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Bilibili | UPLOAD: Others

SEC announcement ·  Jan 13 03:42
Summary by Futu AI
On January 12, 2024, Bilibili Inc. received a letter from the United States Securities and Exchange Commission (SEC) regarding its Form 20-F filing for the fiscal year ended December 31, 2022, which was filed on April 27, 2023. The SEC reviewed Bilibili's response to a previous comment letter dated December 7, 2023, and provided additional comments. The SEC's letter included a request for Bilibili to revise a risk factor related to the company's consolidated holdings in investment securities and the potential classification as an 'investment company' under the Investment Company Act of 1940. The SEC also disagreed with Bilibili's valuation of its Variable Interest Entities (VIEs) and referenced rescinded Accounting Series Releases, advising the company to value the VIEs consistent with the Act. Bilibili has been asked to respond to the SEC's comments within ten business days or to provide a timeline for their response.
On January 12, 2024, Bilibili Inc. received a letter from the United States Securities and Exchange Commission (SEC) regarding its Form 20-F filing for the fiscal year ended December 31, 2022, which was filed on April 27, 2023. The SEC reviewed Bilibili's response to a previous comment letter dated December 7, 2023, and provided additional comments. The SEC's letter included a request for Bilibili to revise a risk factor related to the company's consolidated holdings in investment securities and the potential classification as an 'investment company' under the Investment Company Act of 1940. The SEC also disagreed with Bilibili's valuation of its Variable Interest Entities (VIEs) and referenced rescinded Accounting Series Releases, advising the company to value the VIEs consistent with the Act. Bilibili has been asked to respond to the SEC's comments within ten business days or to provide a timeline for their response.
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