GUANGZHOU, China, Aug. 16,
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 second quarter ended
June 30, 2022.
Second Quarter 2022 Highlights
- Total net revenues for the second quarter of 2022 were
RMB2,275.2 million (US$339.7 million), compared with RMB2,962.4 million for the same period of
2021.
- Net loss attributable to HUYA Inc. was
RMB19.4 million (US$2.9 million) for the second quarter of 2022,
compared with net income attributable to HUYA Inc. of RMB186.3 million for the same period of
2021.
- Non-GAAP net income attributable to HUYA
Inc.[1] was RMB5.9
million (US$0.9 million) for
the second quarter of 2022, compared with RMB250.1 million for the same period of
2021.
- Average mobile MAUs[2] of Huya
Live for the second quarter of 2022 increased by 7.7% to 83.6
million from 77.6 million for the same period of 2021.
- Total number of paying users[3]
of Huya Live for the second quarter of 2022 was 5.6 million,
compared with 5.6 million for the same period of 2021.
"Our steady focus on content enrichment and product upgrades
continues to drive value for our users and pave the way for our
sustainable, long-term growth. For the second quarter of 2022, Huya
Live's mobile MAUs maintained solid momentum, growing 7.7%
year-over-year to 83.6 million," said Mr. Rongjie Dong, Chief Executive Officer of Huya.
"While the turbulence in the macro and regulatory environment has
decelerated our monetization in the short term, we remain confident
in the broad-based strength of our solid business foundation that
underpins our ability to satisfy our users' core needs. As a leader
in the game live streaming market in China, we are constantly iterating our
technology and products to provide high-quality, compliant content
for our users and amplify our value proposition with our
stakeholders across the game industry value chain."
Ms. Ashley Xin Wu, Vice President
of Finance of Huya, commented, "Against the backdrop of macro
headwinds, our revenues were approximately RMB2.3 billion for the second quarter of 2022,
and our gross profit came in at RMB219.1
million as we continued our strategic efforts in ramping up
investment in new and relevant content. We believe we are
well-positioned to drive continued momentum in our user community
expansion. Despite external uncertainties, we remain diligent in
improving our operational efficiency and optimizing our business
expenses in a nimble way, delivering 17.0% quarter-over-quarter and
21.6% year-over-year deductions in total operating expenses. Going
forward, we aim to further strengthen our monetization
capabilities, improve our cost and expense structure, and solidify
our business fundamentals to achieve sustainable business
development over the long term."
[1] "Non-GAAP net
income attributable to HUYA Inc." is defined as net (loss) income
attributable to HUYA Inc. excluding (i) share-based compensation
expenses, (ii) gains on fair value change of investments and equity
investee's investments; and gain arising from partial disposal of
an investment owned by an equity investee, 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.
|
Second Quarter 2022 Financial Results
Total net revenues for the second quarter of 2022 were
RMB2,275.2 million (US$339.7 million), compared with RMB2,962.4 million for the same period of
2021.
Live streaming revenues were RMB2,051.9 million (US$306.3 million) for the second quarter of 2022,
compared with RMB2,579.2 million for
the same period of 2021, primarily due to decreased average
spending per paying user on Huya Live, as the recent macro and
regulatory environment adversely affected the sentiment of the
Company's paying users.
Advertising and other revenues were RMB223.3 million (US$33.3
million) for the second quarter of 2022, compared with
RMB383.2 million for the same period
of 2021, primarily due to the 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 13.6% to RMB2,056.1 million (US$307.0 million) for the second quarter of 2022
from RMB2,381.1 million for the same
period of 2021, primarily due to decreased revenue sharing fees and
content costs, as well as bandwidth costs.
Revenue sharing fees and content costs decreased by 13.3%
to RMB1,767.8 million (US$263.9 million) for the second quarter of 2022
from RMB2,039.2 million for the same
period of 2021, primarily due to the decrease in revenue sharing
fees associated with declined live streaming revenues.
Bandwidth costs decreased by 9.9% to RMB154.4 million (US$23.0
million) for the second quarter of 2022 from RMB171.4 million for the same period of 2021,
primarily due to improved bandwidth cost management and continued
technology enhancement efforts.
