Bilibili (NASDAQ: BILI) issues new Class Z shares under incentive plans

Rhea-AI Filing Summary

Bilibili Inc. reported small changes in its share capital as Class Z ordinary shares were issued under employee share plans in March 2026. The company issued new WVR Class Z shares through option exercises and restricted share unit (RSU) vesting, including grants under its 2018 Share Incentive Plan and Global Share Incentive Plan.

Class Z shares outstanding (excluding treasury shares) increased from 335,037,602 as of 28 February 2026 to 335,944,265 as of 30 March 2026, while no treasury shares were recorded. One RSU vesting for 6,316 Class Z shares related to a director, with all other issuances to non-director participants.

Key Figures

Opening Class Z issued shares: 335,037,602 shares Closing Class Z issued shares: 335,944,265 shares Largest single option exercise: 445,696 shares at USD 5.638 +3 more

6 metrics

Opening Class Z issued shares 335,037,602 shares Issued Class Z ordinary shares as of 28 February 2026

Closing Class Z issued shares 335,944,265 shares Issued Class Z ordinary shares as of 30 March 2026

Largest single option exercise 445,696 shares at USD 5.638 Class Z shares under 2018 Share Incentive Plan on 11 March 2026

RSU vesting to non-directors 90,000 shares at USD 0 Class Z RSUs vested on 10 March 2026 under 2018 Share Incentive Plan

Director RSU vesting 6,316 shares at USD 0 Class Z RSUs vested on 30 March 2026 under Second Amended and Restated 2018 Plan

Baseline issued shares 414,737,612 shares Total issued shares used for percentage calculations in remarks

Key Terms

WVR ordinary shares, treasury shares, restricted share units, share incentive plan, +2 more

6 terms

WVR ordinary shares financial

"Class of shares WVR ordinary shares Type of shares Other type"

treasury shares financial

"Changes in issued shares (excluding treasury shares) Changes in treasury shares"

Treasury shares are a company’s own stock that it has repurchased and keeps on its books instead of canceling or leaving in the hands of outside investors. Think of them like coupons a business puts back in a drawer: they don’t vote or receive dividends while held, but they can be reissued later for employee pay or fundraising. For investors this matters because buybacks change the number of shares that count toward earnings and ownership, can boost per‑share metrics, and use corporate cash that might otherwise go to growth or dividends.

restricted share units financial

"Issue of Class Z ordinary shares pursuant to vesting of restricted share units granted"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

share incentive plan financial

"pursuant to the 2018 Share Incentive Plan - options"

A share incentive plan is a company program that gives employees or directors the chance to receive or buy company shares, often after staying with the firm or meeting performance goals. It matters to investors because it’s like giving workers a slice of the company pie to boost performance and loyalty, but issuing those slices can reduce each existing owner’s portion and change metrics such as earnings per share and share count.

Next Day Disclosure Return regulatory

"Exhibit 99.1 – Next Day Disclosure Return dated March 31, 2026"

treasury shares on the Exchange financial

"sale of treasury shares on the Exchange or any other stock exchange"

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2026

Commission File Number: 001-38429

Bilibili Inc.

Building 3, Guozheng Center, No. 485 Zhengli Road

Yangpu District, Shanghai, 200433

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒    Form 40-F ☐

Exhibit Index

Exhibit 99.1 – Next Day Disclosure Return dated March 31, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BILIBILI INC.
By:		/s/ Xin Fan
Name:		Xin Fan
Title:		Chief Financial Officer

Date: March 31, 2026

Exhibit 99.1

FF305

Next Day Disclosure Return

(Equity issuer - changes in issued shares or treasury shares, share buybacks and/or on-market sales of treasury shares)

Instrument:		Equity issuer		Status:		New Submission
Name of Issuer:		Bilibili Inc.

Date Submitted:       31 March 2026

Section I must be completed by a listed issuer where there has been a change in its issued shares or treasury shares which is discloseable pursuant to rule 13.25A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Exchange”) (the “Main Board Rules”) or rule 17.27A of the Rules Governing the Listing of Securities on GEM of the Exchange (the “GEM Rules”).

Section I

1. Class of shares

WVR ordinary shares

Type of shares

Other type (specify in description)

Listed on the Exchange

Yes

Stock code (if listed)

09626

Description

Class Z Ordinary Shares

A. Changes in issued shares or treasury shares

Events		Changes in issued shares (excluding treasury shares)				Changes in treasury shares		Issue/ selling price per share (Note 4)		Total number of  issued  shares
		Number of issued  shares (excluding treasury shares)		As a % of existing number of issued shares (excluding  treasury shares) before  the relevant event (Note 3)		Number of treasury  shares
Opening balance as at (Note 1) 28 February 2026		335,037,602				0				335,037,602
1).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes   10 March 2026		154,435		0.0372%				USD     0.0001

