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Full text | Bilibili Q3 earnings conference transcript: In the first nine months, nearly 2.7 million content creators earned income on Bilibili.
On the evening of November 14, Beijing time, bilibili (NASDAQ: BILI; HKEX: 9626) released its financial report for the third quarter of 2024, ending September 30: total net revenue was 7.31 billion yuan, a year-on-year increase of 26%. The net loss was 79.8 million yuan, narrowing by 94% year-on-year. Adjusted net income, not in accordance with Generally Accepted Accounting Principles in the usa, was 0.2359 billion yuan, while the net loss in the same period last year was 0.8635 billion yuan. After the financial report was released, bilibili's chairman and CEO Chen Rui, vice chairman and chief operation officer Li Ni, and CFO Fan Xin, along with other company executives, attended the event.
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Goldman Sachs: Maintain tencent's "buy" rating, target price raised to 542 Hong Kong dollars.
Goldman Sachs released a research report stating that it maintains a "buy" rating for Tencent (00700) and raises the target price by 4%, from 521 HKD to 542 HKD. Goldman Sachs expects that amid a challenging macroeconomic backdrop, Tencent remains one of the internet plus-related giants in China with the most significant and sustainable profit growth. The report stated that although Tencent's future profit margin expansion will be more moderate, supported by the growth drivers from various games, WeChat advertising, e-commerce, AI, and ongoing cost control, Goldman Sachs currently projects Tencent's revenue growth at 8% and 9% over the next two years, with earnings per share increasing by 41% and 14%, respectively.
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After the release of the CPI data, interest rate traders bet that the probability of the Federal Reserve lowering interest rates next month is 80%.
USA Treasury bonds rose, with traders adding bets on a 25-basis-point rate cut by the Federal Reserve next month after the release of inflation data. The 2-year Treasury yield fell by as much as 10 basis points to 4.2%. The 10-year Treasury yield dropped by approximately 7 basis points to 4.30%. Interest rate swap traders increased the probability of another Fed rate cut on December 18th from around 56% earlier in the day to about 80%, expecting a total rate cut of nearly 62 basis points by the end of June. Lindsay Rosner, Head of Multi-Asset Fixed Income Investments at Goldman Sachs Asset Management, stated that “core inflation rates will prompt the Federal Reserve to continue with the rate cuts in December.”
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Goldman Sachs: Raised Yue Yuen Ind's target price to 21 Hong Kong dollars, lowered Pou Sheng Int'l to 0.87 Hong Kong dollars, both ratings are maintained as "buy".
Goldman Sachs released a research report stating that the target price of Yue Yuen Ind (00551) has increased by 22.1%, from HK$17.2 to HK$21, while lowering the target price of Pou Sheng Int'l (03813) by 13%, from HK$1 to HK$0.87. Both maintain a 'buy' rating. The bank mentioned that the forecasted net profit for Pou Sheng Int'l for 2024-2026 has been lowered by 19-31%, mainly due to pressures on sales, gross margin, and operating profit margin. As for Yue Yuen Ind's original equipment manufacturing (OEM) business, sales, gross margin, and operating profit margin forecasts have been slightly increased, thus raising the forecast for 2024-2026.
Form 144 | Goldman Sachs(GS.US) Director Proposes to Sell 6.02 Million in Common Stocks
SEC FILLINGS DISCLOSED/ Nov 12, $GOLDMAN SACHS GROUP INC PRF 08/05/2037 (S&P GSCI ENH CO TOT RET)(GSCE.US)$、$Goldman Sachs(GS.US)$ Director Montag Thomas K. intends to sell 10,000 shares of its
Form 144 | Goldman Sachs(GS.US) Insider Proposes to Sell 6.02 Million in Common Stocks
SEC FILLINGS DISCLOSED/ Nov 12, $GOLDMAN SACHS GROUP INC PRF 08/05/2037 (S&P GSCI ENH CO TOT RET)(GSCE.US)$、$Goldman Sachs(GS.US)$ Insider Montag Thomas K. intends to sell 10,000 shares of its