Sinolink Securities: Maintains "Outperform" rating on Bilibili-W (09626), target price of HK$176.

According to the Wise Finance APP, Zhongjin released a research report stating that it maintains the Non-GAAP net profit forecast for Bilibili-W (09626) for the years 2025/2026. Currently, the Hong Kong stock market is trading at 23.9/17.9 times the 2025/2026 Non-GAAP P/E, while the US stock market is trading at 23.8/17.8 times the 2025/2026 Non-GAAP P/E. The rating remains outperforming the industry, with a target price of HK$176 per share for Hong Kong stocks and $23 per share for US stocks, corresponding to 30/23 times the 2025/2026 Non-GAAP P/E for Hong Kong/US stocks. The potential upside for Hong Kong/US stocks is 27.8%/25.5%.