GUANGZHOU, China, May 17, 2022 /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, 2022.
First Quarter 2022 Highlights
- Total net revenues for the first quarter of 2022 were
RMB2,464.6 million (US$388.8 million), compared with RMB2,604.8 million for the same period of
2021.
- Net loss attributable to HUYA Inc. was
RMB3.3 million (US$0.5 million) for the first quarter of 2022,
compared with net income attributable to HUYA Inc. of RMB185.5 million for the same period of
2021.
- Non-GAAP net income attributable to HUYA
Inc.[1] was RMB46.6
million (US$7.4 million) for
the first quarter of 2022, compared with RMB265.9 million for the same period of
2021.
- Average mobile MAUs[2] of Huya
Live in the first quarter of 2022 increased by 8.5% to 81.9
million from 75.5 million in the same period of 2021.
- Total number of paying users[3]
of Huya Live in the first quarter of 2022 was 5.9 million,
compared with 5.9 million in the same period of 2021.
"Our operational results this quarter reflect the outcome of our
continuous focus on content enrichment and user engagement as we
grew our mobile MAUs by 8.5% year-over-year to reach 81.9 million
amid a challenging macro environment," said Mr. Rongjie Dong, Chief Executive Officer of Huya.
"As a leading game live streaming platform, we remain dedicated to
providing rich content for our growing community and bringing more
opportunities to our content creators. Additionally, in our
relentless efforts to advance product innovation to enable a
cross-platform, more immersive experience for our community, our
users can now better integrate their live streaming experience on
Huya's platform with their game plays. Moreover, we believe the
most recent regulatory changes for live streaming will contribute
to the industry's overall development in the long run, and we will
continue to comply with all applicable laws and regulations.
Leveraging our operational and technological expertise, we believe
in our agility and ability to navigate the evolving and dynamic
market conditions."
Ms. Ashley Xin Wu, Vice President
of Finance of Huya, commented, "Given the continued macro headwinds
and the recent resurgence of the COVID-19 pandemic in China, we achieved RMB2,464.6 million total net revenues and
RMB333.6 million gross profit in the
first quarter of 2022. As we continue to invest in content to drive
sustainable business development, we are committed to further
enhancing operational efficiency and refining resource allocation
to support key areas of our business. We remain confident that by
fostering quality content, driving product innovation, running
efficient operations and enhancing our compliance capabilities, we
will strengthen Huya's core competitiveness in the game live
streaming industry."
[1] "Non-GAAP net
income attributable to HUYA Inc." is defined as net (loss) income
attributable to HUYA Inc. excluding share-based compensation
expenses and gain on fair value change of investments, net of
income taxes. For more information, please refer to "Use of
Non-GAAP Financial Measures" and "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 2022 Financial Results
Total net revenues for the first quarter of 2022 were
RMB2,464.6 million (US$388.8 million), compared with RMB2,604.8 million for the same period of
2021.
Live streaming revenues were RMB2,151.7 million (US$339.4 million) for the first quarter of 2022,
compared with RMB2,392.3 million for
the same period of 2021, primarily due to decreased average
spending per paying user on Huya Live, as the recent macro
environment adversely affected the sentiment of the Company's
paying users.
Advertising and other revenues increased by 47.2% to
RMB312.8 million (US$49.4 million) for the first quarter of 2022
from RMB212.5 million for the same
period of 2021, primarily driven by the increase in content
sub-licensing revenues.
Cost of revenues increased by 1.9% to RMB2,131.0 million (US$336.2 million) for the first quarter of 2022
from RMB2,090.9 million for the same
period of 2021, primarily due to the increase in revenue sharing
fees and content costs.
Revenue sharing fees and content costs increased by 3.4%
to RMB1,807.5 million (US$285.1 million) for the first quarter of 2022
from RMB1,748.6 million for the same
period of 2021, primarily due to the increase in spending on
e-sports content and the increase in revenue sharing fees in
relation to certain broadcaster incentive programs.
Bandwidth costs decreased by 7.3% to RMB168.3 million (US$26.6
million) for the first quarter of 2022 from RMB181.5 million for the same period of 2021,
primarily due to improved bandwidth cost management and continued
technology enhancement efforts.
