$TENCENT(00700.HK)$BILIBILI-W(09626.HK)
🔄 Tencent’s Bilibili Exit: Capital Recycling in Action
Tencent’s near-total divestment from Bilibili is not about a sudden profit windfall, it is a smart capital discipline.
📉 Actually Not a big gain but small losses 😔
The stake is marked to market, so quarterly profit impact is negligible.
Sale price HK$115.38 was below the June valuation (~HK$131.70), leading to an estimated US$84M–US$98M loss ( just ~1% of one quarter’s net profit, immaterial for Tencent ).
🎯 The real strategy: capital recycling
• Converts minority stake into US$393M net cash to fund AI growth, buybacks and dividends.
• Takes US$200M in convertible notes: downside protection, plus upside if Bilibili tops HK$155.79.
• It is a repositioning and not a split. Tencents is still partner with Bilibili but capital goes where it matters most now.
A masterclass in financial agility: prioritizing liquidity and focus over short-term optics. ✅️
Refer to the infographic for more information ☺️☺️
Not financial advice. Do your own DD ☺️.
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