Saudi Press

Saudi Arabia and the world
Saturday, Aug 02, 2025

China's answer to YouTube slumps on market debut

China's answer to YouTube slumps on market debut

Shares of Chinese video platform Bilibili have slumped at their launch on the Hong Kong stock exchange.

The shares opened at HKD$790 ($101.6 ; £73.7), which is 2.2% below their issue price, before slipping another 4%.

Bilibili is similar to YouTube, but the company hopes to increase revenues through Netflix-style subscriptions.

The listing is the latest in a large number of "homecomings" for US-listed Chinese companies.

The Chinese firms have sought out secondary listings in Hong Kong due to increased scrutiny from US regulators, which began under President Donald Trump.

In part, the listings are insurance against being kicked off US exchanges, a process which has already started for three Chinese telecommunications companies.

In January, The New York Stock Exchange suspended state-backed telcos China Telecom, China Unicom and China Mobile.

"Homecoming" listings have not always generated the same level of excitement from investors as some other tech listings.

Shares of the internet search giant Baidu only edged slightly higher when they listed in Hong Kong last week, while ecommerce giant JD.com also had a lacklustre secondary launch last year.

After pricing shares at $104 each last week, Bilibili raised $2.6bn, which was short of the $3bn it had anticipated.

The company's launch is the weakest major share market offering in Hong Kong since Yum China Holdings shares shed 6.3% on debut in September last year, according to Refinitiv data.

Premium content


Currently, Bilibili is a loss-making company, although its prospectus says its revenues have nearly tripled since 2018.

According to the prospectus, the video platform had 202 million monthly average users in the last quarter of 2020, an increase of 55% over the same quarter in 2019.

That's less than a third of rival video platform Kuaishou, which surged nearly a 190% at its share market launch last month before paring back some of those gains.

Bilibili also faces increasingly stiff competition from a range of other home-grown Chinese video platforms.

However, the company hopes to follow in the footsteps of Netflix, and turn a profit by offering premium content to subscribers.

Already, the company has 14.5 million subscribers, and has plans to convince more of its users to pay for content.

The company also makes money from advertising, mobile gaming and e-commerce.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
×