Gross profit was RMB333.6
million (US$52.6 million) for
the first quarter of 2022, compared with RMB513.9 million for the same period of 2021,
primarily due to lower revenues and increased cost of revenues
primarily driven by higher revenue sharing fees and content costs.
Gross margin was 13.5% for the first quarter of 2022,
compared with 19.7% for the same period of 2021.
Research and development expenses decreased by 1.4% to
RMB196.3 million (US$31.0 million) for the first quarter of 2022
from RMB199.1 million for the same
period of 2021, primarily due to the decrease in share-based
compensation expenses.
Sales and marketing expenses increased by 0.3% to
RMB145.1 million (US$22.9 million) for the first quarter of 2022
from RMB144.6 million for the same
period of 2021.
General and administrative expenses decreased by 3.9% to
RMB80.8 million (US$12.7 million) for the first quarter of 2022
from RMB84.1 million for the same
period of 2021, primarily due to the decrease in share-based
compensation expenses.
Other income was RMB28.3
million (US$4.5 million) for
the first quarter of 2022, compared with RMB76.0 million for the same period of 2021,
primarily attributable to realized damages received in the first
quarter of 2021 from a favorable outcome in a broadcaster-related
lawsuit.
Operating loss was RMB60.2
million (US$9.5 million) for
the first quarter of 2022, compared with operating income of
RMB162.1 million for the same period
of 2021.
Interest and short-term investments income were
RMB59.2 million (US$9.3 million) for the first quarter of 2022,
compared with RMB65.1 million for the
same period of 2021, primarily due to decreased interest rates.
Income tax expenses were RMB9.4
million (US$1.5 million) for
the first quarter of 2022, compared with RMB39.4 million for the same period of 2021,
primarily due to lower taxable income.
Net loss attributable to HUYA Inc. was
RMB3.3 million (US$0.5 million) for the first quarter of 2022,
compared with net income attributable to HUYA Inc. of RMB185.5 million for the same period of 2021.
Non-GAAP net income attributable to HUYA Inc., which
excludes share-based compensation expenses and gain on fair value
change of investments, net of income taxes, was RMB46.6 million (US$7.4
million) for the first quarter of 2022, compared with
RMB265.9 million for the same period
of 2021.
Diluted net loss per American depositary share ("ADS")
was RMB0.01 (US$0.002) for the first quarter of 2022,
compared with diluted net income per ADS of RMB0.77 for the same period of 2021. Each ADS
represents one Class A ordinary share of the Company.
Non-GAAP diluted net income per ADS was RMB0.19 (US$0.03)
for the first quarter of 2022, compared with RMB1.10 for the same period of 2021.
As of March 31, 2022, the Company
had cash and cash equivalents, short-term deposits and
short-term investments of RMB10,473.4
million (US$1,652.1 million),
compared with RMB10,959.1 million as
of December 31, 2021, primarily due
to the increase in investments and prepayments to content
providers.
Recent Development
Regulatory Update
On May 7, 2022, the PRC government
issued the Opinion on Live Streaming Virtual Gifting and
Enhancing the Protection of Minors (the "Opinion"). The Opinion
stipulates that internet platforms shall, among other restrictions,
(i) within one month of the publication of the Opinion terminate
all billboard functions that rank users or broadcasters by the
volume of virtual gifts that they send or receive, respectively,
(ii) restrict certain interaction and engagement functions
between 8:00 p.m. and 10:00 p.m.
every day, and (iii) prohibit minors from purchasing virtual
gifts.
The Company will continue to comply with all applicable laws and
regulations in providing live streaming services, including the
Opinion. The Company is carefully considering the provisions of the
Opinion and assessing their implications for the Company's
business. The Company expects the Opinion, and the compliance
measures to be taken, will have a negative impact on the live
streaming services of the market participants of the industry,
including that of the Company, which in turn may adversely affect
the Company's results of operations and prospect. The Company will
proactively seek guidance from and cooperate with government
authorities in connection with its efforts to comply with the
Opinion and any related implementation rules. There is no assurance
that the measures that the Company takes will be effective or the
implementation of the Opinion would not have a material adverse
impact on the Company's business operations and financial results
in the coming quarters.
Conference Call
The Company's management will host an earnings conference call
at 7:00 a.m. U.S. Eastern Time on
May 17, 2022 (7:00 p.m. Beijing/Hong
Kong time on May 17,
2022).
