[144] Bilibili Inc. SEC Filing

Rhea-AI Filing Summary

Bilibili Inc. (symbol: BLBLF) submitted a Rule 144 notice disclosing a proposed sale of 20,000 common shares to be executed through Merrill Lynch on 09/12/2025 with an aggregate market value reported as $510,791.84. The shares were acquired by the seller on 06/29/2020 in a purchase from Bilibili Inc. The filing also reports that the same account sold 60,000 common shares on 09/10/2025 for gross proceeds of $1,480,190.70. Total outstanding shares are listed as 416,553,785. The filing lacks identifying filer CIK/contact details in the provided excerpt, but includes the standard certification that the seller does not possess undisclosed material information.

Positive

• Disclosure compliance: The filing provides required Rule 144 details including broker, number of shares, acquisition date, and recent sales.
• Recent transaction transparency: Reports both the proposed sale and a prior sale with gross proceeds, aiding market transparency.

Negative

• Missing filer identity in excerpt: The provided content does not show the filer CIK or contact information, limiting verifiability.
• Insider selling activity: The account sold 60,000 shares on 09/10/2025 and proposes another 20,000-share sale, which could merit attention despite being small versus outstanding shares.

Insights

Securities Analyst

TL;DR: Routine insider sale disclosure; size is small relative to shares outstanding and appears procedural.

The Form 144 shows a proposed sale of 20,000 common shares and a recent sale of 60,000 shares. Relative to the 416,553,785 shares outstanding, the disclosed transactions are immaterial from a capital structure perspective. The filing fulfills Rule 144 notice requirements by identifying broker, share count, acquisition date, and recent dispositions. There is no earnings or operating data in this filing to assess business performance; the material content is limited to transactional disclosure.

Compliance/Risk Analyst

TL;DR: Filing meets disclosure form content but is missing explicit filer identification in the provided excerpt.

The document includes necessary sale details, broker information, and the seller's attestation about material nonpublic information, which aligns with compliance norms for Rule 144 notices. However, the excerpt does not show a filer CIK or contact details, which are normally included elsewhere in the full submission; absence in this excerpt limits verifiability. From a governance perspective, the recent sale activity should be monitored for patterns but this single filing does not by itself indicate noncompliance.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
common	Merrill Lynch 10400 NE 4th Street Suite 2500 Bellevue WA 98033	20000	510791.84	416553785	09/12/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
common	06/29/2020	purchase	Bilibili Inc			20000	06/29/2020	purchase

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
JP Gan Unit2502, Bank of America Tower 12 Harcourt Road Central K3 999077	common	09/10/2025	60000	1480190.70

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Bilibili (BLBLF) disclose in this Form 144?

The notice discloses a proposed sale of 20,000 common shares through Merrill Lynch on 09/12/2025, acquired on 06/29/2020, and a prior sale of 60,000 shares on 09/10/2025 for $1,480,190.70.

Who is the broker handling the proposed sale for BLBLF?

The broker listed is Merrill Lynch with an address at 10400 NE 4th Street Suite 2500, Bellevue, WA, as shown in the filing excerpt.

How large is the proposed sale relative to Bilibili's outstanding shares?

The proposed 20,000-share sale is small relative to the reported 416,553,785 shares outstanding.

Does the filing indicate the seller has material nonpublic information?

By signing the Form 144, the seller represents they do not know any material adverse information about the issuer that has not been publicly disclosed.

When were the shares being sold originally acquired?

The shares to be sold were acquired on 06/29/2020 in a purchase listed as from Bilibili Inc.