虎牙2023年Q4和2023年全年财报-英

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HUYAInc.ReportsFourthQuarterandFiscalYear2023UnauditedFinancialResultsandAnnouncesSpecialCashDividend

GUANGZHOU,China,March19,2024/PRNewswire/--HUYAInc.(“Huya”orthe“Company”)(NYSE:HUYA),aleadinggamelivestreamingplatforminChina,todayannounceditsunauditedfinancialresultsforthefourthquarterandfiscalyearendedDecember31,2023.

FourthQuarter2023Highlights1

.Totalnetrevenuesforthefourthquarterof2023wereRMB1,529.8million(US$215.5million),comparedwithRMB2,119.4millionforthesameperiodof2022.

.NetlossattributabletoHUYAInc.wasRMB275.0million(US$38.7million)forthefourthquarterof2023,comparedwithRMB562.7millionforthesameperiodof2022.

.Non-GAAPnetlossattributabletoHUYAInc.2wasRMB189.7million(US$26.7million)forthefourthquarterof2023,comparedwithRMB438.7millionforthesameperiodof2022.

.AveragemobileMAUs3ofHuyaLiveforthefourthquarterof2023remainedflatat85.5million,comparedwith85.5millionforthesameperiodof2022.

FiscalYear2023Highlights

.Totalnetrevenuesforfiscalyear2023wereRMB6,994.3million(US$985.1million),comparedwithRMB9,264.4millionfor2022.

.NetlossattributabletoHUYAInc.forfiscalyear2023wasRMB204.5million(US$28.8million),comparedwithRMB547.7millionfor2022.

.Non-GAAPnetincomeattributabletoHUYAInc.forfiscalyear2023wasRMB119.1million(US$16.8million),comparedwithanon-GAAPnetlossattributabletoHUYAInc.ofRMB290.7millionfor2022.

.AveragemobileMAUsofHuyaLiveforfiscalyear2023was84.1million,comparedwith84.3millionfor2022.

1InDecember2023,theCompanyacquiredaglobalmobileapplicationserviceproviderfromTencentHoldingsLimitedforanaggregatecashconsiderationofUS$81million,theprincipaltermsofwhichwerepreviouslydisclosed.Asaresultofthisbusinesscombinationundercommoncontrol,inaccordancewithASC805,BusinessCombinations,theCompanyhasconsolidatedthefinancialresultsofthismobileapplicationserviceprovideronaretrospectivebasissincethefirstquarterof2022.Accordingly,retrospectiveadjustmentshavebeenmadetotheCompany’sconsolidatedhistoricalfinancialinformationpresentedherein,reflectingtheconsolidationofthismobileapplicationserviceprovider.TheCompanydoesnotbelievetheretrospectiveadjustmentstotheCompany’sresultstobematerial,ascomparedtothehistoricalfinancialinformationpreviouslypresented.GiventhatthiswasatransactionthatinvolvedentitiesundercommoncontrolofTencentHoldingsLimited,allassetsandassumedliabilitiestransferredhavebeenrecognizedatthehistoricalcostoftheparent.

2“Non-GAAPnet(loss)incomeattributabletoHUYAInc.”isdefinedasnet(loss)incomeattributabletoHUYAInc.excludingshare-basedcompensationexpenses,gainonfairvaluechangeofinvestmentsanddisposalofequityinvestments,netofincometaxes,impairmentofgoodwillandinvestments,lossonequitymethodinvestment,netofincometaxes,andamortizationofintangibleassetsfrombusinessacquisitions,netofincometaxes,totheextentapplicable.Formoreinformation,pleaserefertothesectiontitled“UseofNon-GAAPFinancialMeasures”andthetablecaptioned“HUYAInc.UnauditedReconciliationsofGAAPandNon-GAAPResults”attheendofthispressrelease.

3Referstoaveragemonthlyactiveusersonmobileapps.AveragemobileMAUsforanyperiodiscalculatedbydividing(i)thesumofactiveusersonthemobileappsforeachmonthduringsuchrelevantperiod,by(ii)thenumberofmonthsduringsuchrelevantperiod.

