Bilibili Inc. Announces Results of Extraordinary General Meeting

The repurchase is paired with Tencent’s subscription for US$200 million in convertible senior notes due 2031.

Rhea-AI Summary

Bilibili (Nasdaq: BILI; HKEX: 9626) secured shareholder approval for a US$200 million share repurchase under its agreement with Tencent subsidiaries.

The approved repurchase covers 13,591,090 Class Z ordinary shares, including shares in the form of American depositary shares. It will close concurrently with Tencent’s subscription for US$200 million in Bilibili convertible senior notes due 2031; each transaction is conditional on the other. Disinterested shareholders approved the resolution by the requisite majority. Bilibili expects remaining closing conditions to be satisfied and both transactions to close in early November 2026.

3 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointShareholder approval secured for the agreement with Tencent subsidiaries and its implementation.
• Moderate point. Forward-looking: it has not happened yet and may not happen.US$200 million repurchase covers 13,591,090 Class Z ordinary shares, including American depositary shares. 3.7% of market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Tencent’s US$200 million note subscription would provide funding at closing.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.US$200 million convertible senior notes due 2031 would add debt with potential share dilution. 3.7% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Each transaction is conditional on the other; Bilibili expects remaining conditions satisfied and closing in early November 2026.

Key Figures

Shares to be repurchased: 13,591,090 Class Z ordinary shares Repurchase amount: US$200 million Convertible notes subscription: US$200 million aggregate principal amount +1 more

Shares to be repurchased

13,591,090 Class Z ordinary shares

Repurchase under the approved Tencent agreement

Repurchase amount

US$200 million

Repurchase under the approved agreement

Convertible notes subscription

US$200 million aggregate principal amount

Tencent subscription; notes due 2031, conditional on the repurchase

Expected completion

Early November 2026

Both transactions, subject to remaining closing conditions

Historical Context

1 past event · Latest: Sep 25

1 event

1. Sep 25

   EGM notice

   24h Move

   +0.6%

   Set the shareholder vote on the same Tencent-linked repurchase and notes subscription.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

convertible senior notes, american depositary shares, special resolution

3 terms

convertible senior notes financial

"Tencent’s subscription for US$200 million aggregate principal amount of the Company’s convertible senior notes"

Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.

american depositary shares financial

"including in the form of American depositary shares"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

special resolution regulatory

"the special resolution proposed in the notice for extraordinary general meeting"

A special resolution is a formal shareholder vote that requires a higher-than-normal majority—typically around three-quarters—to approve major corporate changes, such as altering the company’s governing rules, selling the business, or winding it up. It matters to investors because it signals decisive, potentially value-altering actions that cannot be passed by a simple majority; think of it as needing extra votes to change the rules of a club, so minority interests are harder to override.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SHANGHAI, Oct. 28, 2026 (GLOBE NEWSWIRE) -- 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 that the special resolution proposed in the notice for extraordinary general meeting of shareholders (the “EGM”) dated September 25, 2026 was approved by the requisite majority of disinterested shareholders at the EGM held today in Shanghai, China.

The special resolution approves the Company’s subscription and repurchase agreement with subsidiaries of Tencent Holdings Limited (“Tencent”) and the repurchase under that agreement of 13,591,090 Class Z ordinary shares, including in the form of American depositary shares, for US$200 million. It also authorizes the Company’s directors to take the actions and execute the documents necessary to implement the agreement and the repurchase.

The repurchase will close concurrently with Tencent’s subscription for US$200 million aggregate principal amount of the Company’s convertible senior notes due 2031, and each transaction is conditional on the other. Following receipt of the required shareholder approval at the EGM, the Company expects all remaining closing conditions under the agreement to be satisfied and both transactions to be completed in early November 2026.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Statements that are not historical facts, including but not limited to statements about Bilibili’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those included in the Company’s filings with the U.S. Securities and Exchange Commission and The Stock Exchange of Hong Kong Limited. All information provided in this announcement and in the attachments is as of the date of this announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

About Bilibili Inc.

Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with “All the Videos You Like” as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and a frontier for promoting Chinese culture around the world.

For more information, please visit: http://ir.bilibili.com.

For investor and media inquiries, please contact:

In China:

Bilibili Inc.
Juliet Yang
Tel: +86-21-2509-9255 Ext. 8523
Email: ir@bilibili.com

Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
Email: bilibili@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: bilibili@tpg-ir.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What share repurchase did Bilibili shareholders approve?

Bilibili shareholders approved the repurchase of 13,591,090 Class Z ordinary shares, including shares in the form of American depositary shares, for US$200 million under an agreement with Tencent subsidiaries.

When does Bilibili expect the Tencent repurchase and note subscription to close?

Bilibili expects both transactions to close in early November 2026, with all remaining closing conditions expected to be satisfied. The repurchase and Tencent’s subscription for US$200 million in convertible senior notes due 2031 will close concurrently, and each is conditional on the other.