BILIBILI(US:BILI) First Shanghai Securities·2025-11-19 09:39Group 1: BYD Electronics - BYD Electronics reported a revenue of RMB 123.3 billion for the first nine months of 2025, a year-on-year increase of 0.95%[6] - The net profit for the same period was RMB 3.14 billion, reflecting a growth of 2.4% year-on-year[6] - The automotive electronics segment is expected to generate RMB 25 billion in revenue for 2025, with a growth rate of approximately 25%[7] - The target price for BYD Electronics is set at HKD 50.10, indicating a potential upside of 51.2% from the current price[9] Group 2: Bilibili - Bilibili's Q3 revenue reached RMB 7.69 billion, a year-on-year increase of 5.2%[13] - Non-GAAP net profit for Q3 was RMB 790 million, a significant increase of 233.3% compared to the previous year[13] - The target price for Bilibili is set at USD 32.00, representing a potential growth of 22.51% from the current price[18] Group 3: SMIC - SMIC reported Q3 revenue of USD 2.38 billion, a year-on-year increase of 9.7%[23] - The gross margin for Q3 was 22.0%, reflecting a 1.6 percentage point increase from the previous quarter[23] - The target price for SMIC is set at HKD 90.00, indicating a potential upside of 21.63% from the current price[26] Group 4: Tencent - Tencent's Q3 revenue was RMB 193 billion, showing a year-on-year growth of 15%[32] - Non-IFRS net profit for Q3 was RMB 70.6 billion, an 18% increase year-on-year[32] - The target price for Tencent is set at HKD 790.00, suggesting a potential increase of 26.7% from the current price[37]