pennslammer36500hs| Research and report on the Nuggets| CICC: Raise target prices for Bilibili H shares and U.S. stocks to maintain its "outperform industry" rating

China International Capital issued a report stating that the revenue of Beili Beili in the first quarter was 56pennslammer36500hs.65 billion yuan, a year-on-year increase of 11.7%, basically in line with expectations;Non-GAAP net loss of 440 million yuan, also better than expected, mainly due to effective control of cost, management and R & D expenses. Consider the game businesspennslammer36500hsWith revenue elasticity and expense investment, the bank raised its 2025 Non-GAAP net profit by 4.6% to 2.156 billion yuan. Currently, the stock's Hong Kong stocks and U.S. stocks are trading at 1.7 and 1.5 times the 2024 and 2025 price-to-sales ratios, maintaining the "outperform industry" rating. Taking into account the adjustment of earnings forecasts and the upward shift of the industry valuation center, the target price of H-shares is raised by 28.7% to HK$130, and the target price of U.S. stocks is raised by 30.8% to US$17.