Core Viewpoint - Bilibili-W (09626) shares rose nearly 5%, reaching 216 HKD, with a trading volume of 731 million HKD, following the approval of 156 games by the National Press and Publication Administration, indicating a positive trend in the gaming industry [1] Industry Summary - The recent approval of 156 games, including 145 domestic and 11 imported titles, marks the third month this year with over 150 game licenses issued, suggesting a robust recovery in the gaming sector [1] - According to Open Source Securities, the current gaming industry cycle may exceed market expectations due to supply-demand resonance, and the sector's valuation remains attractive [1] Company Summary - Bilibili's mobile gaming revenue for the first half of the year reached 3.34 billion CNY, a year-on-year increase of 68%, driven by the success of "Three Kingdoms: Strategize the World" [1] - The company's evergreen titles, "Fate/Grand Order" and "Azur Lane," continue to perform steadily [1] - In Q2 2025, Bilibili's gaming business generated 1.61 billion CNY, a 60% year-on-year growth, primarily due to the strong performance of "Three Kingdoms" [1] - Bilibili is currently piloting a mini-game version of "Three Kingdoms" and plans to launch an international version in the second half of 2025 [1] - The company has 4 to 5 games awaiting approval, including a casual game based on the Three Kingdoms IP [1]

Group 1 - Bilibili-W (09626) shares increased by nearly 5%, reaching 216 HKD with a trading volume of 731 million HKD [1] - On September 24, the National Press and Publication Administration released a new batch of gaming licenses, approving 156 games, including 145 domestic and 11 imported titles, marking the third month this year with over 150 licenses issued [1] - According to Open Source Securities, the current gaming industry cycle may exceed market expectations due to supply-demand resonance, and the sector's valuation remains attractive, suggesting continued investment in gaming [1] Group 2 - Guosen Securities reported that Bilibili's mobile gaming revenue for the first half of the year reached 3.34 billion CNY, a year-on-year increase of 68%, driven by the game "Three Kingdoms: Strategy of the World" [1] - Evergreen products such as "Fate/Grand Order" and "Azur Lane" continue to perform steadily [1] - In Q2 2025, Bilibili's gaming business generated 1.61 billion CNY in revenue, a 60% year-on-year increase, primarily due to the strong performance of "Three Kingdoms" [1] - The company is currently piloting a mini-game version of "Three Kingdoms" and plans to launch an international version in the second half of 2025 [1] - Bilibili has 4 to 5 games awaiting approval, including a casual game based on the Three Kingdoms IP [1]

Group 1 - The National Press and Publication Administration approved 145 domestic online games as of September 24, 2025, indicating a positive trend in the gaming industry [1] - The CSI Hong Kong-Shenzhen Online Consumption Theme Index (931481) rose by 0.51% as of September 25, 2025, with notable increases in stocks such as Perfect World (up 4.72%) and Kying Network (up 3.77%) [1] - The Online Consumption ETF Fund (159793) increased by 1.21%, reaching a latest price of 1.17 yuan, and has seen a cumulative rise of 4.81% over the past two weeks [1] Group 2 - As of August 29, 2025, the top ten weighted stocks in the CSI Hong Kong-Shenzhen Online Consumption Theme Index accounted for 51.84% of the index, with Tencent Holdings and Alibaba-W being the top two [2] - The weightings of the top ten stocks include Tencent Holdings at 9.65%, Alibaba-W at 9.25%, and Meituan-W at 8.37%, reflecting their significant influence on the index [4]

I really like YouTube's thesis, and even though you can't invest directly in the company, you can do so through Alphabet ( GOOGL ) ( GOOG ). The whole story of consolidation, innovation, and adaptation toEquity Research Analyst with a broad career in the financial market, covered both Brazilian and global stocks. As a value investor, my analysis is primarily fundamental, focusing on identifying undervalued stocks with growth potential. Feel free to reach out for collaborations or to connect!Analyst’s Disclo ...

I really like YouTube's thesis, and even though you can't invest directly in the company, you can do so through Alphabet ( GOOGL ) ( GOOG ). The whole story of consolidation, innovation, and adaptation toEquity Research Analyst with a broad career in the financial market, covered both Brazilian and global stocks. As a value investor, my analysis is primarily fundamental, focusing on identifying undervalued stocks with growth potential. Feel free to reach out for collaborations or to connect!Analyst’s Disclo ...

