Bilibili Inc. President and Director Yi Xu filed a Form 4 on November 13, 2026, disclosing a share class conversion of 1,305,144 Class Y ordinary shares to Class Z ordinary shares held indirectly through Kami Sama Limited.

Key Highlights

  • Reporting person: Yi Xu, President and Director of Bilibili Inc., filed the statement covering transactions dated November 13, 2026.
  • Transaction type: Code J conversion of 1,305,144 Class Y ordinary shares to 1,305,144 Class Z ordinary shares, executed at a price of $0.
  • Indirect ownership: Both the Class Y and Class Z shares are held indirectly by Kami Sama Limited, a company the filing states is controlled by Yi Xu.
  • Remaining Class Y shares: Following the transaction, Kami Sama Limited beneficially owns 23,162,064 Class Y ordinary shares, according to the filing.
  • Triggering event: The conversion was required by the Hong Kong Listing Rules, following the cancellation of 20,386,630 Class Z ordinary shares repurchased by the issuer.
  • WVR beneficiary: The filing identifies Yi Xu as a weighted voting rights (WVR) beneficiary under the applicable listing rules.

Bilibili Class Share Conversion Tied to Issuer Repurchase Cancellation

According to the Form 4 filed with the U.S. Securities and Exchange Commission, Yi Xu, who serves as both President and Director of Bilibili Inc. (NASDAQ:BILI), reported a share class conversion on November 13, 2026. The transaction involved 1,305,144 Class Y ordinary shares held indirectly through Kami Sama Limited being converted to Class Z ordinary shares on a one-to-one ratio. The filing states that both legs of the transaction were executed at a price of $0.

The filing's explanation of responses states that on November 13, 2026, the issuer cancelled 20,386,630 Class Z ordinary shares that had been repurchased. As a WVR beneficiary, Yi Xu was required under the Hong Kong Listing Rules to convert a corresponding number of Class Y ordinary shares into Class Z ordinary shares. The conversion ratio applied was one-to-one, resulting in 1,305,144 newly classified Class Z ordinary shares held indirectly by Kami Sama Limited. Bilibili also carries a foreign trading symbol of HKEX: 9626, as noted in the filing.

Following the reported transactions, Kami Sama Limited's indirect beneficial ownership stands at 23,162,064 Class Y ordinary shares, with an additional 1,305,144 Class Z ordinary shares, per the filing's post-transaction totals. The Form 4 was filed by one reporting person and signed by Yi Xu on November 13, 2026.

What Was Disclosed

Yi Xu filed a Form 4 reporting a code J conversion of 1,305,144 Class Y to Class Z ordinary shares at $0, held through Kami Sama Limited, triggered by a Hong Kong Listing Rules requirement following the issuer's cancellation of repurchased Class Z shares.