GUANGZHOU, China, June 5, 2018 /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, 2018.
First Quarter 2018 Financial and Operating Highlights
- Total net revenues[1] for the first quarter of 2018
increased by 111.5% to RMB843.6
million (US$134.5 million),
from RMB398.9 million in the same
period of 2017.
- Net income attributable to Huya was RMB31.4 million (US$5.0
million) for the first quarter of 2018, compared with a net
loss attributable to Huya of RMB41.7
million in the same period of 2017.
- Non-GAAP net income attributable to Huya[2] was RMB67.6
million (US$10.8 million) for
the first quarter of 2018, compared with a non-GAAP net loss
attributable to Huya of RMB34.7
million in the same period of 2017.
- Average mobile MAUs[3] in the first quarter of 2018
reached 41.5 million, representing an increase of 25.0% from 33.2
million in the first quarter of 2017.
- Average MAUs[4] in the first quarter of 2018
reached 92.9 million, representing an increase of 19.2% from 78.0
million in the first quarter of 2017.
- Total number of paying users[5] in the first quarter of 2018
reached 3.4 million, representing an increase of 34.9% from 2.5
million in the first quarter of 2017.
Mr. Rongjie Dong, Chief Executive
Officer of Huya, commented, "We are pleased to deliver strong
operational and financial results for our first quarter as a public
company, highlighted by 25.0% growth in average mobile MAUs and
19.2% growth in average MAUs, both year-over-year, which fueled our
111.5% rise in revenue compared to the first quarter of 2017.
Through the execution of our content-driven strategy, we have
developed a large, engaged and growing user base that is now over
92 million, with an increasing portion represented by mobile
users.
"We are committed to continuing to develop our wider-ranging
content, advance our technological capabilities and improve user
interfaces to ensure we maintain an industry-leading user
experience. To that end, we recently entered into a strategic
partnership with Tencent, cemented by
significant investment from Tencent.
Through this partnership we look forward to benefitting from access
to Tencent's content resources, particularly in the game and
e-sports areas, which can further expand our active user base,
broaden our content coverage and explore new opportunities for
enhanced monetization capabilities."
Mr. Dong concluded, "Our results build confidence in our
strategy and solidify our leadership position in the game live
streaming market. We are excited about our prospects as we devote
our attention to growing our core business and exploring ways to
further diversify our revenue streams in the future."
Mr. Henry Sha, Chief Financial
Officer of Huya, commented, "Our first quarter results get the year
off to a strong start with rapid revenue growth and improved
profitability. We continue to achieve a higher conversion rate of
paying users driven by our continuous engagement efforts, and
results in the quarter also benefited from our improvement in
operational efficiencies and better monetization capabilities. We
leveraged our revenue growth and operational efficiencies to
deliver net income for the quarter versus a net loss in the
year-ago period. Furthermore, our liquidity position remains strong
as our rapid growth and solid results allowed us to generate net
cash from operating activities. Our performance in the quarter
gives us strong confidence in our growth prospects."
[1] On January 1, 2018, we
adopted ASC 606, "Revenue from Contracts with Customers" using the
modified retrospective method applied to those contracts which were
not completed as of January 1, 2018. Based on our assessment, the
adoption of ASC 606 did not have any material impact on our
consolidated financial statements.
[2] "Non-GAAP net
(loss) income attributable to Huya" is defined as net (loss) income
attributable to Huya before share-based compensation expenses and
fair value loss on derivative liabilities. For more information,
refer to "Use of Non-GAAP Financial Measures" and "Reconciliations
of GAAP and Non-GAAP Results" at the end of this press
release.
[3] Refers to average
monthly active users on the Huya Live mobile app. Average mobile
MAU for any period is calculated by dividing (i) the sum of our
active users on our Huya Live mobile app for each month of such
period, by (ii) the number of months in such period.
[4] Refers to average
monthly active users. Average MAU for any period is calculated by
dividing (i) the sum of active users for each month of such period,
by (ii) the number of months in such period.
[5] Refers to a
registered user that has purchased virtual items on Huya's platform
at least once during the period presented.
|
First Quarter 2018 Financial Results
Total net revenues for the first quarter of 2018
increased by 111.5% to RMB843.6
million (US$134.5 million),
from RMB398.9 million in the same
period of 2017.
