Core Viewpoint - Bilibili's stock price saw a nearly 6% increase in early trading, reflecting positive market sentiment following the successful launch of its game "Escape from Duckov," which achieved over 1 million sales in its first week [1] Group 1: Stock Performance - Bilibili's stock (09626) rose by 4.96%, reaching HKD 241.2, with a trading volume of HKD 425 million [1] Group 2: Game Launch Success - The game "Escape from Duckov," developed by Bilibili's in-house team Carbonated Squad and published by Bilibili, launched globally on October 16 [1] - The game achieved over 1 million sales within its first week, indicating strong market demand and player interest [1] - The unique gameplay combining PVE looting and nurturing elements has been recognized for its high quality and differentiation, appealing to a global audience [1]

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the **China online entertainment industry**, focusing on mobile gaming, online video, and online music sectors. Mobile Gaming Insights - **Overall Market Performance**: Q3 2025 saw a **4% YoY decline** in mobile game grossing due to a high base in 2024, but a **2% QoQ increase**. This is softer than typical Q3 vs Q2 seasonality, attributed to fewer new launches in summer compared to previous years [2][10]. - **Key Players**: - **Tencent**: Achieved a **9% QoQ growth** in grossing, driven by strong performance from **Delta Force** (estimated **Rmb1.5 billion** in September). Other stable titles include **Honor of Kings**, **Peacekeeper Elite**, and **DNF Mobile** [2][9]. - **NetEase**: Reported a **5% QoQ growth** in mobile grossing, with notable contributions from **Eggy Party** and **Where Winds Meet**, although this was partially offset by declines in **Sword of Justice** and **Identity V**. It is noted that only about **40%** of NetEase's reported mobile revenue is tracked, indicating potential revenue from non-app store channels [2][6]. - **Bilibili**: Launched **Escape From Duckrov**, achieving a peak of **222,000 concurrent players**, ranking it as the **5 most played game globally on Steam** [2][6]. Online Video Sector - **Kuaishou** launched **Kling 2.5 Turbo**, which is now the **1** in text-to-video and image-to-video generation, maintaining a cost advantage over competitors like Google's Veo 3 [3][4]. - **iQiyi**: Experienced a **10% MoM/YoY decline** in MAUs but is expected to see low-single-digit QoQ growth in membership revenue for Q3, aided by summer traffic improvements [3][4]. - **Tencent Video** and **Youku** have seen some recent successes with new content releases, while **Mango TV** maintained flat MAUs YoY [3][4]. Online Music Trends - The online music industry saw a **2% YoY increase** in MAUs, but time spent remained stable. **TME** (Tencent Music Entertainment) reported a **7% decline** in combined MAUs, with QQ Music and Kugou Music showing significant drops [6][7]. - **NetEase Cloud Music** showed a slight recovery with a **2% YoY increase** in MAUs, while **Soda Music** outperformed with a **91% YoY increase** in MAUs, likely benefiting from ByteDance's traffic [6][7]. Future Content Pipeline - Upcoming major content releases include titles from **Tencent Video**, **iQiyi**, **Youku**, and **Mango TV**, with several anticipated to launch in late October and throughout November and December [7][8]. Investment Outlook - The report remains positive on the online entertainment sector, citing: 1. Healthy consumer spending on leisure activities. 2. Supply-side improvements due to a more favorable regulatory environment and innovations in business models [4][5]. Additional Insights - The report emphasizes the importance of AI in content production and the potential for new business models to drive growth in the online entertainment sector [4][5]. This summary encapsulates the key insights and data points from the conference call, providing a comprehensive overview of the current state and future outlook of the online entertainment industry in China.

Group 1 - Morgan Stanley's stake in Bilibili-WH shares increased from 15.94% to 16.38% as of October 20 [1]

Core Viewpoint - Bilibili (BILI.US) stock has shown positive movement, with a closing increase of 0.84% and a pre-market rise of 1.11%, attributed to the successful launch of the game "Escape from Duckkov," which has sold over 1 million copies within a week of its release [1]. Group 1: Stock Performance - Bilibili's stock closed at $28.95, reflecting an increase of $0.24 or 0.84% [1]. - In pre-market trading, the stock rose to $29.27, an increase of $0.32 or 1.11% [1]. - The stock's trading volume was 2.3061 million shares, with a total transaction value of approximately $66.09 million [1]. Group 2: Game Launch Success - "Escape from Duckkov," developed by Bilibili's in-house team "Carbonated Squad," achieved over 1 million sales shortly after its launch on October 16 [1]. - The game is characterized as a single-player, top-down, loot-and-evacuate shooting game with a duck theme [1]. Group 3: Financial Metrics - Bilibili's total market capitalization stands at approximately $11.965 billion [1]. - The company has a total share capital of 413 million shares, with a circulating value of about $8.282 billion [1]. - The stock has a price-to-earnings ratio (P/E) of 396.58, indicating a loss [1].