Core Viewpoint - The report from Guosen Securities highlights the rapid advancement of domestic 3D models and lightweight AI models, with significant developments from Tencent, Alibaba Cloud, and Baidu, alongside a strong box office performance for the film "731" [1][3]. Group 1: Industry Performance - The media sector saw a weekly increase of 0.38%, outperforming the CSI 300 index which fell by 1.01%, but underperforming the ChiNext index which rose by 1.22% [3]. - The top gainers in the media sector included Jishi Media, Guomai Culture, and Liou Shares, while the biggest losers were Happy Blue Ocean and Shanghai Film [3]. Group 2: Key Developments - Tencent launched the mixed Yuan 3D 3.0 model, enhancing modeling precision with its 3D-DiT grading carving technology and introduced the mixed Yuan 3D Studio platform to improve production efficiency [3]. - Alibaba Cloud open-sourced the Tongyi DeepResearch model, achieving state-of-the-art results with only 30 billion parameters [3]. - Baidu's new model ERNIE-4.5-21B-A3B-Thinking topped the HuggingFace leaderboard [3]. - The film "731" grossed nearly 1 billion yuan within three days of its release [3][4]. Group 3: Investment Recommendations - The company maintains a positive outlook on the gaming sector's new product cycle and the potential recovery of the film industry, emphasizing the importance of AI applications [5]. - Recommended stocks in the gaming sector include Kaiying Network, Gigabit, and Xindong Company [5]. - In the media sector, companies like Focus Media and Bilibili are highlighted due to expected growth in advertising spending [5]. - For the film content sector, attention is drawn to Wanda Film and Huace Film for potential supply-side improvements [5]. - The report also suggests focusing on high-dividend, undervalued state-owned publishing companies [5]. Group 4: Emerging Trends - The industry continues to favor high-demand IP toys and AI applications in their early stages [2]. - Recommended stocks in the IP toy sector include Pop Mart, Zhejiang Digital Culture, and Yaoji Technology [2]. - Key application areas for AI include gaming, toys, advertising, education, e-commerce, and social media, with specific focus on 2B/2G and 2C opportunities [2].

Group 1 - US-listed Chinese stocks experienced a pre-market rally, with Alibaba rising by 9% [1] - Baidu saw an increase of 5% in pre-market trading [1] - JD.com gained 3% in the same period [1] Group 2 - Bilibili and NIO both rose by 2% [1] - Pinduoduo and Trip.com increased by 1% [1] - BeiGene saw a modest rise of 0.5% [1]

Group 1 - U.S. stock market experienced a significant drop on September 23, with major indices closing lower: Dow Jones down 0.19%, Nasdaq down 0.95%, and S&P 500 down 0.55% [1] - Major tech stocks saw declines, with Oracle down over 4%, Amazon down over 3%, Nvidia down over 2%, and Microsoft down over 1% [1] - The Nasdaq Golden Dragon China Index fell by 2.22%, with notable declines in Chinese concept stocks: Baidu down over 8%, Zhihu down over 5%, Bilibili down over 4%, and New Oriental and JD down nearly 3% [1] Group 2 - Federal Reserve Chairman Jerome Powell indicated increased risks in the job market, which influenced the Fed's recent decision to lower interest rates [1] - Powell described the Fed's policy shift as moving towards a "neutral" stance, emphasizing that there is no preset direction for future policies [1] - Current inflation levels remain slightly above target, with the August core PCE inflation rate expected to be 2.3%, primarily driven by tariff impacts rather than widespread inflationary pressures [1] Group 3 - Powell noted that some asset prices are relatively high compared to historical levels, with stock price valuations appearing quite elevated based on various indicators [1] - Signs of slowing consumer spending and weakened business confidence were highlighted, alongside a decrease in labor market vitality [1] - Powell anticipates that tariffs may lead to a temporary rise in inflation over the next few quarters, but the Fed aims to prevent transient price increases from becoming a persistent issue [1] Group 4 - International gold prices increased, with COMEX gold futures rising by 0.58% to $3796.9 per ounce, and COMEX silver futures up by 0.12% to $44.265 per ounce [2]

纳斯达克中国金龙指数开盘走低，现跌1%。百度跌超4%，哔哩哔哩跌近3%，京东跌超1%，小鹏汽车 涨超1%。 ...

每经AI快讯，9月23日，纳斯达克中国金龙指数开盘走低，现跌1%。百度跌超4%，哔哩哔哩跌近3%， 京东跌超1%，小鹏汽车涨超1%。 ...