Gross profit was RMB219.1
million (US$32.7 million) for
the second quarter of 2022, compared with RMB581.3 million for the same period of 2021,
primarily due to lower revenues. Gross margin was 9.6% for
the second quarter of 2022, compared with 19.6% for the same period
of 2021.
Research and development expenses decreased by 19.0% to
RMB168.4 million (US$25.1 million) for the second quarter of 2022
from RMB207.9 million for the same
period of 2021, primarily due to the decrease in share-based
compensation expenses.
Sales and marketing expenses decreased by 40.0% to
RMB100.3 million (US$15.0 million) for the second quarter of 2022
from RMB167.0 million for the same
period of 2021, primarily due to decreased marketing and promotion
fees as well as personnel-related expenses.
General and administrative expenses increased by 13.5% to
RMB81.8 million (US$12.2 million) for the second quarter of 2022
from RMB72.1 million for the same
period of 2021, primarily due to the increase in professional
service fees and personnel-related expenses.
Other income was RMB50.3
million (US$7.5 million) for
the second quarter of 2022, compared with RMB47.6 million for the same period of 2021.
Operating loss was RMB81.1
million (US$12.1 million) for
the second quarter of 2022, compared with operating income of
RMB181.9 million for the same period
of 2021.
Interest and short-term investments income were
RMB65.6 million (US$9.8 million) for the second quarter of 2022,
compared with RMB57.7 million for the
same period of 2021.
Income tax expenses were RMB1.3
million (US$0.2 million) for
the second quarter of 2022, compared with RMB58.3 million for the same period of 2021,
primarily due to the lower taxable income.
Net loss attributable to HUYA Inc. was
RMB19.4 million (US$2.9 million) for the second quarter of 2022,
compared with net income attributable to HUYA Inc. of RMB186.3 million for the same period of 2021.
Non-GAAP net income attributable to HUYA Inc., which
excludes share-based compensation expenses, was RMB5.9 million (US$0.9
million) for the second quarter of 2022, compared with
RMB250.1 million for the same period
of 2021, which excludes share-based compensation expenses, gains on
fair value change of investments and equity investees' investments,
and gain arising from partial disposal of an investment owned by an
equity investee, net of income taxes.
Diluted net loss per American depositary share ("ADS")
was RMB0.08 (US$0.01) for the second 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 RMB0.02 (US$0.004)
for the second quarter of 2022, compared with RMB1.04 for the same period of 2021.
As of June 30, 2022, the Company
had cash and cash equivalents, short-term deposits and
short-term investments of RMB10,716.7
million (US$1,600.0 million),
compared with RMB10,473.4 million as
of March 31, 2022.
Conference Call
The Company's management will host an earnings conference call
at 7:00 a.m. U.S. Eastern Time on
August 16, 2022 (7:00 p.m. Beijing/Hong
Kong time on August 16,
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, a personal PIN and an e-mail with detailed
instructions to join the conference call.
Participant Online Registration:
https://register.vevent.com/register/BIa451f7eabc6c4462aa4aa81302702803
Once complete the registration, 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, 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, gains on fair value change of investments
and equity investee's investments, and gain arising from partial
disposal of an investment owned by an equity investee, 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, gains on
fair value change of investments and equity investee's investments,
and gain arising from partial disposal of an investment owned by an
equity investee, 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) gains on fair value change of