Core Viewpoint - The Hong Kong tech stocks experienced a strong rally towards the end of trading on October 24, with notable gains in companies such as Bilibili, Alibaba, Tencent Music, and Baidu [1] Group 1: Company Performance - Bilibili (09626.HK) saw an increase of over 3% [1] - Alibaba (09988.HK) rose by more than 2% [1] - Tencent Music (01698.HK) and Baidu (09888.HK) also followed with gains [1]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company is expected to achieve revenue of 7.65 billion RMB in Q3 2025, representing a year-over-year increase of 4.7%. The revenue breakdown by business segment includes gaming at 1.52 billion RMB (down 16.5% YoY), VAS at 3.12 billion RMB (up 10.5% YoY), advertising at 2.52 billion RMB (up 20% YoY), and e-commerce at 490 million RMB (down 14% YoY) [1] - The self-developed game "Escape from Duckkov" has exceeded expectations with sales surpassing 1 million copies within a week of its global release, potentially generating over 150 million RMB in revenue [2] - The company is actively enhancing its AI product functionalities, including AI translation and video generation tools for content creators, as well as integrating AI capabilities into its advertising offerings to improve efficiency and effectiveness [3] Revenue Forecast and Valuation - The company is projected to generate revenues of 22.53 billion RMB in 2023, increasing to 36.42 billion RMB by 2027, with a compound annual growth rate of approximately 8.8% [4] - Adjusted net profit forecasts for 2025, 2026, and 2027 are revised to 2.44 billion RMB, 3.77 billion RMB, and 4.83 billion RMB respectively, reflecting an upward adjustment of 14%, 7%, and 4% compared to previous estimates [3]

Group 1 - The Hang Seng Index rebounded, closing up 0.72%, with the internet sector leading the gains, followed by banking, industry, technology, and real estate sectors [1] - The internet sector saw a rise of 1.07%, with Meituan up 4.06%, Alibaba up 1.67%, Tencent Holdings up 1.52%, JD Group up 1.5%, and Baidu Group up 1.22%. However, companies like SenseTime, Bilibili, and Kingdee International experienced declines [3] - The banking sector opened strong and maintained a consolidation above the midline, closing up 0.88%, with Postal Savings Bank rising 4.59% and Minsheng Bank up 2.39% [3] Group 2 - The consumer sector rebounded, closing up 0.35%, with notable gains from companies like Chenzi Biological up 6.68%, Li Ning up 6.55%, and Sands China up 4.4% [3] - The healthcare sector opened low and saw a slight reversal near the end, closing down 1.31%, with CSPC Pharmaceutical down 2.96% and China Biopharmaceutical down 2.78% [3]

Core Viewpoint - Bilibili-W (09626.HK) announced that its board of directors will hold a meeting on November 13, 2025, to approve the unaudited financial results for the third quarter ending September 30, 2025 [1] Group 1 - The board meeting is scheduled for November 13, 2025, which falls on a Thursday [1] - The company will publish its third-quarter results around 6 PM Hong Kong time on the same day [1] - The financial results will be made available on the Hong Kong Stock Exchange's website [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 我們的管理層將於2025年11月13日（星期四）下午八時正（香港時間）召開業績電話會議。 電話會議詳情如下： 活動名稱：嗶哩嗶哩股份有限公司2025年第三季度業績電話會議 註冊鏈接：https://register-conf.media-server.com/register/BI1fe01172142541e9b7728979958e79c2 所有與會者須於電話會議召開前使用上文提供的鏈接完成在線註冊程序。註冊後，各與 會者將收到一組用以參與電話會議的與會者撥入號碼及個人密碼。 此外，電話會議的網上直播可於本公司的投資者關係網站http://ir.bilibili.com獲取，會議 結束後將提供網上直播的重播。 承董事會命 嗶哩嗶哩股份有限公司 陳睿 Bilibili Inc. 嗶哩嗶哩股份有限公司 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9626） 董事會會議日期及 刊 發 ...

-Earnings Call Scheduled for 7:00 a.m. ET on November 13, 2025- SHANGHAI, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that it will report its third quarter 2025 unaudited financial results on Thursday, November 13, 2025, before the open of U.S. markets. The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern Time on Nove ...