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v3.25.1

Operations (Tables) | 12 Months Ended
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Dec. 31, 2024
Operations and Reorganization |
Schedule of Company's major subsidiaries and VIEs and subsidiaries of the VIEs | As of December 31, 2024, the Company’s major subsidiaries, VIEs and subsidiaries of the VIEs are as follows:
Major Subsidiaries |  | Place and Year of Incorporation |  | Percentage of Direct or Indirect Economic Ownership |  | Principal Activities
Bilibili HK Limited |  | Hong Kong, 2014 |  | 100 |  | Investment holding
Hode HK Limited |  | Hong Kong, 2014 |  | 100 |  | Investment holding
Chaodian HK Limited |  | Hong Kong, 2019 |  | 100 |  | Investment holding
Bilibili Co., Ltd. |  | Japan, 2014 |  | 100 |  | Business development
Hode Shanghai Limited (“Hode Shanghai”) |  | PRC, 2014 |  | 100 |  | Technology development 1
Shanghai Bilibili Technology Co., Ltd. |  | PRC, 2016 |  | 100 |  | Technology development 1
Chaodian (Shanghai) Technology Co., Ltd. |  | PRC, 2019 |  | 100 |  | E-commerce and advertising 1
Major VIEs and VIEs’ subsidiaries |  | Place and Year of Incorporation |  | Percentage of Direct or Indirect Economic Interest |  | Principal Activities
Shanghai Hode Information Technology Co., Ltd. (“Hode Information Technology”) |  | PRC, 2013 |  | 100* |  | Mobile game operation 2
Shanghai Kuanyu Digital Technology Co., Ltd. (“Shanghai Kuanyu”) |  | PRC, 2014 |  | 100* |  | Video distribution and game distribution 2
Sharejoy Network Technology Co., Ltd. (“Sharejoy Network”) |  | PRC, 2014 |  | 100* |  | Game distribution 2
Shanghai Hehehe Culture Communication Co., Ltd. (“Shanghai Hehehe”) |  | PRC, 2014 |  | 100* |  | Comics distribution 2
Shanghai Anime Tamashi Cultural Media Co., Ltd. (“Shanghai Anime Tamashi”) |  | PRC, 2015 |  | 100* |  | E-commerce platform 2
* | Hode Shanghai is the primary beneficiary of the major VIEs and VIEs’ subsidiaries.
1 | These companies were established in the PRC in the form of wholly foreign-owned enterprises.
2 | These companies were established in the PRC in the form of investment solely by legal corporations or controlled by natural person(s).
Schedule of combined financial information of the Group's VIEs and VIEs' subsidiaries included in the accompanying consolidated financial statements of the Group | The following combined financial information of the Group’s VIEs and VIEs’ subsidiaries as of December 31, 2023 and 2024 and for the years ended December 31, 2022, 2023 and 2024 included in the accompanying consolidated financial statements of the Group was as follows:
|  | December 31, 2023 |  |  | December 31, 2024 |
|  | RMB in thousands |
Cash and cash equivalents |  |  | 1,893,282 |  |  |  | 2,108,946 |
Time deposits |  |  | 4,259 |  |  |  | 21,560 |
Restricted cash |  |  | 50,000 |  |  |  | 50,000 |
Accounts receivable, net |  |  | 800,158 |  |  |  | 623,464 |
Amounts due from Group companies |  |  | 484,413 |  |  |  | 532,700 |
Amount due from related parties |  |  | 3,412 |  |  |  | 17,233 |
Prepayments and other current assets |  |  | 477,430 |  |  |  | 382,386 |
Short-term investments |  |  | 206,811 |  |  |  | 537,432 |
Long-term investments, net |  |  | 1,633,932 |  |  |  | 1,714,647 |
Other non-current assets |  |  | 5,216,774 |  |  |  | 4,647,176 |
Total assets |  |  | 10,770,471 |  |  |  | 10,635,544 |
Accounts payable |  |  | 3,320,121 |  |  |  | 3,650,374 |
Salary and welfare payables |  |  | 310,062 |  |  |  | 426,568 |
Taxes payable |  |  | 123,728 |  |  |  | 135,235 |
Short-term loan s |  |  | 600,000 |  |  |  | 600,000 |
