HUYA(US:HUYA)2024-03-19 11:03Financial Performance - Total net revenues for Q4 2023 were RMB1,529.8 million (US$215.5 million), a decrease of 28.0% from RMB2,119.4 million in Q4 2022[4] - Net loss attributable to HUYA Inc. for Q4 2023 was RMB275.0 million (US$38.7 million), improved from a net loss of RMB562.7 million in Q4 2022[4] - Total net revenues for fiscal year 2023 were RMB6,994.3 million (US$985.1 million), a decline of 24.5% from RMB9,264.4 million in 2022[5] - Net loss attributable to HUYA Inc. for fiscal year 2023 was RMB204.5 million (US$28.8 million), compared to RMB547.7 million in the prior year[8] - Live streaming revenues for Q4 2023 were RMB1,343.5 million (US$189.2 million), down 32.1% from RMB1,975.2 million in Q4 2022[6] - Live streaming revenues for fiscal year 2023 were RMB6,450.8 million (US$908.6 million), down 21.3% from RMB8,195.9 million in the prior year, attributed to a soft macro environment and strategic business adjustments[8] Profitability and Loss - Non-GAAP net income for fiscal year 2023 was RMB119.1 million (US$16.8 million), a significant improvement from a non-GAAP net loss of RMB290.7 million in 2022[5] - Operating loss for fiscal year 2023 was RMB443.6 million (US$62.5 million), an improvement from RMB736.2 million in the prior year[8] - Gross profit increased by 24.7% to RMB815.2 million (US$114.8 million) for fiscal year 2023, with a gross margin of 11.7%, compared to 7.1% in fiscal year 2022[8] - Gross profit for the fourth quarter of 2023 was RMB15,210, compared to a gross loss of RMB267,737 in the fourth quarter of 2022[22] Cash and Assets - The company had cash and cash equivalents totaling RMB9,916.4 million (US$1,396.7 million) as of December 31, 2023, down from RMB10,676.8 million as of September 30, 2023[8] - Cash and cash equivalents decreased from RMB694,091 as of December 31, 2022, to RMB511,973 as of December 31, 2023, a decline of 26.2%[18] - Total current assets decreased by 22.4% from RMB10,500,876 as of December 31, 2022, to RMB8,150,611 as of December 31, 2023[18] - Total liabilities decreased from RMB2,383,609 as of December 31, 2022, to RMB2,299,755 as of December 31, 2023, a reduction of 3.5%[20] - The company’s total shareholders' equity decreased from RMB11,409,391 as of December 31, 2022, to RMB10,624,599 as of December 31, 2023, a decline of 6.9%[20] Shareholder Returns - A special cash dividend of approximately US$150 million was declared for shareholders[5] - A special cash dividend of US$0.66 per ordinary share or ADS has been declared, totaling approximately US$150 million, payable on or around May 24, 2024[9] - The company repurchased US$28.8 million of its shares by the end of 2023[5] - The company authorized a share repurchase program of up to US$100 million, with 9.2 million ADSs repurchased for US$28.8 million as of December 31, 2023[8] Research and Development - Research and development expenses decreased by 15.5% to RMB578.6 million (US$81.5 million) for fiscal year 2023, primarily due to reduced personnel-related expenses[8] - Research and development expenses for the fourth quarter of 2023 were RMB137,001, down from RMB145,149 in the fourth quarter of 2022[22] - Research and development expenses for the twelve months ended December 31, 2023, totaled RMB67,242 million, compared to RMB40,679 million in the previous year, reflecting a growth of 65%[27] Future Outlook - Future outlook indicates a focus on expanding market presence and enhancing product offerings, with continued investment in research and development[30]