investments and equity investee's investments; and gain arising
from partial disposal of an investment owned by an equity investee,
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) gains on fair value change of investments and equity
investee's investments; and gain arising from partial disposal of
an investment owned by an equity investee, 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 RMB6.6981 to US$1.00, the noon buying rate in effect on
June 30, 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 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 June
30,
|
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
1,790,784
|
|
2,068,235
|
|
308,779
|
Restricted
cash
|
|
55,670
|
|
9,543
|
|
1,425
|
Short-term
deposits
|
|
8,351,945
|
|
8,646,060
|
|
1,290,823
|
Short-term
investments
|
|
816,331
|
|
2,442
|
|
365
|
Accounts receivable,
net
|
|
88,034
|
|
57,397
|
|
8,569
|
Amounts due from
related parties, net
|
|
148,560
|
|
161,490
|
|
24,110
|
Prepayments and other
current assets, net
|
|
664,945
|
|
790,213
|
|
117,976
|
|
|
|
|
|
|
|
Total current
assets
|
|
11,916,269
|
|
11,735,380
|
|
1,752,047
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Deferred tax
assets
|
|
20,245
|
|
54,358
|
|
8,115
|
Investments
|
|
608,617
|
|
899,284
|
|
134,260
|
Property and
equipment, net
|
|
79,611
|
|
129,101
|
|
19,274
|
Intangible assets,
net
|
|
83,942
|
|
72,090
|
|
10,763
|
Right-of-use assets,
net
|
|
395,371
|
|
380,032
|
|
56,737
|
Prepayments and other
non-current assets
|
|
150,887
|
|
132,148
|
|
19,729
|
|
|
|
|
|
|
|
Total non-current
assets
|
|
1,338,673
|
|
1,667,013
|
|
248,878
|
|
|
|
|
|
|
|
Total
assets
|
|
13,254,942
|
|
13,402,393
|
|
2,000,925
|
|
|
|
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
12,579
|
|
37,164
|
|
5,548
|
Advances from
customers and deferred revenue
|
|
459,509
|
|
431,952
|
|
64,489
|
Income taxes
payable
|
|
5,944
|
|
28,258
|
|
4,219
|
Accrued liabilities
and other current liabilities
|
|
1,845,452
|
|
1,569,763
|
|
234,360
|
Amounts due to related
parties
|
|
216,128
|
|
166,010
|
|
24,785
|
Lease liabilities due
within one year
|
|
36,473
|
|
39,806
|
|
5,943
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
2,576,085
|
|
2,272,953
|
|
339,344
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Lease
liabilities
|
|
45,084
|
|
29,200
|
|
4,359
|
Deferred tax
liabilities
|
|
4,597
|
|
20,533
|
|
3,065
|
Deferred
revenue
|
|
118,975
|
|
93,564
|
|
13,969
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
168,656
|
|
143,297
|
|
21,393
|
|
|
|
|
|
|
|
Total
liabilities
|
|
2,744,741
|
|
2,416,250
|
|
360,737
|
|
|
|
|
|
|
|
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 June
30,
|
|
|
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 June 30, 2022,respectively;
86,993,764 and 88,833,919 shares issued and
outstanding as of December 31, 2021 and June
30, 2022, respectively)
|
|
58
|
|
59
|
|
9
|
Class B ordinary
shares (US$0.0001 par value;
200,000,000 shares authorized as of December
31, 2021 and June 30, 2022, respectively;
151,076,517 and 150,386,517 shares issued and
outstanding as of December 31, 2021 and June
30, 2022, respectively)
|
|
99
|
|
98
|
|
15
|
Additional paid-in
capital
|
|
11,764,059
|
|
11,847,729
|
|
1,768,819
|
Statutory
reserves
|
|
122,429
|
|
122,429
|
|
18,278
|
Accumulated
deficit
|
|
(1,300,144)
|
|
(1,322,824)
|
|
(197,492)
|
Accumulated other
comprehensive income
|
|
(76,300)
|
|
338,652
|
|
50,559
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
10,510,201
|
|
10,986,143
|
|
1,640,188
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
13,254,942
|
|
13,402,393
|
|
2,000,925
|
HUYA INC.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June
30,
2021
|
|
March
31,
2022
|
|
June
30,
2022
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Live
streaming
|
|
2,579,178
|
|
2,151,704
|
|
2,051,920
