Zhi Tong Cai Jing·2025-09-10 09:05Group 1 - Goldman Sachs reported that Bilibili-W (09626) participated in the Goldman Sachs Asia Pacific Leaders Forum, discussing its game product line and release schedule [1] - The management highlighted that "Three Kingdoms: Hundred Generals Card" is expected to become a major title with daily active users (DAU) reaching millions, set to launch during the 2026 Spring Festival [1] - "Dudu Face Prank" is a mobile anime RPG featuring cute characters, expected to launch in Q4 of this year [1] - "Escape from Duckkov" is a single-player top-down shooting looter PC game, also expected to launch in Q4 of this year [1] Group 2 - Bilibili indicated that the gaming industry advertising performance was robust in the first half of the year, with major game publishers increasing their ad spending on the platform year-on-year [1] - The 3C digital business experienced unexpected growth in Q2, driven by the 618 shopping festival and national subsidies [1] - The home and household goods sector 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 - The company reported a double-digit year-on-year growth in eCPM (average revenue per 1,000 ad impressions) in Q1, attributed to an expanded client base and improved conversion through 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]