HUYA(HUYA) Prnewswire·2025-03-18 08:10Core Insights - Huya Inc. reported a significant increase in revenues from game-related services, advertising, and in-game item sales, which rose by 145.4% year-over-year to RMB1.33 billion in 2024, accounting for 21.9% of total net revenues, up from 7.8% in 2023 [2][23] - The company achieved a turnaround in profitability, with positive net cash provided by operating activities for the full year 2024, contrasting with a net loss in 2023 [2][34] - Huya's strategic transformation and new game launches contributed to improved overall profitability, with a gross margin of 11.4% in Q4 2024, significantly higher than 1.0% in Q4 2023 [12][22] Financial Performance - Total net revenues for Q4 2024 were RMB1,495.8 million (US$204.9 million), a slight decrease from RMB1,529.8 million in Q4 2023 [6][16] - Live streaming revenues for Q4 2024 were RMB1,124.2 million (US$154.0 million), down from RMB1,343.5 million in Q4 2023, primarily due to macroeconomic challenges [7][22] - Game-related services, advertising, and other revenues for Q4 2024 were RMB371.6 million (US$50.9 million), compared to RMB186.3 million in Q4 2023 [8][16] Cost Management - Cost of revenues decreased by 12.5% to RMB1,325.4 million (US$181.6 million) in Q4 2024, down from RMB1,514.6 million in Q4 2023, driven by reduced revenue sharing fees and content costs [9][24] - Total operating expenses were reduced by 23.8% year-over-year, contributing to improved profitability [5][30] - Research and development expenses decreased by 10.0% to RMB123.3 million (US$16.9 million) in Q4 2024, while sales and marketing expenses fell by 44.6% to RMB62.8 million (US$8.6 million) [13][14] Shareholder Returns - The company announced a 2025-2027 Dividend Plan, expecting to distribute a total of no less than US$400 million to shareholders over the next three years [5][35] - The 2025 Cash Dividend is expected to be approximately US$340 million, with a payment date around June 30, 2025 [37][38] - The share repurchase program was extended to March 31, 2026, with US$63.6 million repurchased as of December 31, 2024 [40]