How did SE's cost control improve in recent quarters?

Sea's cost control has shown improvement in recent quarters, as evidenced by the increasing gross margin and operating margin, and the stabilizing net margin:

|code|Ticker|Name|Date|Gross Profit Margin|Operating Profit Margin|Net Profit Margin|market_code|
|---|---|---|---|---|---|---|---|
|SE|SE.N|Sea|2024 Q1|41.6072|3.97632345730652|-0.6159|169|
|SE|SE.N|Sea|2024 Q2|41.6189|4.151595562349055|0.7547|169|
|SE|SE.N|Sea|2024 Q3|42.1219|5.048161537664404|1.7712|169|
|SE|SE.N|Sea|2024 Q4|42.8368|5.883685399158352|2.6625|169|

1. **Gross Margin Improvement**: The gross margin for Sea has shown an upward trend, from 41.62% on June 30, 2024, to 42.12% on September 30, 2024, and reaching 42.84% by December 31, 2024. This indicates a strengthening profitability trend for the company, which is a positive sign for improved cost control.
2. **Operating Margin Improvement**: Similarly, the operating margin for Sea has also improved, from 4.15% on June 30, 2024, to 5.05% on September 30, 2024, and reaching 5.88% by December 31, 2024. This suggests that Sea has been effective in managing its operating expenses relative to its revenue, which is a critical aspect of cost control.
3. **Net Margin Stabilization**: Although the net margin has not shown the same upward trend as the gross and operating margins, it has stabilized at 1.77% on June 30, 2024, and has not deteriorated further. This stabilization, coupled with the improvements in gross and operating margins, indicates that Sea's cost control measures are having a positive impact on its net profitability.

Overall, Sea's cost control has improved in recent quarters, as demonstrated by the increasing gross and operating margins and the stabilization of the net margin. These improvements are indicative of effective cost management strategies and bode well for the company's future financial performance.