Understanding the Market | BILIBILI-W rises over 5% again, accumulating a rise of about 25% in the past six days. The new game "Three Kingdoms: Hundred Generals Card" is scheduled for testing in October

Zhitong
2025.09.16 01:58
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Bilibili-W rose over 5% again, accumulating a 25% increase over the past six trading days. As of the time of writing, it rose 5.08% to HKD 219.2, with a trading volume of HKD 584 million. On the news front, on September 10th, Bilibili's strategic competitive card game "Three Kingdoms: Hundred Generals Card" was first revealed. At the same time, the official announcement stated that the game has opened for reservations and will begin its first round of public testing "Card One" in October. Goldman Sachs recently pointed out that Bilibili participated in its Goldman Sachs Asia Pacific Leaders Forum, where the company indicated that "Three Kingdoms: Hundred Generals Card" is an asymmetric strategy casual card game. The management expects it to become a major title with daily active users (DAU) reaching one million, officially launching during the 2026 Spring Festival. Goldman Sachs also stated that regarding advertising trends and growth momentum by industry, Bilibili indicated that the gaming industry's advertising performance was robust in the first half of the year, with major game publishers increasing their advertising on the company's platform year-on-year, and mini-games also gaining market share. The 3C digital business was boosted by the 618 shopping festival and national subsidies, with growth exceeding expectations in the second quarter; home and household products also benefited from subsidies and performed well during the 618 period, with trends expected to continue until the end of the year

According to Zhitong Finance APP, Bilibili-W (09626) has risen over 5% again, with a cumulative increase of 25% over the past six trading days. As of the time of publication, it is up 5.08%, priced at HKD 219.2, with a transaction volume of HKD 584 million.

In terms of news, on September 10th, Bilibili's strategic competitive card game "Three Kingdoms Hundred Generals Card" was first revealed. At the same time, the official announced that the game has opened for reservations and will begin its first round of public testing in October. Goldman Sachs recently pointed out that Bilibili participated in its Goldman Sachs Asia Pacific Leaders Forum, where the company indicated that "Three Kingdoms Hundred Generals Card" is an asymmetric strategy casual card game. The management expects it to become a major title with daily active users (DAU) reaching one million, officially launching during the Spring Festival in 2026.

Goldman Sachs also stated that in terms of advertising trends and growth momentum by industry, Bilibili indicated that the advertising performance in the gaming industry was robust in the first half of the year, with major game publishers increasing their advertising on the company's platform year-on-year, and mini-games also gaining market share. The 3C digital business was boosted by the 618 shopping festival and national subsidies, with growth exceeding expectations in the second quarter; home and household products also benefited from subsidies and performed well during the 618 period, with trends expected to continue until the end of the year

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