Bilibili-W (09626.HK) saw its stock soar 6.01% in Tuesday's trading session, reaching its highest level in three and a half years. The surge comes on the heels of impressive sales figures for the company's latest game release and positive analyst sentiment towards the gaming sector.
The catalyst for the stock's upward movement appears to be the success of Bilibili's newly released single-player game, "Escape from Duckov." The game has reportedly surpassed one million sales within just one week of its launch, demonstrating strong consumer demand for the company's gaming content. This achievement not only boosts Bilibili's revenue but also strengthens its position in the competitive gaming market.
Adding to the positive momentum, a research report from Guosen Securities has painted an optimistic picture for the gaming industry. The report noted that gaming market revenue in August increased by 0.6% month-on-month, and expressed confidence in the sector's opportunities. Analysts cited policy support, market recovery, and potential AI applications as key drivers for growth in the gaming industry, further bolstering investor confidence in companies like Bilibili-W.