[SCHEDULE 13G/A] Bilibili Inc. Amended Passive Investment Disclosure
Bilibili: Tencent discloses 4.1% Class Z stake
Bilibili Inc. (BILI) is the subject of an amended Schedule 13G filing in which Tencent Mobility Limited and Tencent Holdings Limited report their current ownership of Bilibili’s Class Z ordinary shares.
Bilibili Inc. (BILI) is the subject of an amended Schedule 13G filing in which Tencent Mobility Limited and Tencent Holdings Limited report their current ownership of Bilibili’s Class Z ordinary shares.
Tencent Mobility Limited reports beneficial ownership of 2,636,751 Class Z Ordinary Shares, representing 0.8% of that class, with sole voting and dispositive power over all such shares. Tencent Holdings Limited reports beneficial ownership of 13,639,108 Class Z Ordinary Shares, representing 4.1% of the class, with sole voting and dispositive power. This stake consists of shares held through Tencent Mobility Limited, Huang River Investment Limited, and China Literature Limited. The ownership percentages are based on 332,010,215 Class Z Ordinary Shares issued and outstanding as of September 9, 2026, after adjusting for issuer repurchases disclosed in prior Bilibili reports.
Positive
None.
Negative
None.
Key Figures
Tencent Mobility Limited beneficial ownership:2,636,751 Class Z Ordinary SharesTencent Mobility Limited ownership percentage:0.8%Tencent Holdings Limited beneficial ownership:13,639,108 Class Z Ordinary Shares+5 more
8 metrics
Tencent Mobility Limited beneficial ownership2,636,751 Class Z Ordinary SharesBeneficially owned with sole voting and dispositive power
Tencent Mobility Limited ownership percentage0.8%Percentage of Bilibili Class Z Ordinary Shares
Tencent Holdings Limited beneficial ownership13,639,108 Class Z Ordinary SharesBeneficially owned through subsidiaries with sole voting and dispositive power
Tencent Holdings Limited ownership percentage4.1%Percentage of Bilibili Class Z Ordinary Shares
Bilibili Class Z shares outstanding332,010,215 Class Z Ordinary SharesIssued and outstanding as of September 9, 2026, basis for ownership percentages
Prior outstanding share count338,805,755 Class Z Ordinary SharesIssued and outstanding as of June 30, 2026 before repurchases
Shares repurchased by Bilibili6,795,540 Class Z Ordinary SharesRepurchased on September 4, 2026 and used in outstanding-share calculation
Shares reserved under incentive plans6,528,345 Class Z Ordinary SharesIssued and reserved for future issuance under share incentive plans, excluded from the 332,010,215 count
Key Terms
beneficially owns, Class Z Ordinary Shares, American Depositary Shares, sole voting power, +2 more
6 terms
beneficially ownsfinancial
"Tencent Holdings Limited beneficially owns (i) 10,954,357 Class Z Ordinary Shares"
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
Class Z Ordinary Sharesfinancial
"Title of class of securities: Class Z Ordinary Shares, par value US$0.0001 per share"
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.
American Depositary Sharesfinancial
"Class Z Ordinary Shares represented by American Depositary Shares, each ADS representing one Class Z Ordinary Share"
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.
sole voting powerfinancial
"Sole Voting Power 13,639,108.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
sole dispositive powerfinancial
"Sole Dispositive Power 13,639,108.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Schedule 13Gregulatory
"previously filed with the U.S. as Exhibit A to Amendment No.3 filed ... Schedule 13G"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What percentage of Bilibili Inc. (BILI) does Tencent Holdings Limited currently report owning?
Tencent Holdings Limited reports beneficial ownership of 4.1% of Bilibili’s Class Z ordinary shares, totaling 13,639,108 shares, with sole voting and dispositive power over these shares through several subsidiaries.
How many Bilibili (BILI) shares does Tencent Mobility Limited beneficially own?
Tencent Mobility Limited beneficially owns 2,636,751 Class Z Ordinary Shares of Bilibili Inc., representing 0.8% of that class, and has sole voting and sole dispositive power over all such shares.
On what share count is Tencent’s ownership percentage in Bilibili (BILI) based?
The ownership percentages are based on 332,010,215 Class Z Ordinary Shares of Bilibili issued and outstanding as of September 9, 2026, after adjusting for shares reserved under incentive plans and shares repurchased by the issuer.
Which Tencent-related entities hold Bilibili (BILI) shares reported in this Schedule 13G/A?
Tencent Holdings Limited’s reported stake includes shares held by Tencent Mobility Limited, Huang River Investment Limited, and China Literature Limited, with American Depositary Shares representing some of the Class Z Ordinary Shares.
Does this Tencent filing indicate ownership of 5 percent or less of Bilibili (BILI)?
Yes. The filing states ownership of 5 percent or less of a class. Tencent Holdings Limited reports 4.1% and Tencent Mobility Limited reports 0.8% of Bilibili’s outstanding Class Z Ordinary Shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Bilibili Inc.
