Page 1

Bilibili Inc. Announces Third Quarter 2021 Financial Results SHANGHAI , November 17 , 2021 -- Bilibili Inc. ( “ Bilibili " or the " Company " ) ( NASDAQ : BILI and HKEX : 9626 ) , an iconic brand and a leading video community for young generations in China , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . Third Quarter 2021 Highlights : Total net revenues reached RMB5,206.6 million ( US $ 808.0 million ) , a 61 % increase from the same period in 2020 . ● ● ● Average monthly active users ( MAUS ) reached 267.2 million , and mobile MAUs reached 249.9 million , representing increases of 35 % and 36 % , respectively , from the same period in 2020 . Average daily active users ( DAUs ) reached 72.1 million , a 35 % increase from the same period in 2020 . Average monthly paying users ( MPUS¹ ) reached 23.9 million , a 59 % increase from the same period in 2020 . " We are proud to announce another stellar quarter of quality growth , " said Mr. Rui Chen , the chairman of the board and chief executive officer of Bilibili . " During our peak summer season , user growth surged , engagement levels reached an all - time high , and we continued to expand our topline . In the third quarter , MAUS and DAUS each grew 35 % year - over - year , advancing us toward our 3 - year growth goal . Importantly , our community is stickier and more engaged than ever . Users spent an average of 88 minutes per day on Bilibili , the longest time we have seen in our operating history . Along with our growth , we are deepening our commitment as a responsible public company . We continue to cultivate an inclusive community , promoting positive content and engaging in better environmental , social and governance practices . We hope to instill heartening Chinese culture and values across our community , and bring more ' Created - in - China ' content to the world . " Mr. Sam Fan , chief financial officer of Bilibili , said , " We closed the third quarter with record high revenues of RMB5.2 billion , up 61 % year - over - year . Our revenue mix is more balanced and healthier , and we continue to improve monetization across our growing businesses . Motivated by our expansive brand influence , revenues from our advertising business continued to increase , up 110 % in the third quarter to RMB 1.2 billion , compared with the same period in 2020. MPUs also grew to 24 million in the third quarter , up 59 % year - over year , and our paying ratio reached 8.9 % . We believe we are on the right path to achieve our near- and long term goals , fortified by our strong fundamentals , healthy balance sheet and ample cash reserves of RMB24.4 billion . " Third Quarter 2021 Financial Results Total net revenues . Total net revenues were RMB5,206.6 million ( US $ 808.0 million ) , representing an increase of 61 % from the same period of 2020 . Mobile games . Revenues from mobile games were RMB1,391.7 million ( US $ 216.0 million ) , representing an increase of 9 % from the same period of 2020 . Value - added services ( VAS ) . Revenues from VAS were RMB1,908.9 million ( US $ 296.3 million ) , representing an increase of 95 % from the same period of 2020 , mainly attributable to the Company's enhanced monetization efforts , led by an increased number of paying users for the Company's value - added services including the premium membership program , live broadcasting services and other value - added services . Advertising . Revenues from advertising were RMB1,172.0 million ( US $ 181.9 million ) , representing an increase of 110 % from the same period of 2020. This increase was primarily attributable to further recognition of Bilibili's brand name in China's online advertising market , as well as Bilibili's improved advertising efficiency .