Financial Performance - Total net revenues for Q4 2023 were RMB6.3 billion (US$894.3 million), a 3% increase year over year, while total revenues for the fiscal year 2023 reached RMB22.5 billion (US$3.2 billion), also up 3% from 2022[2]. - Advertising revenues in Q4 2023 were RMB1.9 billion (US$271.7 million), representing a 28% year-over-year increase, and for the full year, advertising revenues were RMB6.4 billion (US$903.1 million), up 27% from 2022[2]. - Value-added services (VAS) revenues for Q4 2023 were RMB2.9 billion (US$402.4 million), a 22% increase year over year, with full-year VAS revenues at RMB9.9 billion (US$1.4 billion), up 14% from 2022[2]. - Gross profit for Q4 2023 was RMB1.7 billion (US$233.8 million), a 33% increase year over year, with a gross profit margin of 26.1%, improving from 20.3% in the same period last year[2]. - Total net revenues for the year ended December 31, 2023, were RMB 22,527,987, representing an increase from RMB 21,899,167 in 2022[24]. - Mobile games revenue for the year ended December 31, 2023, was RMB 4,021,137, a decrease from RMB 5,021,290 in 2022, reflecting a decline of approximately 20%[24]. - Value-added services (VAS) revenue increased to RMB 9,910,080 for the year ended December 31, 2023, up from RMB 8,715,170 in 2022, marking a growth of about 13.7%[24]. - Advertising revenue for the year ended December 31, 2023, was RMB 6,412,040, an increase from RMB 5,066,212 in 2022, representing a growth of approximately 26.6%[24]. - The company reported a gross profit of RMB 5,441,865 for the year ended December 31, 2023, compared to RMB 3,849,295 in 2022, representing an increase of approximately 41.5%[24]. Loss and Adjusted Loss - The net loss for Q4 2023 was RMB1.3 billion (US$182.6 million), narrowing by 13% year over year, while the full-year net loss was RMB4.8 billion (US$677.7 million), a 36% reduction from 2022[2]. - Adjusted net loss for Q4 2023 was RMB555.8 million (US$78.3 million), a 58% improvement year over year, and for the full year, adjusted net loss was RMB3.4 billion (US$480.9 million), narrowing by 49% from 2022[2]. - The net loss attributable to Bilibili Inc.'s shareholders for the year ended December 31, 2023, was RMB 4,822,321, compared to a net loss of RMB 7,497,013 in 2022, indicating an improvement of about 35.5%[24]. - The basic net loss per share for the year ended December 31, 2023, was RMB 11.67, a decrease from RMB 18.99 in 2022, reflecting a reduction of approximately 38.5%[24]. - The company reported an adjusted net loss of RMB 555.8 million for the year ended December 31, 2023, compared to an adjusted net loss of RMB 1.31 billion for the year ended December 31, 2022[31]. - Adjusted net loss per share decreased from RMB 3.31 for the year ended December 31, 2022, to RMB 8.29 for the year ended December 31, 2023, indicating a reduction in losses[33]. User Engagement - Average daily active users (DAUs) reached 100.1 million in Q4 2023, an 8% increase from the same period in 2022, with users spending over 95 minutes daily on the platform[3]. Cash Flow and Expenses - Operating cash flow for Q4 2023 was RMB640.4 million (US$90.2 million), compared to negative RMB707.3 million in the same period last year, marking a significant turnaround[2]. - Total operating expenses for the fiscal year 2023 decreased by 14% to RMB10.5 billion (US$1.5 billion), with sales and marketing expenses down 20% year over year[12][13]. - Total operating expenses for the year ended December 31, 2023, were RMB 10,506,052, down from RMB 12,207,239 in 2022, indicating a decrease of about 14%[24]. - Research and development expenses for the year ended December 31, 2023, were RMB 4,467,470, compared to RMB 4,765,360 in 2022, showing a decline of approximately 6.3%[24]. - Share-based compensation expenses totaled RMB 1,132,644 for the year ended December 31, 2023, up from RMB 1,040,683 in 2022, reflecting an increase of about 8.8%[26]. Assets and Liabilities - As of December 31, 2023, the company had cash and cash equivalents of RMB15.0 billion (US$2.1 billion) and outstanding convertible senior notes totaling US$861.8 million (RMB6.1 billion)[15]. - Total assets decreased from RMB 41.83 billion on December 31, 2022, to RMB 33.16 billion on December 31, 2023, a decline of approximately 20.7%[27]. - Total current liabilities increased from RMB 17.09 billion on December 31, 2022, to RMB 18.10 billion on December 31, 2023, an increase of approximately 5.9%[27]. - Cash and cash equivalents decreased from RMB 10.17 billion on December 31, 2022, to RMB 7.19 billion on December 31, 2023, a decline of approximately 29.5%[27]. - Total liabilities decreased from RMB 26.59 billion on December 31, 2022, to RMB 18.75 billion on December 31, 2023, a decline of approximately 29.6%[27]. - Long-term investments decreased from RMB 5.65 billion on December 31, 2022, to RMB 4.37 billion on December 31, 2023, a decline of approximately 22.7%[27]. Operational Efficiency - Loss from operations narrowed to RMB 1.30 billion for the three months ended December 31, 2023, compared to RMB 2.33 billion for the same period in 2022[31]. - Weighted average number of ordinary shares increased from 396.08 million for the year ended December 31, 2022, to 414.79 million for the year ended December 31, 2023[33].