(Name of Issuer)
Class Z Ordinary Shares, par value US$0.0001 per share
(Title of Class of Securities)
G10970112
(CUSIP Number)
090040106
(CUSIP Number)
09/10/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G10970112, 090040106
1
Names of Reporting Persons
Tencent Mobility Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
HONG KONG
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,636,751.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,636,751.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,636,751.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.8 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Note to Row 11: See Item 4 below.
SCHEDULE 13G
CUSIP Number(s):
G10970112, 090040106
1
Names of Reporting Persons
Tencent Holdings Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
13,639,108.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
13,639,108.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,639,108.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.1 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Notes to Rows 5, 7, and 9: Tencent Holdings Limited beneficially owns (i) 10,954,357 Class Z Ordinary Shares held by Huang River Investment Limited, a wholly-owned subsidiary of Tencent Holdings Limited; (ii) 2,636,751 Class Z Ordinary Shares held by Tencent Mobility Limited, a wholly-owned subsidiary of Tencent Holdings Limited; and (iii) 48,000 Class Z Ordinary Shares held by China Literature Limited, a majority-owned subsidiary of Tencent Holdings Limited.
Note to Row 11: See Item 4 below.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Bilibili Inc.
(b)
Address of issuer's principal executive offices:
Building 3, Guozheng Center No. 485 Zhengli Road, Yangpu District Shanghai, 200433, the People's Republic of China
Item 2.
(a)
Name of person filing:
Tencent Mobility Limited
Tencent Holdings Limited
(each a "Reporting Person" and collectively the "Reporting Persons")
(b)
Address or principal business office or, if none, residence:
For both Reporting Persons:
Level 29, Three Pacific Place
No. 1 Queen's Road East
Wanchai, Hong Kong
(c)
Citizenship:
Tencent Mobility Limited: Hong Kong
Tencent Holdings Limited: Cayman Islands
(d)
Title of class of securities:
Class Z Ordinary Shares, par value US$0.0001 per share
(e)
CUSIP No.:
G10970112, 090040106
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person and is incorporated herein by reference.
(b)
Percent of class:
See Row 11 of the cover page of each Reporting Person. The foregoing calculation is based on 332,010,215 Class Z Ordinary Shares issued and outstanding (excluding Class Z Ordinary Shares issued and reserved for future issuance upon the exercise or vesting of awards granted under the issuer's share incentive plans and Class Z Ordinary Shares repurchased by the issuer) as of September 9, 2026, which number is equal to (i) 338,805,755 Class Z Ordinary Shares issued and outstanding (excluding 6,528,345 Class Z Ordinary Shares issued and reserved for future issuance upon the exercise or vesting of awards granted under the issuer's share incentive plans) as of June 30, 2026, as reported on the monthly return with The Stock Exchange of Hong Kong Limited filed as Exhibit 99.1 to the issuer's current report on Form 6-K furnished to the U.S. Securities and Exchange Commission (the "SEC") on July 8, 2026, minus (ii) 6,795,540 Class Z Ordinary Shares repurchased by the issuer on September 4, 2026, as reported on the next day disclosure return filed as Exhibit 99.3 to the issuer's current report on Form 6-K furnished to the SEC on September 8, 2026.
Tencent Holdings Limited may be deemed to beneficially own 13,639,108 Class Z Ordinary Shares, consisting of (i) 2,636,751 Class Z Ordinary Shares held by Tencent Mobility Limited, a wholly-owned subsidiary of Tencent Holdings Limited (consisting of 1,916,941 Class Z Ordinary Shares held directly and 719,810 Class Z Ordinary Shares represented by American Depositary Shares, each ADS representing one Class Z Ordinary Share); (ii) 10,954,357 Class Z Ordinary Shares (represented by American Depositary Shares, each ADS representing one Class Z Ordinary Share) held by Huang River Investment Limited, a wholly-owned subsidiary of Tencent Holdings Limited; and (iii) 48,000 Class Z Ordinary Shares held by China Literature Limited, a majority-owned subsidiary of Tencent Holdings Limited.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c) is set forth in Rows 5-8 of the cover page for each Reporting Person and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
(iii) Sole power to dispose or to direct the disposition of:
(iv) Shared power to dispose or to direct the disposition of:
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Tencent Mobility Ltd
Signature:
/s/ Wang Sze Man
Name/Title:
Name: Wang Sze Man Title: Director
Date:
09/10/2026
Tencent Holdings Ltd
Signature:
/s/ Ma Huateng
Name/Title:
Name: Ma Huateng Title: Director
Date:
09/10/2026
Exhibit Information
Joint Filing Agreement (Incorporated herein by reference to the Joint Filing Agreement by Tencent Mobility Limited and Tencent Holdings Limited dated as of August 14, 2026, which was previously filed with the U.S. Securities and Exchange Commission as Exhibit A to Schedule 13G Amendment No.3 filed by Tencent Mobility Limited and Tencent Holdings Limited on August 14, 2026 with respect to the Class Z ordinary shares of Bilibili Inc.)
