GUANGZHOU, China, May 16, 2023
/PRNewswire/ -- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a
leading game live streaming platform in China, today announced its unaudited financial
results for the first quarter ended March
31, 2023.
First Quarter 2023 Highlights
- Total net revenues for the first quarter of 2023 were
RMB1,949.2 million (US$283.8 million), compared with RMB2,464.6 million for the same period of
2022.
- Net income attributable to HUYA Inc. was
RMB44.8 million (US$6.5 million) for the first quarter of 2023,
compared with a net loss attributable to HUYA Inc. of RMB3.3 million for the same period of 2022.
- Non-GAAP net income attributable to HUYA
Inc.[1] was RMB85.5
million (US$12.5 million) for
the first quarter of 2023, compared with RMB46.6 million for the same period of 2022.
- Average mobile MAUs[2] of Huya Live
for the first quarter of 2023 was 82.1 million, compared with 81.9
million for the same period of 2022.
- Total number of paying users[3] of Huya
Live for the first quarter of 2023 was 5.2 million, compared
with 5.9 million for the same period of 2022.
"Against the backdrop of the usual low season for live streaming
activities and an increase in users' offline recreational pursuits,
Huya Live's mobile MAU reached 82.1 million in the first quarter of
2023, representing a slight year-over-year increase. Our appealing
e-sports and entertainment program offerings along with our
continued efforts to enhance our products with interactive features
helped us sustain user engagement. We have been closely monitoring
changes in the dynamic market environment and striving to quickly
and flexibly refine our content and operational strategies to
better meet users' needs," said Mr. Rongjie
Dong, Chief Executive Officer of Huya. "As more game titles
have been approved in China in
recent months, we plan to diversify our operational activities and
deepen cooperation with game companies to seize the opportunities
brought by new game launches, further solidifying our position in
the game live streaming market and increasing our presence in the
game value chain."
Ms. Ashley Xin Wu, Vice President
of Finance of Huya, commented, "Our total net revenues for the
first quarter of 2023 were approximately RMB1.9 billion amid the soft macro environment
and seasonal headwinds. Nevertheless, alongside our stepped-up
efforts to optimize costs, particularly content costs, our first
quarter gross margin rebounded sequentially, nearly reaching its
level in the same quarter last year. Meanwhile, we continued to
improve operational efficiency, with total operating expenses in
the first quarter of 2023 decreasing by 26.2% year-over-year. As a
result, we were pleased to achieve a net income of RMB44.8 million for the quarter. Going forward,
we aim to maintain our progress and pursue further gains in cost
optimization and operational efficiency as we strengthen our
financial foundation for the Company's long-term development."
[1]
"Non-GAAP net income attributable to HUYA Inc." is defined as net
income (loss) attributable to HUYA Inc. excluding (i) share-based
compensation expenses, (ii) gain on fair value change of
investments, net of income taxes, (iii) impairment loss of
investments and (iv) loss on equity method investment, net of
income taxes. For more information, please refer to the section
titled "Use of Non-GAAP Financial Measures" and the table captioned
"HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results"
at the end of this press release.
|
[2] Refers to average monthly active
users on mobile apps. Average mobile MAUs for any period is
calculated by dividing (i) the sum of active users on the mobile
apps for each month during such relevant period, by (ii) the number
of months during such relevant period.
|
[3] Refers to the sum of user
accounts that purchased various products and services on our
platform at least once during such relevant period.
|
First Quarter 2023 Financial Results
Total net revenues for the first quarter of 2023 were
RMB1,949.2 million (US$283.8 million), compared with RMB2,464.6 million for the same period of
2022.
Live streaming revenues were RMB1,859.9 million (US$270.8 million) for the first quarter of 2023,
compared with RMB2,151.7 million for
the same period of 2022, primarily due to a decreased number of
paying users on Huya Live, as the macro and regulatory environment
continued to adversely affect the sentiment of the Company's paying
users.
Advertising and other revenues were RMB89.3 million (US$13.0
million) for the first quarter of 2023, compared with
RMB312.8 million for the same period
of 2022, primarily due to a significant decrease in content
sub-licensing revenues, as well as soft demand for advertising
services resulting from the challenging macro environment.
Cost of revenues decreased by 20.6% to RMB1,692.8 million (US$246.5 million) for the first quarter of 2023
from RMB2,131.0 million for the same
period of 2022, primarily due to decreased revenue sharing fees and
content costs, as well as bandwidth costs.