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Mr.JunhongHuang,ActingCo-ChiefExecutiveOfficerandSeniorVicePresidentofHuya,commented,“Inthefourthquarterof2023,wecontinuedtoattractandengageabroadaudiencewithrichgameande-sportscontentwhileupgradinginteractivefeaturestoenhancetheviewingexperience.Meanwhile,wemadegoodprogressinrevampingourtechnology,products,andoperationalstrategiestoprovidemoreinnovativegame-relatedservices.Asaresult,HuyaLive'suserbaseremainedstableduringthequarter,withaveragemobileMAUsof85.5million.Payingusers4onHuyaLiveincreasedsequentiallyforthefourthquarter,risingmarginallyto4.3millionthankstomoreuserspayingforourplatform’snewgame-relatedserviceofferings.Asweenter2024,despitetherapidlychangingmarketconditions,wewillcontinuetosolidifyourcorelivestreamingbusinesswhilepropellingthedevelopmentofgame-relatedservicestoexpandourbusinesshorizonsandunlocknewrevenuestreams.Weremainconfidentinourfuturebusinessprospectsaswesteadilyimplementourstrategictransformation.”

“Giventhesoftindustryenvironmentalongwithourproactivebusinessadjustments,ourlivestreamingrevenuescontractedinthefourthquarter.Nevertheless,wewereencouragedtoseethatadvertisingandotherrevenuesincreasedby40.5%quarter-over-quarterandby29.2%year-over-year,mainlyduetothegrowthofgameadvertisinganddistributionrevenuesaswedeepenedcooperationwithgamecompanies,”saidMs.AshleyXinWu,Huya’sActingCo-ChiefExecutiveOfficerandVicePresidentofFinance.“Forthefullyearof2023,werecordedtotalnetrevenuesofapproximatelyRMB7billion.However,wedroveameaningfulyear-over-yearmarginexpansionacrosstheboardthroughcontinuous,comprehensiveeffortstoimprovecostefficiencyandoperationalperformance.Also,we’recommittedtoenhancingshareholdervaluethroughdisciplinedcapitalallocation.Asoftheendof2023,wehadrepurchasedUS$28.8millionofHuyashares.Inaddition,we’repleasedtodeclareaspecialcashdividendtotalingapproximatelyUS$150millionforourshareholders.Goingforward,wewillcontinuetostrengthenouroperationalandfinancialcapabilitiestodrivesustainabledevelopment.”

FourthQuarter2023FinancialResults

Totalnetrevenuesforthefourthquarterof2023wereRMB1,529.8million(US$215.5million),comparedwithRMB2,119.4millionforthesameperiodof2022.

LivestreamingrevenueswereRMB1,343.5million(US$189.2million)forthefourthquarterof2023,comparedwithRMB1,975.2millionforthesameperiodof2022,primarilyduetothesoftmacroandindustryenvironmentandtheCompany’sproactivebusinessadjustmentsinsupportofitsstrategictransformationandprudentoperations.

AdvertisingandotherrevenueswereRMB186.3million(US$26.2million)forthefourthquarterof2023,comparedwithRMB144.2millionforthesameperiodof2022,primarilyduetoincreasedrevenuesfromgameadvertisinganddistributionservices.

4Referstothesumofuseraccountsthatpurchasedvariousproductsandservicesonourplatformatleastonceduringsuchrelevantperiod.

Costofrevenuesdecreasedby36.6%toRMB1,514.6million(US$213.3million)forthefourthquarterof2023fromRMB2,387.1millionforthesameperiodof2022,primarilyduetodecreasedrevenuesharingfeesandcontentcosts,aswellasbandwidthcosts.

Revenuesharingfeesandcontentcostsdecreasedby39.4%toRMB1,316.4million(US$185.4million)forthefourthquarterof2023fromRMB2,170.6millionforthesameperiodof2022,primarilyduetothedecreaseinrevenuesharingfeesassociatedwiththedeclineinlivestreamingrevenues,aswellaslowercostsrelatedtoe-sportscontentandcontentcreators.

