REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of each class |
Trading symbol(s) |
Name of each exchange on which registered | ||
representing one Class A ordinary share, par value US$0.0001 per share |
||||
par value US$0.0001 per share* |
(1)* |
t for trading, but only in connection with the listing on the New York Stock Exchange of our American depositary shares, each representing one Class A ordinary share. |
☒ |
Accelerated filer |
☐ |
Non-accelerated filer |
☐ | ||||||
Emerging growth company |
International Financial Reporting Standards as issued |
Other ☐ | |||||||
by the International Accounting Standards Board |
☐ |
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2 |
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3 |
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ITEM 1. |
3 |
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ITEM 2. |
3 |
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ITEM 3. |
3 |
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ITEM 4. |
66 |
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ITEM 4.A. |
97 |
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ITEM 5. |
97 |
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ITEM 6. |
110 |
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ITEM 7. |
120 |
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ITEM 8. |
122 |
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ITEM 9. |
123 |
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ITEM 10. |
124 |
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ITEM 11. |
141 |
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ITEM 12. |
142 |
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143 |
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ITEM 13. |
143 |
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ITEM 14. |
143 |
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ITEM 15. |
144 |
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ITEM 16.A. |
145 |
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ITEM 16.B. |
145 |
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ITEM 16.C. |
145 |
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ITEM 16.D. |
145 |
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ITEM 16.E. |
146 |
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ITEM 16.F. |
146 |
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ITEM 16.G. |
146 |
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ITEM 16.H. |
146 |
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ITEM 16.I. |
146 |
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147 |
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ITEM 17. |
147 |
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ITEM 18. |
147 |
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ITEM 19. |
147 |
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150 |
• | “ADSs” refers to our American depositary shares, each of which represents one Class A ordinary share; |
• | “China” or “PRC” refers to the People’s Republic of China, excluding, for the purpose of this annual report only, Hong Kong, Macau and Taiwan; |
• | “Class A ordinary shares” refers to our Class A ordinary shares of par value US$0.0001 per share; |
• | “Class B ordinary shares” refers to our Class B ordinary shares of par value US$0.0001 per share; |
• | “JOYY” refers to JOYY Inc. (Nasdaq: YY), formerly known as YY Inc.; |
• | “the variable interest entity, ” “the PRC variable interest entity,” or “the VIE” refers to Guangzhou Huya Information Technology Co., Ltd., or Guangzhou Huya; |
• | “MAUs”, or “monthly active users” for any period refers to the sum of users who accessed our platform through our mobile apps, our websites, our PC clients, or YY Client, a PC client offered by JOYY (before early January 2021 when we ceased offering content through YY Client), at least once during such relevant period. The calculations of our MAUs may not reflect the actual number of people who accessed our platform, such as it is possible that some people may use more than one device, or some people may share one device, or some people may access our platform through multiple channels; |
• | “mobile MAUs” for any period refers to the sum of users who accessed our platform through our mobile apps at least once during such relevant period. The calculations of our mobile MAUs may not reflect the actual number of people who accessed our platform, such as it is possible that some people may use more than one device, or some people may share one device, or some people may access our platform through multiple channels. Average mobile MAUs for any period is calculated by dividing (i) the sum of our mobile MAUs for each month during such relevant period, by (ii) the number of months during such relevant period; |
• | “paying users” for any period refers to the sum of user accounts that purchased various products and services on our platform at least once during such relevant period. A paying user is not necessarily a unique user, however, as a unique user may set up multiple paying user accounts on our platform; |
• | “RMB” and “Renminbi” refer to the legal currency of China; |
• | “shares” or “ordinary shares” refers to our Class A and Class B ordinary shares, par value $0.0001 per share; |
• | “Tencent” refers to Tencent Holdings Limited and its subsidiaries; |
• | “US$,” “U.S. dollars,” “$,” and “dollars” refer to the legal currency of the United States; and |
• | “we,” “us,” “our company,” “our” and “Huya” refer to HUYA Inc., a Cayman Islands company, and its subsidiaries, and, in the context of describing our operations and combined and consolidated financial information, also include the VIE and its subsidiaries in the PRC. |
• | our goals and strategies; |
• | our future business development, financial conditions and results of operations; |
• | the expected growth of the live streaming market in China; |
• | our expectations regarding demand for and market acceptance of our products and services; |
• | our ability to retain and increase the number of users, broadcasters, talent agencies and advertisers, and expand our product and service offerings; |
