GUANGZHOU, China, May 5, 2022
/PRNewswire/ -- HUYA Inc. ("Huya" or the "Company") (NYSE:
HUYA), a leading game live streaming platform in China, today provides an update on its status
under the Holding Foreign Companies Accountable Act (the
Huya is aware that the Company has been identified by the United
States Securities and Exchange Commission (the "SEC") under the
HFCAA on May 4, 2022. Huya
understands such identification may result from its filing of the
annual report on Form 20-F for the fiscal year ended December 31, 2021.
Huya understands the SEC made such identification pursuant to
the HFCAA and its implementation rules issued thereunder, and this
indicates that the SEC determines that the Company used an auditor
whose working paper cannot be inspected or investigated completely
by the Public Company Accounting Oversight Board (the "PCAOB"), to
issue the audit opinion for its financial statements for the fiscal
year ended December 31, 2021.
In accordance with the HFCAA, a company will be delisted from a
U.S. stock exchange only if the company has been identified by the
SEC for three consecutive years due to the PCAOB's inability to
inspect auditor's working paper.
Huya has been actively exploring possible solutions. The Company
will continue to comply with applicable laws and regulations in
both China and the United States, and strive to maintain its
listing status on the New York Stock Exchange.
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
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. 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; 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 adverse
changes 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:
The Piacente Group, Inc.
In the United States:
The Piacente Group, Inc.
SOURCE HUYA Inc.