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, Direct Event passcode, a unique registrant ID and
an e-mail with detailed instructions to join the conference
call.
Participant Online Registration:
http://apac.directeventreg.com/registration/event/3368875
Once registration is complete, please dial-in at least 10
minutes before the scheduled start time of the earnings call and
enter the Direct Event passcode and registrant ID as instructed to
connect to the call.
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
https://ir.huya.com.
A replay of the conference call will be accessible approximately
two hours after the conclusion of the live call until May 24, 2022, by dialing the following telephone
numbers:
United
States:
|
+1-646-254-3697
|
International:
|
+61-2-8199-0299
|
Hong Kong,
China:
|
+852-3051-2780
|
Replay Access
Code:
|
3368875
|
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, non-GAAP operating
income (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 is gross profit excluding share-based compensation expenses
allocated in cost of revenues. Non-GAAP operating income (loss) is
operating income (loss) excluding share-based compensation
expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is
net income (loss) attributable to HUYA Inc. excluding share-based
compensation expenses and gain on fair value change of investments,
net of income taxes. Non-GAAP net income (loss) attributable to
ordinary shareholders is net income (loss) attributable to ordinary
shareholders excluding share-based compensation expenses and gain
on fair value change of investments, net of income taxes. 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, and (ii) gain on fair value change of
investments, 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 measure for planning, forecasting and measuring
results against the forecast. The Company believes that non-GAAP
financial measure is 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,
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 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 non-GAAP
financial measure in isolation from or as an alternative to the
financial measure 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. 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 RMB6.3393 to US$1.00, the noon buying rate in effect on
March 31, 2022, 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 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,
|
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
1,790,784
|
|
1,480,006
|
|
233,465
|
Restricted
cash
|
|
55,670
|
|
90,954
|
|
14,348
|
Short-term
deposits
|
|
8,351,945
|
|
8,269,231
|
|
1,304,439
|
Short-term
investments
|
|
816,331
|
|
724,133
|
|
114,229
|
Accounts receivable,
net
|
|
88,034
|
|
88,388
|
|
13,943
|
Amounts due from
related parties, net
|
|
148,560
|
|
131,146
|
|
20,688
|
Prepayments and other
current assets, net
|
|
664,945
|
|
838,192
|
|
132,222
|
|
|
|
|
|
|
|
Total current
assets
|
|
11,916,269
|
|
11,622,050
|
|
1,833,334
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Deferred tax
assets
|
|
20,245
|
|
70,258
|
|
11,083
|
Investments
|
|
608,617
|
|
865,017
|
|
136,453
|
Property and
equipment, net
|
|
79,611
|
|
73,393
|
|
11,577
|
Intangible assets,
net
|
|
83,942
|
|
78,837
|
|
12,436
|
Right-of-use assets,
net
|
|
395,371
|
|
390,997
|
|
61,678
|
Prepayments and other
non-current assets
|
|
150,887
|
|
142,544
|
|
22,486
|
|
|
|
|
|
|
|
Total non-current
assets
|
|
1,338,673
|
|
1,621,046
|
|
255,713
|
|
|
|
|
|
|
|
Total
assets
|
|
13,254,942
|
|
13,243,096
|
|
2,089,047
|
|
|
|
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
12,579
|
|
12,171
|
|
1,920
|
Advances from
customers and deferred revenue
|
|
459,509
|
|
469,055
|
|
73,992
|
Income taxes
payable
|
|
5,944
|
|
30,889
|
|
4,873
|
Accrued liabilities
and other current liabilities
|
|
1,845,452
|
|
1,680,513
|
|
265,093
|
Amounts due to
related parties
|
|
