Bilibili (BILI US) is committed to building a strong brand image based on its long-term values. The company's positive brand image helps it to achieve sustainable growth in its various business lines. Bilibili has a large and active user community, which is the foundation of its brand building. The company plans to leverage its unique user and content优势 to expand its game development and to further promote its brand through cultural content. The company also plans to strengthen its brand image through its advertising business, which focuses on brand exposure and improving overall efficiency. We maintain our target price of $125 and our "buy" rating.
