Huya Inc Stock Price, News & Analysis

HUYA Inc. (NYSE: HUYA), a leading game live streaming platform in China, will announce its fourth quarter and fiscal year 2020 unaudited financial results on March 23, 2021, before the U.S. markets open. An earnings conference call is scheduled for 7:00 a.m. ET on the same day. Participants must register online at least 20 minutes prior to the call for access details. A live and archived webcast of the call will be available on the Company’s investor relations website.

HUYA Inc. (NYSE: HUYA), a top game live streaming platform in China, announced the appointment of Mr. Cheng Yun Ming Matthew as a director on its board, effective February 25, 2021. He replaces Mr. Zhi Cheng, who has stepped down. Mr. Cheng, a corporate vice president at Tencent, also takes on the role of chairman of the compensation committee. He has extensive experience in various financial roles and holds a degree in accountancy. This leadership change is expected to enhance Huya's strategic direction and strengthen its position in the competitive gaming market.

HUYA reported a strong performance in Q3 2020, with total net revenues reaching RMB2,814.8 million (US$414.6 million), a 24.3% increase year-over-year. Net income skyrocketed 105.3% to RMB253.0 million (US$37.3 million). Average monthly active users (MAUs) grew to 172.9 million, up 18.3%. Live streaming revenues also surged by 23.2%. Operating income increased by 249% to RMB222.9 million (US$32.8 million). The company is optimistic about a merger with DouYu, which could yield significant synergies. Additionally, HUYA announced a planned cash dividend of US$200 million upon merger closure.

HUYA Inc. and DouYu International Holdings Limited have entered a merger agreement to combine their operations, with Huya acquiring all outstanding shares of DouYu through a stock-for-stock transaction. Each DouYu share will convert into 7.30 Huya Class A Shares, with shareholders of both companies expected to hold approximately 50% of the combined entity. Tencent will contribute $500 million worth of its Penguin e-Sports business to DouYu as part of the deal. The merger is anticipated to close in the first half of 2021, subject to shareholder approval from DouYu's shareholders.

HUYA Inc. announced the formation of a special committee by its Board of Directors to evaluate a non-binding proposal from Tencent Holdings. The committee, led by independent directors Hongqiang Zhao and Tsang Wah Kwong, has hired Citigroup Global Markets as a financial advisor and Skadden, Arps, Slate, Meagher & Flom as legal counsel. Importantly, the Board advised shareholders that no decisions have been made regarding the proposal, and there is no guarantee that an agreement will be reached. The company remains committed to providing updates as required by law.

HUYA Inc. reported strong financial results for Q2 2020, with total net revenues increasing by 34.2% to RMB2,697.2 million (US$381.8 million). Net income rose 86.2% to RMB226.8 million (US$32.1 million). The company saw a significant increase in average monthly active users (MAUs), reaching 75.6 million mobile MAUs and 168.5 million platform MAUs. Gross profit surged 71.3% to RMB575.0 million (US$81.4 million), with an operating margin improvement to 7.5%.

HUYA, a leading game live streaming platform in China, announced on August 10, 2020, that it received a preliminary non-binding proposal from Tencent for a stock-for-stock merger with DouYu. Tencent, which owns about 36.9% of Huya, intends to acquire all outstanding DouYu shares in exchange for newly issued Huya Class A shares. The transaction is supported by Tencent as both a Huya and DouYu shareholder. While the Huya Board is evaluating the proposal, no definitive agreement has been reached, and there are no assurances the merger will occur.

HUYA Inc. will report its second quarter 2020 unaudited financial results on August 11, 2020, before U.S. market opens. The company will host an earnings call at 7:00 a.m. ET on the same day, with participants required to register online beforehand. A live and archived webcast will be available on Huya's investor relations website. Huya is a leading game live streaming platform in China, known for engaging its young generation through interactive esports content and extending its offerings into other entertainment genres.