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FF305

2).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares pursuant to vesting of restricted share units granted to eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - restricted share units    Date of changes  10 March 2026		90,000		0.0217%				USD          0
3).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the Global Share Incentive Plan - options    Date of changes  11 March 2026		2,500		0.0006%				USD     0.0001
4).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  11 March 2026		445,696		0.1075%				USD      5.638
5).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  12 March 2026		13,679		0.0033%				USD     0.0001
6).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  13 March 2026		8,954		0.0022%				USD     0.0001

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FF305

7).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the Global Share Incentive Plan - options    Date of changes  16 March 2026		1,500		0.0004%				USD     0.0001
8).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes   16 March 2026		34,285		0.0083%				USD     6.1077
9).   Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares pursuant to vesting of restricted share units granted to eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - restricted share units    Date of changes   16 March 2026		1,065		0.0003%				USD     0
10).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes   17 March 2026		7,195		0.0017%				USD     0.0001
11).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes   18 March 2026		10,000		0.0024%				USD     0.0001

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FF305

12).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  19 March 2026		4,200		0.001%				USD     0.0001
13).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  19 March 2026		2,120		0.0005%				USD     0.0001
14).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  20 March 2026		16,121		0.0039%				USD     0.0001
15).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  23 March 2026		33,558		0.0081%				USD     1.8721
16).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  24 March 2026		11,902		0.0029%				USD     0.0001

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17).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  25 March 2026		26,136		0.0063%				USD     0.0001
18).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  26 March 2026		12,963		0.0031%				USD     0.0001
19).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  27 March 2026		5,719		0.0014%				USD     0.0001
20).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the Global Share Incentive Plan - options    Date of changes  30 March 2026		1,000		0.0002%				USD     0.0001
21).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a participant (who is not a director of the issuer) under a share scheme - new shares involved    Issue of Class Z ordinary shares upon exercise of share options by eligible participants (other than the directors of the Company) pursuant to the 2018 Share Incentive Plan - options    Date of changes  30 March 2026		17,319		0.0042%				USD     0.0001

Page 5 of 10

22).  Issue of new shares or transfer of treasury shares in respect of share awards or options granted to a director of the issuer under a share scheme - new shares involved    Issue of Class Z ordinary shares pursuant to vesting of restricted share units granted to a director of the Company under the Second Amended and Restated 2018 Share Incentive Plan - restricted share units    Date of changes   30 March 2026		6,316		0.0015%						USD          0
Closing balance as at (Notes 5 and 6) 30 March 2026		335,944,265					0					335,944,265
B. Shares redeemed or repurchased for cancellation but not yet cancelled as at the closing balance date (Notes 5 and 6)   Not applicable

Remarks:

1) The percentages as stated in the above “changes in issued shares (excluding treasury shares) as a % of existing number of issued shares (excluding treasury Remarks: shares) before the relevant event” column were calculated based on the Company’s total number of issued shares of 414,737,612 shares (comprising 79,700,010 Class Y ordinary shares and 335,037,602 Class Z ordinary shares).

2) The balance of Class Z ordinary shares excludes 9,389,835 Class Z ordinary shares issued and reserved for future issuance upon the exercise or vesting of awards granted under the Company’s share incentive plans.

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FF305

Confirmation

Pursuant to Main Board Rule 13.25C / GEM Rule 17.27C, we hereby confirm to the best knowledge, information and belief that, in relation to each issue of shares or sale or transfer of treasury shares as set out in Section I, it has been duly authorised by the board of directors of the listed issuer and carried out in compliance with all applicable listing rules, laws and other regulatory requirements and, insofar as applicable:

(Note 7)

(i) all money due to the listed issuer in respect of the issue of shares, or sale or transfer of treasury shares has been received by it;

(ii) all pre-conditions for the listing imposed by the Main Board Rules / GEM Rules under “Qualifications of listing” have been fulfilled;

(iii) all (if any) conditions contained in the formal letter granting listing of and permission to deal in the securities have been fulfilled;

(iv) all the securities of each class are in all respects identical (Note 8);

(v) all documents required by the Companies (Winding Up and Miscellaneous Provisions) Ordinance to be filed with the Registrar of Companies have been duly filed and that compliance has been made with all other legal requirements;

(vi) all the definitive documents of title have been delivered/are ready to be delivered/are being prepared and will be delivered in accordance with the terms of issue, sale or transfer;

(vii) completion has taken place of the purchase by the issuer of all property shown in the listing document to have been purchased or agreed to be purchased by it and the purchase consideration for all such property has been duly satisfied; and

(viii) the trust deed/deed poll relating to the debenture, loan stock, notes or bonds has been completed and executed, and particulars thereof, if so required by law, have been filed with the Registrar of Companies.

Notes to Section I:

1. Please insert the closing balance date of the last Next Day Disclosure Return published pursuant to Main Board Rule 13.25A / GEM Rule 17.27A or Monthly Return pursuant to Main Board Rule 13.25B / GEM Rule 17.27B, whichever is the later.

