Gelonghui October 18th | Bilibili (BILI.US) pre-market trading rose by over 7.8%, to $20.98. On the news front, Bocom Intl released research reports indicating that Bilibili is expected to announce its third-quarter performance at the end of next month. With high expectations for the strong performance of the new game 'Three Kingdoms: Strategy Conquest,' both revenue and profits are expected to exceed market expectations. Current forecasts suggest a 28% annual revenue growth, significantly higher than the market's average expectation of about 5%. Revenue from mobile games and advertising business is expected to grow by 99% and 28% respectively. Adjusted net income margin could reach 5.5%, while the gross margin is expected to increase to 35.3%. The bank maintains its 'buy' rating with a target price raised to HK$178. In addition, Bocom Intl released a research report, raising its third-quarter revenue forecast for Bilibili by 1% to 7.3 billion yuan, a 26% year-on-year increase, mainly due to higher-than-expected revenue from its game 'Three Strategies.' The gross margin increased by 9 and 4 percentage points annually and quarterly to 34%, primarily due to the continuous release of operational leverage, as well as the increase in the proportion of game and advertising revenue. The bank raised Bilibili's target price from HK$155 to HK$194, maintaining a 'buy' rating. (Gelonghui)