The Zhitong Finance App learned that Bilibili-W (09626) rose by more than 5%. As of press release, it had risen 5.17% to HK$111.8, with a turnover of HK$353 million.

According to the news, the Goldman Sachs Research Report pointed out that Bilibili's first-quarter results were in line with expectations. Looking ahead to the second quarter of this year, management provided a positive outlook on the advertising business, indicating that the growth momentum was healthy and sustainable, and the game business returned to positive year-on-year growth. According to SPDB International, the company's 1Q24 advertising growth remained strong, with a year-on-year increase of 31%. As the company's traffic increases, advertising inventory increases, and the e-commerce ecosystem improves, the company's advertising revenue is expected to maintain a high growth rate in the second quarter, or increase 27% year-on-year.

CICC, on the other hand, said that considering revenue elasticity and cost investment in the game business, the bank raised non-GAAP net profit by 4.6% to RMB 2.156 billion in 2025. Currently, both Hong Kong stocks and US stocks are trading at 1.7 and 1.5 times the 2024 and 2025 market sales rates, maintaining the “outperforming industry” rating. Taking into account profit forecast adjustments and an upward shift in the industry valuation center, the target price for H shares was raised by 28.7% to HK$130.