Slide 1: Investor Presentation
Investor Presentation May 2024 1
Slide 2: Safe Harbor Statement
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,” “antici
Slide 3: Enrich the everyday life of young generations in China
Enrich the everyday life of young generations in China 102mn 341mn 29mn 105mins DAUs (1) (2) MAUs (1) (2) MPUs (1) (3) Avg. daily time spent (1) (4) :
Slide 4: Operational Highlights: Rapid Growth of DAUs and MAUs
Operational Highlights：Rapid Growth of DAUs and MAUs DAUs MAUs (mn) (mn) 2.0x 341 102 315 2.0x 94 294 79 223 60 172 51 20Q1 21Q1 22Q1 23Q1 24Q1 20Q1 21Q1 22Q1 23Q1 24Q1 4
Slide 5: Financial Highlights: Improving Margins and Narrowing Losses
Financial Highlights： Improving Margins and Narrowing Losses Gross Profit Net Loss(1) (RMB mn) (Non-GAAP; RMB bn) YOY 45% YOY -56% 28.3% GPM 26.1% 25.0% 23.1% 21.8% 1,660 1,605 (0.46) 1,450 (0.56) 1,228 1,104 (0.86) (0.96) (1.03) 23Q1 23Q2 23Q3 23Q4 24Q1 23Q1 23Q2 23Q3 23Q4 24Q1 Note: 5 (1) Excludin
Slide 6: Golden Opportunity from Videolization
Golden Opportunity from Videolization Video becomes fundamental to information, entertainment and communication Massive Video-Based Industry(1) More Time Spent(2), More Spending(3) (RMB bn) (Hours per day) (RMB) Infrastructure 2,940 AI, 5G, and various +27% 5.7 5,076 video production tools 2.4x 4.5
Slide 7: Our Unparalleled Leadership in Gen Z+
Our Unparalleled Leadership in Gen Z+ The golden cohort and future of the video-based industry Unparalleled leadership in China’s young generation High-quality user base with strong consumer buying power 48% of our users are female with higher interest in commercial contents(1) of our users live in
Slide 8: The Story
The Story User-centric with massive opportunities Commercialization Highly engaged, Ever-growing ecosystem Users centered around PUGV Aspiring and interactive and sticky fast growing Content Community 8
Slide 9: Multi-Categories for Diverse Content Interests
Content Community Commercialization Multi-Categories for Diverse Content Interests Leading categories Emerging categories Our leading content categories continue to bring natural Emerging content categories reflect the evolving interests of Gen Z+ traffic and retain users on our platform attracting
Slide 10: Multi-Scenarios for Different Viewing Preferences
Content Community Commercialization Multi-Scenarios for Different Viewing Preferences Total time spent (1) On-the-go Interactive Living rooms 19% 23Q1 24Q1 Average daily video views Story Mode for fragmented time is 22% quickly gaining popularity Story Mode & PUGV and OGV contributing incremental tr
Slide 11: Robust Mechanism Attracts and Supports Content Creators
Content Community Commercialization Robust Mechanism Attracts and Supports Content Creators 1.5mn+ 50%+ 100%+ content creators yoy increase in number of content yoy increase in number of content received income on Bilibili(1) creators earned income through creators earned income from Sparkle adverti
Slide 12: Highly Engaged and Interactive Community
Content Community Commercialization Highly Engaged and Interactive Community Interactive Features Frequently Engaged by Our Users One Click Triple-Function Combo Coin- Add to Bullet-chat Commentary Share Following Virtual Fan Moment Like Gifting Charging casting Favorite Highly Engaged Highly Intera
Slide 13: Highly Sticky Community with a Strong Sense of Belonging
Content Community Commercialization Highly Sticky Community with a Strong Sense of Belonging 236mn official members(1) ~80% 12-month retention rate(1)(2) (mn) 15% 100% YOY 80% 236 230 224 60% 214 205 40% 20% 0% 0 3 6 9 12 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 23Q1 23Q
Slide 14: Commercialization Comes Naturally Around Users’ Interests
Content Community Commercialization Commercialization Comes Naturally Around Users’ Interests Users’ diverse, expanding interests Desired content and services fulfilling needs Create significant potential for monetization VAS Advertising AI-enabled algorithms Mobile IP Derivatives Games and others B