Bandwidthcostsdecreasedby18.6%toRMB81.5million(US$11.5million)forthefourthquarterof2023fromRMB100.1millionforthesameperiodof2022,primarilyduetoimprovedbandwidthcostmanagement,favorablepricingtermsandcontinuedtechnologyenhancementefforts.

GrossprofitwasRMB15.2million(US$2.1million)forthefourthquarterof2023,comparedwithagrosslossofRMB267.7millionforthesameperiodof2022.Grossmarginwas1.0%forthefourthquarterof2023,comparedwithnegative12.6%forthesameperiodof2022,primarilyduetodecreasedrevenuesharingfeesandcontentcostsasapercentageoftotalnetrevenues.

Researchanddevelopmentexpensesdecreasedby5.6%toRMB137.0million(US$19.3million)forthefourthquarterof2023fromRMB145.1millionforthesameperiodof2022,primarilyduetodecreasedshare-basedcompensationexpenses.

Salesandmarketingexpensesdecreasedby10.8%toRMB113.3million(US$16.0million)forthefourthquarterof2023fromRMB127.0millionforthesameperiodof2022,primarilyduetodecreasedpersonnel-relatedexpenses.

Generalandadministrativeexpensesincreasedby17.8%toRMB100.2million(US$14.1million)forthefourthquarterof2023fromRMB85.1millionforthesameperiodof2022,primarilyduetoprovisionsandincreasedprofessionalservicesfees,partiallyoffsetbydecreasedshare-basedcompensationexpenses.

OtherincomewasRMB13.1million(US$1.8million)forthefourthquarterof2023,comparedwithRMB43.8millionforthesameperiodof2022,primarilyduetolowerindirecttaxrefundsandgovernmentsubsidies.

OperatinglosswasRMB322.3million(US$45.4million)forthefourthquarterof2023,comparedwithRMB581.2millionforthesameperiodof2022.

Interestandshort-terminvestmentsincomewasRMB129.5million(US$18.2million)forthefourthquarterof2023,comparedwithRMB101.7millionforthesameperiodof2022,primarilyduetoincreasedinterestratesandimprovedmanagementofdepositproducts.

ImpairmentlossofinvestmentswasRMB79.9million(US$11.3million)forthefourthquarterof2023,comparedwithRMB55.2millionforthesameperiodof2022,primarilyduetotherecognitionofincreasedimpairmentchargesontheCompany’sinvestments.

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NetlossattributabletoHUYAInc.wasRMB275.0million(US$38.7million)forthefourthquarterof2023,comparedwithRMB562.7millionforthesameperiodof2022.

Non-GAAPnetlossattributabletoHUYAInc.wasRMB189.7million(US$26.7million)forthefourthquarterof2023,comparedwithRMB438.7millionforthesameperiodof2022.

BasicanddilutednetlossperAmericandepositaryshare(“ADS”)wereeachRMB1.14(US$0.16)forthefourthquarterof2023.BasicanddilutednetlossperADSwereeachRMB2.32forthefourthquarterof2022.EachADSrepresentsoneClassAordinaryshareoftheCompany.

Non-GAAPbasicanddilutednetlossperADSwereeachRMB0.79(US$0.11)forthefourthquarterof2023.Non-GAAPbasicanddilutednetlossperADSwereeachRMB1.81forthefourthquarterof2022.

AsofDecember31,2023,theCompanyhadcashandcashequivalents,short-termdepositsandlong-termdepositsofRMB9,916.4million(US$1,396.7million),comparedwithRMB10,676.8millionasofSeptember30,2023.

FiscalYear2023FinancialResults

TotalnetrevenueswereRMB6,994.3million(US$985.1million)forfiscalyear2023,comparedwithRMB9,264.4millionfortheprioryear.

LivestreamingrevenueswereRMB6,450.8million(US$908.6million)forfiscalyear2023,comparedwithRMB8,195.9millionfortheprioryear,primarilyduetothesoftmacroandindustryenvironmentandtheCompany’sproactivebusinessadjustmentsinsupportofitsstrategictransformationandprudentoperations.

