Hot Stock to watch: Bilibili Inc – ADR (NASDAQ: BILI)

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Bilibili Inc – ADR (NASDAQ: BILI) stock rose over 3.6% in the pre market session on May 14th, 2019 (Source: Google finance) after the company adjusted net loss increased to RMB145.4 million (US$21.7 million) compared to RMB3.2 million in the same period of 2018. However, the company posted better than expected results for the first quarter of FY 19. As of March 31, 2019, the Company had cash and cash equivalents, as well as time deposits of RMB3.5 billion (US$519.1 million), compared to RMB4.3 billion as of December 31, 2018. Average monthly active users (MAUs) reached 101.3 million, mobile MAUs reached 88.6 million, which represents increases of 31% and 39% from the same period in 2018, respectively.

Meanwhile, on April 5th, 2019, BILI had completed the offering of US$500 million in aggregate principal amount of convertible senior notes due 2026, with interest at a rate of 1.375% per year, that includes US$70 million in aggregate principal amount to cover overallotments. The company had also closed the concurrent offering of 14,173,813 American depositary shares (the “ADSs”), at US$18.00 per ADS on the same day. Further, certain selling shareholders had completed the offering of 6,526,187 ADSs of the company at the same price. The company has received a total of approximately US$733.9 million of net proceeds from the Primary Offering and the Notes, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the company. The company plans to use the new proceeds from the Primary Offering and the Notes for enriching contents offerings, investing in research and development, and other general corporate purposes.

BILI in the first quarter of FY 19 has reported the adjusted loss a per share of 7 cents, beating the analysts’ estimates for the adjusted loss per share of 13 cents, according to Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 58 percent to $203.54 million in the first quarter of FY 19, beating the analysts’ estimates for revenue by 5.68%. The revenues from mobile games grew 27% to RMB873.5 million (US$130.2 million) due to the increasing popularity of mobile game Fate/Grand Order, particularly with the major content update Chapter 2.0, which was revealed in early February 2019. Revenues from live broadcasting and VAS  grew 205% to RMB291.7 million (US$43.5 million) and the Revenues from advertising rose 60% to RMB112.5 million (US$16.8 million). The revenues from e-commerce and others grew by whopping 621% to RMB95.9 million (US$14.3 million)

For the second quarter of 2019, the company expects the net revenues to be in the range of RMB1.45 billion and RMB1.49 billion.

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