US Stock Movement | Bilibili rises over 1% pre-market as institutions expect new game launch to improve gaming business outlook

Gelonghui, March 9th｜Bilibili (BILI.US) rose 1.26% in pre-market trading to $24.98. According to reports, several institutions are optimistic that the launch of new games by the company is expected to improve the outlook for its gaming business. Among them, China Merchants Securities issued a research report stating that Bilibili plans to add 500 million to 1 billion yuan in AI investment, including capital investment in AI computing power and technology, as well as operational investment in R&D and talent acquisition. The firm believes these investments will help the company improve efficiency and reduce costs; increase advertising revenue; and strengthen its core competitive advantage in content communities. In addition, two new games, "Three Kingdoms: Hundred Generals" and "Shine! Lumi," are expected to be launched in the second quarter of this year, which is likely to improve the outlook for the gaming business. The firm maintains its target price for Bilibili's US shares at $30, with a "Buy" rating, and expects the company's revenue to grow by 9% year-on-year this year, and Non-GAAP net profit to increase by 37%. Goldman Sachs also pointed out that Bilibili's fourth-quarter results last year exceeded expectations, with revenue of 8.3 billion yuan, up 8% year-on-year, 2% higher than both the firm's and the market's expectations. The new games "Three Kingdoms: Hundred Generals" and "Shine! Lumi" are expected to be launched around mid-year and will contribute growth momentum to gaming revenue in the second half of 2026. Management also mentioned that the potential investment scale in AI this year is about 500 million to 1 billion yuan. The firm believes the company will benefit from the popularization of AI technology and AIGC content, thereby enriching its platform ecosystem. Goldman Sachs rates Bilibili as "Buy" with a US target price of $34.2.