Revenue sharing fees and content costs decreased by 17.6%
to RMB1,490.2 million (US$217.0 million) for the first quarter of 2023
from RMB1,807.5 million for the same
period of 2022, primarily due to the decrease in revenue sharing
fees associated with the decline in live streaming revenues, and
lower costs related to e-sports content as well as content
creators.
Bandwidth costs decreased by 44.4% to RMB93.6 million (US$13.6
million) for the first quarter of 2023 from RMB168.3 million for the same period of 2022,
primarily due to improved bandwidth cost management and continued
technology enhancement efforts, as well as less overseas bandwidth
usage as a result of the strategic adjustment in the Company's
overseas business to focus on key markets.
Gross profit was RMB256.5
million (US$37.3 million) for
the first quarter of 2023, compared with RMB333.6 million for the same period of 2022,
primarily due to lower revenues. Gross margin was 13.2% for
the first quarter of 2023, compared with 13.5% for the same period
of 2022.
Research and development expenses decreased by 22.3% to
RMB152.4 million (US$22.2 million) for the first quarter of 2023
from RMB196.3 million for the same
period of 2022, primarily due to decreased personnel-related
expenses and share-based compensation expenses.
Sales and marketing expenses decreased by 37.1% to
RMB91.2 million (US$13.3 million) for the first quarter of 2023
from RMB145.1 million for the same
period of 2022, primarily due to decreased marketing and promotion
fees, as well as personnel-related expenses.
General and administrative expenses decreased by 16.2% to
RMB67.7 million (US$9.9 million) for the first quarter of 2023
from RMB80.8 million for the same
period of 2022, primarily due to decreased personnel-related
expenses and share-based compensation expenses.
Other income was RMB4.2
million (US$0.6 million) for
the first quarter of 2023, compared with RMB28.3 million for the same period of 2022,
primarily due to lower tax refunds and government subsidies.
Operating loss was RMB50.7
million (US$7.4 million) for
the first quarter of 2023, compared with RMB60.2 million for the same period of 2022.
Interest and short-term investments income were
RMB96.4 million (US$14.0 million) for the first quarter of 2023,
compared with RMB59.2 million for the
same period of 2022, primarily due to increased interest rates.
Net income attributable to HUYA Inc. was RMB44.8 million (US$6.5
million) for the first quarter of 2023, compared with a net
loss attributable to HUYA Inc. of RMB3.3
million for the same period of 2022.
Non-GAAP net income attributable to HUYA Inc., which
excludes share-based compensation expenses, was RMB85.5 million (US$12.5
million) for the first quarter of 2023, compared with
RMB46.6 million for the same period
of 2022, which excludes share-based compensation expenses and gain
on fair value change of investments, net of income taxes.
Basic and diluted net income per American depositary share
("ADS") were each RMB0.18
(US$0.03) for the first quarter of
2023. Basic and diluted net loss per ADS were each RMB0.01 for the first quarter of 2022. Each ADS
represents one Class A ordinary share of the Company.
Non-GAAP basic and diluted net income per ADS were each
RMB0.35 (US$0.05) for the first quarter of 2023. Non-GAAP
basic and diluted net income per ADS were each RMB0.19 for the first quarter of 2022.
As of March 31, 2023, the Company
had cash and cash equivalents, short-term deposits, short-term
investments and long-term deposits of RMB10,347.6 million (US$1,506.7 million), compared with RMB10,749.2 million as of December 31, 2022.
Conference Call
The Company's management will host an earnings conference call
at 8:00 a.m. U.S. Eastern Time on
May 16, 2023 (8:00 p.m. Beijing/Hong
Kong time on May 16,
2023).
For participants who wish to join the call, please complete
online registration using the link provided below 20 minutes prior
to the scheduled call start time. Upon registration, participants
will receive the conference call access information, including
dial-in numbers, a personal PIN and an e-mail with detailed
instructions to join the conference call.
Participant Online Registration:
https://register.vevent.com/register/BIe82fc192cd4a4b74b622d88c3abadcea
Once registration is complete, please dial in at least 10
minutes before the scheduled start time of the earnings call and
enter the personal PIN as instructed to connect to the call.
A live webcast of the earnings call will be accessible at
https://ir.huya.com and a replay of the webcast will be available
following the session.
About HUYA Inc.