2. Please set out all changes in issued shares or treasury shares requiring disclosure pursuant to Main Board Rule 13.25A / GEM Rule 17.27A together with the relevant dates of changes. Each category will need to be disclosed individually with sufficient information to enable the user to identify the relevant category in the listed issuer’s Monthly Return. For example, multiple issues of shares as a result of multiple exercises of share options under the same share option scheme or of multiple conversions under the same convertible note must be aggregated and disclosed as one category. However, if the issues resulted from exercises of share options under 2 share option schemes or conversions of 2 convertible notes, these must be disclosed as 2 separate categories.

3. The percentage change in the number of issued shares (excluding treasury shares) of the listed issuer is to be calculated by reference to the opening balance of the number of issued shares (excluding treasury shares) being disclosed in this Next Day Disclosure Return.

Page 7 of 10

FF305

4. In the case of a share repurchase or redemption, the “issue/ selling price per share” shall be construed as “repurchase price per share” or “redemption price per share”. Where shares have been issued/ sold/ repurchased/ redeemed at more than one price per share, a volume-weighted average price per share should be given.

5. The closing balance date is the date of the last relevant event being disclosed.

6. For repurchase or redemption of shares, disclosure is required when the relevant event has occurred (subject to the provisions of Main Board Rules 10.06(4)(a), 13.25A and 13.31 / GEM Rules 13.13(1), 17.27A and 17.35), even if the repurchased or redeemed shares have not yet been cancelled.

If repurchased or redeemed shares are to be cancelled upon settlement of such repurchase or redemption after the closing balance date, they shall remain part of the issued shares as at the closing balance date in Part A. Details of these repurchased or redeemed shares shall be disclosed in Part B.

7. Items (i) to (viii) are suggested forms of confirmation. The listed issuer may amend the item(s) that is/are not applicable to meet individual cases.

8. “Identical” means in this context:

• the securities are of the same nominal value with the same amount called up or paid up;

• they are entitled to dividend/interest at the same rate and for the same period, so that at the next ensuing distribution, the dividend/interest payable per unit will amount to exactly the same sum (gross and net); and

• they carry the same rights as to unrestricted transfer, attendance and voting at meetings and rank pari passu in all other respects.

Page 8 of 10

FF305

Section II must also be completed by a listed issuer where it has made a repurchase of shares which is discloseable under Main Board Rule 10.06(4)(a) / GEM Rule 13.13(1).

Repurchase report Not applicable

Page 9 of 10

FF305

Section III must also be completed by a listed issuer where it has made a sale of treasury shares on the Exchange or any other stock exchange on which the issuer is listed which is discloseable under Main Board Rule 10.06B / GEM Rule 13.14B.

Report of on-market sale of treasury shares Not applicable

Submitted by:		Xin Fan
		(Name)
Title:		Joint Company Secretary
		(Director, Secretary or other Duly Authorised Officer)

Page 10 of 10

FAQ

What share capital change did Bilibili (BILI) report for March 2026?

Bilibili reported a modest increase in Class Z ordinary shares. Issued shares excluding treasury rose from 335,037,602 on 28 February 2026 to 335,944,265 on 30 March 2026, reflecting option exercises and RSU vesting under its share incentive plans.

Which Bilibili share class was affected in the March 2026 6-K filing?

The filing concerns Bilibili’s Class Z Ordinary Shares, described as WVR ordinary shares. All reported changes relate to new Class Z shares issued under employee share schemes, with the stock code 09626 for shares listed on the Hong Kong Stock Exchange.

How were new Bilibili (BILI) shares issued under employee plans in March 2026?

New shares were issued mainly through option exercises and RSU vesting. Transactions included multiple exercises under the 2018 Share Incentive Plan and Global Share Incentive Plan, plus RSU vesting events, with issue prices ranging from USD 0 to USD 6.1077 per Class Z share.

Did Bilibili repurchase or sell any treasury shares in this period?

No. The report shows zero treasury shares at both opening and closing balances. Sections on repurchase reports and on-market sales of treasury shares are marked not applicable, indicating no discloseable share buybacks or treasury share sales during the reported period.

Were any Bilibili directors involved in the March 2026 share issuances?

Yes, one transaction involved a director. On 30 March 2026, 6,316 Class Z ordinary shares were issued upon vesting of restricted share units granted to a director under the Second Amended and Restated 2018 Share Incentive Plan; all other issuances were to non-director participants.

What baseline did Bilibili use to calculate issuance percentages in this filing?

Percentages for each issuance were calculated against a total of 414,737,612 issued shares. This baseline comprised 79,700,010 Class Y ordinary shares and 335,037,602 Class Z ordinary shares, as stated in the remarks accompanying the Next Day Disclosure Return.

Filing Exhibits & Attachments

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