BILIBILI(HK:09626) 第一财经·2025-08-21 15:34Core Viewpoint - Bilibili (B站) reported a strong Q2 performance with total revenue of 7.34 billion RMB, a 20% year-on-year increase, and achieved net profit and adjusted net profit at historical highs of 220 million RMB and 560 million RMB respectively, compared to a net loss of 600 million RMB in the same period last year [2][5]. Revenue Breakdown - The revenue sources for Bilibili in Q2 were primarily from value-added services (39%), advertising (33%), and mobile games (22%) [5]. - The revenue from the gaming segment reached 1.61 billion RMB, marking a 60% year-on-year growth [6]. - Advertising revenue was 2.45 billion RMB, also up 20% year-on-year, with a notable 30% increase in performance advertising revenue [6]. User Engagement - Bilibili's daily active users reached 109 million, a 7% increase year-on-year, while monthly active users were 363 million, up 8% year-on-year [6]. - The average age of users increased to 26 years, with new users averaging 22 years old [6]. Financial Health - As of June 30, 2025, Bilibili held cash and cash equivalents totaling 22.29 billion RMB [8]. AI and Content Creation - AI content emerged as the fastest-growing technology category for Bilibili, with advancements in AI-assisted video creation expected to enhance user-generated content [7]. - Approximately 2 million content creators (UP主) earned income through various channels, with significant growth in revenue from advertising and live streaming [7].