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<Research>CICC Cuts BILIBILI-W (09626.HK) TP to $174 on Concerns Over Subsequent Profit Resilience
Recommend 5 Positive 8 Negative 3 |
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CICC released a research report saying that BILIBILI-W (09626.HK) will release its 4Q24 results in March, and forecasting that 4Q24 advertising revenue/ value-added service revenue will grow 24%/ 5.2%YoY. Its game “Sanguo SLG” has started its fourth season in November 2024, which is expected to drive the game revenue to hike by 78% YoY. CICC currently maintained its 2024 profit forecast for BILIBILI-W unchanged. Taking into account the uncertainty in advertising revenue, the broker lowered its 2025/ 2026 non-GAAP net profit forecasts by 15.3%/ 13.2% to approx. RMB2.266 billion/ RMB2.991 billion. Therefore, the broker kept rating at Outperform, and cut its target price to $174. AAStocks Financial News |
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