Bilibili's 15min chart shows MACD Death Cross, KDJ Death Cross

Based on Bilibili's 15-minute chart, the MACD indicator has formed a death cross, and the KDJ indicator has also crossed below the 20-level, indicating a potential downward trend in the stock price. The momentum of the stock price is shifting towards the downside and may continue to decrease.

Bilibili, a leading online entertainment platform in China, has reported its third quarter financial results, showcasing significant growth and improved commercialization efficiency. The company's net revenue for the period ending September 30, 2023, reached 7.306 billion yuan (1.041 billion USD), marking a 26% year-on-year increase [1]. This robust performance was driven by substantial growth in revenue from mobile games and advertising, which increased by 84% and 28% respectively.

Key financial highlights include:
- Gross Profit: 2.547 billion yuan (0.363 billion USD), up 76% year-on-year.
- Gross Margin: 34.9%, a significant improvement over the 25.0% reported in the same period last year.
- Adjusted Net Income: 0.236 billion yuan, a 137.35% year-on-year increase.

Bilibili's chairman and CEO, Chen Rui, highlighted the company's strong user engagement, with daily active users reaching 0.1073 billion, up 4.38% year-on-year, and monthly active users reaching 0.348 billion, setting new historical highs. The average daily usage time also increased to 106 minutes, an improvement of 6 minutes compared to the same period last year [1].

Despite the strong revenue growth, Bilibili's cost of goods sold and operating expenses remained stable compared to the same period last year. The cost of goods sold was 4.758 billion yuan, an increase of 9% year-on-year, primarily due to higher revenue sharing costs. Operating expenses totaled 2.614 billion yuan, with sales and marketing expenses increasing by 21% year-on-year. Research and development expenses decreased by 15% year-on-year, primarily due to the termination of several game projects [1].

In a notable move, Bilibili announced a share buyback plan, under which the company may repurchase up to 0.2 billion USD of publicly traded securities over the next 24 months [1]. This initiative aims to enhance shareholder value by reducing the number of outstanding shares.

The company's stock price reacted to the financial report, initially rising sharply before falling back, now down more than 5% from its pre-market high. Technical indicators such as the MACD and KDJ suggest a potential downward trend in the stock price, indicating a shift in momentum towards the downside [2].

References:
[1] https://www.moomoo.com/news/post/37806012/record-tr4cking-news-default
[2] (Provided chart and technical analysis)