哔哩哔哩-W2025年度报告

����年度報告 嗶哩嗶哩股份有限公司港交所代號：9626納斯達克代號：BILI（於開曼群島註冊成立以不同投票權控制的有限責任公司） 235914384260798487899295176177 7886603 JP Gan Walkers Corporate Limited190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands JP Gan Walkers Corporate Limited 190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands JP Gan 1831717121716 JP Gan 2920 JP Gan 9626BILI 22 4853 https://ir.bilibili.com/ 2025 20251.123.688%10820246 20253,40010023%202526 202513%303.527%202432.7%36.6%202511.9202413.6 AIAILLMsAIGCAIAI 2025ACG55%20%AI 73%19%16%2025780 202540015%2,400AI2025UP20%UP2025300UP21%1,000 2025108614%20252.841280%20257Bilibili WorldBilibili Macro Link4060%2025 2025 20258%119.3 202525.312%80% PUGV2025PUGV 202523%100.6 2025AI150% AILLMsAI 202514%63.9202510 202510300 20255690.020300.625%678.1 5,588,140Z782.9100.02025Z 220261168.82.99.9 20252026PUGV AI2026AIAI 303.5202413% 119.320248% 100.6202423% 63.9202414%20252025 IP IP19.720243% 192.320247%120.9202412% 111.1202427% 99.920241% 43.92024 20.62024 35.320244% 11.2202413.4 24.4202460.8 83.6202456.2 17.1202436.5 11.9202413.6 25.9202439.0 20251231241.520241231165.42030678.1 71.5202460.1 20251231 20251231 20251231 2025123162.2%2024123156.9% 20251231 20251231 202512318,423202412318,088 20241126.2114.82025123168.8 20251231 20251231 JP Gan 3841 20131223 1 5513 2025123120-F Z PCAOBPCAOB PCAOB(HFCAA) 20251231 50% 20142019 19,679.6202418,310.664.8%202468.2%11,428.3202410,635.527.8%202432.5% (i)(ii)ACGACGACG (1) 20201223 (a)(b)(c)(d)(5) 1 1 20201223(i)(30)(ii)(iii)(iv)(v) 20201223 2020930 (2) 20201223 11 20201223(i)(ii) 20201223 2020930 (3) 2021824 (i)(ii)(iii)(iv)(v) 20201223 2020930 (4) 2021824(i)(ii)(iii)(iv)(v)(vi)(vii) 2021824(i)(ii) 20201223 2020930 202252 202411142025112027123120241114 2023126202611202511202026112028123120251120 14A (1) 20251120271231 2025123183.02025123170.4 (2) 20251120271231 20251231348.620251231336.8 (3) 20251120271231 20251231695.520251231343.420251231285.620251231208.1 20241114 (4) 2023126202611 2025123140.02025123129.6 2023126202511202026112028123120251120 202512312214A14A 300074014A.561729 8A.24YZY 2025123179,700,010Y70.4%6,115,998ZYZY79,700,010YZ2025123119.2%6,115,998Z 20251231Vanship Limited48,032,802Y42.4%VanshipLimited20251231Saber Lily Limited7,200,000Y6.4%Saber Lily Limited20251231Kami Sama Limited24,467,208Y2,900,000Z45,000Z21.6%Kami Sama Limited 8A.22YY (i)8A.17(1)(2)(3)(4)(ii)8A.18Y(iii)Y8A.18(2)(iv)YZ C18A 2025123110%10% 1 202512317 20251231 3.7 20251231 154469 20251231912(aa) 20251231 202512311416 30 30 20182024 18 20194500.01.375%2026411.881.120264488.23,356.12026411,00040.404024.7520264 20206800.01.25%202713.998.62027786.15,594.820276151,00024.551640.732027 2021111,6000.50%20261223.4149.62026121,576.610120261211,00010.641993.97202612202612Z 202550.625%203020302030678.12030611,00042.1747185.632030Z2030Z 20256202766.0472.5202766.0472.5 20251231703.3 2026416 4820141120 NYSECMCM2009200920102001200838882001 402014112015120211003(NYSECMCM)20132014Goalcareer500200820122008 362009201120132013122010 JP Gan54201512019GanINCE Capital Limited20062019GanGanTCOM9961Gan19941999 66201832020API2011820175JOYY2007320118200420071991 522014112016520192IDGIDG255968877519961998 562020520192017202330024420042017201220171997 47201792016420112016NTES99992011200820112023503142024621722001 Vistra Corporate Services (HK) Limited102021 13.51B(1) 8.10 8.10 3.13 13.2013.2113.22 企業管治報告 20251231 C1 C.2.1 F.1.1202571 JP Gan 3841 C.5.114 15512 3.13 A14(2)B.2.2 C1C.1.2C.1.6C.1.7 3.21 JP GanJP Gan5605(c)(2)10A-3 52024123120251231 3.25 17 JP GanJP Gan 1172018 2025625JP Gan12JPGan2018 202512311820251231 3.27A8A.278A.282025520JP GanJP Gan 8A.302025520JP GanJP Gan 2 8A8A8A8A.178A.148A.15 8A.188A.24 8A.35 (i)(ii)8A.178A.30(4)(6)(iii)8A.148A.158A.188A.24 2025123114.3% 20251231(i) 475%25%(ii) 8,41956%44% (i)(ii)(iii) (iv)(v) ZZZ 202210 20251231 202210 J(a) 20251231 15 20251231 62(1/10) 4853+86-21-2509-9255ir@bilibili.com 2022103 (i)(ii)(iii)(iv)(v)(vi) 2025 20251231 20251231XV(a)XV78(b)352(c) (1)2025123179,700,010Y335,018,102Z6,115,998Z(2)(i)Vanship Limited48,032,802YVanship LimitedThe Le Petit Prince Trust(ii)5,412,000Z(3)(i)Saber Lily Limited7,200,000YSaber Lily LimitedThe Fortuna Trust(ii)3,412,000Z(4)(i)Kami Sama Limited24,467,208YKami Sama LimitedThe Homur Trust(ii)Kami Sama Limited2,900,000Z2,900,000Z(iii) 45,000Z(ii)Kami Sama Limited2,900,000Z(5)LS 20251231XVXV78352 20251231XV23336 79,700,010Y335,018,102Z6,115,998Z (2)2025123179,700,010Y341,134,100Z6,115,998Z (3)Vanship Limited48,032,802YVanship LimitedThe Le Petit Prince Trust(4)Kami Sama Limited24,467,208YKami Sama LimitedThe Homur Trust(5)Saber Lily Limited7,200,000YSaber Lily LimitedThe Fortuna Trust(6)JPMorgan Chase & Co.55,398,158Z33,422,684Z16,724,964ZJPMorgan Chase & Co.20251230ZJPMorgan Chase & Co.501,240Z857,040Z3