Bilibili Stock Surges 7% on Key Tech Hire

Bilibili Inc., a leading Chinese video-sharing platform, experienced a notable surge in its stock price, rising by over 7%. This increase followed reports of a significant addition to its technical team. The company has reportedly hired Zhang Di, a former vice president of Kuaishou and the original head of the technology department at KeLing AI, as its new technical line leader. Zhang Di's extensive experience includes serving as a senior technology expert at Alibaba, where he was responsible for the architecture of big data and machine learning for Alibaba Mama. In 2020, he joined Kuaishou as a vice president of technology, overseeing large models and multimedia technology teams.

The addition of Zhang Di to Bilibili's team comes at a time when the company is experiencing robust growth. In the first half of the year, Bilibili reported a revenue of 14.341 billion yuan, marking a 22% year-over-year increase. The company also turned a profit, with a net income of 2.1 billion yuan. User growth and engagement have been strong, with Monthly Active Users (MAU) and Daily Active Users (DAU) reaching 365 million and 108 million, respectively, representing an 8% and 6% year-over-year increase.

Analysts highlighted Bilibili's strong community and user base, noting that the company is still in the early stages of monetization. With the integration of new technologies like AI, the firm expects significant growth potential in areas such as gaming, advertising, and value-added services. The stable policy environment and the gradual advancement of commercialization efforts are expected to drive the company's profitability, with projections indicating a turn to profitability by 2025. This positive outlook has led to optimism about Bilibili's long-term development prospects, suggesting that the company's current market valuation and estimates have considerable upward potential.