Investment thesis
Covid-19 has been compressing years of fundamental changes into months in many industries. Bilibili (BILI)'s hyper-growth is in the midst of this swift. The company has become a go-to-place for not just eSports, but also live-streaming, fashion, anime, and storytelling.
Source: Q2'2020 presentation
Not surprisingly, this hungry beast is also part of Tencent's (TCEHY) 700 strategic investments. With the rapid transformation of the industry, Tencent is working on creating a ''Twitch'' of Asia by combining Huya (HUYA) and DouYu (DOYU). As part of the giant's