中银国际:升哔哩哔哩-W(09626)目标价至270港元 爆款《逃离鸭科夫》初显成功IP潜力可期

智通财经
Oct 30, 2025

智通财经APP获悉,中银国际发布研报称,维持哔哩哔哩-W(09626)“买入”评级,目标价由242港元升至270港元;哔哩哔哩(BILI.US)美股目标价由31美元上调至35美元,评级“买入”。

中银国际认为哔哩哔哩自研小游戏《逃离鸭科夫》自10月16日上线至10月28日中午于全球PC平台达成200万份销量,表现超出市场预期。在扩张中的射击刷宝游戏市场中,观察到其创新的PvE模式、透过高互动性内容与频繁更新实现的娱乐性游戏体验是主要成功因素。该行预期哔哩哔哩未来可能新增官方合作模式、多终端版本、控制器支持及各类IP形式运营,将进一步释放其价值。目前预估这款爆款游戏将推动2025年第四季总收入与调整后营业利润分别增长2%与10%。

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