M N 21 Mar 2024 CMB International Global Markets | Equity Research | Company Update Huya (HUYA US) Margin improvement to continue Target Price US$6.80 Huya delivered upbeat 4Q23 results, with revenue 2% above consensus and adj. (Previous TP US$6.80) NPM at -12.4% (vs. consensus of -13.9%). Looking into FY24E, we suggest to focus Up/Downside +54.5% on its margin improvement and game monetization from more titles cooperation. We Current Price US$4.40 forecast stable topline YoY in FY24E, with advertising & ot ...

HUYA Inc. (NYSE:HUYA) Q4 2023 Earnings Conference Call March 19, 2024 8:00 AM ET Company Participants Hanyu Liu - Investor Relations Ashley Wu - Acting Co-Chief Executive Officer and Vice President of Finance Junhong Huang - Director, Acting Co-Chief Executive Officer and Senior Vice President Conference Call Participants Lei Zhang - Bank of America Securities Yiwen Zhang - China Renaissance Ritchie Sun - HSBC Thomas Chong - Jefferies Hanyu Liu Good day and good evening and thank you for standing by. Welcom ...

Exhibit 99.1 HUYA Inc. Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results and Announces Special Cash Dividend GUANGZHOU, China, March 19, 2024 /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 fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Highlights • Total net revenues for the fourth quarter of 2023 were RMB1,529.8 million (US$215.5 mill ...

HUYA Inc. Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results and Announces Special Cash Dividend - Mar 19, 2024 Search Search Search Search Investor Relations Home Corporate Information Company Profile Management Board of Directors Corporate Governance Stock Information Stock Quote & Chart Historical Stock Price Investment Calculator News & Events News Releases Event Calendar Webcasts Shareholder Meetings Financial Information SEC Filings Quarterly Results Annual Reports Analyst Coverag ...

GUANGZHOU, China, March 19, 2024 /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 fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Highlights[1] Total net revenues for the fourth quarter of 2023 were RMB1,529.8 million (US$215.5 million), compared with RMB2,119.4 million for the same period of 2022. Net loss attributable to HUYA Inc. was RMB275.0 million (US$3 ...

-Earnings Webinar Scheduled for 8:00 a.m. ET on March 19, 2024- GUANGZHOU, China, Feb. 27, 2024 /PRNewswire/ -- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a leading game live streaming platform in China, today announced that it will report its fourth quarter and fiscal year 2023 unaudited financial results on Tuesday, March 19, 2024, before the open of U.S. markets. The Company's management will host a Tencent Meeting Webinar at 8:00 a.m. U.S. Eastern Time on March 19, 2024 (8:00 p.m. Beijing/Hong Ko ...

在中国，短视频领域最能赚钱的播主，是做直播带货的，动辄上亿的交易量令人心惊。 在欧美，赚钱能力最高的，带的「货」是游戏——YouTube 吸金能力排行榜，前几名常年被游戏播主占领。或者，可以说，游戏直播在欧美，热度和中国的主播带货可以相提并论。 在美国，一家名为 Twitch 的游戏直播平台，最高时候曾经拿下游戏直播市场 70% 的份额，让 YouTube 和 Meta 相形见绌，徒呼奈何。 三年疫情期间，Twitch 用户使用量暴增 45%，年度营收增长至 28 亿美元峰值——在成军十周年之后，Twitch 终于迎来了自己的巅峰。 而在 2023 年，Twitch 无论在用户时长还是用户数上，都开始下降。 Twitch 2023 年两项关键数据均下降 6.8%｜图源：streamscharts 数据之外，Twitch 的衰落也显而易见，在去年的冬天，Twitch 的首席产品官、首席客户官、首席内容官、首席营收官接连离职；联合创始人 Emmett Shear 在 6 月宣布辞去 CEO 的职位；去年 12 月，在电竞行业最发达的国家之一——韩国，Twitch 驻韩部门直接宣布将在今年 2 月 27 日关闭； ...

