Guosen Securities: Maintains "Outperform" rating on Bilibili-W (09626.HK), accelerating profitability in 2025 Q3.

Intelligence Finance APP learned that Guosen Securities released a research report stating that it is optimistic about the commercial potential of Bilibili-W (09626), maintaining an "outperform" rating. Bilibili's revenue reached 7.69 billion yuan, with a significant year-on-year increase in net profit, and profitability accelerated. User activity reached a historical high, driving excellent performance in the advertising business, with a 23% year-on-year growth in revenue for the quarter. Among them, AI-generated advertising materials accounted for 55%. In terms of the gaming business, the new game "Escape Duckov" has exceeded 3 million copies in global sales, demonstrating a good growth momentum.