Bilibili, a leading online entertainment platform for young generations in China, has signed a definitive agreement to acquire a majority stake in Chaodian, through the injection of capital and the acquisition of equity interests from non-affiliated existing shareholders. Chaodian runs various off-line events including its flagship concert and exhibition Bilibili Macro Link and Bilibili World. It also operates an industry-related talent agency representing hundreds of artists and entertainment professionals, many of which are Bilibili’s top content creators. “Our alignment with Chaodian broadens our reach beyond our core online platform and progresses our commercialization efforts. We see clear synergies between our two entities, including the ability to capitalize on Chaodian’s expertise in offline events planning, and talent acquisition and management. Through this partnership, we are better positioned to grow our brand across various high-profile offline events, while enhancing our PUGC commercialization capabilities through closer bonds with Bilibili’s key content creators, strengthening the virtuous cycle of entertainment.” Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili.