An iconic brand and a leading video community for young generations in China, Bilibili Inc. (NASDAQ: BILI) inches down in early trading session on Tuesday as it announced that the Company’s voluntary conversion of its secondary listing status to primary listing on the Main Board of The Stock Exchange of Hong Kong Limited became effective today. Bilibili is now a dual-primary-listed company on the Hong Kong Stock Exchange in Hong Kong and the Nasdaq Global Select Market in the United States.
“We believe our conversion from a secondary to a primary listing on the Hong Kong Stock Exchange will further expand our investor base, as well as provide more liquidity for our securities and more flexibility in the capital market,” said Mr. Rui Chen, chairman and chief executive officer of Bilibili. “Moreover, our Class Z ordinary shares listed on the Hong Kong Stock Exchange may soon become eligible for the Mainland-Hong Kong Stock Connect program, which will provide accredited investors in Mainland China access to trade our shares directly.”
The Company’s Class Z ordinary shares listed on the Hong Kong Stock Exchange and the Company’s American depositary shares quoted on the Nasdaq Global Select Market are mutually fungible.
Bilibili Inc. (NASDAQ: BILI) announced its unaudited financial results for the second quarter ended June 30, 2022.
“Confronting the immense challenges of the macro-environment and COVID-19 lockdowns in the second quarter, we are pleased to have continued to grow our high-quality user base and control our expenses. We believe the largest impact of the pandemic is behind us, and we are poised to regain our growth momentum and improve our margins in the second half of 2022,” said Mr. Rui Chen, chairman and chief executive officer of Bilibili. “Our ever-growing content in various formats, such as Story Mode, steered our growing user base and increased user engagement in the second quarter. Particularly, our MAUs reached a record 306 million, up 29% year-over-year, marking another exciting milestone. Our DAUs grew even faster at 33% year-over-year, driving our DAU/MAU ratio to 27.3%, up from 26.4% in the same period last year. The execution of our monetization initiatives also supported our ability to convert users to paying users in the second quarter. Simultaneously, we grew our advertising market share, bucking broad industry trends. Moving through the back half of 2022, we expect to benefit from an improved macro-landscape where we can further grow our business, while continuing to control costs and close the gap on our net loss.”