Zhi Tong Cai Jing·2025-09-15 02:13Core Viewpoint - Bilibili's stock price increased by over 5% following the announcement of its new game "Three Kingdoms: Hundred Generals Card" and its upcoming public testing phase, indicating positive market sentiment towards the company's gaming strategy [1] Company Developments - Bilibili's new game "Three Kingdoms: Hundred Generals Card" was revealed on September 10, with pre-registration now open and the first public test scheduled for October [1] - The game is expected to be a significant addition to Bilibili's portfolio, with management projecting it to reach daily active users (DAU) of one million upon its official launch during the 2026 Spring Festival [1] Market Analysis - Goldman Sachs highlighted Bilibili's participation in its Asia-Pacific Leaders Forum, discussing the game product line and release schedule, which reflects the company's strategic focus on gaming [1] - Guosen Securities noted Bilibili's strong community and user advantages, emphasizing the potential for growth in gaming, advertising, and value-added services, particularly with the integration of new technologies like AI [1] - Open Source Securities compared the gaming sector to innovative pharmaceuticals, suggesting that both industries share characteristics such as high profitability potential during their revenue realization phases and relatively low fund allocation, indicating room for growth [1]