Ge Long Hui·2025-09-04 08:26Core Viewpoint - Bilibili (BILI.US) is experiencing a pre-market increase of nearly 1%, reaching $22.5, driven by positive industry outlook and policy support for the gaming sector [1] Industry Summary - According to a report from China Merchants Securities, the gaming industry is expected to achieve high growth in the mid-year report, with third-quarter performance likely to continue improving on a quarter-over-quarter basis [1] - The current high level of industry prosperity is reflected in an average valuation of approximately 20 times, compared to a historical average exceeding 30 times, indicating potential for upward movement in valuations [1] - Future growth in the gaming sector is anticipated to transition from "alpha" driven performance to new "beta" drivers, fueled by the rise of emerging consumer trends and AI applications [1]