Intrinsic value of Bilibili ADR - BILI

Previous Close

$14.47

  Intrinsic Value

$139.54

stock screener

  Rating & Target

str. buy

+864%

Previous close

$14.47

 
Intrinsic value

$139.54

 
Up/down potential

+864%

 
Rating

str. buy

We calculate the intrinsic value of BILI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  597
  922
  1,379
  2,001
  2,824
  3,882
  5,210
  6,842
  8,804
  11,120
  13,808
  16,882
  20,348
  24,210
  28,467
  33,114
  38,144
  43,550
  49,323
  55,454
  61,934
  68,758
  75,920
  83,417
  91,248
  99,413
  107,916
  116,763
  125,963
  135,524
Variable operating expenses, $m
  402
  617
  920
  1,331
  1,875
  2,576
  3,455
  4,534
  5,832
  7,365
  9,136
  11,170
  13,464
  16,019
  18,836
  21,910
  25,239
  28,816
  32,635
  36,692
  40,980
  45,495
  50,234
  55,194
  60,375
  65,778
  71,404
  77,258
  83,345
  89,671
Fixed operating expenses, $m
  159
  163
  167
  170
  174
  178
  182
  186
  190
  194
  198
  203
  207
  212
  216
  221
  226
  231
  236
  241
  246
  252
  257
  263
  269
  275
  281
  287
  293
  300
Total operating expenses, $m
  561
  780
  1,087
  1,501
  2,049
  2,754
  3,637
  4,720
  6,022
  7,559
  9,334
  11,373
  13,671
  16,231
  19,052
  22,131
  25,465
  29,047
  32,871
  36,933
  41,226
  45,747
  50,491
  55,457
  60,644
  66,053
  71,685
  77,545
  83,638
  89,971
Operating income, $m
  35
  142
  293
  500
  774
  1,128
  1,574
  2,122
  2,782
  3,561
  4,474
  5,509
  6,677
  7,980
  9,415
  10,983
  12,680
  14,504
  16,452
  18,521
  20,708
  23,011
  25,429
  27,960
  30,603
  33,360
  36,231
  39,218
  42,324
  45,553
EBITDA, $m
  48
  158
  313
  526
  808
  1,173
  1,631
  2,194
  2,873
  3,674
  4,605
  5,670
  6,872
  8,211
  9,687
  11,299
  13,044
  14,920
  16,923
  19,050
  21,300
  23,668
  26,154
  28,757
  31,475
  34,310
  37,262
  40,334
  43,527
  46,847
Interest expense (income), $m
  0
  0
  -3
  19
  50
  93
  149
  222
  312
  424
  558
  717
  901
  1,111
  1,349
  1,613
  1,904
  2,222
  2,567
  2,937
  3,332
  3,752
  4,195
  4,662
  5,153
  5,666
  6,202
  6,761
  7,343
  7,948
  8,578
Earnings before tax, $m
  35
  145
  274
  449
  681
  979
  1,352
  1,809
  2,357
  3,003
  3,757
  4,608
  5,566
  6,631
  7,802
  9,078
  10,457
  11,937
  13,515
  15,189
  16,956
  18,816
  20,767
  22,807
  24,938
  27,158
  29,470
  31,875
  34,376
  36,975
Tax expense, $m
  10
  39
  74
  121
  184
  264
  365
  489
  637
  811
  1,014
  1,244
  1,503
  1,790
  2,107
  2,451
  2,823
  3,223
  3,649
  4,101
  4,578
  5,080
  5,607
  6,158
  6,733
  7,333
  7,957
  8,606
  9,281
  9,983
Net income, $m
  26
  106
  200
  328
  497
  715
  987
  1,321
  1,721
  2,192
  2,742
  3,364
  4,063
  4,841
  5,696
  6,627
  7,634
  8,714
  9,866
  11,088
  12,378
  13,736
  15,160
  16,649
  18,204
  19,826
  21,513
  23,269
  25,094
  26,991