Deferred revenue |  |  | 2,116,463 |  |  |  | 2,727,174 |
Accrued liabilities and other payables |  |  | 619,556 |  |  |  | 895,670 |
Amounts due to the Group companies |  |  | 12,631,675 |  |  |  | 10,362,724 |
Amounts due to related parties |  |  | 14,845 |  |  |  | 4,463 |
Other long-term payable |  |  | 302,203 |  |  |  | 400,630 |
Total liabilities |  |  | 20,038,653 |  |  |  | 19,202,838 |
Total Bilibili Inc’s shareholders’ deficit |  |  | (9,279,384 | ) |  |  | (8,575,962 | )
Noncontrolling interests |  |  | 11,202 |  |  |  | 8,668 |
Total shareholders’ deficit |  |  | (9,268,182 | ) |  |  | (8,567,294 | )
Total liabilities and shareholders’ deficit |  |  | 10,770,471 |  |  |  | 10,635,544 |
|  | For the Year Ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |
|  | RMB in thousands |
Third-party revenues |  |  | 14,876,639 |  |  |  | 14,642,361 |  |  |  | 17,393,878 |
Inter-company revenues |  |  | 1,198,107 |  |  |  | 990,698 |  |  |  | 916,759 |
Total revenues |  |  | 16,074,746 |  |  |  | 15,633,059 |  |  |  | 18,310,637 |
Third-party costs and expenses |  |  | (18,436,865 | ) |  |  | (15,591,936 | ) |  |  | (16,539,124 | )
Inter-company consulting and services costs and expenses |  |  | (726,875 | ) |  |  | (581,599 | ) |  |  | (1,282,159 | )
Other inter-company costs and expenses |  |  | (418,667 | ) |  |  | (282,725 | ) |  |  | (154,393 | )
Total costs and expenses |  |  | (19,582,407 | ) |  |  | (16,456,260 | ) |  |  | (17,975,676 | )
(Loss)/profit from non-operations |  |  | (268,584 | ) |  |  | (263,022 | ) |  |  | 243,418 |
(Loss)/profit before income tax expenses |  |  | (3,776,245 | ) |  |  | (1,086,223 | ) |  |  | 578,379 |
Income tax (expense)/benefit |  |  | (89,660 | ) |  |  | (31,321 | ) |  |  | 45,147 |
Net (loss)/profit |  |  | (3,865,905 | ) |  |  | (1,117,544 | ) |  |  | 623,526 |
Net loss/(profit) attributable to noncontrolling interests |  |  | 9,088 |  |  |  | (9,587 | ) |  |  | 17,135 |
Net (loss)/profit attributable to Bilibili Inc.’s shareholders |  |  | (3,856,817 | ) |  |  | (1,127,131 | ) |  |  | 640,661 |
|  | For the Year Ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |
|  | RMB in thousands |
Consulting and services charges to Group companies |  |  | (610,600 | ) |  |  | (760,716 | ) |  |  | (640,317 | )
Other operating cashflow from/(to) Group companies |  |  | 3,863,991 |  |  |  | 1,822,310 |  |  |  | (129,306 | )
Operating cashflow (to)/from third-parties |  |  | (2,339,697 | ) |  |  | 828,787 |  |  |  | 4,815,447 |
Net cash provided by operating activities |  |  | 913,694 |  |  |  | 1,890,381 |  |  |  | 4,045,824 |
Purchase of short-term investments |  |  | (7,335,115 | ) |  |  | (1,126,000 | ) |  |  | (8,204,894 | )
Maturities of short-term investments |  |  | 7,970,552 |  |  |  | 1,126,500 |  |  |  | 7,873,769 |
Placements of time deposits |  |  | (1,270 | ) |  |  | (5,701 | ) |  |  | (28,500 | )
Maturities of time deposits |  |  | 4,444 |  |  |  | 5,701 |  |  |  | 11,424 |
Other investing activities |  |  | (2,188,712 | ) |  |  | (944,970 | ) |  |  | (1,091,578 | )
Net cash used in investing activities |  |  | (1,550,101 | ) |  |  | (944,470 | ) |  |  | (1,439,779 | )
Investments and loans from/(to) Group companies |  |  | 1,884,890 |  |  |  | (695,870 | ) |  |  | (1,700,509 | )
Other financing activities |  |  | — |  |  |  | 92,265 |  |  |  | (698,000 | )
Net cash provided by/(used in) financing activities |  |  | 1,884,890 |  |  |  | (603,605 | ) |  |  | (2,398,509 | )

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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