从上图走势来看，哔哩哔哩港股今日走势延续美股的大跌。哔哩哔哩美股(bili)收跌12.60%，报收18.59美元。① How was bilibili's overall performance in the third quarter? ② What is the specific content of the cooperation agreement between bilibili and Tencent? ③ What impact will these agreements have on bilibili's financial situation in the next few years?
Financial Association News on November 15 (Editor: Hu Jiarong) Today, bilibili-W (09626.HK) announced its third-quarter performance, achieving profit for the first time in the quarter. However, the stock price experienced a large drop, falling more than 13% at one point during the day. As of the time of publication, it is down 10.59%, at 145.20 Hong Kong dollars.
Note: The trend of bilibili's Hong Kong stocks
Looking at the trend in the chart above, bilibili's Hong Kong stock performance today continues the sharp drop in the US stock market. Bilibili's US stock (bili) fell by 12.60%, closing at $18.59.
Note: The trend of bilibili's US stocks
bilibili's third-quarter performance is positive
It is worth noting that bilibili's third-quarter performance is positive, but the company's stock price once dropped by over 13%. The discrepancy between stock price performance and company performance growth has attracted market attention.
According to the announcement, bilibili's total net revenue in the third quarter reached 7.306 billion yuan, an increase of 26% compared to the same period last year.
In the field of mobile games, bilibili's revenue reached 1.823 billion yuan, a significant increase of 84% year-on-year. The advertising business also performed well, with a revenue of 2.094 billion yuan, a 28% year-on-year increase.
In terms of profitability, bilibili's gross profit reached 2.547 billion yuan, an increase of 76% year-on-year. The gross margin also increased from 25.0% in the same period last year to 34.9%, demonstrating a significant improvement in the company's operational efficiency. Although the net loss was 0.079 billion yuan, compared to the same period last year, the loss has narrowed significantly by 94%.
Even more encouraging is the adjusted net income reaching 0.236 billion yuan, while the adjusted net loss for the same period last year was 0.863 billion yuan, marking the first profitable quarter.
The sharp drop in stock price may be related to cooperation with Tencent.
bilibili announced yesterday a series of cooperation agreements with Tencent's affiliated companies, including payment services, cloud computing services, and general business cooperation. Under the payment services agreement, Tencent will provide payment processing services for bilibili and set the annual service fee caps from 2025 to 2027 at 83 million yuan, 0.11 billion yuan, and 1.4 billion yuan respectively.
Looking back over the past three years (2021 to 2023), the service fees paid by bilibili to Tencent were 24.8 million yuan, 31.7 million yuan, and 47.80 million yuan, showing an increasing trend year by year.
Some analysts point out that investors may be cautious about the company's upcoming strategic cooperation with Tencent. bilibili will need to pay Tencent 83 million yuan, 0.108 billion yuan, and 1.4 billion yuan in service fees from 2025 to 2027, and this expenditure will directly impact the company's profit performance.
