgan Stanley suggests buying US assets excluding the dollar, predicting a series of interest rate cuts by the Federal Reserve that could support the bond market and boost corporate earnings [3] Inflation and Tariff Impact - Federal Reserve officials warn that the impact of tariffs will soon be fully realized, potentially leading to a new wave of price increases in the US economy [4] - Atlanta Fed President Bostic indicates that many companies' buffer strategies against high tariffs are running out, which could weaken overall economic activity [4] Investor Sentiment and Market Dynamics - JPMorgan's CEO warns of "extreme complacency" among investors, suggesting that the market may soon face turbulence [5] - Goldman Sachs reports that clients are increasingly seeking to withdraw funds from the US market, questioning whether the US stock market's rally has reached its peak [6] Company Performance Highlights - Lowe's reported same-store sales down 1.7% but expects this key sales metric to remain flat or grow up to 1% for the year [7] - ZTO Express achieved a 19.1% year-on-year increase in package volume, with net profit up 40.9% [7] - Baidu's Q1 net profit increased by 41.65% year-on-year, reaching 77.17 billion yuan [8] - XPeng Motors reported a net loss of 660 million yuan, a 51.5% decrease year-on-year, with total revenue up 141.5% [8] - Weibo's Q1 net profit grew by 116.36% year-on-year, reaching $107 million [9] - Target's Q1 performance fell short of expectations, leading to a downward revision of sales forecasts [10] - Full Truck Alliance reported a 19% year-on-year increase in revenue, with significant growth in operational metrics [11] - iQIYI's Q1 revenue reached 71.9 billion yuan, with a 9% quarter-on-quarter increase [12] - Xinyi Technology reported a Q1 revenue of 34.81 billion yuan, with a net profit of 7.38 billion yuan [12] - Tuya Smart's Q1 revenue grew by approximately 21.1%, exceeding expectations [12]

Group 1: Gold Jewelry Prices - Domestic gold jewelry prices have surpassed 1000 yuan per gram again, influenced by the rise in international gold prices, with brands like Chow Tai Fook and Lao Miao increasing prices to 1008 yuan and 1004 yuan per gram respectively [1] Group 2: Real Estate Investment Trusts (REITs) - Huatai Suzhou Hengtai Rental Housing REIT was listed on the Shanghai Stock Exchange, with a total of 500 million fund shares sold at 2.73 yuan per share, raising a total of 1.367 billion yuan [1] Group 3: New Energy Vehicles - Global sales of new energy vehicles are projected to exceed 4 million units in Q1 2025, marking a 39% year-on-year increase, with new energy vehicles accounting for 18.4% of total global car sales in that quarter [1] Group 4: Robotics - The Lingxi X2 humanoid robot by Zhiyuan Robotics will begin its first round of pre-sales on May 22, with prices ranging from hundreds of thousands to several million yuan depending on hardware configuration [2] - Zhiyuan Robotics plans to release a quadruped robot product in Q2 2025, targeting family and other consumer scenarios [2] Group 5: AI Solutions - Red Hat has launched the Red Hat AI Inference Server, enhancing the deployment of generative AI in hybrid cloud environments, integrating Neural Magic technology for improved performance and cost efficiency [3] Group 6: Corporate Rebranding - Alibaba's entertainment division has been rebranded as "Whale Entertainment," with its film division set to be renamed "Damai Entertainment," aligning with the company's strategic focus [3] Group 7: Financing and Expansion - Shanghai Minxin Technology has completed nearly 100 million yuan in B+ round financing, aimed at expanding product lines, team growth, and establishing an overseas R&D center [4] Group 8: Automotive Industry - XPeng Motors reported Q1 2025 revenue of 15.81 billion yuan, a 141.5% increase year-on-year, with a projected revenue of 17.5 billion to 18.7 billion yuan for Q2 [4] - Jin Gu Co. has received a project notification from a global automotive leader to develop wheel products for American passenger vehicles, with production expected to start in 2026 [7] Group 9: Share Buyback - Wanhua Chemical plans to repurchase shares worth between 300 million and 500 million yuan to optimize capital structure and enhance shareholder value [8] Group 10: Production Suspension - Lanhua Ketech's subsidiary, Yamei Danning, has suspended production due to the expiration of its business license and production capacity announcement, with the resumption date yet to be determined [9] Group 11: Strategic Partnerships - Jiemai Technology's subsidiary has signed a strategic cooperation agreement with a solid-state battery company to produce high-safety lightweight composite materials [11] Group 12: Market Performance - The market saw a mixed performance with the ChiNext Index rising by 0.83%, driven by gains in solid-state battery and innovative drug sectors, while other sectors faced declines [12]

Exhibit 99.1 Weibo Announces First Quarter 2025 Unaudited Financial Results BEIJING, China – May 21, 2025 – Weibo Corporation ("Weibo" or the "Company") (Nasdaq: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results for the first quarter ended March 31, 2025. "We are pleased with our progresses made on the AI product front," said Gaofei Wang, CEO of Weibo. "On the user front, we remain committed to creating user value by focusing on the integration of Weibo's s ...

