Core Insights - In Q3 2025, Huya's total revenue reached 1.69 billion yuan, marking a nearly nine-quarter high with a year-on-year growth rate of approximately 10% [1] - Live streaming revenue stabilized and rebounded to 1.16 billion yuan, while game-related services, advertising, and other businesses grew rapidly, with this segment's revenue increasing by about 30% to 530 million yuan, accounting for 31.5% of total revenue [1] - The company achieved an operating profit of 6.3 million yuan and a net profit attributable to Huya of 36.3 million yuan under Non-GAAP standards [1] - The total Monthly Active Users (MAU) reached 162 million in Q3 2025 [1] Revenue Breakdown - Live streaming revenue was 1.16 billion yuan, showing signs of recovery [1] - Game-related services, advertising, and other businesses contributed significantly, with revenue from this segment surpassing 30% for the first time since the strategic transformation began two years ago [1] - The sales performance of in-game items for popular games like "Honor of Kings," "Peacekeeper Elite," and "League of Legends" was notably strong, indicating a new growth point for the company [1] User Engagement and Ecosystem - Huya's platform ecosystem and user scale demonstrated resilience, with a steady increase in total MAU [2] - The number of returning top streamers has significantly increased, and Huya is actively expanding its multi-platform ecosystem to enhance its influence across various platforms [2] - The estimated user reach outside the platform has surpassed 100 million, providing substantial growth momentum for item sales and distribution [2] Innovation and Market Strategy - Huya has introduced several innovations in product offerings, including short video sections and gaming assistance tools, to optimize user experience and build an ecosystem [2] - The company successfully hosted nearly 100 licensed events and about 40 self-produced events in Q3 2025, enhancing its event ecosystem [2] - In overseas markets, Huya is deepening its focus on key regions, optimizing product experience and content ecology to improve user engagement and retention [2]