BILIBILI(US:BILI) Feng Huang Wang·2025-08-21 10:58Core Insights - Bilibili reported strong financial performance for Q2 2025, with total revenue reaching 7.34 billion RMB, a year-on-year increase of 20% [1][2] - The platform's community engagement metrics improved significantly, with daily active users reaching 109 million, a 7% increase year-on-year, and monthly active users at 363 million, up 8% [1][2] - Bilibili's gross profit increased by 46% year-on-year, with a gross margin of 36.5% [3] User Engagement - Daily average user engagement time increased to 105 minutes, up by 6 minutes compared to the same period last year [1] - The number of "official members" who passed the entrance exam reached 270 million, an 11% year-on-year growth, with a 12-month retention rate stable at 80% [1] - The average age of users rose to 26 years, while the average age of new users is 22 years, indicating a shift in user demographics while maintaining community vitality [1] Content Performance - Various content categories showed positive growth, with anime content viewing time increasing by 25% and game content viewing time up by 21% [2] - AI content emerged as the fastest-growing category, with viewing time increasing by 61% and daily submissions rising by 45% [2] - Offline events like Bilibili World attracted over 400,000 participants, showcasing the platform's community engagement [2] Revenue Breakdown - Revenue contributions from different segments included 39% from value-added services, 33% from advertising, 22% from gaming, and 6% from IP derivatives and other businesses [2] - Advertising revenue reached 2.45 billion RMB, a 20% year-on-year increase, while gaming revenue surged by 60% to 1.61 billion RMB [2]