哔哩哔哩-W(09626) - 2024 - 年度财报

Financial Performance - Net revenue for 2024 reached RMB 26,831,525, representing a 19.1% increase from RMB 22,527,987 in 2023[5] - Gross profit for 2024 was RMB 8,773,963, a significant increase of 61.2% compared to RMB 5,441,865 in 2023[5] - The adjusted operating loss improved dramatically to RMB 60,848 in 2024, a 98.2% reduction from RMB 3,384,962 in 2023[5] - The net loss attributable to Bilibili Inc. shareholders decreased by 72.1% to RMB 1,346,800 in 2024 from RMB 4,822,321 in 2023[5] - The company reported an adjusted net loss of RMB 38,955 for 2024, a 98.9% improvement from RMB 3,414,113 in 2023[5] - The operating loss narrowed to RMB 1.34 billion, a 73% improvement from RMB 5.06 billion in 2023[34] - The net loss for 2024 was RMB 1.36 billion, a 72% reduction from RMB 4.81 billion in 2023[38] Revenue Breakdown - In 2024, the company's total revenue reached RMB 26.8 billion, representing a year-on-year growth of 19%[10] - Advertising revenue grew by 28% year-on-year, reaching RMB 8.2 billion, driven by continuous optimization of advertising products and infrastructure upgrades[16] - Mobile game revenue increased by 40% year-on-year, totaling RMB 5.6 billion, largely due to the successful launch of the strategy game "Three Kingdoms: Strategize the World"[17] - The company's value-added services revenue grew by 11% year-on-year, reaching RMB 11 billion, with over 22.7 million premium members[15] - Value-added services revenue reached RMB 11 billion, up 11% from RMB 9.9 billion in 2023, driven by increased income from live streaming and other value-added services[24] - Mobile gaming revenue surged to RMB 5.6 billion, a 40% increase from RMB 4 billion in 2023, attributed to the strong performance of the exclusive licensed game "Three Kingdoms: Strategize the World"[26] Assets and Liabilities - Total current assets increased by 5.5% to RMB 19,756,055 in 2024, up from RMB 18,727,039 in 2023[5] - Total liabilities slightly decreased by 0.9% to RMB 18,594,587 in 2024, compared to RMB 18,754,800 in 2023[5] - Total assets decreased by 1.4% to RMB 32,698,500 in 2024 from RMB 33,159,067 in 2023[5] - The total equity attributable to shareholders decreased by 2.1% to RMB 14,103,913 in 2024 from RMB 14,404,267 in 2023[5] User Engagement - Daily active users (DAUs) reached approximately 104 million, while monthly active users (MAUs) exceeded 341 million, reflecting year-on-year growth of 6% and 4% respectively[11] - The average user spent over 102 minutes daily on the platform, contributing to a 12% increase in total user engagement time[11] - The number of active content creators reached approximately 4 million, with a monthly submission volume of 20.7 million[12] Corporate Governance - The company has committed to high corporate governance standards, transitioning to a primary listing status on the stock exchange[160] - Independent directors have confirmed their independence, reinforcing the board's integrity[157] - The board believes that the dual role of Chairman and CEO held by Chen Rui ensures consistent leadership and effective strategic planning[161] - The company has established three committees: the audit committee, remuneration committee, and nomination and corporate governance committee to oversee specific areas of corporate affairs[176] - The audit committee is composed of three independent directors, ensuring compliance with NASDAQ independence standards and includes a financial expert[178] Regulatory and Compliance Risks - The company faces significant regulatory risks from the Chinese government, which may severely limit or completely obstruct its ability to issue securities to investors[61] - The PCAOB's inability to inspect the company's auditors may lead to potential delisting of American Depositary Shares (ADS) in the U.S., significantly impacting investor value[61] - The company is subject to strict data privacy and cybersecurity laws in China, which could significantly impact its business if not adhered to[59] Employee and Social Responsibility - The company participates in various employee social insurance plans and provides commercial medical and accident insurance for its employees[50] - The company has committed to fulfilling social responsibilities and promoting sustainable growth, as detailed in its Environmental, Social, and Governance (ESG) report for the fiscal year ending December 31, 2024[64] - The company made charitable donations amounting to RMB 25.7 million during the reporting period[122] Shareholder and Financial Management - The board of directors did not recommend the distribution of an annual dividend for the fiscal year ending December 31, 2024[125] - The company has no dividend policy and currently does not plan to pay any cash dividends on its common stock in the foreseeable future[196] - The company has established a compensation committee to formulate the remuneration policy for directors[133] Strategic Initiatives - The company has a "community-first" development strategy, continuously investing in quality content to maintain its appeal to the younger generation[145] - The company has expanded its revenue sources significantly under the leadership of COO Li Ni, enhancing brand awareness[146] - The online platform's interactive feature, the bullet screen, remains a key component, with ongoing innovations led by President Xu Yi[147]