Financial Performance - Weibo-SW reported Q1 2025 net revenue of $396.9 million, flat year-over-year, or a 1% increase when adjusted for fixed exchange rates [1] - Operating profit was $110 million, with an operating margin of 28% [1] - Net profit attributable to Weibo shareholders reached $107 million, a year-over-year increase of 116.36% [1] - Diluted earnings per share stood at $0.41 [1] User Engagement - As of March 2025, Weibo had 591 million monthly active users and 261 million daily active users [1] - The user scale and engagement further improved in Q1, focusing on user value and product integration [2] Revenue Breakdown - Advertising and marketing revenue was $339.1 million, remaining stable compared to the previous year [1] - Excluding Alibaba's advertising revenue, this segment decreased by 6% to $296.5 million, primarily due to reduced contributions from the online gaming and mobile sectors [1] - Revenue from Alibaba's advertising increased by 89% to $42.6 million, driven by promotional needs related to the Spring Festival and AI product marketing [1] - Value-added services revenue was $57.7 million, a 2% increase year-over-year, mainly due to growth in membership services [1] Strategic Focus - The CEO expressed satisfaction with the progress in AI applications, highlighting the launch of the Weibo Smart Search feature to all users [2] - The company aims to enhance content marketing and improve the efficiency of information flow bidding ads, maintaining stable advertising business performance [2] - Cost management has improved operational efficiency, allowing for investments in product competitiveness, AI technology, and shareholder returns [2]

Financial Performance - In Q1 2025, Weibo reported net revenue of $396.9 million, remaining flat year-over-year, or a 1% increase when adjusted for fixed exchange rates [1] - Advertising and marketing revenue was $339.1 million, also flat year-over-year, or a 1% increase when adjusted for fixed exchange rates [1] - Value-added services revenue reached $57.7 million, representing a 2% year-over-year increase, or a 3% increase when adjusted for fixed exchange rates [1] - Operating profit for Q1 2025 was $110.3 million, with an operating margin of 28% [1] - Net profit attributable to Weibo shareholders was $107.0 million, with diluted earnings per share of $0.41 [1] - Non-GAAP operating profit was $129.5 million, with a non-GAAP operating margin of 33% [1] - Non-GAAP net profit attributable to Weibo shareholders was $119.5 million, with diluted non-GAAP earnings per share of $0.45 [1] User Engagement - As of March 2025, Weibo had 591 million monthly active users and 261 million daily active users [2] - The company reported a total of $2.08 billion in cash, cash equivalents, and short-term investments as of March 31, 2025, down from $2.35 billion as of December 31, 2024 [2] Strategic Initiatives - The CEO expressed satisfaction with the progress in artificial intelligence applications [2] - The company focused on user value and product integration, enhancing the recommendation system [2] - Weibo's AI search feature, "Weibo Zhisu," was made available to all users, showing significant growth in user scale and daily search volume [2] - The company continued to leverage its strengths in content marketing and improved the efficiency of its information flow bidding ads, maintaining stable advertising business [2] - Rigorous cost management led to improved operational efficiency, allowing for investments in product competitiveness, AI technology, and shareholder returns [2]

【微博第一季度净营收3.969亿美元，预估3.938亿美元】微博第一季度调整后每股收益0.45美元，预估 0.38美元。微博美股盘前涨超3%。 ...

