Ge Long Hui·2026-01-15 06:21Group 1 - The core viewpoint of the article is that UBS's research report indicates Bilibili's management believes the company's fourth-quarter performance meets expectations, with a positive outlook for advertising growth through 2026 [1] - Management has noted early signs of demand growth from AI and gaming advertisers, indicating a constructive view on future advertising prospects [1] - The company is confident in its ability to sustainably capture budget allocations from e-commerce advertisers and plans to actively expand into new verticals to broaden its advertising client base [1] Group 2 - UBS has raised its revenue and profit forecasts for 2026 by 1% and 2% respectively, due to improved advertising growth prospects [1] - The target price for Hong Kong stocks has been increased from HKD 279.9 to HKD 314.9, and the target price for US stocks has been raised from USD 36 to USD 40.5, while maintaining a "Buy" rating [1]