<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SHANGHAI, April 09, 2020 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (BILI), a leading online entertainment platform for young generations in China, today announced that Sony Corporation of America (“SCA”), a wholly owned subsidiary of Sony Corporation (“Sony”) and a global leader providing entertainment services with solid foundation of technology, has entered into a definitive agreement with Bilibili such that SCA will invest an aggregate amount of approximately US$400 million in cash in Bilibili at the closing of the transaction. ” data-reactid=”12″>SHANGHAI, April 09, 2020 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (BILI), a leading online entertainment platform for young generations in China, today announced that Sony Corporation of America (“SCA”), a wholly owned subsidiary of Sony Corporation (“Sony”) and a global leader providing entertainment services with solid foundation of technology, has entered into a definitive agreement with Bilibili such that SCA will invest an aggregate amount of approximately US$400 million in cash in Bilibili at the closing of the transaction.
Pursuant to the share purchase agreement, SCA will subscribe for 17,310,696 newly issued Class Z ordinary shares of Bilibili for an aggregate consideration of approximately US$400 million. The purchase price will be US$23.1071 per Class Z ordinary share, which is equivalent to US$23.1071 per American Depositary Share (“ADS”) of Bilibili, each of which represents one Class Z ordinary share. The transaction is expected to close on or before April 10, 2020, subject to customary closing conditions. Upon the closing, SCA will beneficially own approximately 4.98% of Bilibili’s total issued shares.
In addition, Bilibili and Sony will enter into a business collaboration agreement at the closing to pursue collaboration opportunities within the area of entertainment business in the Chinese market, including anime and mobile games.
Mr. Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili, said, “We are excited to partner with Sony, the world’s leader in entertainment and technology. The strategic investment and business cooperation further align our goals to bring best-in-class content offerings and services to our users, as we increase our domestic stronghold in animation and mobile games. We look forward to joining efforts on a broader scale to fulfill the tremendous and growing entertainment needs in China.”
Bilibili represents the iconic brand of online entertainment with a mission to enrich the everyday life of young generations in China. Bilibili is a full-spectrum online entertainment world covering a wide array of genres and media formats, including videos, live broadcasting and mobile games. Bilibili provides an immersive entertainment experience and high-quality content that caters to the evolving and diversified interests of its users and communities, and has built its platform based on the strong emotional connections of Bilibili’s users to its content and communities.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For more information, please visit: http://ir.bilibili.com.” data-reactid=”18″>For more information, please visit: http://ir.bilibili.com.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About Sony Corporation” data-reactid=”19″>About Sony Corporation
Sony Corporation is a creative entertainment company with a solid foundation of technology. From game and network services to music, pictures, electronics, semiconductors and financial services — Sony’s purpose is to fill the world with emotion through the power of creativity and technology.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For more information, please visit: http://www.sony.net/.” data-reactid=”21″>For more information, please visit: http://www.sony.net/.
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, statements regarding the expected closing of the transaction in this announcement are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to, those included in Bilibili’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Bilibili undertakes no duty to update such information, except as required under applicable law.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For investor and media inquiries, please contact:” data-reactid=”24″>For investor and media inquiries, please contact:
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For Bilibili in China: ” data-reactid=”25″>For Bilibili in China:
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Bilibili Inc. Juliet Yang Tel: +86-21-2509 9255 Ext. 8523 E-mail: ir@bilibili.com” data-reactid=”26″>Bilibili Inc. Juliet Yang Tel: +86-21-2509 9255 Ext. 8523 E-mail: ir@bilibili.com
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For Bilibili in the United States:” data-reactid=”28″>For Bilibili in the United States:
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