HUYA Inc. is a leading game live streaming platform in
China with a large and active game
live streaming community. The Company cooperates with e-sports
event organizers, as well as major game developers and publishers,
and has developed e-sports live streaming as one of the most
popular content genres on its platform. The Company has created an
engaged, interactive and immersive community for game enthusiasts
of China's young generation.
Building on its success in game live streaming, Huya has also
extended its content to other entertainment content genres. Huya's
open platform also functions as a marketplace for broadcasters and
talent agencies to congregate and closely collaborate with the
Company.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is
prepared in conformity with accounting principles generally
accepted in the United States of
America ("U.S. GAAP"), except that the consolidated
statement of changes in shareholders' equity, consolidated
statements of cash flows, and the detailed notes have not been
presented. Huya uses non-GAAP gross profit (loss), non-GAAP
operating loss, non-GAAP net income (loss) attributable to HUYA
Inc., non-GAAP net income (loss) attributable to ordinary
shareholders, non-GAAP basic and diluted net income (loss) per
ordinary shares, and non-GAAP basic and diluted net income (loss)
per ADS, which are non-GAAP financial measures. Non-GAAP gross
profit (loss) is gross profit (loss) excluding share-based
compensation expenses allocated in cost of revenues. Non-GAAP
operating loss is operating loss excluding share-based compensation
expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is
net (loss) income attributable to HUYA Inc. excluding share-based
compensation expenses, gain on fair value change of investments,
net of income taxes, and impairment loss of investments, to the
extent applicable. Non-GAAP net income (loss) attributable to
ordinary shareholders is net (loss) income attributable to ordinary
shareholders excluding share-based compensation expenses, gain on
fair value change of investments, net of income taxes, impairment
loss of investments, and loss on equity method investment, net of
income taxes, to the extent applicable. Non-GAAP basic and diluted
net income (loss) per ADS is non-GAAP net income (loss)
attributable to ordinary shareholders divided by weighted average
number of ADS used in the calculation of non-GAAP basic and diluted
net income (loss) per ADS. The Company believes that separate
analysis and exclusion of the impact of (i) share-based
compensation expenses, (ii) gain on fair value change of
investments, net of income taxes, (iii) impairment loss of
investments, and (iv) loss on equity method investment, net of
income taxes, add clarity to the constituent parts of its
performance. The Company reviews these non-GAAP financial measures
together with GAAP financial measures to obtain a better
understanding of its operating performance. It uses the non-GAAP
financial measures for planning, forecasting and measuring results
against the forecast. The Company believes that non-GAAP financial
measures represent useful supplemental information for investors
and analysts to assess its operating performance without the effect
of (i) share-based compensation expenses, which have been and will
continue to be significant recurring expenses in its business, and
(ii) gain on fair value change of investments, net of income taxes,
(iii) impairment loss of investments, and (iv) loss on equity
method investment, net of income taxes, which may recur when there
is observable price change in the future. However, the use of
non-GAAP financial measures has material limitations as an
analytical tool. One of the limitations of using non-GAAP financial
measures is that they do not include all items that impact the
Company's net (loss) income for the period. In addition, because
non-GAAP financial measures are not measured in the same manner by
all companies, they may not be comparable to other similar titled
measures used by other companies. In light of the foregoing
limitations, you should not consider a non-GAAP financial measure
in isolation from or as an alternative to the financial measures
prepared in accordance with U.S. GAAP.
The presentation of these non-GAAP financial measures is not
intended to be considered in isolation from, or as a substitute
for, the financial information prepared and presented in accordance
with U.S. GAAP. For more information on these non-GAAP financial
measures, please see the table captioned "HUYA Inc. Unaudited
Reconciliations of GAAP and Non-GAAP Results" at the end of this
announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB
to U.S. dollars are made at a rate of RMB6.8676 to US$1.00, the noon buying rate in effect on
March 31, 2023, in the H.10
statistical release of the Federal Reserve Board. The Company makes
no representation that the Renminbi or U.S. dollars amounts
referred to in this announcement could have been or could be
converted into U.S. dollars or Renminbi, as the case may be, at any
particular rate or at all.