AdvertisingandotherrevenueswereRMB543.5million(US$76.6million)forfiscalyear2023,comparedwithRMB1,068.4millionfortheprioryear,primarilyduetoasignificantdecreaseincontentsub-licensingrevenues.

Costofrevenuesdecreasedby28.2%toRMB6,179.1million(US$870.3million)forfiscalyear2023fromRMB8,610.7millionfortheprioryear,primarilyduetodecreasedrevenuesharingfeesandcontentcosts,aswellasbandwidthcosts.

Revenuesharingfeesandcontentcostsdecreasedby28.6%toRMB5,378.4million(US$757.5million)forfiscalyear2023fromRMB7,535.7millionfortheprioryear,primarilyduetothedecreaseinrevenuesharingfeesassociatedwiththedeclineinlivestreamingrevenues,aswellaslowercostsrelatedtoe-sportscontentandcontentcreators.

Bandwidthcostsdecreasedby33.0%toRMB360.7million(US$50.8million)forfiscalyear2023fromRMB537.9millionfortheprioryear,primarilyduetoimprovedbandwidthcostmanagement,favorablepricingtermsandcontinuedtechnologyenhancementefforts.

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Grossprofitincreasedby24.7%toRMB815.2million(US$114.8million)forfiscalyear2023fromRMB653.6millionfortheprioryear,primarilyduetodecreasedcostofrevenuesdrivenbylowerrevenuesharingfeesandcontentcosts.Grossmarginwas11.7%forfiscalyear2023,comparedwith7.1%forfiscalyear2022,primarilyduetodecreasedrevenuesharingfeesandcontentcostsasapercentageoftotalnetrevenues.

Researchanddevelopmentexpensesdecreasedby15.5%toRMB578.6million(US$81.5million)forfiscalyear2023fromRMB684.4millionfortheprioryear,primarilyduetodecreasedpersonnel-relatedexpensesandshare-basedcompensationexpenses.

Salesandmarketingexpensesdecreasedby16.9%toRMB440.6million(US$62.1million)forfiscalyear2023fromRMB530.5millionfortheprioryear,primarilyduetodecreasedmarketingandpromotionfees,aswellaspersonnel-relatedexpenses.

Generalandadministrativeexpensesdecreasedby6.0%toRMB320.8million(US$45.2million)forfiscalyear2023fromRMB341.2millionfortheprioryear,primarilyduetodecreasedpersonnel-relatedexpensesandshare-basedcompensationexpenses.

OtherincomewasRMB81.3million(US$11.4million)forfiscalyear2023,comparedwithRMB166.3millionfortheprioryear,primarilyduetolowerindirecttaxrefundsandgovernmentsubsidies.

OperatinglosswasRMB443.6million(US$62.5million)forfiscalyear2023,comparedwithRMB736.2millionfortheprioryear.

Interestandshort-terminvestmentsincomewereRMB479.7million(US$67.6million)forfiscalyear2023,comparedwithRMB298.2millionfortheprioryear,primarilyduetoincreasedinterestratesandimprovedmanagementofdepositproducts.

ImpairmentlossofinvestmentswasRMB225.8million(US$31.8million)forfiscalyear2023,comparedwithRMB55.2millionfortheprioryear,primarilyduetotherecognitionofincreasedimpairmentchargesontheCompany’sinvestments.

NetlossattributabletoHUYAInc.wasRMB204.5million(US$28.8million)forfiscalyear2023,comparedwithRMB547.7millionfortheprioryear.

Non-GAAPnetincomeattributabletoHUYAInc.wasRMB119.1million(US$16.8million)forfiscalyear2023,comparedwithanon-GAAPnetlossattributabletoHUYAInc.ofRMB290.7millionfortheprioryear.

BasicanddilutednetlossperADSwereeachRMB0.84(US$0.12)forfiscalyear2023.BasicanddilutednetlossperADSwereeachRMB2.27forfiscalyear2022.

Non-GAAPbasicanddilutednetincomeperADSwereRMB0.49(US$0.07)andRMB0.48(US$0.07),respectively,forfiscalyear2023.Non-GAAPbasicanddilutednetlossperADSwereeachRMB1.20forfiscalyear2022.

