CompetitionAnalyst expects the competition in the online video sector to remain intense, leading to a more conservative view on future revenue and earnings recovery.
Financial PerformanceTotal revenue declined by 10% YoY to RMB7.2bn, in line with Bloomberg consensus and our estimate.
Online AdvertisingOnline advertising revenue decreased by 20% YoY to RMB1.3bn in 3Q24, primarily owing to the decline in brand advertising revenue amid macro uncertainty.