Safe Harbor Statement
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" and similar statements. Among other things,
the business outlook and quotations from management in this
announcement, as well as Huya's strategic and operational plans,
contain forward-looking statements. Huya may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission ("SEC"), in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Huya's beliefs and expectations, are
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 the
following: Huya's goals and strategies; Huya's future business
development, results of operations and financial condition; the
expected growth of the game live streaming market; the expectation
regarding the rate at which to gain active users, especially paying
users; Huya's ability to monetize the user base; Huya's efforts in
complying with applicable data privacy and security regulations;
fluctuations in general economic and business conditions in
China; the impact of the COVID-19
to Huya's business operations and the economy in China and elsewhere generally; any regulatory
developments in laws, regulations, rules, policies or guidelines
applicable to Huya; and assumptions underlying or related to any of
the foregoing. Further information regarding these and other risks
is included in Huya's filings with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Huya does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com
HUYA INC.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
As of December
31,
|
|
As of March
31,
|
|
|
2022
|
|
2023
|
|
2023
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
655,241
|
|
1,941,195
|
|
282,660
|
Restricted
cash
|
|
4,050
|
|
16,246
|
|
2,366
|
Short-term
deposits
|
|
9,018,298
|
|
7,829,206
|
|
1,140,021
|
Short-term
investments
|
|
3,117
|
|
-
|
|
-
|
Accounts receivable,
net
|
|
75,898
|
|
71,395
|
|
10,396
|
Amounts due from
related parties, net
|
|
59,702
|
|
76,913
|
|
11,199
|
Prepayments and other
current assets, net
|
|
637,225
|
|
570,130
|
|
83,017
|
|
|
|
|
|
|
|
Total current
assets
|
|
10,453,531
|
|
10,505,085
|
|
1,529,659
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Long-term
deposits
|
|
1,072,548
|
|
577,223
|
|
84,050
|
Investments
|
|
906,215
|
|
986,794
|
|
143,688
|
Property and
equipment, net
|
|
200,893
|
|
221,694
|
|
32,281
|
Intangible assets,
net
|
|
57,810
|
|
52,297
|
|
7,615
|
Right-of-use assets,
net
|
|
345,136
|
|
335,349
|
|
48,831
|
Prepayments and other
non-current assets
|
|
110,874
|
|
94,407
|
|
13,747
|
|
|
|
|
|
|
|
Total non-current
assets
|
|
2,693,476
|
|
2,267,764
|
|
330,212
|
|
|
|
|
|
|
|
Total
assets
|
|
13,147,007
|
|
12,772,849
|
|
1,859,871
|
|
|
|
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
22,517
|
|
29,264
|
|
4,261
|
Advances from
customers and deferred revenue
|
|
445,620
|
|
417,409
|
|
60,779
|
Income taxes
payable
|
|
28,924
|
|
30,110
|
|
4,384
|
Accrued liabilities
and other current liabilities
|
|
1,592,455
|
|
1,278,894
|
|
186,223
|
Amounts due to related
parties
|
|
81,814
|
|
60,754
|
|
8,846
|
Lease liabilities due
within one year
|
|
29,801
|
|
23,006
|
|
3,350
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
2,201,131
|
|
1,839,437
|
|
267,843
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Lease
liabilities
|
|
8,617
|
|
6,849
|
|
997
|
Deferred tax
liabilities
|
|
20,533
|
|
20,533
|
|
2,990
|
Deferred
revenue
|
|
73,354
|
|
69,394
|
|
10,105
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
102,504
|
|
96,776
|
|
14,092
|
|
|
|
|
|
|
|
Total
liabilities
|
|
2,303,635
|
|
1,936,213
|
|
281,935
|
|
|
|
|
|
|
|
HUYA INC.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
As of December
31,
|
|
As of March
31,
|
|
|
2022
|
|
2023
|
|
2023
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Class A ordinary
shares (US$0.0001 par value;
750,000,000 shares authorized as of December
31, 2022
and March 31, 2023, respectively;
89,401,484 and 89,515,937
shares issued and
outstanding as of December 31, 2022 and
March
31, 2023,
respectively)
|
|
60
|
|
60
|