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  841
  1,299
  1,943
  2,819
  3,977
  5,467
  7,339
  9,636
  12,399
  15,661
  19,448
  23,777
  28,659
  34,099
  40,094
  46,639
  53,724
  61,338
  69,469
  78,104
  87,231
  96,843
  106,930
  117,489
  128,518
  140,018
  151,995
  164,456
  177,412
  190,879
Adjusted assets (=assets-cash), $m
  841
  1,299
  1,943
  2,819
  3,977
  5,467
  7,339
  9,636
  12,399
  15,661
  19,448
  23,777
  28,659
  34,099
  40,094
  46,639
  53,724
  61,338
  69,469
  78,104
  87,231
  96,843
  106,930
  117,489
  128,518
  140,018
  151,995
  164,456
  177,412
  190,879
Revenue / Adjusted assets
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
Average production assets, $m
  76
  118
  177
  256
  361
  497
  667
  876
  1,127
  1,423
  1,767
  2,161
  2,605
  3,099
  3,644
  4,239
  4,882
  5,574
  6,313
  7,098
  7,928
  8,801
  9,718
  10,677
  11,680
  12,725
  13,813
  14,946
  16,123
  17,347
Working capital, $m
  -121
  -186
  -279
  -404
  -570
  -784
  -1,053
  -1,382
  -1,778
  -2,246
  -2,789
  -3,410
  -4,110
  -4,890
  -5,750
  -6,689
  -7,705
  -8,797
  -9,963
  -11,202
  -12,511
  -13,889
  -15,336
  -16,850
  -18,432
  -20,081
  -21,799
  -23,586
  -25,444
  -27,376
Total debt, $m
  -61
  351
  930
  1,719
  2,761
  4,102
  5,787
  7,854
  10,341
  13,277
  16,685
  20,581
  24,975
  29,871
  35,267
  41,157
  47,534
  54,386
  61,704
  69,475
  77,690
  86,340
  95,419
  104,922
  114,848
  125,198
  135,977
  147,192
  158,853
  170,973
Total liabilities, $m
  757
  1,169
  1,748
  2,537
  3,579
  4,921
  6,605
  8,673
  11,159
  14,095
  17,503
  21,399
  25,793
  30,689
  36,085
  41,975
  48,352
  55,205
  62,522
  70,293
  78,508
  87,158
  96,237
  105,740
  115,666
  126,016
  136,795
  148,010
  159,671
  171,791
Total equity, $m
  84
  130
  194
  282
  398
  547
  734
  964
  1,240
  1,566
  1,945
  2,378
  2,866
  3,410
  4,009
  4,664
  5,372
  6,134
  6,947
  7,810
  8,723
  9,684
  10,693
  11,749
  12,852
  14,002
  15,199
  16,446
  17,741
  19,088
Total liabilities and equity, $m
  841
  1,299
  1,942
  2,819
  3,977
  5,468
  7,339
  9,637
  12,399
  15,661
  19,448
  23,777
  28,659
  34,099
  40,094
  46,639
  53,724
  61,339
  69,469
  78,103
  87,231
  96,842
  106,930
  117,489
  128,518
  140,018
  151,994
  164,456
  177,412
  190,879
Debt-to-equity ratio
  -0.730
  2.700
  4.790
  6.100
  6.940
  7.500
  7.890
  8.150
  8.340
  8.480
  8.580
  8.660
  8.710
  8.760
  8.800
  8.820
  8.850
  8.870
  8.880
  8.900
  8.910
  8.920
  8.920
  8.930
  8.940
  8.940
  8.950
  8.950
  8.950
  8.960
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  26
  106
  200
  328
  497
  715
  987
  1,321
  1,721
  2,192
  2,742
  3,364
  4,063
  4,841
  5,696
  6,627
  7,634
  8,714
  9,866
  11,088
  12,378
  13,736
  15,160
  16,649
  18,204
  19,826
  21,513
  23,269
  25,094
  26,991
Depreciation, amort., depletion, $m
  13
  16
  20
  26
  34
  44
  57
  73
  91
  113
  132
  161
  194
  231
  272
  316
  364
  416
  471
  530
  592
  657
  725
  797
  872
  950
  1,031
  1,115
  1,203
  1,295
Funds from operations, $m
  39
  122
  220
  354
  532
  759
  1,044
  1,393
  1,812
  2,305
  2,874
  3,525
  4,258
  5,072
  5,967
  6,943
  7,998
  9,130
  10,337
  11,618
  12,970
  14,393
  15,885