|
|
306,344
|
|
4,971,453
|
|
4,203,624
|
|
627,585
|
Advertising and
others
|
|
383,197
|
|
312,847
|
|
223,254
|
|
33,331
|
|
595,706
|
|
536,101
|
|
80,038
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net
revenues
|
|
2,962,375
|
|
2,464,551
|
|
2,275,174
|
|
339,675
|
|
5,567,159
|
|
4,739,725
|
|
707,623
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues(1)
|
|
(2,381,056)
|
|
(2,130,974)
|
|
(2,056,054)
|
|
(306,961)
|
|
(4,471,952)
|
|
(4,187,028)
|
|
(625,107)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
581,319
|
|
333,577
|
|
219,120
|
|
32,714
|
|
1,095,207
|
|
552,697
|
|
82,516
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
(207,899)
|
|
(196,251)
|
|
(168,411)
|
|
(25,143)
|
|
(406,970)
|
|
(364,662)
|
|
(54,443)
|
Sales and marketing
expenses
|
|
(167,045)
|
|
(145,065)
|
|
(100,264)
|
|
(14,969)
|
|
(311,630)
|
|
(245,329)
|
|
(36,627)
|
General and
administrative expenses
|
|
(72,130)
|
|
(80,774)
|
|
(81,839)
|
|
(12,218)
|
|
(156,221)
|
|
(162,613)
|
|
(24,277)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(447,074)
|
|
(422,090)
|
|
(350,514)
|
|
(52,330)
|
|
(874,821)
|
|
(772,604)
|
|
(115,347)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income,
net
|
|
47,643
|
|
28,278
|
|
50,283
|
|
7,507
|
|
123,611
|
|
78,561
|
|
11,729
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
|
181,888
|
|
(60,235)
|
|
(81,111)
|
|
(12,109)
|
|
343,997
|
|
(141,346)
|
|
(21,102)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and short-term
investments income
|
|
57,729
|
|
59,202
|
|
65,633
|
|
9,799
|
|
122,859
|
|
124,835
|
|
18,637
|
Gain on fair value
change of investments
|
|
3,593
|
|
7,602
|
|
-
|
|
-
|
|
3,593
|
|
7,602
|
|
1,135
|
Foreign currency
exchange gains (losses),
net
|
|
722
|
|
(64)
|
|
(2,860)
|
|
(427)
|
|
(1,538)
|
|
(2,924)
|
|
(437)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss)
before income tax expenses
|
|
243,932
|
|
6,505
|
|
(18,338)
|
|
(2,737)
|
|
468,911
|
|
(11,833)
|
|
(1,767)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expenses
|
|
(58,291)
|
|
(9,401)
|
|
(1,295)
|
|
(193)
|
|
(97,701)
|
|
(10,696)
|
|
(1,597)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
share of loss in equity
method investments, net of income taxes
|
|
185,641
|
|
(2,896)
|
|
(19,633)
|
|
(2,930)
|
|
371,210
|
|
(22,529)
|
|
(3,364)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of income
(loss) in equity method
investments, net of income taxes
|
|
610
|
|
(418)
|
|
267
|
|
40
|
|
579
|
|
(151)
|
|
(23)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to HUYA Inc.
|
|
186,251
|
|
(3,314)
|
|
(19,366)
|
|
(2,890)
|
|
371,789
|
|
(22,680)
|
|
(3,387)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss) attributable to ordinary
shareholders
|
|
186,251
|
|
(3,314)
|
|
(19,366)
|
|
(2,890)
|
|
371,789
|
|
(22,680)
|
|
(3,387)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
Six Months
Ended
|
|
|
June
30,
2021
|
|
March
31,
2022
|
|
June
30,
2022
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
per ADS*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.78
|
|
(0.01)
|
|
(0.08)
|
|
(0.01)
|
|
1.57
|
|
(0.09)
|
|
(0.01)
|
—Diluted
|
|
0.77
|
|
(0.01)
|
|
(0.08)
|
|
(0.01)
|
|
1.54
|
|
(0.09)
|
|
(0.01)
|
Net income
(loss) per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.78
|
|
(0.01)
|
|
(0.08)
|
|
(0.01)
|
|
1.57
|
|
(0.09)
|
|
(0.01)
|
—Diluted
|
|
0.77
|
|
(0.01)
|
|
(0.08)
|
|
(0.01)
|
|
1.54
|
|
(0.09)
|
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating net income per ADS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
238,105,367
|
|
239,746,395
|
|
241,341,080
|
|
241,341,080
|
|
237,358,048
|
|
240,549,059
|
|
240,549,059
|
—Diluted
|
|
241,536,071
|
|
239,746,395
|
|
241,341,080
|
|
241,341,080
|
|
241,727,114
|
|
240,549,059
|
|
240,549,059