|
9
|
Class B ordinary
shares (US$0.0001 par value;
200,000,000 shares authorized as of December
31, 2022
and March 31, 2023, respectively;
150,386,517 and 150,386,517 shares issued and
outstanding as of December 31, 2022 and
March 31, 2023,
respectively)
|
|
98
|
|
98
|
|
14
|
Additional paid-in
capital
|
|
11,922,820
|
|
11,963,513
|
|
1,742,022
|
Statutory
reserves
|
|
122,429
|
|
122,429
|
|
17,827
|
Accumulated
deficit
|
|
(1,786,800)
|
|
(1,741,972)
|
|
(253,651)
|
Accumulated other
comprehensive income
|
|
584,765
|
|
492,508
|
|
71,715
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
10,843,372
|
|
10,836,636
|
|
1,577,936
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
13,147,007
|
|
12,772,849
|
|
1,859,871
|
HUYA INC.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
Three Months
Ended
|
|
|
March
31,
2022
|
|
December
31,
2022
|
|
March
31,
2023
|
|
March
31,
2023
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
|
|
|
|
|
|
|
|
Live
streaming
|
|
2,151,704
|
|
1,975,155
|
|
1,859,924
|
|
270,826
|
|
Advertising and
others
|
|
312,847
|
|
127,038
|
|
89,318
|
|
13,006
|
|
|
|
|
|
|
|
|
|
|
|
Total net
revenues
|
|
2,464,551
|
|
2,102,193
|
|
1,949,242
|
|
283,832
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues(1)
|
|
(2,130,974)
|
|
(2,386,375)
|
|
(1,692,765)
|
|
(246,486)
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit (loss)
|
|
333,577
|
|
(284,182)
|
|
256,477
|
|
37,346
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses(1)
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
(196,251)
|
|
(143,942)
|
|
(152,443)
|
|
(22,197)
|
|
Sales and marketing
expenses
|
|
(145,065)
|
|
(113,249)
|
|
(91,235)
|
|
(13,285)
|
|
General and
administrative expenses
|
|
(80,774)
|
|
(79,120)
|
|
(67,684)
|
|
(9,856)
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(422,090)
|
|
(336,311)
|
|
(311,362)
|
|
(45,338)
|
|
|
|
|
|
|
|
|
|
|
|
Other income,
net
|
|
28,278
|
|
43,797
|
|
4,176
|
|
608
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss
|
|
(60,235)
|
|
(576,696)
|
|
(50,709)
|
|
(7,384)
|
|
|
|
|
|
|
|
|
|
|
|
Interest and short-term
investments income
|
|
59,202
|
|
101,663
|
|
96,355
|
|
14,030
|
|
Gain on fair value
change of investments
|
|
7,602
|
|
-
|
|
-
|
|
-
|
|
Impairment loss of
investments
|
|
-
|
|
(55,201)
|
|
-
|
|
-
|
|
Foreign currency
exchange (losses)
gains, net
|
|
(64)
|
|
3,831
|
|
463
|
|
67
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss)
before income tax (expenses)
benefits
|
|
6,505
|
|
(526,403)
|
|
46,109
|
|
6,713
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
(expenses) benefits
|
|
(9,401)
|
|
2,418
|
|
(1,281)
|
|
(187)
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) income before
share of loss in equity
method investments, net of income
taxes
|
|
(2,896)
|
|
(523,985)
|
|
44,828
|
|
6,526
|
|
|
|
|
|
|
|
|
|
|
|
Share of loss
in equity method investments, net of
income taxes
|
|
(418)
|
|
(414)
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income
attributable to HUYA Inc.
|
|
(3,314)
|
|
(524,399)
|
|
44,828
|
|
6,526
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss) income attributable to ordinary
shareholders
|
|
(3,314)
|
|
(524,399)
|
|
44,828
|
|
6,526
|
|
HUYA INC.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
Three Months
Ended
|
|
|
March
31,
2022
|
|
December
31,
2022
|
|
March
31,
2023
|
|
March
31,
2023
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
Net (loss) income
per ADS*
|
|
|
|
|
|
|
|
|
—Basic
|
|
(0.01)
|
|
(2.16)
|
|
0.18
|
|
0.03
|
—Diluted
|
|
(0.01)
|
|
(2.16)
|
|
0.18
|
|
0.03
|
Net (loss)
income per ordinary share
|
|
|
|
|
|
|
|
|
—Basic
|
|
(0.01)
|
|
(2.16)
|
|
0.18
|
|
0.03
|
—Diluted
|
|
(0.01)
|
|
(2.16)
|
|
0.18
|
|
0.03
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating net (loss) income per
ADS
|
|
|
|
|
|
|
|
|
—Basic
|
|
239,746,395
|
|
242,506,902
|
|
242,786,352
|
|
242,786,352
|
—Diluted
|
|
239,746,395
|
|
242,506,902
|
|
246,437,853
|
|
246,437,853
|
|
* Each ADS represents
one Class A ordinary share.
