事件:5月27日,公司公告2025Q1季报,本季度实现营收326.08亿元(YoY+10.9%,QoQ-7.8%),毛利率为54.6%,实现营业利润42.59亿元,净利润39.79亿元,净利率为12.2%,经调整净利润45.80亿元。我们的观点:1、运营情况:在精细化用户增长策略得以良好执行和算法策略进一步升级的赋能下,平台用户数据持续优化,2025Q1MAU和DAU分别为7.12亿和4.08亿,...
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