Live streaming revenues increased by 107.2% to
RMB792.8 million (US$126.4 million) in the first quarter of 2018,
from RMB382.6 million in the same
period of 2017, primarily due to the increase in spending per
paying user and the increase in the number of paying users on
Huya's platform. The increase in the number of paying users was
primarily driven by increased online social activities and
diversification of content offerings on our platform and our
continuous efforts in converting active users into paying
users.
Advertising and other revenues increased by 212.4% to
RMB50.8 million (US$8.1 million) in the first quarter of 2018,
from RMB16.3 million in the same
period of 2017. This significant increase reflected the Company's
continuous efforts to expand the advertising services business that
was launched in October 2016.
Cost of revenues increased by 86.2% to RMB712.5 million (US$113.6
million) in the first quarter of 2018 from RMB382.8 million in the same period of 2017,
primarily attributable to the increase in revenue sharing fees and
content costs as well as bandwidth costs. Revenue sharing fees and
content costs increased by 111.4% to RMB513.6 million (US$81.9
million) in the first quarter of 2018 from RMB243.0 million in the same period of 2017,
primarily due to the increase in sales of virtual items on Huya's
platform and continued investments in content such as e-sports
tournaments. Bandwidth costs increased by 52.1% to RMB156.1 million (US$24.9
million) in the first quarter of 2018 from RMB102.7 million in same period of 2017,
primarily due to an increase in bandwidth usage as a result of
increased average MAUs on Huya's platform and live streaming video
quality improvement, partially offset by our improved efficiency in
bandwidth utilization and increased deployment of cloud computing
technologies.
Gross profit increased by 712.1% to RMB131.0 million (US$20.9
million) in the first quarter of 2018 from RMB16.1 million in the same period of 2017.
Gross margin increased to 15.5% in the first quarter of 2018
from 4.0% in the same period of 2017, primarily due to Huya's
enhanced monetization efforts and our continued leverage on
economies of scale.
Research and development expenses increased by 21.4% to
RMB51.5 million (US$8.2 million) for the first quarter of 2018
from RMB42.4 million for the first
quarter of 2017, mainly attributable to the increase in the
salaries and welfare of research and development personnel.
Sales and marketing expenses increased by 70.3% to
RMB25.9 million (US$4.1 million) for the first quarter of 2018
from RMB15.2 million for the first
quarter of 2017, mainly attributable to the increase of marketing
and promotion expenses due to enhanced efforts in promoting our
brand name and cooperating with various marketing channels.
General and administrative expenses increased by 251.2%
to RMB35.8 million (US$5.7 million) for the first quarter of 2018
from RMB10.2 million for the first
quarter of 2017, mainly due to the increase in share-based
compensation expenses related to the share awards newly granted, as
well as salaries and welfare of management personnel.
Operating income was RMB28.2
million (US$4.5 million) for
the first quarter of 2018, compared with an operating loss of
RMB42.2 million in the same period of
2017.
Non-GAAP operating income, which excludes share-based
compensation expenses, was RMB52.5
million (US$8.4 million) for
the first quarter of 2018, compared with a non-GAAP operating loss
of RMB35.2 million in the same period
of 2017.
Net income attributable to HUYA Inc. was
RMB31.4 million (US$5.0 million) for the first quarter of 2018,
compared with a net loss attributable to HUYA Inc. of RMB41.7 million in the same period of 2017.
Non-GAAP net income attributable to HUYA Inc. in the
first quarter of 2018, which excludes share-based compensation
expenses and fair value loss on derivative liabilities related to
the Company's preferred shares, the conversion features of which
are required to be bifurcated and accounted for as derivative
liabilities in the first quarter of 2018, was RMB67.6 million (US$10.8
million), compared with a non-GAAP net loss attributable to
HUYA Inc. of RMB34.7 million in the
same period of 2017.
Diluted net loss per ordinary share was RMB4.96 (US$0.79)
for the first quarter of 2018, compared with diluted net loss per
ordinary share of RMB0.42 for the
same period of 2017.