|
(1) Share-based
compensation was allocated in cost of revenues and operating
expenses as follows:
|
|
|
|
Three Months
Ended
|
|
|
March
31,
2022
|
|
December
31,
2022
|
|
March
31,
2023
|
|
March
31,
2023
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
13,112
|
|
6,122
|
|
8,264
|
|
1,203
|
Research and
development expenses
|
|
23,251
|
|
14,427
|
|
19,940
|
|
2,903
|
Sales and marketing
expenses
|
|
1,644
|
|
1,077
|
|
1,227
|
|
179
|
General and
administrative expenses
|
|
18,746
|
|
7,200
|
|
11,262
|
|
1,640
|
HUYA INC.
|
UNAUDITED RECONCILIATIONS OF GAAP AND
NON-GAAP RESULTS
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
Three Months
Ended
|
|
|
March
31,
2022
|
|
December
31,
2022
|
|
March
31,
2023
|
|
March
31,
2023
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
Gross profit
(loss)
|
|
333,577
|
|
(284,182)
|
|
256,477
|
|
37,346
|
Share-based
compensation expenses allocated in
cost of revenues
|
|
13,112
|
|
6,122
|
|
8,264
|
|
1,203
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross
profit (loss)
|
|
346,689
|
|
(278,060)
|
|
264,741
|
|
38,549
|
|
|
|
|
|
|
|
|
|
Operating loss
|
|
(60,235)
|
|
(576,696)
|
|
(50,709)
|
|
(7,384)
|
Share-based
compensation expenses
|
|
56,753
|
|
28,826
|
|
40,693
|
|
5,925
|
|
|
|
|
|
|
|
|
|
Non-GAAP
operating loss
|
|
(3,482)
|
|
(547,870)
|
|
(10,016)
|
|
(1,459)
|
|
|
|
|
|
|
|
|
|
Net (loss) income
attributable to HUYA Inc.
|
|
(3,314)
|
|
(524,399)
|
|
44,828
|
|
6,526
|
Gain on fair value
change of investments, net of
income taxes
|
|
(6,842)
|
|
-
|
|
-
|
|
-
|
Impairment loss of
investments
|
|
-
|
|
55,201
|
|
-
|
|
-
|
Loss on equity method
investment, net of income
taxes
|
|
-
|
|
414
|
|
-
|
|
-
|
Share-based
compensation expenses
|
|
56,753
|
|
28,826
|
|
40,693
|
|
5,925
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) attributable to
HUYA Inc.
|
|
46,597
|
|
(439,958)
|
|
85,521
|
|
12,451
|
|
|
|
|
|
|
|
|
|
Net (loss) income attributable to ordinary
shareholders
|
|
(3,314)
|
|
(524,399)
|
|
44,828
|
|
6,526
|
Gain on fair value
change of investments, net of
income taxes
|
|
(6,842)
|
|
-
|
|
-
|
|
-
|
Impairment loss of
investments
|
|
-
|
|
55,201
|
|
-
|
|
-
|
Loss on equity method
investment, net of income
taxes
|
|
-
|
|
414
|
|
-
|
|
-
|
Share-based
compensation expenses
|
|
56,753
|
|
28,826
|
|
40,693
|
|
5,925
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) attributable to
ordinary shareholders
|
|
46,597
|
|
(439,958)
|
|
85,521
|
|
12,451
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) per ordinary share
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.19
|
|
(1.81)
|
|
0.35
|
|
0.05
|
—Diluted
|
|
0.19
|
|
(1.81)
|
|
0.35
|
|
0.05
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss) per ADS
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.19
|
|
(1.81)
|
|
0.35
|
|
0.05
|
—Diluted
|
|
0.19
|
|
(1.81)
|
|
0.35
|
|
0.05
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating Non-GAAP net income (loss) per
ADS
|
|
|
|
|
|
|
|
|
—Basic
|
|
239,746,395
|
|
242,506,902
|
|
242,786,352
|
|
242,786,352
|
—Diluted
|
|
241,014,680
|
|
242,506,902
|
|
246,437,853
|
|
246,437,853
|
View original
content:https://www.prnewswire.com/news-releases/huya-inc-reports-first-quarter-2023-unaudited-financial-results-301825559.html
SOURCE HUYA Inc.