Report Date: 2 October 2024
Broker: MIB Securities (Hong Kong) Ltd
Game Approval Boost
On 27 September 2024, China’s National Press and Publication Administration (NPPA) announced the latest approval status of domestic online games. A total of 109 domestic games received licenses in September 2024, marking the tenth consecutive month of more than 100 new titles being approved. Among the companies benefiting from this trend is BiliBili-W (9626 HK), which had several titles included in the list of approved games.
Performance and Market Sentiment
The continuous rise in game approvals signifies a significant recovery in China’s online gaming market. The approval momentum followed the success of action role-playing game Black Myth: Wukong, a major hit in both domestic and international markets. BiliBili-W stands to benefit from this revitalized market alongside other major players.
Investment Ratings
BiliBili-W (9626 HK) holds a target price of HKD153.86 and enjoys a robust “Buy” rating from 87.5% of analysts, though it remains Not Rated by MIB Securities itself. This positive outlook reflects growing confidence in the company as it benefits from the improving regulatory environment and increased game approvals.
