IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
Minieye Tec 02431.HK	Application Software	17-20.2	200	4,081	2024/12/20	Data is not available	2024/12/27
Xunfei Healthcare 02506.HK	Application Software	82.8	50	N/A	2024/12/23	2024/12/27	2024/12/30
InnoScience 02577.HK	Semiconductors & Semiconductor Equipment	30.86-33.66	100	3,400	2024/12/23	2024/12/27	2024/12/30
HealthyWay 02587.HK	Health Care Services	7.8-8.8	500	4,444	2024/12/23	2024/12/27	2024/12/30

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

Minieye Tec
02431.HK

Application Software

17-20.2

200

4,081

2024/12/20

Data is not available

2024/12/27

Xunfei Healthcare
02506.HK

Application Software

82.8

N/A

2024/12/23

2024/12/27

2024/12/30

InnoScience
02577.HK

Semiconductors & Semiconductor Equipment

30.86-33.66

100

3,400

2024/12/23

2024/12/27

2024/12/30

HealthyWay
02587.HK

Health Care Services

7.8-8.8

500

4,444

2024/12/23

2024/12/27

2024/12/30

Summary

We are an iconic brand and a leading video community for young generations in China. Over 86% of the Company's MAU were aged 35 and below in 2020, which is the highest among the major video-centric platforms in China, according to the iResearch report. Video is an intuitive, vivid and informative way to connect people with the world and has become a dominant medium for communication, entertainment and information. We refer to the trend of video integrating into the scenarios of everyday life as “videolization”, which is creating a massive video-based industry in China with approximately 1,180.2 million video users and over RMB1.8 trillion in revenue by 2025, according to the iResearch Report. As a go-to video community for young generations in China, we believe we are well positioned to capture the attractive opportunities created by videolization. We are a full-spectrum video community that offers a wide array of content serving young generations' diverse interests. We provide users with “All the Videos You Like” as our brand proposition. We have built our community around aspiring users, high-quality content, talented content creators and the strong emotional bond among them. In our community, users and content creators discover and interact with diverse content encompassing different interests, from lifestyle, game, entertainment, anime, technology and knowledge to many more. We also enable broad video-based content consumption scenarios centered around professional user generated videos, or PUGV, supplemented with live broadcasting, occupationally generated videos, or OGV, and more. We have become the welcoming home of diverse cultures and interests and the destination to discover cultural trends and phenomena of young generations in China. We adopt a user-centric commercialization model. We are a full-spectrum video community, and our ever-growing content ecosystem continues to satisfy our engaged and loyal users' evolving needs, providing us with multiple lever for user-centric commercialization. We generate revenues primarily from mobile games, VAS, advertising, e-commerce and others. Our cost of revenues consists of revenue-sharing costs, content costs, server and bandwidth costs and e-commerce and other costs. We have a large and fast-growing user base. In the fourth quarter of 2020, we had an average of 202.0 million MAU, an increase of 55% over the same period in 2019. The mobile MAU of our Bilibili mobile app grew by 49% from 2019 to 2020, which makes us No.1 in terms of mobile MAU growth in 2020 among top 10 video-centric mobile apps in China, higher than the 11.9% growth on average of the rest 9 players during the same period, according to the iResearch Report. Our users are young and culturally aspiring. They are looking for and are willing to pay for high-quality content and engaging experiences. With our vibrant community and high-quality content, the individuals in China born from 1985 to 2009, i.e. Generation Z+, or Gen Z+, constitute the core of our user base. According to the iResearch Report, over 86% of our MAU were aged 35 and below in 2020. According to the iResearch Report, we ranked No. 1 in terms of the proportion of users aged 35 and below among top 10 video- centric mobile apps in China in 2020. With the total population exceeding 452.5 million in 2020, Gen Z+ are the driving force and trend-setter of all kinds of consumptions in China. They are leading the way in videolization and contributed to 64.8% of the video-based market in terms of revenue in 2019, according to the iResearch Report. See “Industry—Generation Z+ in China's Video-Based Industry— Golden Cohort In a Golden Industry.” Cultivating an engaging community where every user feels a sense of belonging has always been our top priority. Our community is comprised of a great number of interest-based sub-communities with passionate users bonding with each other over shared interests. We have thoughtfully designed various interactive features and pioneered a signature commenting function called “bullet chatting” to foster engagement. The average daily time spent per active user on our mobile app remained above 80 minutes in 2020, among the highest in mobile apps in China, and is higher than industry average of 29.8 minutes in 2020, according to iResearch. During the same period, our users generated 5.1 billion average monthly interactions on our platform, as compared to 2.1 billion in 2019. We also designed a unique official membership examination system to ensure strong interests and affinity to enhance user loyalty. As of December 31, 2020, we had approximately 102.6 million official members, representing a 51.1% increase year-over-year. For official members who visited our platform in each month since 2018, our 12th-month retention rate remained above 80%. We believe that our community, together with over a decade of experience in building it, forms one of our strongest competitive advantages. We have built an ever-growing content ecosystem fueling creative video-based content centered around PUGV, which contributed to 91% of the total video views on our platform in the fourth quarter of 2020. Our PUGV are known as high quality and fulfilling. The quality and usefulness of our PUGV creates strong content mindshare among our users. We have developed a robust mechanism that attracts content creators through an encouraging community culture, effective traffic allocation and comprehensive creator support. We cultivate an encouraging community culture that rewards talented content creators and high-quality content. Our algorithms promote and enable high- quality content to quickly gain attention and enable content creators to effectively build their fan base and increase their influence. We have also taken a number of initiatives to encourage and facilitate production of creative PUGV by content creators, including various incentive mechanisms such as customized premium services, cash incentive program, online and offline tutorials to realize their commercialization potential. This healthy mechanism respects, motivates and rewards talented content creators and high-quality content and drives the virtuous cycle of our ecosystem. The more talented content creators gather on our platform, the more inspiring content is created, leading to more users, more engagement, and more followers and feedback for our content creators, which in turn encourages more content creators to join. In the fourth quarter of 2020, we had 1.9 million average monthly active content creators and received 5.9 million average monthly video submissions, compared to 1.0 million and 2.8 million, respectively, in the fourth quarter of 2019. Source: Bilibili-SW (09626) Prospectus (IPO Date : 2021/03/18)
Listing Market	MAIN
Industry	e-Commerce & Internet Services
Background	Others
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Rui Chen (Total share: 11.84%) [00700] Tencent Holdings Limited (Total share: 8.95%); (Class Z share: 11.20%) Yi Xu (Total share: 6.58%); (Class Z share: 0.06%)
Directors	Yi Xu (Founder and President and Executive Director) Rui Chen (Chairman and Chief Executive Officer and Executive Director) Ni Li (Vice Chairlady and Chief Operating Officer and Executive Director) Eric He (Independent Non-Executive Director) Feng Li (Independent Non-Executive Director) Guoqi Ding (Independent Non-Executive Director) JP Gan (Independent Non-Executive Director)
Company Secretary	Chau Hing Ling Anita Xin Fan
Principal Bankers	China Merchants Bank
Solicitors
Auditors	PricewaterhouseCoopers
Registered Office	Suite 603, 6th Floor, Laws Commercial Plaza 788 Cheung Sha Wan Road Kowloon Hong Kong
Share Registrars	Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No	(852) 2862-8628
Internet Address	http://ir.bilibili.com/
Email Address	ir@bilibili.com
Tel No	(86 21) 2509-9255
Fax No

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