HK Stock Market Move | BILIBILI-W(09626) rose by more than 7% with the growth expanding, self-developed new games gaining popularity. New games are expected to drive potential upward business.

BILIBILI-W (09626) expanded by more than 7%, as of the time of writing, it increased by 6.82% to HK$205.2, with a trading volume of HK$10.58 billion. On the news front, the self-developed PvE new game "Escape from Tarkov" launched by Bilibili recently has become popular, with sales exceeding 3 million copies and a peak of over 300,000 simultaneous online players. Guosheng released a research report stating that Bilibili's gaming business may expand "Escape from Tarkov" from PC to consoles and mobile, and continue to benefit from mining this IP. "Three Kingdoms: Hundred Generals" is expected to go online in the first quarter of 2026, further enriching the game matrix. Goldman Sachs stated that Bilibili is maintaining a high-quality content ecosystem, strong user connections, and enhancing monetization through better advertising conversion and AI technology. The upcoming new game product pipeline next year is expected to drive potential business growth. The bank maintains a "buy" rating, with an H-share target price raised from HK$234 to HK$240 and a US stock target price raised from $30 to $30.8.