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ShareRepurchaseProgram

OnAugust15,2023,theboardofdirectorsoftheCompanyauthorizedasharerepurchaseprogramunderwhichtheCompanymayrepurchaseuptoUS$100millionofitsADSsorordinarysharesovera12-monthperiod.AsofDecember31,2023,theCompanyhadrepurchased9.2millionADSswithatotalaggregateconsiderationofUS$28.8millionunderthisprogram.

DeclarationofSpecialCashDividend

TheboardofdirectorsoftheCompanyhasdeclaredaspecialcashdividendofUS$0.66perordinaryshare,orUS$0.66perADS,toholdersofordinarysharesandholdersofADSsofrecordasofthecloseofbusinessonMay10,2024,payableinU.S.dollars.Theex-dividenddatewillbeMay9,2024.ThetotalamountofcashtobedistributedforthedividendisexpectedtobeapproximatelyUS$150million,whichwillbefundedbysurpluscashontheCompany'sbalancesheet.ThepaymentdateforholdersofordinarysharesandholdersofADSsisexpectedtobeonoraroundMay24,2024.ThedividendtobepaidtotheCompany’sADSholdersthroughthedepositarybankwillbesubjecttothetermsofthedepositagreement.

DirectorAppointment

Mr.JunhongHuang,ActingCo-ChiefExecutiveOfficerandSeniorVicePresidentoftheCompany,hasrecentlybeenappointedasadirectoroftheCompany,effectiveMarch13,2024.

EarningsWebinar

TheCompany’smanagementwillhostaTencentMeetingWebinarat8:00a.m.U.S.EasternTimeonMarch19,2024(8:00p.m.Beijing/HongKongtimeonMarch19,2024),toreviewanddiscusstheCompany'sbusinessandfinancialperformance.

Forparticipantswhowishtojointhewebinar,pleasecompletetheonlineregistrationinadvanceusingthelinksprovidedbelow.Uponregistration,participantswillreceiveanemailwithwebinaraccessinformation,includingmeetingID,meetinglink,dial-innumbers,andauniqueattendeeIDtojointhewebinar.

ParticipantOnlineRegistration:

ChineseMainland5:

/dw/oiEb0h3kjllr

International:

/dw/oiEb0h3kjllr

Alivewebcastofthewebinarwillbeaccessibleat

,

andareplayofthewebcastwillbeavailablefollowingthesession.

AboutHUYAInc.

HUYAInc.isaleadinggamelivestreamingplatforminChina.Asatechnology-drivencompany,Huyaoffersrichanddynamiccontentacrossgames,e-sports,andotherentertainmentgenreswhereit

。Forthepurposeofthisannouncementonly,ChineseMainlandexcludestheHongKongSpecialAdministrativeRegion,theMacaoSpecialAdministrativeRegionofthePeople’sRepublicofChina,andTaiwan.

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hascultivatedalarge,highlyengaged,interactive,immersivecommunityofgameenthusiasts.Buildingonitssuccessingamelivestreamingandthroughclosecollaborationwithgamecompanies,e-sportstournamentorganizers,broadcastersandtalentagencies,Huyaisexpandingitspresenceinthegameindustry,bothdomesticallyandinternationally.Byprovidingmoreinnovativegame-relatedservices,theCompanyiscommittedtomeetingtheevolvingneedsofgameenthusiasts,contentcreators,andindustrypartners.

