WB: Expect WB To Benefit From Economic Stimulus; Positive On Outlook for 2H2023
We are neutral on WB’s 2Q23 performance but positive on the company’s outlook for 2023. The long-awaited economic stimulus policies have started to come out since late July 2023. Recently, China’s central government issued a series of intensive economic stimulus programs to boost confidence and restore economic growth. The programs not only include stimulating capital market, housing market, but also consumer and retail, and many more. Among these programs, AI and data economy are at the center. While these programs have not shown meaningful results yet, we believe they are going to gradually take effect along with more programs in 2H2023. As such, Weibo is likely to resume growth along with the meaningful recovery in China’s economy.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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