Bilibili Inc. (BILI) is up 7.24% in the pre-market trading session at the price of $75.20 despite any recent news.
BILI Reported Second Quarter 2021 Financial Results
On 19th August 2021, BILI published its unaudited financial results for the second quarter ended 30th June 2021. Total net revenues for the second quarter of 2021 reached RMB4,495.3 million (US$696.2 million), a 72% rise from the same quarter of 2020. Gross profit was RMB989.0 million (US$153.2 million), denoting an increase of 64% from the same quarter in 2020. The increase was primarily due to increased net revenues. Loss from operations was RMB1,520.6 million (US$235.5 million). It was RMB610.1 million in the same period of 2020. Net loss was RMB1,121.8 million (US$173.7 million), compared with RMB570.9 million in the same period of 2020. Basic and diluted net loss per share was RMB2.91 (US$0.45) for the second quarter of 2021. Net loss, basic and diluted per share, was RMB1.63 in the same period of 2020.
CEO of BILI, Mr. Rui Chen commented that their robust second-quarter performance reveals that the high-quality user growth strategy is serving. In the second quarter of 2021, their total MAUs reached 237.1 million, indicating YoY growth of 38%. Their users remain sticky and involved, with the average user time spent on Bilibili growing to an astonishing 81 minutues per user per day. They have stayed true to their mission and root. They have built an incredible community for their users and content creators to promote Chinese content globally. They want to increase their facilitation of social development and positive cultural influence in society, he added.
Strategic Equity Investment in China Telecom
On 11th August 2021, BILI published that its PRC subsidiary Shanghai Bilibili Technology Co. has entered into a strategic investor allotment agreement with China Telecom Corporation Limited. China Telecom is an integrated intelligent information service provider in the PRC with full-service capacities. Under the allotment agreement, the Shanghai Bilibili has to invest almost RMB500 million in China Telecom’s newly issued A-shares. Shanghai Bilibili had allocated 110,375,000 of the issued A-shares, based on an offering price of RMB4.53 per share. Shanghai Bilibili will be subject to 36 months of lock-up obligations over the A shares.
Bilibili to Hold Extraordinary General Meeting
On 29th July 2021, BILI issued a notice that it has scheduled an extraordinary general meeting of shareholders on 1st September 2021. The meeting will be at Building 3, Guozheng Center, No. 485 Zhengli Road, Yangpu District, Shanghai, China. BILI’s board of directors supports the proposed Resolutions and advises that shareholders and holders of ADSs vote in favor of the resolutions set out in the Notice of EGM.