UseofNon-GAAPFinancialMeasures

TheunauditedcondensedconsolidatedfinancialinformationispreparedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica("U.S.GAAP"),exceptthattheconsolidatedstatementofchangesinshareholders'equity,consolidatedstatementsofcashflows,andthedetailednoteshavenotbeenpresented.Huyausesnon-GAAPgross(loss)profit,non-GAAPoperatingloss,non-GAAPnet(loss)incomeattributabletoHUYAInc.,non-GAAPnet(loss)incomeattributabletoordinaryshareholders,non-GAAPbasicanddilutednet(loss)incomeperordinaryshares,andnon-GAAPbasicanddilutednet(loss)incomeperADS,whicharenon-GAAPfinancialmeasures.Non-GAAPgross(loss)profitisgross(loss)profitexcludingshare-basedcompensationexpensesallocatedincostofrevenues.Non-GAAPoperatinglossisoperatinglossexcludingshare-basedcompensationexpensesandamortizationofintangibleassetsfrombusinessacquisitions.Non-GAAPnet(loss)incomeattributabletoHUYAInc.isnet(loss)incomeattributabletoHUYAInc.excludingshare-basedcompensationexpenses,gainonfairvaluechangeofinvestmentsanddisposalofequityinvestments,netofincometaxes,impairmentofgoodwillandinvestments,lossonequitymethodinvestment,netofincometaxes,andamortizationofintangibleassetsfrombusinessacquisitions,netofincometaxes,totheextentapplicable.Non-GAAPnet(loss)incomeattributabletoordinaryshareholdersisnet(loss)incomeattributabletoordinaryshareholdersexcludingshare-basedcompensationexpenses,gainonfairvaluechangeofinvestmentsanddisposalofequityinvestments,netofincometaxes,impairmentofgoodwillandinvestments,lossonequitymethodinvestment,netofincometaxes,andamortizationofintangibleassetsfrombusinessacquisitions,netofincometaxes,totheextentapplicable.Non-GAAPbasicanddilutednet(loss)incomeperADSisnon-GAAPnet(loss)incomeattributabletoordinaryshareholdersdividedbyweightedaveragenumberofADSusedinthecalculationofnon-GAAPbasicanddilutednet(loss)incomeperADS.TheCompanybelievesthatseparateanalysisandexclusionoftheimpactof(i)share-basedcompensationexpenses,(ii)gainonfairvaluechangeofinvestmentsanddisposalofequityinvestments,netofincometaxes,(iii)impairmentofgoodwillandinvestments,(iv)lossonequitymethodinvestment,netofincometaxes,and(v)amortizationofintangibleassetsfrombusinessacquisitions(netofincometaxes),addclaritytotheconstituentpartsofitsperformance.TheCompanyreviewsthesenon-GAAPfinancialmeasurestogetherwithGAAPfinancialmeasurestoobtainabetterunderstandingofitsoperatingperformance.Itusesthenon-GAAPfinancialmeasuresforplanning,forecastingandmeasuringresultsagainsttheforecast.TheCompanybelievesthatnon-GAAPfinancialmeasuresrepresentusefulsupplementalinformationforinvestorsandanalyststoassessitsoperatingperformancewithouttheeffectof(i)share-basedcompensationexpenses,and(ii)amortizationofintangibleassetsfrombusinessacquisitions(netofincometaxes),whichhavebeenandwillcontinuetobesignificantrecurringexpensesinitsbusiness,and(iii)gainonfairvaluechangeofinvestmentsanddisposalofequityinvestments,netofincometaxes,(iv)impairmentofgoodwillandinvestments,and(v)lossonequitymethodinvestment,netofincometaxes,whichmayrecurwhenthereisobservablepricechangeinthefuture.However,theuseofnon-GAAPfinancialmeasures

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hasmateriallimitationsasananalyticaltool.Oneofthelimitationsofusingnon-GAAPfinancialmeasuresisthattheydonotincludeallitemsthatimpacttheCompany'snetincomefortheperiod.Inaddition,becausenon-GAAPfinancialmeasuresarenotmeasuredinthesamemannerbyallcompanies,theymaynotbecomparabletoothersimilartitledmeasuresusedbyothercompanies.Inlightoftheforegoinglimitations,youshouldnotconsideranon-GAAPfinancialmeasureinisolationfromorasanalternativetothefinancialmeasurespreparedinaccordancewithU.S.GAAP.

Thepresentationofthesenon-GAAPfinancialmeasuresisnotintendedtobeconsideredinisolationfrom,orasasubstitutefor,thefinancialinformationpreparedandpresentedinaccordancewithU.S.GAAP.Formoreinformationonthesenon-GAAPfinancialmeasures,pleaseseethetablecaptioned

"HUYAInc.UnauditedReconciliationsofGAAPandNon-GAAPResults"attheendofthis

announcement.