Group 1: Financial Performance - In Q1 2025, Weibo reported total revenue of $396.9 million, approximately 2.883 billion RMB, with adjusted operating profit of $129.5 million, around 943 million RMB, exceeding Wall Street expectations [1] - As of the end of Q1, Weibo's monthly active users reached 591 million, with daily active users at 261 million [1] Group 2: User Engagement and Content Strategy - Weibo's strategy for 2025 focuses on user value, maintaining its leading position in hot topics and entertainment content, while enhancing its recommendation and search systems through large model capabilities [2] - During the Spring Festival, Weibo integrated hot topics and entertainment content, resulting in over 60 billion reads and more than 500 million discussions, with a discussion volume increase of over 50% compared to last year [3] - The AI-related discussions on Weibo have expanded from technical circles to the general public, significantly increasing user awareness and engagement with AI technologies [3][4] Group 3: Advertising and Commercialization - The automotive industry continues to show steady growth in Q1 2025, supported by Weibo's established position as a marketing platform for new energy vehicles [5] - The e-commerce sector experienced significant revenue growth in Q1, driven by improved operational performance and increased marketing investments on Weibo [6] - Weibo's information flow advertising has seen a notable increase in Q1, with plans to further enhance user experience and efficiency through AI technology [6]

Core Insights - Weibo's net revenue for Q1 2025 is $397 million, showing no year-over-year change, or a 1% increase when adjusted for fixed exchange rates [1] - Advertising and marketing revenue remains at $339 million, also flat year-over-year, with a 1% increase when adjusted for fixed exchange rates [1] - Value-added services revenue increased by 2% year-over-year to $57.7 million, or a 3% increase when adjusted for fixed exchange rates [1] Financial Performance - Operating profit stands at $110 million, with an operating margin of 28% [1] - Net profit attributable to Weibo shareholders is $107 million, translating to a diluted earnings per share of $0.41 [1] - Non-GAAP operating profit is $129 million, with a non-GAAP operating margin of 33% [1] - Non-GAAP net profit attributable to Weibo shareholders is $120 million, resulting in a non-GAAP diluted earnings per share of $0.45 [1] User Engagement - As of March 2025, Weibo has 591 million monthly active users and an average of 261 million daily active users [1]

Financial Performance - Total net revenues for Q1 2025 were $396.9 million, flat year-over-year, or an increase of 1% on a constant currency basis[5] - Advertising and marketing revenues were $339.1 million, flat year-over-year, with a 1% increase on a constant currency basis; excluding Alibaba, revenues decreased by 6% to $296.5 million[7] - Value-added services (VAS) revenues increased by 2% year-over-year to $57.7 million, driven by growth in membership services[8] - Income from operations was $110.3 million, representing an operating margin of 28%, up from 25% in the same period last year[9] - Net income attributable to Weibo's shareholders was $107.0 million, compared to $49.4 million for the same period last year, with diluted net income per share of $0.41[12] - Non-GAAP income from operations was $129.5 million, with a non-GAAP operating margin of 33%, compared to 32% last year[9] - Non-operating income for Q1 2025 was $22.1 million, compared to a non-operating loss of $23.6 million for the same period last year[10] - Adjusted EBITDA improved from $133,025 thousand in Q1 2024 to $139,720 thousand in Q1 2025, indicating an increase of 5.1%[28] - Total net revenues slightly increased from $395,497 thousand in Q1 2024 to $396,855 thousand in Q1 2025, showing a growth of 0.34%[32] - Non-GAAP net income attributable to Weibo's shareholders also increased from $106,612 thousand in Q1 2024 to $119,532 thousand in Q1 2025, reflecting a growth of 12.1%[28] User Metrics - Monthly active users (MAUs) reached 591 million in March 2025, while average daily active users (DAUs) were 261 million[5] - The company has made Weibo Intelligent Search available to all users, achieving decent sequential growth in both user base and daily search queries[2] Assets and Liabilities - Cash, cash equivalents, and short-term investments totaled $2.08 billion as of March 31, 2025, down from $2.35 billion at the end of 2024[13] - Total assets increased from $6,504,499 thousand as of December 31, 2024 to $6,658,879 thousand as of March 31, 2025, representing a growth of approximately 2.37%[26] - Current liabilities increased from $968,136 thousand as of December 31, 2024 to $1,191,480 thousand as of March 31, 2025, a rise of 23.1%[26] - Total liabilities rose from $2,925,613 thousand as of December 31, 2024 to $3,150,661 thousand as of March 31, 2025, reflecting an increase of 7.7%[26] Revenue Breakdown - Advertising and marketing revenue from non-Ali advertisers decreased from $316,400 thousand in Q1 2024 to $296,494 thousand in Q1 2025, a decline of 6.3%[32] - Revenue from Alibaba increased from $22,551 thousand in Q1 2024 to $42,612 thousand in Q1 2025, representing a growth of 89.1%[32] - Non-GAAP operating margin improved from 32% in Q1 2024 to 33% in Q1 2025, indicating enhanced operational efficiency[28]

