Brief China: Weibo (WB): Revenues Slowed Down Significantly in 4Q2018, Failed in Transition and more

In this briefing:

1. Weibo (WB): Revenues Slowed Down Significantly in 4Q2018, Failed in Transition

1. Weibo (WB): Revenues Slowed Down Significantly in 4Q2018, Failed in Transition

• The advertising revenues slowed down significantly in 4Q2018.
• We believe the content transition from politics to entertainment was not as good as the management expected.
• We believe WB will not defeat Tencent’s WeChat.
• We believe the stock price has downside of 9%.