ExchangeRateInformation

ThisannouncementcontainstranslationsofcertainRMBamountsintoU.S.dollarsataspecifiedratesolelyfortheconvenienceofthereader.Unlessotherwisenoted,alltranslationsfromRMBtoU.S.dollarsaremadeatarateofRMB7.0999toUS$1.00,thenoonbuyingrateineffectonDecember29,2023,intheH.10statisticalreleaseoftheFederalReserveBoard.TheCompanymakesnorepresentationthattheRenminbiorU.S.dollarsamountsreferredtointhisannouncementcouldhavebeenorcouldbeconvertedintoU.S.dollarsorRenminbi,asthecasemaybe,atanyparticularrateoratall.

SafeHarborStatement

Thisannouncementcontainsforward-lookingstatements.Thesestatementsaremadeunderthe"safeharbor"provisionsoftheU.S.PrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatementscanbeidentifiedbyterminologysuchas"will,""expects,""anticipates,""future,""intends,""plans,""believes,""estimates"andsimilarstatements.Amongotherthings,thequotationsfrommanagementinthisannouncement,aswellasHuya'sstrategicandoperationalplans,containforward-lookingstatements.Huyamayalsomakewrittenororalforward-lookingstatementsinitsperiodicreportstotheU.S.SecuritiesandExchangeCommission("SEC"),initsannualreporttoshareholders,inpressreleasesandotherwrittenmaterialsandinoralstatementsmadebyitsofficers,directorsoremployeestothirdparties.Statementsthatarenothistoricalfacts,includingstatementsaboutHuya'sbeliefsandexpectations,areforward-lookingstatements.Forward-lookingstatementsinvolveinherentrisksanduncertainties.Anumberoffactorscouldcauseactualresultstodiffermateriallyfromthosecontainedinanyforward-lookingstatement,includingbutnotlimitedtothefollowing:Huya'sgoalsandstrategies;Huya'sfuturebusinessdevelopment,resultsofoperationsandfinancialcondition;theexpectedgrowthofthegamelivestreamingmarket;theexpectationregardingtherateatwhichtogainactiveusers,especiallypayingusers;Huya'sabilitytomonetizetheuserbase;Huya’seffortsincomplyingwithapplicabledataprivacyandsecurityregulations;fluctuationsingeneraleconomicandbusinessconditionsinChina;theeconomyinChinaandelsewheregenerally;anyregulatorydevelopmentsinlaws,regulations,rules,policiesorguidelinesapplicabletoHuya;andassumptionsunderlyingorrelatedtoanyoftheforegoing.FurtherinformationregardingtheseandotherrisksisincludedinHuya'sfilingswiththeSEC.Allinformationprovidedinthispressreleaseandintheattachmentsisasofthedateofthispressrelease,andHuyadoesnotundertakeanyobligationtoupdateanyforward-lookingstatement,exceptasrequiredunderapplicablelaw.

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Forinvestorandmediainquiries,pleasecontact:

InChina:

HUYAInc.

InvestorRelations

Tel:+86-20-2290-7829

E-mail:ir@

PiacenteFinancialCommunications

JennyCai

Tel:+86-10-6508-0677

E-mail:huya@

IntheUnitedStates:

PiacenteFinancialCommunications

BrandiPiacente

Tel:+1-212-481-2050

E-mail:huya@

10

RMB

511,973

18,137

6,851,160

-

64,258

148,648

556,435

8,150,611

2,553,293

751,844

456,976

326,765

161,739

379,006

144,120

4,773,743

12,924,354

19,472

323,913

HUYAINC.

UNAUDITEDCONDENSEDCONSOLIDATEDBALANCESHEETS*

(Allamountsinthousands,exceptshare,ADS,persharedataandperADSdata)

AsofDecember31,AsofDecember31,

Assets

Currentassets

Cashandcashequivalents

Restrictedcash

Short-termdeposits

Short-terminvestments

Accountsreceivable,net

Prepaidassetsandamountsduefromrelatedparties,net

Prepaymentsandothercurrentassets,net

Totalcurrentassets

Non-currentassets

Long-termdeposits

Investments