Slide 15: Value-Added Services: Multi-Faceted Commercialization
Content Community Commercialization Value-Added Services: Multi-Faceted Commercialization Our additional unique value-added services Premium course Paid course for more structured learning Fan charging Support content creators and access to exclusive PUGV content Avatar decoration Enable personalize
Slide 16: Value-Added Services: Multi-Faceted Commercialization
Content Community Commercialization Value-Added Services: Multi-Faceted Commercialization (RMB mn) 17% YOY 2,857 2,595 2,529 2,302 2,156 23Q1 23Q2 23Q3 23Q4 24Q1 16
Slide 17: Advertising: Bilibili is Becoming a Go-To Platform for Advertisers
Content Community Commercialization Advertising: Bilibili is Becoming a Go-To Platform for Advertisers N-reach brand ads Customized and innovative Performance-based ads native ads with sales conversion add-on 17
Slide 18: Video and Live Commerce: A New Growth Driver Integrating Content with Ads
Content Community Commercialization Video and Live Commerce: A New Growth Driver Integrating Content with Ads Video commerce ad products Live commerce ad products 19
Slide 19: Advertising Revenues: Robust Growth with Great Potential
Content Community Commercialization Advertising Revenues: Robust Growth with Great Potential (RMB mn) 31% YOY 1,929 1,638 1,669 1,573 1,272 23Q1 23Q2 23Q3 23Q4 24Q1 19
Slide 20: Top Game Content Community with Strong Operation and Distribution Capabilities
Content Community Commercialization Top Game Content Community with Strong Operation and Distribution Capabilities Exclusive licensed games Jointly operated games Go-to video community for gamers Game-related content is 2nd most popular PUGV genre Most popular live broadcasting genre (1) (2) 40%+ DA
Slide 21: Our Financials
bili OUR FINANCIALS
Slide 22: Robust Growth Driven by Diverse Revenue Mix
Robust Growth Driven by Diverse Revenue Mix (RMB mn) 12% YOY 6,349 5,805 9% 5,665 5,304 10% 5,070 16% 9% 10% 10% 17% 17% 17% 22% 30% 28% 29% 30% 25% 45% 45% 43% 45% 43% 23Q1 23Q2 23Q3 23Q4 24Q1 VAS Advertising Mobile game IP derivatives and others 22
Slide 23: Improving Cost Structure and Gross Margin
Improving Cost Structure and Gross Margin Cost of Revenues (as a percentage of revenue %) 28.3% GPM 26.1% 25.0% 23.1% 21.8% 4% 4% 6% 5% 5% 6% 7% 4% 8% 7% 7% 8% 9% 13% 7% 10% 14% 14% 14% 16% 45% 42% 42% 40% 39% 23Q1 23Q2 23Q3 23Q4 24Q1 Revenue-sharing costs(1) Content costs(2) IP derivatives and othe
Slide 24: Narrowing Operating Losses
Narrowing Operating Losses Operating Expenses(1) Operating Loss(1) (Non-GAAP; as a percentage of revenue %) (Non-GAAP; RMB bn) 43% 41% 38% -52% 37% 37% YOY 14% 18% 17% 16% 15% (0.51) (0.64) 5% (0.76) 8% 7% 5% 6% (0.93) (1.07) 18% 17% 17% 17% 16% 23Q1 23Q2 23Q3 23Q4 24Q1 23Q1 23Q2 23Q3 23Q4 24Q1 Sale
Slide 25: Improving Operating Cash Flow
Improving Operating Cash Flow (RMB mn) 640 638 277 (21) (630) 23Q1 23Q2 23Q3 23Q4 24Q1 25
Slide 26: Consolidated Balance Sheets
Consolidated Balance Sheets (RMB mn) Dec 31, 2023 March 31, 2024 Assets Cash and cash equivalents 7,192 6,037 Time deposits 5,195 5,051 Restricted Cash 50 50 Accounts receivable, net 1,574 1,278 Prepayments and other current assets 2,063 1,878 Short-term investments 2,653 1,833 Total current assets
Slide 27: Consolidated Statements of Operations and Comprehensive Loss
Consolidated Statements of Operations and Comprehensive Loss (RMB mn) 23Q1 23Q4 24Q1 YoY Change Net revenues Value-added services 2,156 2,857 2,529 17% Advertising 1,272 1,929 1,669 31% Mobile games 1,132 1,007 983 -13% IP derivatives and others 510 556 484 -5% Total net revenues 5,070 6,349 5,665 1
Slide 28: Thank You
THANK YOU BILIBILI Investor Relations IR Contacts: IR Mini Program BILIBILI Inc. Juliet Yang Tel: +86-21-2509-9255 Ext. 8523 E-mail: ir@bilibili.com IR Website Piacente Financial Communications https://ir.bilibili.com Tel: +86-10-6508-0677 (In China) Tel: +1-212-481-2050 (In U.S.) E-mail: bilibili@t