Shanghai, Feb. 25, 2024 /PRNewswire/ -- China's leading venture capital firm Qiming Venture Partners announced its recent signing of the United Nations-supported Principles for Responsible Investment (PRI). By signing the PRI, Qiming has joined an international network of over 5,000 signatories that share a mission to shape a global sustainable financial system that ensures growth for investors, enterprises, environment, and the wider society. "The signing is a testimony to our commitment to Environmental, ...

SHANGHAI, China, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Bilibili Inc. ("Bilibili" or the "Company") (NASDAQ:BILI), an iconic brand and a leading video community for young generations in China, today announced that it is notifying holders of its 1.375% Convertible Senior Notes due 2026 (CUSIP No. 090040AB2) (the "Notes") that, pursuant to the Indenture dated as of April 5, 2019 (the "Indenture") relating to the Notes by and between the Company and Deutsche Bank Trust Company Americas, as trustee, each holder has ...

The industry is witnessing a mixed bag of fortunes in the dynamic world of online streaming. Though industry bellwethers such as Netflix continue to shine, its competition is struggling, with many of them evolving into streaming stocks to sell. Moreover, certain streaming platforms are struggling remarkably in terms of their financials, with gross margins and revenue growth falling short of industry averages. This is a telling sign of underlying operational inefficiencies and a challenging market environmen ...

"With a lower revenue for online games, the ad industry would be impacted too," he said. UBS estimates online games account for about 20% of the online ad industry's revenue."Big game developers or big DAU [daily active user] social games should fare better: This is because they have other means to boost gamers engagement, reach out to users and have stronger R&D capabilities to attract and retain gamers," Kenneth Fong, head of China internet research, UBS, said in a note.The comment period is open until Ja ...

Investor Presentation November 2023 ...

Bilibili Inc. (NASDAQ:BILI) Q3 2023 Earnings Conference Call November 29, 2023 7:00 AM ET Company Participants Juliet Yang - Executive Director-Investor Relations Rui Chen - Chairman of the Board of Directors & Chief Executive Officer Sam Fan - Chief Financial Officer Conference Call Participants Zhang Xueqing - CICC Fang Wei - Mizuho Felix Liu - UBS Zhang Lei - Bank of America Operator Good day, and welcome to the Bilibili Third Quarter 2023 Financial Results and Business Update Conference Call. Today's co ...

Exhibit 99.1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Bilibili Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability) ...