Non-GAAP diluted net income per ordinary share was
RMB0.35 (US$0.06) for the first quarter of 2018, compared
with non-GAAP diluted net loss per ordinary share of RMB0.35 for the same period of 2017.
Balance Sheet and Cash Flows
As of March 31, 2018, the Company
had cash, cash equivalents and short-term deposits of RMB4,071.6 million (US$649.1 million), compared with RMB1,035.8 million as of March 31, 2017. The increase was primarily due to
funds received from our Series B financing.
Net cash provided by operating activities was RMB182.4 million (US$29.1
million) for the first quarter of 2018, compared with net
cash used in operating activities of RMB138.3 million in the same period of 2017.
Recent Development
In May, Huya successfully completed its initial public offering
("IPO") of 17,250,000 American depositary shares ("ADSs") at a
price of US$12.0 per ADS, including
2,250,000 ADSs that underwriters exercised their over-allotment
options in full. Each ADS represents one Class A ordinary share.
The Company received a total of approximately US$189.0 million of net proceeds from the IPO,
after deducting the underwriting discounts and commissions and
estimated offering expenses payable by the Company.
Business Outlook
For the second quarter of 2018, Huya currently expects total net
revenues to be in the range of RMB970
million to RMB1,000 million,
representing a year-over-year growth of 110.2% and 116.7%. In
addition, the Company expects to have a fair value loss on
derivative liabilities of preferred shares amounting to
approximately RMB2.3 billion due to
an increase in our enterprise value indicated by the price of the
initial public offering, which will have impact on the net income
attributable to HUYA Inc. in the second quarter of 2018. This
forecast reflects our current and preliminary views on the market
and operational conditions, which are subject to change.
Conference Call
The Company's management will host an earnings conference call
at 8:00 PM U.S. Eastern Time on
June 5, 2018 (8:00 AM Beijing/Hong
Kong time on June 6,
2018).
Dial-in details for the earnings conference call are as
follows:
United States (toll
free):
|
+1-888-317-6003
|
International:
|
+1-412-317-6061
|
Hong Kong (toll
free):
|
800-963-976
|
Hong Kong:
|
+852-5808-1995
|
China (toll
free)
|
400-120-6115
|
Elite Entry
Number:
|
5146319
|
Participants should dial-in at least 10 minutes before the
scheduled start time and ask to be connected to the call for "HUYA
Inc" with the Elite Entry number as set forth above.
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website
at http://ir.huya.com.
A replay of the conference call will be accessible approximately
one hour after the conclusion of the live call until June 12, 2018, by dialing the following telephone
numbers:
United States (toll
free):
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Replay Access
Code:
|
10120763
|
About HUYA Inc.
HUYA Inc. ("Huya" or the "Company") 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.
For more information, please visit: http://ir.huya.com.
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 (deficit),
consolidated statements of cash flows, and the detailed notes have
not been presented. Huya uses non-GAAP operating (loss) income,
non-GAAP net (loss) income attributable to HUYA Inc.,
non-GAAP net (loss) income attributable to ordinary shareholders,
and non-GAAP basic and diluted net (loss) income per ordinary
share, which are non-GAAP financial measures. Non-GAAP operating
(loss) income is operating (loss) income excluding share-based
compensation expenses. Non-GAAP net (loss) income attributable to
HUYA Inc. is net (loss) income attributable to HUYA Inc. excluding
share-based compensation expenses and fair value loss on derivative
liabilities. Non-GAAP net (loss) income attributable to ordinary
shareholders is net loss attributable to ordinary shareholders
excluding share-based compensation expenses, fair value loss on
derivative liabilities and deemed dividend to Series A redeemable
convertible preferred shareholders. Non-GAAP basic and diluted net
(loss) income per ordinary share is non-GAAP net (loss) income
attributable to ordinary shareholders divided by weighted average
number of ordinary shares used in the calculation of non-GAAP basic
and diluted net (loss) income per ordinary share. The Company
believes that separate analysis and exclusion of the non-cash
impact of (i) share-based compensation expenses, (ii) fair value
loss on derivative liabilities and (iii) deemed dividend to Series
A redeemable convertible preferred shareholders adds 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 non-cash effect of (i) share-based compensation expenses, which
have been and will continue to be significant recurring expenses in
its business, (ii) fair value loss on derivative liabilities, which
may recur in the future, and (iii) deemed dividend to Series A
redeemable convertible preferred shareholders, which may recur when
Huya and its affiliates enter into equity transactions. 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 (loss) 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" near the end of this release.
