---
title: "Haitong International Cuts Bilibili Inc.  TP to USD24, Lowers 2H Ad Growth Forecast"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/302054226.md"
description: "Haitong International lowered Bilibili's target price to USD24 and reduced its 2026 ad growth forecasts for Q3 and Q4 to 20% and 10%, respectively, citing weaker ad revenue and higher marketing expenses. Consequently, non-GAAP operating profit forecasts were cut by 5% and 10%. Despite these adjustments, Haitong maintained an 'Outperform' rating, highlighting Bilibili's strong user community and margin expansion potential."
datetime: "2026-10-16T03:55:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/302054226.md)
  - [en](https://longbridge.com/en/news/302054226.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/302054226.md)
generator: "portal-rs"
---

# Haitong International Cuts Bilibili Inc.  TP to USD24, Lowers 2H Ad Growth Forecast

Haitong International issued a research report stating that it lowered its YoY advertising revenue growth forecasts for BILIBILI-W (09626.HK) +3.400 (+3.071%) Short selling $86.68M; Ratio 23.476% for 3Q26 and 4Q26 to 20% and 10%, respectively, from previous forecasts of 23% and 16%. Due to weaker advertising revenue and expected higher marketing expenses in 4Q26 driven by new game launches, the broker also cut its non-GAAP operating profit forecasts for 3Q26 and 4Q26 by 5% and 10%, respectively, to RMB777 million and RMB875 million.

The broker remains positive on the value of Bilibili Inc. (BILI.US) as China's largest mid- to long-form video platform, citing its user community and margin expansion momentum. It maintained the Outperform rating, but lowered the TP for Bilibili Inc. (BILI.US) from USD26 to USD24. (sl/ad)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-10-15 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**