SE Latest Report

Performance Review

Sea Group (Stock Symbol: SE) recorded a total operating revenue of USD4.95 billion as of December 31, 2024, up approximately 36.67% from USD3.617 billion in 2023. This growth reflects the company's positive performance in sales and market expansion, indicating a good business development trend.

Key Data from the Financial Report

1. The operating revenue of Sea Group increased by 36.67% in 2024, demonstrating a strong market performance.

2. Key drivers include the growth of e-commerce business, lower logistics costs, and the recovery and growth of gaming and digital finance businesses.

3. The e-commerce business revenue reached USD2.7 billion in the first quarter of 2024, up 33% year-on-year, benefiting from the easing of market competition.

4. The digital finance business achieved revenue of USD500 million, up 21% year-on-year, mainly driven by credit business.

5. Sea Group has a clear competitive advantage in the industry, enabling it to achieve higher growth in the overall market recovery.

Peer Comparison

1. Industry-wide Analysis: The overall operating revenue of Sea Group's industry generally shows a growth trend, reflecting the industry's recovery and market warming. In this environment, Sea Group achieved significant growth, demonstrating its competitiveness in the industry.

2. Peer Evaluation Analysis: Compared with other companies in the same industry, Sea Group's revenue growth is more significant, and other competitors' growth may be limited, making Sea Group occupy a more advantageous position in the market.

Summary

Sea Group achieved significant revenue growth in 2024, mainly driven by various market forces, including strong e-commerce performance and cost optimization. With the industry's recovery and changes in the competitive landscape, Sea Group shows continuous growth potential.

Opportunities

1. Continue to optimize advertising and logistics services on the e-commerce platform to further enhance market share.

2. Expand digital financial services, leveraging the growth opportunity of credit business to attract more customers.

3. Launch new products to enhance user stickiness, especially in the digital entertainment field.

4. Seize the momentum of macroeconomic recovery to enhance overall operating revenue.

Risks

1. Intensified competition, especially from other e-commerce platforms, may affect revenue growth.

2. Fluctuations in logistics costs may threaten profit margins.

3. The performance of the gaming business still has uncertainties, and it is necessary to continuously focus on user activity and revenue.

4. Uncertainty in the overall economic environment may affect consumer spending and company performance.