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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
|
|
Six Months
Ended
|
|
|
June
30,
2021
|
|
March
31,
2022
|
|
June
30,
2022
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
12,969
|
|
13,112
|
|
3,667
|
|
547
|
|
29,590
|
|
16,779
|
|
2,505
|
Research and
development expenses
|
|
32,226
|
|
23,251
|
|
7,275
|
|
1,086
|
|
68,967
|
|
30,526
|
|
4,557
|
Sales and marketing
expenses
|
|
1,670
|
|
1,644
|
|
249
|
|
37
|
|
3,561
|
|
1,893
|
|
283
|
General and
administrative expenses
|
|
20,636
|
|
18,746
|
|
14,045
|
|
2,097
|
|
45,760
|
|
32,791
|
|
4,896
|
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
|
|
Six Months
Ended
|
|
|
June
30,
2021
|
|
March
31,
2022
|
|
June
30,
2022
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
581,319
|
|
333,577
|
|
219,120
|
|
32,714
|
|
1,095,207
|
|
552,697
|
|
82,516
|
Share-based
compensation expenses allocated
in cost of revenues
|
|
12,969
|
|
13,112
|
|
3,667
|
|
547
|
|
29,590
|
|
16,779
|
|
2,505
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross
profit
|
|
594,288
|
|
346,689
|
|
222,787
|
|
33,261
|
|
1,124,797
|
|
569,476
|
|
85,021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
181,888
|
|
(60,235)
|
|
(81,111)
|
|
(12,109)
|
|
343,997
|
|
(141,346)
|
|
(21,102)
|
Share-based
compensation expenses
|
|
67,501
|
|
56,753
|
|
25,236
|
|
3,767
|
|
147,878
|
|
81,989
|
|
12,241
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating
income (loss)
|
|
249,389
|
|
(3,482)
|
|
(55,875)
|
|
(8,342)
|
|
491,875
|
|
(59,357)
|
|
(8,861)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to HUYA Inc.
|
|
186,251
|
|
(3,314)
|
|
(19,366)
|
|
(2,890)
|
|
371,789
|
|
(22,680)
|
|
(3,387)
|
Gains on fair value
change of investments and
equity investee's investments; and gain
arising from partial disposal of an
investment owned by an equity investee, net of
income taxes
|
|
(3,619)
|
|
(6,842)
|
|
-
|
|
-
|
|
(3,619)
|
|
(6,842)
|
|
(1,021)
|
Share-based
compensation expenses
|
|
67,501
|
|
56,753
|
|
25,236
|
|
3,767
|
|
147,878
|
|
81,989
|
|
12,241
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
attributable to HUYA Inc.
|
|
250,133
|
|
46,597
|
|
5,870
|
|
877
|
|
516,048
|
|
52,467
|
|
7,833
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to ordinary
shareholders
|
|
186,251
|
|
(3,314)
|
|
(19,366)
|
|
(2,890)
|
|
371,789
|
|
(22,680)
|
|
(3,387)
|
Gains on fair value
change of investments and
equity investee's investments; and gain
arising from partial disposal of an
investment owned by an equity investee, net
of income taxes
|
|
(3,619)
|
|
(6,842)
|
|
-
|
|
-
|
|
(3,619)
|
|
(6,842)
|
|
(1,021)
|
Share-based
compensation expenses
|
|
67,501
|
|
56,753
|
|
25,236
|
|
3,767
|
|
147,878
|
|
81,989
|
|
12,241
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
attributable to
ordinary shareholders
|
|
250,133
|
|
46,597
|
|
5,870
|
|
877
|
|
516,048
|
|
52,467
|
|
7,833
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
1.05
|
|
0.19
|
|
0.02
|
|
0.004
|
|
2.17
|
|
0.22
|
|
0.03
|
—Diluted
|
|
1.04
|
|
0.19
|
|
0.02
|
|
0.004
|
|
2.13
|
|
0.22
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per ADS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
1.05
|
|
0.19
|
|
0.02
|
|
0.004
|
|
2.17
|
|
0.22
|
|
0.03
|
—Diluted
|
|
1.04
|
|
0.19
|
|
0.02
|
|
0.004
|
|
2.13
|
|
0.22
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating Non-GAAP net income per
ADS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
238,105,367
|
|
239,746,395
|
|
241,341,080
|
|
241,341,080
|
|
237,358,048
|
|
240,549,059
|
|
240,549,059
|
—Diluted
|
|
241,536,071
|
|
241,014,680
|
|
241,686,424
|
|
241,686,424
|
|
241,727,114
|
|
241,222,552
|
|
241,222,552
|
View original
content:https://www.prnewswire.com/news-releases/huya-inc-reports-second-quarter-2022-unaudited-financial-results-301606344.html
SOURCE HUYA Inc.