Market Insight | Bilibili's W shares surged more than 7% during trading hours, with institutions expecting strong growth in its advertising business in the first quarter

Bilibili-W rose more than 7% intraday, as of the time of publication, it rose by 6.19% to HKD 115, with a turnover of HKD 5.37 billion. On the news front, starting from May 13th, internet companies will successively release their first-quarter performance for 2024. Among them, Bilibili will announce its first-quarter performance on May 23rd. Guotai Junan Securities expects its 1Q24 advertising revenue to increase by 28% year-on-year to 1.63 billion yuan, with the proportion of total revenue increasing by 4 percentage points year-on-year to 28.9%, mainly due to the continuous improvement in advertising efficiency, as well as increased advertising spending from game and e-commerce advertisers. BOC International pointed out that the first-quarter performance of most companies is expected to meet expectations, and the guidance for the second quarter is a more important indicator that may affect stock price trends. Huaxi Securities stated that Hong Kong-listed internet stocks continue to rebound, and they are optimistic about the valuation and performance recovery of leading companies in the industry