$Sea Ltd(SE)$ It was classified as a gaming stock during the stocktaking on April 17, 2022, but was excluded due to poor profitability. So far, the stock price has shrunk by 57%. The Singaporean company listed in 2017 is mainly engaged in e-commerce and gaming businesses. 67% of the market is in Southeast Asia. The current price is 44.99. Revenue has grown rapidly in the past five years, and the growth rate will slow down to 25.1% in 2022, while operating profit and net profit will continue. Huge losses. In 2022, the interest burden will be converted into interest income. Gross profit margin has increased to 41.7% in the past five years. Revenue increased by 5% in the first three quarters of 2023. Operating profit turned a loss to 400 million due to a significant drop in costs and expenses, and net profit reached 274 million. However, according to the quarterly report, costs and expenses increased again in the third quarter, and the net profit returned to a loss. At present, it seems to be stuck in the dilemma of controlling expenses to limit growth, and failing to control expenses cannot turn around losses.