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 RMB
6.2726 to US$1.00, the rate in
effect as of March 30, 2018 as
certified for customs purposes by the Federal Reserve Bank of
New York.
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 oper-ational 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. For-ward-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 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 obli-gation 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: +86-20-8212-0565
E-mail: ir@huya.com
The Piacente Group, Inc.
Ross Warner
Tel: +86-10-5730-6202
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 and per share data)
|
|
|
As
of
|
|
As
of
|
|
|
December
31,
|
March
31,
|
|
|
2017
|
|
2018
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
442,532
|
|
706,391
|
|
112,615
|
|
Short-term
deposits
|
593,241
|
|
3,365,235
|
|
536,498
|
|
Accounts receivable,
net
|
29,847
|
|
32,803
|
|
5,230
|
|
Amounts due from
related parties
|
113,311
|
|
105,461
|
|
16,813
|
|
Prepayments and other
current assets
|
71,376
|
|
84,983
|
|
13,548
|
|
|
|
|
|
|
|
Total current
assets
|
1,250,307
|
|
4,294,873
|
|
684,704
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Deferred tax
assets
|
-
|
|
4,464
|
|
712
|
|
Investments
|
10,299
|
|
375
|
|
60
|
|
Property and
equipment, net
|
32,315
|
|
38,324
|
|
6,110
|
|
Intangible assets,
net
|
5,620
|
|
5,272
|
|
840
|
|
Other non-current
assets
|
2,000
|
|
33,200
|
|
5,293
|
|
|
|
|
|
|
|
Total non-current
assets
|
50,234
|
|
81,635
|
|
13,015
|
|
|
|
|
|
|
Total
assets
|
1,300,541
|
|
4,376,508
|
|
697,719
|
|
|
|
|
|
|
Liabilities,
mezzanine equity and shareholders' equity (deficit)
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable
|
5,796
|
|
263
|
|
42
|
|
Deferred
revenue(2)
|
243,419
|
|
270,946
|
|
43,195
|
|
Advances from
customers
|
3,962
|
|
6,491
|
|
1,035
|
|
Accrued liabilities
and other current liabilities
|
424,078
|
|
490,099
|
|
78,133
|
|
Derivative
liabilities
|
-
|
|
899,116
|
|
143,340
|
|
Amounts due to
related parties
|
8,395
|
|
38,089
|
|
6,072
|
|
|
|
|
|
|
|
Total current
liabilities
|
685,650
|
|
1,705,004
|
|
271,817
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Deferred
revenue(2)
|
45,024
|
|
48,649
|
|
7,756
|
|
|
|
|
|
|
|
Total
liabilities
|
730,674
|
|
1,753,653
|
|
279,573
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUYA
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
|
(All amounts in
thousands, except share and per share data)
|
|
|
As
of
|
|
As
of
|
|
December
31,
|
March
31,
|
|
|
2017
|
|
2018
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mezzanine
equity
|
|
|
|
|
|
|
Series A-1 redeemable
convertible preferred shares ("Preferred Shares") (US$0.0001 par
value; 17,647,058 and 17,647,058 shares authorized, issued and
outstanding as of December 31, 2017 and March 31, 2018,
respectively)
|
407,734
|
|
340,393
|
|
54,267
|
|
Series A-2 Preferred
Shares (US$0.0001 par value; 4,411,765 and 4,411,765 shares
authorized, issued and outstanding as of December 31, 2017 and
