Bilibili's share capital grows from incentive plans and class conversions

Bilibili Inc. reported a series of increases in its WVR ordinary shares (Class Z) due to exercises of share options by eligible participants under the 2018 Share Incentive Plan. On December 1, 2025, 825 Class Z ordinary shares were issued. Subsequent issuances included 2,813 shares on December 2, 5,825 shares on December 3, 2,490 shares on December 4, 2,000 shares on December 8, 3,600 shares on December 9, and 3,000 shares on December 10. The issue/selling price per share for all these transactions was $0.0001.

Additionally, on December 10, 2025, Bilibili converted 1,000,000 Class Y ordinary shares to Class Z ordinary shares. This conversion resulted in a closing balance of 334,064,389 Class Z ordinary shares as of December 10, 2025. The company's Class Y ordinary shares decreased from 80,700,010 to 79,700,010 during this period.