Jin Rong Jie·2025-08-22 01:17Core Viewpoint - Bilibili reported a strong financial performance for Q2 2025, with significant revenue growth and a return to profitability compared to the same period in the previous year [1][19]. Financial Performance - Total net revenue reached 7.34 billion yuan (approximately 1.024 billion USD), representing a year-on-year increase of 20% [4]. - Net profit was 218.3 million yuan (approximately 30.5 million USD), a turnaround from a net loss of 608.1 million yuan in Q2 2024 [19]. - Adjusted net profit, not in accordance with GAAP, was 561.3 million yuan (approximately 78.4 million USD), compared to an adjusted net loss of 271 million yuan in the same quarter last year [19]. User Engagement - Average daily active users (DAU) for Q2 were 109.4 million, reflecting a year-on-year growth of 7% [2]. - Monthly active users (MAU) increased by 8% year-on-year, while the number of monthly paying users grew by 9% [2]. Revenue Breakdown - Revenue from value-added services was 2.84 billion yuan (approximately 396 million USD), up 11% year-on-year [5]. - Advertising revenue amounted to 2.45 billion yuan (approximately 342 million USD), also up 20% [6]. - Revenue from mobile games surged by 60% to 1.61 billion yuan (approximately 225 million USD) [7]. - Revenue from IP derivatives and other businesses declined by 15% to 439.9 million yuan (approximately 61.4 million USD) [8]. Cost and Profitability - Revenue cost was 4.66 billion yuan (approximately 650.8 million USD), a significant increase of 90% year-on-year [9]. - Gross profit was 2.68 billion yuan (approximately 373.5 million USD), reflecting a 46% increase [11]. - Operating profit was 251.6 million yuan (approximately 35.1 million USD), a recovery from an operating loss of 585.1 million yuan in the previous year [16]. Cash Flow and Assets - Cash generated from operating activities was 1.99 billion yuan (approximately 277.7 million USD), compared to 1.75 billion yuan in Q2 2024 [3]. - As of June 30, 2025, Bilibili held cash and cash equivalents, time deposits, and short-term investments totaling 22.29 billion yuan (approximately 3.11 billion USD) [20]. Stock Buyback - In Q2, Bilibili repurchased 5,588,140 Class Z ordinary shares for a total amount of 782.9 million HKD [21]. - The company has repurchased a total of 6.4 million listed securities under a 200 million USD buyback plan, with approximately 83.6 million USD remaining [21].