Bilibili CEO converts 2.56M Class Y shares

Available on EDGAR 11/13/2026 - 08:46 AM EST Accepted by SEC EDGAR 11/13/2026 - 08:46 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Bilibili Inc. (BILI) reported that on November 13, 2026, Chairman of the Board and CEO Rui Chen, as a WVR beneficiary, converted 2,562,193 Class Y ordinary shares held by Vanship Limited, a company he controls, into the same number of Class Z ordinary shares on a one-to-one ratio, as required by the Hong Kong Listing Rules. Afterward, Vanship held 45,470,609 Class Y ordinary shares and 2,562,193 Class Z ordinary shares. The company also cancelled 20,386,630 Class Z ordinary shares repurchased by the issuer.

Insider Trade Summary

Other: 5,124,386 shares

Other 2 txns

Insider Chen Rui

Role Chairman of the Board and CEO

Type	Security	Shares	Price	Value
Other	Class Y ordinary shares F1	2,562,193	$0.00	$0.00
Other	Class Z ordinary shares F1	2,562,193	$0.00	$0.00

Holdings After Transaction: Class Y ordinary shares — 45,470,609 shares (Indirect, By Vanship Limited); Class Z ordinary shares — 2,562,193 shares (Indirect, By Vanship Limited)

Footnotes (1)

1. F1. On November 13, 2026, 20,386,630 Class Z ordinary shares repurchased by the issuer were cancelled, and Mr. Rui Chen, as a WVR beneficiary, converted a total of 2,562,193 Class Y ordinary shares held by Vanship Limited, a company controlled by Mr. Rui Chen, to Class Z ordinary shares on a one-to-one ratio as required by the Hong Kong Listing Rules.

Key Figures

Class Y shares converted: 2,562,193 shares Class Z shares acquired in conversion: 2,562,193 shares Vanship Class Y holdings after transaction: 45,470,609 shares +2 more

5 metrics

Class Y shares converted 2,562,193 shares Converted into Class Z ordinary shares on November 13, 2026

Class Z shares acquired in conversion 2,562,193 shares One-to-one conversion on November 13, 2026

Vanship Class Y holdings after transaction 45,470,609 shares Following the November 13, 2026 transaction

Vanship Class Z holdings after transaction 2,562,193 shares Following the November 13, 2026 transaction

Class Z shares cancelled 20,386,630 shares Shares repurchased by the issuer and cancelled on November 13, 2026

Key Terms

WVR beneficiary, Hong Kong Listing Rules, Class Y ordinary shares, Class Z ordinary shares

4 terms

WVR beneficiary regulatory

"as a WVR beneficiary"

Hong Kong Listing Rules regulatory

"as required by the Hong Kong Listing Rules"

A set of official requirements and procedures companies must follow to list and trade shares on the Hong Kong stock exchange. Think of it as a rulebook and checklist that determines who can join the market, what financial and governance information they must disclose, and what ongoing duties they have; these rules matter to investors because they shape how much transparency, oversight and legal protection shareholders can expect, which affects risk and valuation.

Class Y ordinary shares technical

"Class Y ordinary shares held by Vanship Limited"

Class Z ordinary shares technical

"into Class Z ordinary shares on a one-to-one ratio"

Class Z ordinary shares are a labeled category of common stock whose specific rights—such as voting power, dividend claims, transfer rules or conversion features—are set by the issuing company’s governing documents. For investors, the label alone doesn’t guarantee particular privileges: the exact economic and control effects depend on the company’s rules, so understanding those terms is like checking which keys on a key ring open which doors before deciding which key to buy.

FAQ

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

How many BILI Class Y shares were converted into Class Z shares?

On November 13, 2026, 2,562,193 Class Y ordinary shares held by Vanship Limited were converted into 2,562,193 Class Z ordinary shares on a one-to-one ratio, as required by the Hong Kong Listing Rules.

How many BILI Class Z ordinary shares were cancelled?

Bilibili cancelled 20,386,630 Class Z ordinary shares repurchased by the issuer on November 13, 2026.

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

Form 4 Insider Transactions: What Each Field Means →

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Chen Rui

(Last) (First) (Middle)

C/O BILIBILI INC., BLDG. 3 GUOZHENG CNTR

NO. 485 ZHENGLI ROAD, YANGPU DISTRICT

(Street)

SHANGHAI 200433

(City) (State) (Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Bilibili Inc. [ BILI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman of the Board and CEO

2a. Foreign Trading Symbol
[HKEX: 9626]

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class Y ordinary shares	11/13/2026		J		2,562,193(1)	D	$0	45,470,609	I	By Vanship Limited
Class Z ordinary shares	11/13/2026		J		2,562,193(1)	A	$0	2,562,193	I	By Vanship Limited

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On November 13, 2026, 20,386,630 Class Z ordinary shares repurchased by the issuer were cancelled, and Mr. Rui Chen, as a WVR beneficiary, converted a total of 2,562,193 Class Y ordinary shares held by Vanship Limited, a company controlled by Mr. Rui Chen, to Class Z ordinary shares on a one-to-one ratio as required by the Hong Kong Listing Rules.

	/s/ Rui Chen	11/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)