Weibo Announces Results of 2024 Annual General Meeting

Rhea-AI Summary

Weibo (NASDAQ: WB, HKEX: 9898) announced the results of its 2024 Annual General Meeting held on May 22, 2024. Three key resolutions were adopted: Charles Chao, Pochin Christopher Lu, and Gaofei Wang were re-elected as directors to continue their tenure until retirement as per the company's memorandum and articles of association.

Weibo, a leading Chinese social media platform, allows users to create, share, and discover content. It generates most of its revenue through advertising and marketing services, leveraging a refined social interest graph recommendation engine for targeted marketing. The company's services cater to businesses of all sizes, promoting brand visibility and engagement through social display ads and promoted marketing offerings.

Positive

• Re-election of experienced directors (Charles Chao, Pochin Christopher Lu, Gaofei Wang) ensures continuity in leadership.
• Weibo’s refined social interest graph recommendation engine enhances marketing effectiveness.
• Weibo generates substantial revenue from advertising and marketing, indicating strong business model.
• The platform's ability to cater to businesses of all sizes broadens its market reach.

Negative

• The press release lacks specific financial data, making it difficult to assess recent financial performance.
• No mention of new business strategies or plans to combat potential market competition.
• Absence of information on user growth or engagement metrics.

BEIJING, May 22, 2024 /PRNewswire/ -- Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB and HKEX: 9898), a leading social media in China, today announced that the following proposed resolutions submitted for shareholder approval have been adopted at its 2024 annual general meeting of shareholders held today:

1. as an ordinary resolution, THAT Mr. Charles Chao shall be re-elected as a director of the Company at this annual general meeting and retain office until his retirement pursuant to the Company's memorandum and articles of association;

2. as an ordinary resolution, THAT Mr. Pochin Christopher Lu shall be re-elected as a director of the Company at this annual general meeting and retain office until his retirement pursuant to the Company's memorandum and articles of association; and

3. as an ordinary resolution, THAT Mr. Gaofei Wang shall be re-elected as a director of the Company at this annual general meeting and retain office until his retirement pursuant to the Company's memorandum and articles of association.

About Weibo

Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. Weibo generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. We have developed and have been continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

Contact:
Investor Relations
Weibo Corporation
Phone: +86 10 5898-3336
Email: ir@staff.weibo.com

View original content:https://www.prnewswire.com/news-releases/weibo-announces-results-of-2024-annual-general-meeting-302152552.html

SOURCE Weibo Corporation

FAQ

What were the key resolutions adopted at Weibo's 2024 Annual General Meeting?

The re-election of Charles Chao, Pochin Christopher Lu, and Gaofei Wang as directors.

When did Weibo hold its 2024 Annual General Meeting?

On May 22, 2024.

What is Weibo's primary source of revenue?

Weibo generates a substantial majority of its revenue from advertising and marketing services.

What stock symbols does Weibo trade under?

Weibo trades under NASDAQ: WB and HKEX: 9898.

How does Weibo enhance the effectiveness of its marketing services?

Through the use of a social interest graph recommendation engine for targeted marketing.