Bilibili-W (09626) rose more than 3%, gaining 2.99% to HK$155.1 by the time of writing, with a turnover of HK$258 million. The company is scheduled to release its first-quarter financial results for the period ending March 31, 2026, today. In a previous research report, CLSA noted that Bilibili is expected to maintain steady revenue growth in the first quarter of 2026, with further improvements in profitability. The firm projects total revenue to increase by 7% year-over-year to RMB 7.5 billion, with an adjusted net profit of RMB 543 million. The report highlighted that Bilibili's advertising revenue should continue to show strong growth, primarily driven by solid demand for gaming advertisements and increased promotion of AI applications. It also views Bilibili, with its young user base, as one of the key platforms for capturing AI advertising opportunities. Citigroup also expressed optimism, stating that the company's robust advertising growth momentum is expected to drive future profit increases. It anticipates Bilibili's first-quarter revenue this year to grow by 7% year-over-year to RMB 7.5 billion, with non-GAAP operating profit reaching RMB 553 million, both largely in line with market expectations. Within this, advertising revenue is forecast to rise by 26% year-over-year, with further upside potential, benefiting from the continuous expansion of advertising scenarios, efficiency improvements driven by AI, and growth in user spending power.