Haitong International says China’s Bilibili (BILI.O) has a content-value edge
amid fragmented, AI-driven content supply, supporting sustained user growth
among mid-to-long-form video platforms and stronger advertising revenue. Haitong
raised its PT to $26 from $21, retained an Outperform rating and said Bilibili’s
valuation should be rerated. It forecasts adjusted operating profit of RMB 3.086
bln for FY2026, up 26% YoY, with second-quarter adjusted operating profit seen
rising about 20%.