Financial Performance - Weibo's net revenue for Q1 2025 was $396.9 million, flat year-over-year, or a 1% increase when adjusted for fixed exchange rates[4]. - Advertising and marketing revenue was $339.1 million, unchanged from the previous year, with a 6% decline in revenue excluding Alibaba's contributions[5]. - Value-added services revenue increased by 2% year-over-year to $57.7 million, driven by growth in membership services[5]. - Operating profit for Q1 2025 was $110.3 million, with an operating margin of 28%, up from 25% in the same quarter last year[6]. - Net profit attributable to Weibo shareholders was $107.0 million, compared to $49.4 million in the prior year, with diluted earnings per share of $0.41[7]. - Non-GAAP operating profit was $129.5 million, with a non-GAAP operating margin of 33%[6]. - Non-GAAP net profit attributable to Weibo shareholders was $119.5 million, with diluted earnings per share of $0.45[7]. - The company reported a 3% decrease in total costs and expenses to $286.5 million, primarily due to reduced sales and marketing expenses[5]. - The total net revenue for the three months ended March 31, 2024, was $395,497 thousand, slightly increasing to $396,855 thousand in 2025, indicating stable revenue growth[16]. - Operating profit for the three months ended March 31, 2024, was $99,737 thousand, which increased to $110,310 thousand in 2025, showing improved operational efficiency[16]. - The basic earnings per share attributable to Weibo shareholders rose from $0.21 in 2024 to $0.45 in 2025, demonstrating strong earnings growth[17]. - The diluted earnings per share attributable to Weibo shareholders increased from $0.19 in 2024 to $0.41 in 2025, indicating enhanced profitability per share[17]. - Advertising and marketing revenue for the three months ended March 31, 2024, was $338,951 thousand, slightly increasing to $339,106 thousand in 2025, reflecting stable demand in advertising[16]. - Value-added services revenue grew from $56,546 thousand in 2024 to $57,749 thousand in 2025, indicating a positive trend in service offerings[16]. - Total costs and expenses decreased from $295,760 thousand in 2024 to $286,545 thousand in 2025, highlighting cost management efforts[16]. - The company reported a total revenue of $396,855 thousand for the three months ended March 31, 2025, compared to $395,497 thousand for the same period in 2024, indicating a marginal increase of 0.34%[22]. User Engagement - Monthly active users reached 591 million in March 2025, while daily active users were 261 million[4]. - The company expects to continue enhancing its advertising and marketing solutions to improve user engagement and relevance[13]. Assets and Liabilities - Cash, cash equivalents, and short-term investments totaled $2.08 billion as of March 31, 2025, down from $2.35 billion at the end of 2024[7]. - As of March 31, 2025, total assets increased to $6,658,879 thousand from $6,504,499 thousand as of December 31, 2024, representing a growth of approximately 2.37%[18]. - Total liabilities increased from $2,925,613 thousand as of December 31, 2024, to $3,150,661 thousand as of March 31, 2025, marking an increase of approximately 7.68%[19]. - Long-term investments increased from $1,389,199 thousand as of December 31, 2024, to $1,408,323 thousand as of March 31, 2025, reflecting a growth of approximately 1.01%[18]. - The company's cash and cash equivalents decreased from $1,890,632 thousand as of December 31, 2024, to $1,205,765 thousand as of March 31, 2025, a decline of about 36.3%[18]. Management Insights - Weibo's management emphasizes the importance of non-GAAP financial metrics to provide a clearer picture of ongoing operational performance[11]. - The number of shares used to calculate diluted earnings per share attributable to Weibo shareholders increased from 263,644 thousand to 266,494 thousand from March 31, 2024, to March 31, 2025[21]. - Adjusted EBITDA for the three months ended March 31, 2025, was $139,720 thousand, compared to $133,025 thousand for the same period in 2024, showing an increase of about 5.7%[21]. - Non-GAAP operating profit for the three months ended March 31, 2025, was $129,479 thousand, compared to $125,808 thousand for the same period in 2024, reflecting a growth of approximately 1.33%[20]. - The company's net income attributable to Weibo shareholders for the three months ended March 31, 2025, was $106,964 thousand, up from $49,438 thousand for the same period in 2024, indicating a significant increase of 116%[20]. - Advertising revenue from non-Alibaba advertisers decreased slightly from $316,400 thousand in Q1 2024 to $296,494 thousand in Q1 2025, a decline of about 6.3%[22].