BOCOMI commented in a research report that investment sentiment in China's Internet industry is picking up on the back of results certainty. As of 31 May, the CSI Overseas China Internet Index rose 7% MoM, outperforming the HSI.
Among them, BOCOMI expected the "Dungeon & Fighter Mobile" game by TENCENT (00700.HK) +15.200 (+4.225%) Short selling $1.77B; Ratio 16.957% to exceed its first-month sales forecast. Game revenue growth is forecasted to accelerate in 2Q, driven by new games and the resumption of growth in a number of existing games such as "Honor of Kings". Video Accounts is estimated to see a 16% YoY increase in advertising revenue in 2Q as merchants and user ecosystems further establish, boosting monetisation.
On the e-commerce front, BOCOMI expected GMV and revenue of PDD (PDD.US) to hike 22% and 33% this year, GMV and CMR of BABA-SW (09988.HK) +1.750 (+2.336%) Short selling $132.58M; Ratio 2.353% 's Taobao Tmall to increase by 4% and 3% in 1FQ25, and earnings of JD-SW (09618.HK) +2.900 (+2.546%) Short selling $309.16M; Ratio 25.736% to maintain healthy growth this year.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-03 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
