HK Stock Market Move | BILIBILI-W (09626) is now up over 4%, quarterly adjusted net profit exceeds expectations, and achieves annual profit for the first time.

BILIBILI-W (09626) rose more than 4% to HK$205.8 by the time of publication, with a 4.15% increase and a trading volume of HK$800 million. On the news front, Bilibili recently released its financial report for the fourth quarter of 2025, with a revenue of 8.32 billion yuan, an 8% year-on-year increase; adjusted net profit of 878 million yuan, a 94% year-on-year increase. The total annual revenue reached 30.35 billion yuan, a 13% year-on-year increase; adjusted net profit of 2.59 billion yuan, marking the first profitable year. CMSC released a research report stating that the company's exclusive agent SLG game "Three Kingdoms: Strategy for the World" performed excellently after its launch in 2024, and upcoming games such as "Escape from Duck Cove," "Shining! Lumi," and "Three Kingdoms Hundred Medals" are expected to continue contributing to revenue growth. The increase in advertising share across multiple industries and strong commercial potential suggest a positive outlook for the company's profitability improvement through accelerated commercialization and operational leverage release.