Bilibili Inc. (NASDAQ:BILI) Q2 2023 Earnings Conference Call August 17, 2023 8:00 AM ET Company Participants Juliet Yang - Executive Director of Investor Relations Sam Fan - Chief Financial Officer Rui Chen - Chairman of the Board and Chief Executive Officer Carly Lee - Vice Chairwoman of the Board and Chief Operating Officer Conference Call Participants Xueqing Zhang - CICC Lei Zhang - Bank of America Securities Kenneth Fong - Credit Suisse Yiwen Zhang - China Renaissance Lincoln Kong - Goldman Sachs Opera ...

Financial Performance - Total net revenues for the six months ended June 30, 2023, were RMB10.4 billion, representing a 4% increase from RMB10.0 billion for the same period in 2022[4] - Gross profit increased by 51% year-over-year to RMB2.3 billion, with a gross profit margin of 22.5%, up from 15.5% in the same period last year[4] - Net loss narrowed by 49% to RMB2.2 billion, while adjusted net loss narrowed by 45% to RMB2.0 billion[4] - Total net revenues for the first half of 2023 were RMB10.4 billion, a 4% increase from RMB10.0 billion in the same period of 2022[31] - Revenues from value-added services (VAS) were RMB4.5 billion, representing a 7% increase from RMB4.2 billion year-over-year, driven by live broadcasting growth[32] - Advertising revenues reached RMB2.8 billion, a 29% increase from RMB2.2 billion in the first half of 2022, primarily due to improved advertising product offerings[33] - Mobile games revenues decreased by 16% to RMB2.0 billion from RMB2.4 billion, attributed to a lack of new game launches[34] - Total comprehensive loss for the six months ended June 30, 2023, was RMB (1,957,835) compared to RMB (3,960,333) for the same period in 2022, indicating a significant reduction in losses[66] - The net loss attributable to Bilibili Inc.'s shareholders for the six months ended June 30, 2023, was RMB 2,174,393 thousand, significantly reduced from a net loss of RMB 4,288,909 thousand in 2022, indicating an improvement of approximately 49.3%[92] User Engagement - Average daily active users (DAUs) reached 95.1 million, a 17% increase from 81.4 million for the same period in 2022[4] - Monthly active users (MAUs) reached 319 million, with a DAU/MAU ratio of 29.8%, up from 27.2% in the same period last year[12] - Total daily video views increased by 34% year-over-year to 4.1 billion, with Story Mode's daily video views growing by 78%[14] - Over 2.1 million creators earned money through various Bilibili channels, representing a 41% increase year-over-year[15] - The average daily time spent on the platform was 95 minutes, the highest level for a first half year period in the company's operating history[17] Operating Expenses - Total operating expenses declined by 13%, including a 26% decrease in sales and marketing expenses[11] - Total operating expenses decreased by 13% to RMB5.0 billion from RMB5.7 billion year-over-year[38] - Sales and marketing expenses were RMB1.8 billion, a 26% decrease from RMB2.4 billion, primarily due to reduced promotional spending[39] Cash Flow and Assets - Cash and cash equivalents decreased by 27% to RMB14.3 billion as of June 30, 2023, down from RMB19.6 billion as of December 31, 2022, primarily due to the repurchase of 2027 Notes for RMB5.3 billion[44] - Total current assets decreased from RMB 24,452,888 as of December 31, 2022, to RMB 18,710,694 as of June 30, 2023[67] - Total liabilities decreased from RMB 26,590,983 as of December 31, 2022, to RMB 18,362,675 as of June 30, 2023[68] - Net cash used in operating activities for the six months ended June 30, 2023, was RMB (651,158), a decrease from RMB (2,104,516) for the same period in 2022[71] - Net cash provided by investing activities for the six months ended June 30, 2023, was RMB 1,010,143, compared to RMB (647,890) for the same period in 2022[71] Shareholder Information - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2023[62] - The company did not recommend the distribution of any dividend for the six months ended June 30, 2022, and 2023[93] - The weighted average number of ordinary shares outstanding increased to 412,013,005 for the six months ended June 30, 2023, compared to 394,142,409 in 2022[92] Employee Information - As of June 30, 2023, the company had a total of 10,354 employees, a decrease from 11,092 employees as of December 31, 2022[49] Future Outlook - The company aims to enhance traffic commercialization efficiency and introduce more high-quality games in the second half of 2023[28]