BILIBILI(HK:09626) Sou Hu Cai Jing·2025-05-20 06:22Core Viewpoint - Bilibili's chairman Chen Rui's annual salary of 254 million yuan has sparked significant public outrage, especially given the company's history of losses and the stark contrast with other industry leaders like Tencent's Ma Huateng, whose salary is only 45.07 million yuan [1][3]. Group 1: Salary Breakdown - Chen Rui's reported salary is primarily composed of stock incentives, with 99.1% of the total being stock options rather than cash [3][5]. - The basic salary is 2.115 million yuan, accounting for approximately 0.83% of the total compensation [5]. Group 2: Company Performance - Bilibili is projected to turn a profit in 2024 after nine consecutive years of losses, marking a significant milestone for the company [7][9]. - The turnaround is attributed to two main factors: a 40% increase in game revenue, reaching 5.61 billion yuan, and a 40% growth in advertising revenue as brands increasingly target young users on the platform [9][12]. Group 3: Public Sentiment and Industry Context - The public reaction is fueled by the perception of disparity between high executive compensation and the struggles of regular employees, especially in light of recent industry layoffs [9][12]. - Concerns are raised about whether the high-level incentives are shared with lower-level employees and if the performance metrics for these incentives are genuinely tied to company success rather than superficial achievements [16][17].