March 31, 2018, respectively)
|
101,934
|
|
85,098
|
|
13,567
|
|
Series B-2 Preferred
Shares (US$0.0001 par value; nil and 64,488,235 shares authorized,
issued and outstanding as of December 31, 2017 and March 31, 2018,
respectively)
|
-
|
|
2,603,946
|
|
415,130
|
|
|
|
|
|
|
|
Total mezzanine
equity
|
509,668
|
|
3,029,437
|
|
482,964
|
|
|
|
|
|
|
Shareholders'
equity (deficit)
|
|
|
|
|
|
|
Class A ordinary
shares (US$0.0001 par value; 249,957,163 Class A ordinary shares
authorized as of December 31, 2017 and March 31, 2018,
respectively; 992,456 and 9,374,809 Class A ordinary shares issued
and outstanding as of December 31, 2017 and March 31, 2018,
respectively)
|
1
|
|
6
|
|
1
|
|
Class B ordinary
shares (US$0.0001 par value; 99,007,544 Class B ordinary shares
authorized as of December 31, 2017 and March 31, 2018,
respectively; 99,007,544 and 90,625,191 Class B ordinary shares
issued and outstanding as of December 31, 2017 and March 31, 2018,
respectively)
|
66
|
|
61
|
|
10
|
|
Additional paid-in
capital
|
140,792
|
|
-
|
|
-
|
|
Accumulated
deficit
|
(80,968)
|
|
(411,978)
|
|
(65,679)
|
|
Accumulated other
comprehensive income
|
308
|
|
5,329
|
|
850
|
|
|
|
|
|
|
|
Total
shareholders' equity (deficit)
|
60,199
|
|
(406,582)
|
|
(64,818)
|
|
|
|
|
|
|
Total liabilities,
mezzanine equity and shareholders' equity (deficit)
|
1,300,541
|
|
4,376,508
|
|
697,719
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUYA
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF
|
COMPREHENSIVE
(LOSS) INCOME
|
(All amounts in
thousands, except share and per share data)
|
|
For the three months ended March 31,
|
|
2017
|
|
2018
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
Net
revenues(2)
|
|
|
|
|
|
Live
streaming
|
382,641
|
|
792,784
|
|
126,388
|
Advertising and
others
|
16,258
|
|
50,798
|
|
8,099
|
|
|
|
|
|
|
Total net
revenues
|
398,899
|
|
843,582
|
|
134,487
|
|
|
|
|
|
|
Cost of revenues
(1)
|
(382,762)
|
|
(712,533)
|
|
(113,594)
|
|
|
|
|
|
|
Gross
profit
|
16,137
|
|
131,049
|
|
20,893
|
|
|
|
|
|
|
Operating expenses
(1)
|
|
|
|
|
|
Research and
development expenses
|
(42,392)
|
|
(51,458)
|
|
(8,204)
|
Sales and marketing
expenses
|
(15,231)
|
|
(25,940)
|
|
(4,135)
|
General and
administrative expenses
|
(10,190)
|
|
(35,783)
|
|
(5,705)
|
|
|
|
|
|
|
Total operating
expenses
|
(67,813)
|
|
(113,181)
|
|
(18,044)
|
|
|
|
|
|
|
Other
income
|
9,521
|
|
10,283
|
|
1,639
|
|
|
|
|
|
|
Operating (loss)
income
|
(42,155)
|
|
28,151
|
|
4,488
|
|
|
|
|
|
|
Interest
income
|
476
|
|
10,584
|
|
1,687
|
Fair value loss on
derivative liabilities
|
-
|
|
(11,868)
|
|
(1,892)
|
|
|
|
|
|
|
(Loss) income
before income tax benefits
|
(41,679)
|
|
26,867
|
|
4,283
|
|
|
|
|
|
|
Income tax
benefits
|
-
|
|
4,464
|
|
712
|
|
|
|
|
|
|
(Loss) income
before share of income in an equity method investment, net of
income taxes
|
(41,679)
|
|
31,331
|
|
4,995
|
|
|
|
|
|
|
Share of income in an
equity method investment, net of income taxes
|
-
|
|
76
|
|
12
|
|
|
|
|
|
|
Net (loss) income
attributable to HUYA Inc.
