Summary by Moomoo AI
Bilibili Limited achieved accelerated revenue growth in the first half of 2024, with a significant increase in gross margin and a significant narrowing of losses. The company raised funds through the issuance of American depositary shares in January 2023, and used them to repurchase convertible preferred bonds. For the six months ended June 30, 2024, the company's net operating income reached RMB 11.79 billion, a year-on-year increase of 14%. The gross profit increased by 47% year-on-year to RMB 3.44 billion. Adjusted net loss narrowed by 64% year-on-year to RMB 726.9 million. The company's total cash and cash equivalents amounted to RMB 13.91 billion, with an operating cash flow of RMB 2.39 billion. The company continues to focus on improving its commercial capabilities and has made significant progress in the first half of the year.
