Core Viewpoint - Bilibili (NASDAQ: BILI, HKEX: 9626) reported strong financial results for Q2 2025, with total revenue reaching 7.34 billion RMB, a 20% year-on-year increase, and achieving record high net profits [1][4]. Financial Performance - Total revenue for Q2 2025 was 7.34 billion RMB, up 20% year-on-year [1][4]. - Gross profit increased by 46% year-on-year, with a gross margin of 36.5%, marking the twelfth consecutive quarter of improvement [1][4][12]. - Net profit reached 220 million RMB, while adjusted net profit was 560 million RMB, both setting historical highs [1][4]. User Engagement - Daily active users reached a new high, with an average daily usage time of 105 minutes, and video playback time for videos over 5 minutes increased by approximately 20% year-on-year [1][2][14]. - The number of "official members" who passed the entrance exam grew to 270 million, an 11% year-on-year increase, with a stable 12-month retention rate of 80% [1][2]. Content and Community Growth - Bilibili maintained high user engagement, with over 16 million users logging in for more than 360 days in 2024, and 26 million monthly active users [2][14]. - The anime and ACG (Animation, Comics, and Games) content saw a 25% increase in playback time, while AI content grew by 61% year-on-year [2][3][12]. - The second season of the animated series "Ling Cage" garnered over 330 million views, with over 11 million series followers [2][20]. Revenue Breakdown - Revenue contributions from various segments included 39% from value-added services, 33% from advertising, 22% from games, and 6% from IP derivatives and other businesses [4][12]. - Advertising revenue reached 2.45 billion RMB, a 20% year-on-year increase, with brand advertising and performance advertising growing by approximately 30% [4][12]. - Game revenue for Q2 was 1.61 billion RMB, reflecting a 60% year-on-year growth [4][12]. Creator Monetization - Approximately 2 million creators (UP主) earned income through various channels, with significant growth in revenue from advertising and e-commerce [3][17]. - The number of creators earning through advertising and live streaming increased by 19% and 49% year-on-year, respectively [3][17]. - The total income from creators through charging mechanisms grew by over 100% year-on-year [3][17]. Cash Flow and Shareholder Returns - The company achieved a positive operating cash flow of 1.99 billion RMB in Q2 and completed a stock buyback of approximately 100 million USD to enhance shareholder returns [5][12]. - As of June 30, 2025, Bilibili held cash and cash equivalents totaling 22.29 billion RMB [5].