|
(41,679)
|
|
31,407
|
|
5,007
|
|
|
|
|
|
|
Accretion to
Preferred Shares redemption value
|
-
|
|
(30,581)
|
|
(4,876)
|
Deemed dividend to
Series A Preferred Shareholders
|
-
|
|
(496,995)
|
|
(79,233)
|
|
|
|
|
|
|
Net loss
attributable to ordinary shareholders
|
(41,679)
|
|
(496,169)
|
|
(79,102)
|
|
|
|
HUYA
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF
|
COMPREHENSIVE
(LOSS) INCOME (CONTINUED)
|
(All amounts in
thousands, except share and per share data)
|
|
For the three
months ended March 31,
|
|
2017
|
|
2018
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
Net (loss)
income
|
(41,679)
|
|
31,407
|
|
5,007
|
Other comprehensive
income:
|
|
|
|
|
|
Foreign currency
translation adjustment, net of nil tax
|
-
|
|
5,021
|
|
800
|
|
|
|
|
|
|
Total
comprehensive (loss) income attributable to HUYA
Inc.
|
(41,679)
|
|
36,428
|
|
5,807
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per
ordinary share
|
|
|
|
|
|
Basic and
diluted
|
(0.42)
|
|
(4.96)
|
|
(0.79)
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in calculating net loss per ordinary
share
|
|
|
|
|
|
Basic and
diluted
|
100,000,000
|
|
100,000,000
|
|
100,000,000
|
|
|
|
|
|
|
(1) Share-based
compensation was allocated in cost of revenues and operating
expenses as follows:
|
|
|
|
|
|
|
|
For the three
months ended March 31,
|
|
2017
|
|
2018
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
Cost of
revenues
|
1,243
|
|
255
|
|
41
|
Research and
development expenses
|
3,055
|
|
1,790
|
|
285
|
Sales and marketing
expenses
|
204
|
|
418
|
|
67
|
General and
administrative expenses
|
2,489
|
|
21,904
|
|
3,492
|
|
|
|
|
|
|
(2) On January 1,
2018, we adopted ASC 606, "Revenue from Contracts with Customers"
using the modified retrospective method applied to those contracts
which were not completed as of January 1, 2018. Based on our
assessment, the adoption of ASC 606 did not have any material
impact on our consolidated financial statements.
|
|
|
|
|
|
|
|
|
|
HUYA
INC.
|
Reconciliations of
GAAP And Non-GAAP Results
|
(All amounts in
thousands, except share and per share data)
|
|
For the three
months ended March 31,
|
|
2017
|
|
2018
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
Operating (loss)
income
|
(42,155)
|
|
28,151
|
|
4,488
|
Share-based
compensation expenses
|
6,991
|
|
24,367
|
|
3,885
|
Non-GAAP operating
(loss) income
|
(35,164)
|
|
52,518
|
|
8,373
|
|
|
|
|
|
|
Net (loss) income
attributable to HUYA Inc.
|
(41,679)
|
|
31,407
|
|
5,007
|
Fair value loss on
derivative liabilities
|
-
|
|
11,868
|
|
1,892
|
Share-based compensation
expenses
|
6,991
|
|
24,367
|
|
3,885
|
Non-GAAP net
(loss) income attributable to HUYA Inc.
|
(34,688)
|
|
67,642
|
|
10,784
|
|
|
|
|
|
|
Net loss attributable
to ordinary shareholders
|
(41,679)
|
|
(496,169)
|
|
(79,102)
|
Fair value loss on
derivative liabilities
|
-
|
|
11,868
|
|
1,892
|
Share-based
compensation expenses
|
6,991
|
|
24,367
|
|
3,885
|
Deemed dividend to
Series A Preferred Shareholders
|
-
|
|
496,995
|
|
79,233
|
Non-GAAP net
(loss) income attributable to ordinary shareholders
|
(34,688)
|
|
37,061
|
|
5,908
|
|
|
|
|
|
|
Non-GAAP net
(loss) income per ordinary share
|
|
|
|
|
|
Basic
|
(0.35)
|
|
0.37
|
|
0.06
|
Diluted
|
(0.35)
|
|
0.35
|
|
0.06
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in calculating non-GAAP net (loss)
income per ordinary share
|
|
|
|
|
|
Basic
|
100,000,000
|
|
100,000,000
|
|
100,000,000
|
Diluted
|
100,000,000
|
|
105,381,605
|
|
105,381,605
|
View original
content:http://www.prnewswire.com/news-releases/huya-reports-first-quarter-2018-unaudited-financial-results-300660281.html
SOURCE HUYA Inc.