SCHEDULE: Norges Bank Discloses 5.17% Stake in Bilibili

Norges Bank has reported beneficial ownership of 5.1699% of Bilibili Inc.'s Class Z Ordinary Shares as of March 31, 2026.

Summary

• Norges Bank, the central bank of Norway, has filed a Schedule 13G indicating beneficial ownership of 17,636,289 Class Z Ordinary Shares of Bilibili Inc.
• This stake represents 5.1699% of the class of securities.
• The filing is made under Rule 13d-1(b), classifying Norges Bank as an Investment Adviser and a non-U.S. institution.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.
• Some shares are invested on behalf of the Government of Norway.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of ownership by a major institutional investor and does not contain company-specific performance data or strategic updates.

Positives

• Norges Bank, a significant institutional investor, has taken a notable stake in Bilibili, potentially signaling confidence in the company's long-term prospects.
• The filing indicates that the shares are held in the ordinary course of business, suggesting a passive investment rather than an activist approach.

Negatives

• The filing does not contain any negative financial results or operational challenges for Bilibili.

Risks

• As a large institutional holder, Norges Bank's investment decisions could influence market perception and stock price.
• The filing does not explicitly detail specific risks related to Bilibili's business operations or the broader market.

Future Outlook

The filing does not contain forward-looking statements or guidance from Bilibili Inc. It solely reports Norges Bank's ownership stake.

Management Comments

• "Certain shares reported herein are invested on behalf of the Government of Norway."
• "I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."
• "I also certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to the investment management division of Norges Bank, the central bank of Norway, is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s)."

Industry Context

StockSavvy.ai notes that significant institutional ownership, such as that reported by Norges Bank, often indicates a level of stability and potential long-term investor interest in the online entertainment and gaming sector where Bilibili operates.

Related Party Transactions

• Certain shares reported herein are invested on behalf of the Government of Norway.

Stakeholder Impact

• Shareholders: The increased institutional ownership by a major sovereign wealth fund manager like Norges Bank can be viewed positively, potentially enhancing the company's credibility and stability.
• Government of Norway: As the ultimate beneficiary of some of these investments, the government's portfolio is diversified through this stake in Bilibili.

Next Steps

• Norges Bank will continue to hold its investment in Bilibili Inc. in the ordinary course of business.
• Norges Bank undertakes to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

Key Dates

Keywords

Bilibili, Norges Bank, Schedule 13G, Ordinary Shares, Investment Adviser, Beneficial Ownership, Securities Filing, Norway, ADRs