216,128
|
|
218,651
|
|
34,491
|
Lease liabilities due
within one year
|
|
36,473
|
|
39,204
|
|
6,184
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
2,576,085
|
|
2,450,483
|
|
386,553
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Lease
liabilities
|
|
45,084
|
|
39,463
|
|
6,225
|
Deferred tax
liabilities
|
|
4,597
|
|
20,533
|
|
3,239
|
Deferred
revenue
|
|
118,975
|
|
110,322
|
|
17,403
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
168,656
|
|
170,318
|
|
26,867
|
|
|
|
|
|
|
|
Total
liabilities
|
|
2,744,741
|
|
2,620,801
|
|
413,420
|
|
|
|
|
|
|
|
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,
|
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Class A ordinary
shares (US$0.0001 par value;
750,000,000 shares authorized as of December
31, 2021 and March 31, 2022,respectively;
86,993,764 and 87,179,823 shares issued and
outstanding as of December 31, 2021 and March
31, 2022, respectively)
|
|
58
|
|
58
|
|
9
|
Class B ordinary
shares (US$0.0001 par value;
200,000,000 shares authorized as of December
31, 2021 and March 31, 2022, respectively;
151,076,517 and 151,076,517 shares issued and
outstanding as of December 31, 2021 and
March 31, 2022, respectively)
|
|
99
|
|
99
|
|
16
|
Additional paid-in
capital
|
|
11,764,059
|
|
11,820,958
|
|
1,864,710
|
Statutory
reserves
|
|
122,429
|
|
122,429
|
|
19,313
|
Accumulated
deficit
|
|
(1,300,144)
|
|
(1,303,458)
|
|
(205,615)
|
Accumulated other
comprehensive loss
|
|
(76,300)
|
|
(17,791)
|
|
(2,806)
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
10,510,201
|
|
10,622,295
|
|
1,675,627
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
13,254,942
|
|
13,243,096
|
|
2,089,047
|
HUYA
INC.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All
amounts in thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
Three Months
Ended
|
|
|
March 31, 2021
|
|
December
31, 2021
|
|
March 31, 2022
|
|
March 31, 2022
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
|
|
|
|
|
|
|
|
Live
streaming
|
|
2,392,275
|
|
2,612,897
|
|
2,151,704
|
|
339,423
|
|
Advertising and
others
|
|
212,509
|
|
195,844
|
|
312,847
|
|
49,350
|
|
|
|
|
|
|
|
|
|
|
|
Total net
revenues
|
|
2,604,784
|
|
2,808,741
|
|
2,464,551
|
|
388,773
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues(1)
|
|
(2,090,896)
|
|
(2,807,672)
|
|
(2,130,974)
|
|
(336,153)
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
513,888
|
|
1,069
|
|
333,577
|
|
52,620
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses(1)
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
(199,071)
|
|
(205,709)
|
|
(196,251)
|
|
(30,958)
|
|
Sales and marketing
expenses
|
|
(144,585)
|
|
(218,473)
|
|
(145,065)
|
|
(22,883)
|
|
General and
administrative expenses
|
|
(84,091)
|
|
(90,478)
|
|
(80,774)
|
|
(12,742)
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(427,747)
|
|
(514,660)
|
|
(422,090)
|
|
(66,583)
|
|
|
|
|
|
|
|
|
|
|
|
Other income,
net
|
|
75,968
|
|
56,289
|
|
28,278
|
|
4,461
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
|
162,109
|
|
(457,302)
|
|
(60,235)
|
|
(9,502)
|
|
|
|
|
|
|
|
|
|
|
|
Interest and
short-term investments income
|
|
65,130
|
|
61,589
|
|
59,202
|
|
9,339
|
|
Gain on fair value
change of investments
|
|
-
|
|
-
|
|
7,602
|
|
1,199
|
|
Foreign currency
exchange (losses) gains, net
|
|
(2,260)
|
|
89
|
|
(64)
|
|
(10)
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income tax
(expenses)
benefits
|
|
224,979
|
|
(395,624)
|
|
6,505
|
|
1,026
|
|
|
|
|
|
|
|
|
|
|
|
Income tax (expenses)
benefits
|
|
(39,410)
|
|
83,051
|
|
(9,401)
|
|
(1,483)
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss)
before share of loss in equity
method investments, net of income taxes
|
|
185,569
|
|
(312,573)
|
|
(2,896)
|
|
(457)
|
|
|
|
|
|
|
|
|
|
|
|
Share of loss in
equity method investments, net of
income taxes
|
|
(31)
|
|
(96)
|
|
(418)
|
|
(66)
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to HUYA Inc.
