智通财经网·2025-09-10 08:58Core Viewpoint - Goldman Sachs released a report indicating that Bilibili (09626) participated in the Goldman Sachs Asia-Pacific Leaders Forum, discussing its game product line and release schedule, with expectations for significant user engagement and revenue growth [1] Group 1: Game Product Line and Release Schedule - Bilibili's management expects the game "Three Kingdoms: Hundred Generals Card" to achieve daily active users (DAU) in the millions, set to launch during the 2026 Spring Festival [1] - The mobile anime RPG "Dudu Face Prank" is expected to launch in Q4 of this year, focusing on cute characters [1] - The single-player top-down shooter "Escape from Duckkov" is also anticipated to be released in Q4 of this year [1] Group 2: Advertising and Industry Trends - The gaming industry advertising performance was robust in the first half of the year, with major game publishers increasing their ad spending on Bilibili's platform year-on-year [1] - The 3C digital business experienced unexpected growth in Q2, driven by the 618 shopping festival and national subsidies [1] - Home and household products also benefited from subsidies and performed well during the 618 period, with trends expected to continue until the end of the year [1] Group 3: Advertising Revenue and Optimization - The company's eCPM (average revenue per 1,000 ad impressions) saw double-digit year-on-year growth in Q1, attributed to an expanded client base and improved conversion rates from algorithm optimization [1] - By Q2 of 2025, the proportion of deep conversions is expected to double, with plans to test AI-generated personalized titles and covers in the second half of 2025 to enhance ad click-through rates [1]