2月4日，虎牙直播上线了全新的 V12.0 版本，这次版本迭代无论从UI、APP架构还是内容设置方面，都有“大刀阔斧”的变化。据虎牙介绍，这次版本更新主要有提升直播间体验、升级赛事体系、新增社区内容与游戏服务等，以满足用户对于直播内容专业性以及趣味性的需求。 赛事体系升级、新增电竞百科，社区内容更“硬核” 打开虎牙APP，飓风丝带旋转到中心跃出的虎牙LOGO让用户一眼就能感觉到速度与活力。“竞技由我，玩在虎牙”的Slogan简洁明了地表达新版本的重点。游戏与电竞，既是年轻用户感兴趣的，也是虎牙擅长的。 对于游戏用户来说，方便快捷找到最全、最新的赛事内容、游戏攻略、福利道具等等是很重要的体验。从虎牙V12.0版本来看，APP架构设计充分考虑到了这一点。APP首页的底部导航栏从“首页－娱乐－订阅－虎扯－我的”变为“首页－社区－赛事－福利－我的”，用户可以从一级目录轻松快速找到游戏相关内容。 在赛事内容方面，虎牙也进行了升级迭代。“赛事”作为独立导航页面，对赛事类别进行了扩容，聚集了各类专业游戏赛事，强化了传统电竞和体育赛事的实况战报。英雄联盟、王者荣耀、和平精英、UFC、斯诺克、X GAMES… ...

Financial Data and Key Metrics Changes - Total net revenues for Q3 2023 were RMB 1.65 billion, down from RMB 2.38 billion in the same period last year, reflecting a challenging market environment [20] - Non-GAAP net income reached RMB 103 million, slightly down from RMB 106 million year-over-year, with a non-GAAP net income margin of 6.3% [24] - Gross margin remained resilient at 13.9%, with gross profit of RMB 228 million [19][22] Business Line Data and Key Metrics Changes - Live streaming revenues were RMB 1.53 billion for Q3, down from RMB 2.02 billion year-over-year, primarily due to a decrease in quarterly paying users from 5.5 million to 4.2 million [20] - Advertising and other revenues decreased to RMB 116 million from RMB 361 million year-over-year, mainly due to a significant drop in content licensing revenues [21] - The number of quarterly paying users decreased, attributed to a soft industry environment and increased offline entertainment activities [20] Market Data and Key Metrics Changes - Huya's live mobile MAUs increased to 86 million, up 3.7% from the previous quarter, but flat year-over-year [15] - The company broadcasted about 80 third-party professional e-sports channels, achieving a total viewership of approximately 480 million [16] - The Asian Games e-sports events attracted significant attention, with peak concurrent users ranking among the top five tournaments in Q3 [18][41] Company Strategy and Development Direction - The company is focusing on a strategic transformation to enhance its game-related services, including game distribution, in-game item sales, and game advertising [6][11] - Plans to build a business infrastructure to support new services and develop cooperation terms with game studios are underway [6][29] - The goal is to achieve a balanced income structure by 2025, with game-related services accounting for about 30% of total revenue [37] Management Comments on Operating Environment and Future Outlook - Management acknowledged the soft industry environment and the need for time to restore user willingness and affordability [36] - The company expects continued challenges in Q4 due to seasonal factors and the impact of business adjustments, but anticipates a gradual return to stability in live streaming revenue [36][47] - For 2024, management is optimistic about increasing profitability through a higher proportion of game-related services, which have better gross margins [48] Other Important Information - The company has initiated a share repurchase program of up to US$100 million, with US$9 million repurchased by the end of Q3 [25] - Cash and cash equivalents stood at RMB 10.6 billion as of September 30, 2023, slightly down from RMB 10.8 billion at the end of Q2 [24] Q&A Session Summary Question: Update on strategic transformation - Management discussed the ongoing transformation focusing on commercialization and game-related services, emphasizing the active user base as a key advantage [28][29] Question: Revenue impact from strategic transformation - Management noted that adjustments to live streaming businesses led to revenue declines, but they expect gradual stabilization in the future [35][36] Question: Impact of major events like Asian Games - Management highlighted the successful broadcast of the Asian Games, which attracted new users and increased engagement on the platform [40][41] Question: Margin trends and profit targets for 2024 - Management indicated that Q4 may see increased costs due to events, but overall profit levels are expected to improve in 2024 with a focus on game-related services [46][48] Question: Share buyback plans and cash usage - Management confirmed the continuation of the share buyback program and plans to invest in content and technology while considering shareholder returns [50][51]

Huya Inc. HUYA Inc. Reports Third Quarter 2023 Unaudited Financial Results GUANGZHOU, China, Nov. 14, 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 third quarter ended September 30, 2023. Third Quarter 2023 Highlights Total net revenues for the third quarter of 2023 were RMB1,647.8 million (US$225.8 million), compared with RMB2,378.5 million for the same period of 2022. Net incom ...