|
|
185,538
|
|
(312,669)
|
|
(3,314)
|
|
(523)
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss) attributable to ordinary
shareholders
|
|
185,538
|
|
(312,669)
|
|
(3,314)
|
|
(523)
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2021
|
|
December
31, 2021
|
|
March 31, 2022
|
|
March 31, 2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
Net income (loss)
per ADS*
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.78
|
|
(1.31)
|
|
(0.01)
|
|
(0.002)
|
—Diluted
|
|
0.77
|
|
(1.31)
|
|
(0.01)
|
|
(0.002)
|
Net income
(loss) per ordinary share
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.78
|
|
(1.31)
|
|
(0.01)
|
|
(0.002)
|
—Diluted
|
|
0.77
|
|
(1.31)
|
|
(0.01)
|
|
(0.002)
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating net income (loss) per
ADS
|
|
|
|
|
|
|
|
|
—Basic
|
|
236,602,426
|
|
239,233,239
|
|
239,746,395
|
|
239,746,395
|
—Diluted
|
|
241,872,722
|
|
239,233,239
|
|
239,746,395
|
|
239,746,395
|
|
|
|
|
|
|
|
|
|
* 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, 2021
|
|
December
31, 2021
|
|
March 31, 2022
|
|
March 31, 2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
16,621
|
|
15,156
|
|
13,112
|
|
2,068
|
Research and
development expenses
|
|
36,741
|
|
31,629
|
|
23,251
|
|
3,668
|
Sales and marketing
expenses
|
|
1,891
|
|
2,245
|
|
1,644
|
|
259
|
General and
administrative expenses
|
|
25,124
|
|
21,968
|
|
18,746
|
|
2,957
|
HUYA
INC.
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, 2021
|
|
December
31, 2021
|
|
March 31, 2022
|
|
March 31, 2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
513,888
|
|
1,069
|
|
333,577
|
|
52,620
|
Share-based
compensation expenses allocated in
cost of revenues
|
|
16,621
|
|
15,156
|
|
13,112
|
|
2,068
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross
profit
|
|
530,509
|
|
16,225
|
|
346,689
|
|
54,688
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
|
162,109
|
|
(457,302)
|
|
(60,235)
|
|
(9,502)
|
Share-based
compensation expenses
|
|
80,377
|
|
70,998
|
|
56,753
|
|
8,952
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating
income (loss)
|
|
242,486
|
|
(386,304)
|
|
(3,482)
|
|
(550)
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to HUYA Inc.
|
|
185,538
|
|
(312,669)
|
|
(3,314)
|
|
(523)
|
Gain on fair value
change of investments, net of
income taxes
|
|
-
|
|
-
|
|
(6,842)
|
|
(1,079)
|
Share-based
compensation expenses
|
|
80,377
|
|
70,998
|
|
56,753
|
|
8,952
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income (loss) attributable to HUYA Inc.
|
|
265,915
|
|
(241,671)
|
|
46,597
|
|
7,350
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to ordinary
shareholders
|
|
185,538
|
|
(312,669)
|
|
(3,314)
|
|
(523)
|
Gain on fair value
change of investments, net of
income taxes
|
|
-
|
|
-
|
|
(6,842)
|
|
(1,079)
|
Share-based
compensation expenses
|
|
80,377
|
|
70,998
|
|
56,753
|
|
8,952
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income (loss) attributable to
ordinary shareholders
|
|
265,915
|
|
(241,671)
|
|
46,597
|
|
7,350
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income (loss) per ordinary share
|
|
|
|
|
|
|
|
|
—Basic
|
|
1.12
|
|
(1.01)
|
|
0.19
|
|
0.03
|
—Diluted
|
|
1.10
|
|
(1.01)
|
|
0.19
|
|
0.03
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income (loss) per ADS
|
|
|
|
|
|
|
|
|
—Basic
|
|
1.12
|
|
(1.01)
|
|
0.19
|
|
0.03
|
—Diluted
|
|
1.10
|
|
(1.01)
|
|
0.19
|
|
0.03
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating Non-GAAP net income (loss)
per
ADS
|
|
|
|
|
|
|
|
|
—Basic
|
|
236,602,426
|
|
239,233,239
|
|
239,746,395
|
|
239,746,395
|
—Diluted
|
|
241,872,722
|
|
239,233,239
|
|
241,014,680
|
|
241,014,680
|
View original
content:https://www.prnewswire.com/news-releases/huya-inc-reports-first-quarter-2022-unaudited-financial-results-301548723.html
SOURCE HUYA Inc.