Institution: The main stock selling pressure of Bilibili may have eased, raising the company's target price.

Zephirin Group stated in a research report that with the decreasing likelihood of Tencent, a major shareholder, cashing out its stake in the Chinese video sharing platform Bilibili, the pressure to sell Bilibili's main stocks has likely eased. Longdley Zephirin said that Tencent is reportedly planning to issue bonds, which should reduce the risk of selling Bilibili's shares. Data shows that Tencent holds about 12% of Bilibili's shares. Therefore, Zephirin Group has upgraded its trading rating of Bilibili's stock listed in Hong Kong from "strong sell, medium risk" to "hold, medium risk". The institution has raised its target price from HK$134.00 to HK$161.00.