  17,446
  19,076
  20,775
  22,544
  24,384
  26,298
  28,286
Change in working capital, $m
  -45
  -66
  -92
  -126
  -166
  -214
  -268
  -330
  -396
  -468
  -543
  -621
  -700
  -780
  -860
  -939
  -1,016
  -1,092
  -1,166
  -1,238
  -1,309
  -1,378
  -1,447
  -1,514
  -1,582
  -1,649
  -1,718
  -1,787
  -1,858
  -1,931
Cash from operations, $m
  84
  188
  313
  480
  698
  973
  1,313
  1,723
  2,209
  2,773
  3,417
  4,146
  4,958
  5,852
  6,827
  7,882
  9,014
  10,222
  11,503
  12,856
  14,279
  15,771
  17,332
  18,960
  20,658
  22,425
  24,262
  26,172
  28,156
  30,217
Maintenance CAPEX, $m
  -4
  -6
  -9
  -13
  -19
  -27
  -37
  -50
  -65
  -84
  -106
  -132
  -161
  -194
  -231
  -272
  -316
  -364
  -416
  -471
  -530
  -592
  -657
  -725
  -797
  -872
  -950
  -1,031
  -1,115
  -1,203
New CAPEX, $m
  -29
  -42
  -58
  -80
  -105
  -135
  -170
  -209
  -251
  -296
  -344
  -393
  -444
  -494
  -545
  -595
  -644
  -692
  -739
  -785
  -830
  -873
  -917
  -960
  -1,002
  -1,045
  -1,088
  -1,132
  -1,177
  -1,224
Cash from investing activities, $m
  -33
  -48
  -67
  -93
  -124
  -162
  -207
  -259
  -316
  -380
  -450
  -525
  -605
  -688
  -776
  -867
  -960
  -1,056
  -1,155
  -1,256
  -1,360
  -1,465
  -1,574
  -1,685
  -1,799
  -1,917
  -2,038
  -2,163
  -2,292
  -2,427
Free cash flow, $m
  52
  140
  245
  387
  573
  810
  1,106
  1,464
  1,892
  2,393
  2,967
  3,621
  4,353
  5,163
  6,051
  7,015
  8,054
  9,166
  10,348
  11,600
  12,920
  14,306
  15,758
  17,276
  18,859
  20,508
  22,224
  24,008
  25,863
  27,790
Issuance/(repayment) of debt, $m
  -61
  412
  579
  788
  1,042
  1,341
  1,684
  2,068
  2,487
  2,936
  3,408
  3,896
  4,394
  4,896
  5,396
  5,890
  6,377
  6,853
  7,317
  7,771
  8,215
  8,650
  9,079
  9,503
  9,926
  10,350
  10,779
  11,215
  11,661
  12,120
Issuance/(repurchase) of shares, $m
  351
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  290
  412
  579
  788
  1,042
  1,341
  1,684
  2,068
  2,487
  2,936
  3,408
  3,896
  4,394
  4,896
  5,396
  5,890
  6,377
  6,853
  7,317
  7,771
  8,215
  8,650
  9,079
  9,503
  9,926
  10,350
  10,779
  11,215
  11,661
  12,120
Total cash flow (excl. dividends), $m
  342
  553
  825
  1,176
  1,616
  2,152
  2,790
  3,532
  4,379
  5,328
  6,375
  7,517
  8,747
  10,059
  11,447
  12,906
  14,431
  16,018
  17,666
  19,371
  21,135
  22,956
  24,837
  26,779
  28,785
  30,858
  33,003
  35,223
  37,524
  39,910
Retained Cash Flow (-), $m
  -377
  -46
  -64
  -88
  -116
  -149
  -187
  -230
  -276
  -326
  -379
  -433
  -488
  -544
  -600
  -654
  -709
  -761
  -813
  -863
  -913
  -961
  -1,009
  -1,056
  -1,103
  -1,150
  -1,198
  -1,246
  -1,296
  -1,347
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -36
  507
  760
  1,088
  1,500
  2,003
  2,603
  3,302
  4,103
  5,002
  5,996
  7,084
  8,259
  9,515
  10,847
  12,251
  13,722
  15,257
  16,853
  18,508
  20,222
  21,995
  23,828
  25,723
  27,682
  29,708
  31,805
  33,977
  36,228
  38,564
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -34
  464
  662
  896
  1,163
  1,454
  1,758
  2,064
  2,357
  2,622
  2,847
  3,023
  3,140
  3,194
  3,185
  3,113
  2,986
  2,810
  2,595
  2,352
  2,092
  1,825
  1,562
  1,310
  1,077
  867
  683
  526
  395
  290
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

