HUYA Inc. Reports Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results and Announces Cash Dividend

Core Insights - HUYA Inc. reported a total net revenue of RMB6.5 billion for fiscal year 2025, reflecting a year-over-year increase of 7.0% [2][15] - The fourth quarter of 2025 saw total net revenues reach RMB1.74 billion, with a year-over-year growth of 16.2%, driven by diversification into game-related services and advertising [2][4] - The company announced a special cash dividend of US$0.135 per ordinary share or ADS for the year 2026, totaling approximately US$31 million [27] Financial Performance - Average monthly active users (MAUs) for Q4 2025 were 160.0 million [3] - Non-GAAP net loss for Q4 2025 was RMB8.4 million, compared to a net income of RMB1.2 million in Q4 2024 [3][13] - Net loss attributable to HUYA Inc. for Q4 2025 was RMB117.6 million, an improvement from RMB172.2 million in Q4 2024 [12][23] Revenue Breakdown - Game-related services, advertising, and other revenues surged by 59.4% to RMB592.5 million in Q4 2025, compared to RMB371.6 million in Q4 2024 [5][4] - Live streaming revenues increased by 1.9% to RMB1,146.0 million in Q4 2025, up from RMB1,124.2 million in Q4 2024 [4][16] - For fiscal year 2025, game-related services, advertising, and other revenues rose by 43.1% to RMB1,908.4 million from RMB1,333.9 million in 2024 [17][23] Cost and Expenses - Cost of revenues for Q4 2025 increased by 12.7% to RMB1,493.8 million, primarily due to higher revenue sharing fees and content costs [6] - Gross profit for Q4 2025 increased by 43.6% to RMB244.7 million, with a gross margin of 14.1% compared to 11.4% in Q4 2024 [7] - General and administrative expenses rose by 55.4% to RMB126.0 million in Q4 2025, largely due to a provision related to a receivable from a broadcaster [9] Strategic Developments - The launch of the mobile game "Goose Goose Duck" in January 2026 marked a significant breakthrough in HUYA's game publishing strategy, achieving the top rank on the Apple App Store free games chart [2] - The company is focusing on expanding its presence in the gaming ecosystem through content-driven publishing strategies [2] Share Repurchase Program - As of December 31, 2025, HUYA had repurchased 22.9 million ADSs under its US$100 million share repurchase program, with an aggregate consideration of US$75.5 million [26]