HK Stock Market Move | BILIBILI-W(09626) rose more than 5% before the performance announcement and will release first quarter results after the market closes. Lyon estimates that first quarter revenues will increase by 7% year-on-year.

Bilibili-W (09626) is up more than 5% before the results, up 4.71% at the time of publication, trading at HK$157.7, with a turnover of HK$4.9 billion. On the news front, Bilibili will release its financial report on May 19th. Credit Lyonnais previously released a research report stating that Bilibili is expected to maintain steady revenue growth in the first quarter, with further improvement in profitability. The bank expects revenue to increase by 7% year-on-year to 7.5 billion RMB, with adjusted net profit of 543 million RMB. China International Bank, on the other hand, said it cannot predict Tencent's pace of reduction, but believes that Bilibili will rely on its AI-enabled content and commercial ecosystem to achieve healthy user growth and enhance multiple high-quality revenue-generating capabilities to achieve stable and sustainable profit growth. The bank believes that the advertising business will continue to show strong momentum in the coming quarters, and game revenue will accelerate from the second half of the year due to several new games being launched, leading to profitability exceeding expectations in 2026 and 2027.