JPMorgan Doubles Down on Bilibili Amid Gaming Success

JPMorgan's latest report on Bilibili (09626.HK) highlights the company's strong performance with its new mobile game Lumi Master. Since its global launch on September 17, the game has met expectations and is on track to achieve its full-year cash grossing target of CNY 1.5 billion ($224.1 million).

JPMorgan reiterates Bilibili as its top pick in China's digital entertainment sector, maintaining an 'Overweight' rating with a Hong Kong-listed share target price of HK$170 and a US-listed ADR target price of $22.

Lumi Master ranks No. 2 on China's iOS download chart and No. 22 on the revenue chart, while in overseas markets it ranks highly in various countries including Hong Kong, Japan, South Korea, and the United States.