The Zhitong Finance App learned that after evaluating the latest trends in various sub-industries in the advertising market, it is expected that the industry will be affected by macroeconomic uncertainty, lowering the target price of Bilibili (09626) from HK$258 to HK$221, maintaining a “buy” rating.

The bank said it lowered the company's advertising business forecast for the third quarter and now expects total revenue to increase 7.3% year over year to RMB 8.2 billion. The previous forecast was an 8% increase; it also lowered its advertising growth forecast for the full year 2026 from 23% to 21.6%. The bank kept the adjusted operating profit unchanged at RMB 2,891 million for the full year of 2026, which is slightly more cautious than the market estimate of RMB 3 billion; the adjusted net profit is expected to be RMB 2,852 billion.

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