Investor Presentation March 2026 Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue," or other similar expressions. Among other things, quotations from mana ...

Operational & User Growth - Bilibili's MAUs reached 376 million[5] - Bilibili's DAUs reached 117 million[5], a 9% year-over-year increase[7] - Average daily time spent per user increased to 112 minutes[5], a 6% year-over-year increase[7] Financial Performance - Bilibili's net revenue reached RMB 7685 million[55] in 25Q3, a 5% year-over-year increase[68] - Gross profit margin improved to 36.7%[9] - Adjusted net profit was RMB 786 million[9], a 233% year-over-year increase[9] Revenue Breakdown - Value-added services revenue was RMB 3023 million[36], a 7% year-over-year increase[68], contributing 39% to total revenue[55] - Advertising revenue was RMB 2570 million[45], a 23% year-over-year increase[45], accounting for 33% of total revenue[55] - Mobile games revenue was RMB 1511 million[68], a 17% year-over-year decrease[68], representing 20% of total revenue[55] - IP derivatives and others revenue was RMB 581 million[68], a 3% year-over-year increase[68], making up 8% of total revenue[55] User Demographics - Bilibili has unparalleled leadership in China's young generation[15] - 7 out of 10 Gen Z+ (1985-2009) population in China are Bilibili users[15]

Operational Performance - Bilibili's DAUs reached 109 million in Q2 2025[4], a 7% year-over-year increase[6] - Average daily time spent per user increased to 105 minutes in Q2 2025[4], a 6% year-over-year increase[6] Financial Highlights - Gross profit margin (GPM) improved to 36.5% in Q2 2025[8] - The company achieved a non-GAAP net profit of RMB 561 million in Q2 2025[8] - Net profit margin (NPM) reached 7.6% in Q2 2025[8] - Gross profit increased by 46% year-over-year to RMB 2676 million in Q2 2025[8] Industry and User Base - The video-based industry is expected to grow significantly, with the market size projected to reach RMB 2940 billion by 2030[11] - Bilibili has a strong presence among Gen Z+ users in China, with 7 out of 10 being users of the platform[14] - 43% of DAUs viewed video and live commerce related content[14] Revenue Streams - Value-added services (VAS) revenue grew by 11% year-over-year[34] - Advertising revenue increased by 20% year-over-year[44] - Mobile game revenue increased by 60% year-over-year[54] - Total net revenues increased by 20% year-over-year to RMB 7338 million[70]

User Metrics - Bilibili's DAUs reached 107 million in 25Q1[4], showing steady growth from 60 million in 21Q1[6] - Average daily time spent per user was 108 minutes in 25Q1[4], increasing from 82 minutes in 21Q1[6] - Bilibili has 368 million MAUs[4] and 32 million MPUs[4] Financial Performance - Total net revenues reached RMB 7003 million in 25Q1, a 24% year-over-year increase[69] - Value-added services revenue was RMB 2807 million in 25Q1, up 11% year-over-year[69] - Advertising revenue grew to RMB 1998 million in 25Q1, a 20% year-over-year increase[69] - Mobile game revenue was RMB 1731 million in 25Q1, a significant increase of 76% year-over-year[69] - Gross profit margin improved to 363% in 25Q1[8], compared to 283% in 24Q1[8] - The company achieved a non-GAAP net profit of RMB 362 million in 25Q1[8] Market Opportunity - The video-based industry is projected to grow significantly, with the market size expected to reach RMB 2940 billion by 2030[11], a 24x increase from RMB 1242 billion in 2023[11]