FINANCIAL RATIOS  of  Bilibili ADR (BILI)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

BILI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BILI stock intrinsic value calculation we used $373.102932285 million for the last fiscal year's total revenue generated by Bilibili ADR. The default revenue input number comes from 0001 income statement of Bilibili ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BILI stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for BILI is calculated based on our internal credit rating of Bilibili ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Bilibili ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BILI stock the variable cost ratio is equal to 68.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $156 million in the base year in the intrinsic value calculation for BILI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Bilibili ADR.

Corporate tax rate of 27% is the nominal tax rate for Bilibili ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BILI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BILI are equal to 12.8%.

Life of production assets of 13.4 years is the average useful life of capital assets used in Bilibili ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BILI is equal to -20.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-293.1547763 million for Bilibili ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 193.118 million for Bilibili ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Bilibili ADR at the current share price and the inputted number of shares is $2.8 billion.

COMPANY NEWS

▶ Bilibili Stock Soars on $318 Million Tencent Investment   [Oct-03-18 01:33PM  InvestorPlace]
▶ Bilibili Invests in Japanese Anime Maker Fun-Media   [Sep-15-18 01:11PM  Motley Fool]
▶ The current tech bubble is a Chinese import   [Sep-10-18 06:54AM  MarketWatch]
▶ Bilibili Joins Overwatch League For 2019 Season   [Sep-07-18 08:30AM  GlobeNewswire]
▶ Who Are Bilibili Incs (NASDAQ:BILI) Major Shareholders?   [Sep-06-18 09:32AM  Simply Wall St.]
▶ Can Bilibili Finally Prove the Bears Wrong?   [Sep-02-18 07:15AM  Motley Fool]
▶ Why Bilibili Stock Popped Tuesday   [Aug-28-18 02:00PM  Motley Fool]
▶ Bilibili stock soars after earnings   [10:44AM  MarketWatch]
▶ Bilibili: 2Q Earnings Snapshot   [07:21PM  Associated Press]
▶ Bilibili Stock Has a Lot to Prove on Monday   [Aug-24-18 03:29PM  Motley Fool]
▶ Pinduoduo stock soars after IPO   [Jul-26-18 11:34AM  MarketWatch]
▶ What Does the Tencent Music IPO Mean for Apple and Spotify?   [Jul-17-18 07:00AM  InvestorPlace]
▶ Could Alibaba Stock Really Soar More Than 50%?   [Jul-10-18 02:12PM  InvestorPlace]
▶ Should You Chase Bilibilis Post-IPO Rally?   [Jun-27-18 11:11AM  Motley Fool]
▶ The Market Beast Reminds Us Not to Take Her For Granted   [Jun-21-18 01:49PM  TheStreet.com]
▶ Why Shares of BiliBili Inc. Plunged Today   [12:36PM  Motley Fool]
▶ Has iQiyi Stock Finally Hit Its Ceiling?   [Jun-20-18 11:49AM  InvestorPlace]
▶ If You Missed These Explosive China Stocks, Here's How You Could Get In   [Jun-18-18 04:07PM  Investor's Business Daily]
▶ Why Bilibili Stock Rocketed 48.6% in May   [Jun-12-18 08:49AM  Motley Fool]
▶ Can Bilibili Stock Keep Going After Last Week's 11% Pop?   [May-30-18 02:13PM  Motley Fool]
▶ Bilibili Soars On Quarterly Earnings Report As Sales Double   [May-24-18 04:12PM  Investor's Business Daily]
▶ Why Shares of Bilibili Inc. Surged Today   [01:31PM  Motley Fool]
▶ What Do Hedge Funds and Generation Z Have in Common?   [May-22-18 09:31PM  Bloomberg]
▶ Can Bilibili Stock Keep Going After Last Week's 15% Pop?   [May-14-18 02:56PM  Motley Fool]
▶ Zuora IPO Pops 43% As Cloud Software Company Raises $154 Million   [Apr-12-18 04:39PM  Investor's Business Daily]

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