• Bilibili average gross margin for 2023 was 21.68%, a 21.59% increase from 2022.
• Bilibili average gross margin for 2022 was 17.83%, a 21.25% increase from 2021.
• Bilibili average gross margin for 2021 was 22.64%, a 3.43% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.