• | competition in our industry; |
• | general economic and business condition in China and elsewhere; |
• | our ability to monetize the user base; |
• | relevant laws, government policies, regulations, rules and guidelines relating to our industry; |
• | the impact of the COVID-19 pandemic to our business operations and the economy in China and elsewhere generally; and |
• | assumptions underlying or related to any of the foregoing. |
ITEM 1. |
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS |
ITEM 2. |
OFFER STATISTICS AND EXPECTED TIMETABLE |
ITEM 3. |
KEY INFORMATION |
Tax calculation (1) |
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Hypothetical pre-tax earnings (2) |
100.00 | % | ||
Tax on earnings at statutory rate of 25% (3) |
(25.00 | )% | ||
Net earnings available for distribution |
75.00 | % | ||
Withholding tax at standard rate of 10% (4) |
(7.50 | )% | ||
Net distribution to Parent/Shareholders |
67.50 | % | ||
(1) | For purposes of this example, the tax calculation has been simplified. The hypothetical book pre-tax earnings amount, not considering timing differences, is assumed to equal taxable income in China. |
(2) | Under the terms of VIE agreements, our PRC subsidiaries may charge the VIE and the VIE’s subsidiaries for services provided to the VIE and the VIE’s subsidiaries. These service fees shall be recognized as expenses of the VIE and the VIE’s subsidiaries, with a corresponding amount as service income by our PRC subsidiaries and eliminate in consolidation. For income tax purposes, our PRC subsidiaries and the VIE and the VIE’s subsidiaries file income tax returns on a separate company basis. The service fees paid are recognized as a tax deduction by the VIE and the VIE’s subsidiaries and as income by our PRC subsidiaries and are tax neutral. |
(3) | Certain of our subsidiaries and the VIE qualifies for a 15% preferential income tax rate in China. However, such rate is subject to qualification, is temporary in nature, and may not be available in a future period when distributions are paid. For purposes of this hypothetical example, the table above reflects a maximum tax scenario under which the full statutory rate would be effective. |
(4) | The PRC’s Enterprise Income Tax Law imposes a withholding income tax of 10% on dividends distributed by a foreign invested enterprise, or Foreign Invested Enterprise (“FIE”) to its immediate holding company outside of Mainland China. A lower withholding income tax rate of 5% is applied if the FIE’s immediate holding company is registered in Hong Kong or other jurisdictions that have a tax treaty arrangement with Mainland China, subject to a qualification review at the time of the distribution. For purposes of this hypothetical example, the table above assumes a maximum tax scenario under which the full withholding tax would be applied. |
For the year ended December 31, |
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2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands, except for share, ADS, per share and per ADS data) |
||||||||||||||||||||||||
Selected Consolidated Statements of Comprehensive (Loss) Income: |
||||||||||||||||||||||||
Net revenues: |
||||||||||||||||||||||||
Live streaming |
2,069,536 | 4,442,845 | 7,976,214 | 10,311,624 | 10,186,204 | 1,598,438 | ||||||||||||||||||
Advertising and others |
115,280 | 220,595 | 398,287 | 602,750 | 1,165,242 | 182,852 | ||||||||||||||||||
Total net revenues |
2,184,816 | 4,663,440 | 8,374,501 | 10,914,374 | 11,351,446 | 1,781,290 | ||||||||||||||||||
Cost of revenues (1) |
(1,929,864 | ) | (3,933,647 | ) | (6,892,579 | ) | (8,646,308 | ) | (9,751,160 | ) | (1,530,170 | ) | ||||||||||||
Gross profit |
254,952 | 729,793 | 1,481,922 | 2,268,066 | 1,600,286 | 251,120 | ||||||||||||||||||
Operating expenses: |
||||||||||||||||||||||||
Research and development expenses (1) |
(170,160 | ) | (265,152 | ) | (508,714 | ) | (734,261 | ) | (818,882 | ) | (128,500 | ) | ||||||||||||
Sales and marketing expenses (1) |
(87,292 | ) | (189,207 | ) | (438,396 | ) | (558,012 | ) | (759,507 | ) | (119,183 | ) | ||||||||||||
General and administrative expenses (1) |
(101,995 | ) | (287,710 | ) | (352,824 | ) | (445,006 | ) | (326,772 | ) | (51,278 | ) | ||||||||||||
Total operating expenses |
(359,447 | ) | (742,069 | ) | (1,299,934 | ) | (1,737,279 | ) | (1,905,161 | ) | (298,961 | ) | ||||||||||||
Other income |
9,629 | 38,938 | 79,390 | 194,169 | 274,704 | 43,107 | ||||||||||||||||||
For the year ended December 31, |
||||||||||||||||||||||||
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands, except for share, ADS, per share and per ADS data) |
||||||||||||||||||||||||
Operating (loss) income |
(94,866 | ) | 26,662 | 261,378 | 724,956 | (30,171 | ) | (4,734 | ) | |||||||||||||||
Interest and short-term investments income |
14,049 | 156,549 | 304,491 | 313,366 | 247,009 | 38,761 | ||||||||||||||||||
Fair value loss on derivative liabilities |
— | (2,285,223 | ) | — | — | — | — | |||||||||||||||||
Gain on fair value change of investment |
— | — | — | 2,160 | 44,161 | 6,930 | ||||||||||||||||||
Other non-operating expenses |
— | — | — | (10,010 | ) | — | — | |||||||||||||||||
Foreign currency exchange gains (losses), net |
— | 51 | 1,157 | 2,056 | (1,480 | ) | (232 | ) | ||||||||||||||||
(Loss) income before income tax benefits (expenses) |
(80,817 | ) | (2,101,961 | ) | 567,026 | 1,032,528 | 259,519 | 40,725 | ||||||||||||||||
Income tax benefits (expenses) |
— | 50,943 | (96,078 | ) | (176,784 | ) | (55,227 | ) | (8,666 | ) | ||||||||||||||
(Loss) income before share of (loss) income in equity method investments, net of income taxes |
(80,817 | ) | (2,051,018 | ) | 470,948 | 855,744 | 204,292 | 32,059 | ||||||||||||||||
Share of (loss) income in equity method investments, net of income taxes |
(151 | ) | 113,329 | (2,775 | ) | 28,414 | 379,207 | 59,506 | ||||||||||||||||
Net (loss) income attributable to HUYA Inc. |
(80,968 | ) | (1,937,689 | ) | 468,173 | 884,158 | 583,499 | 91,565 | ||||||||||||||||
Accretion to Series A redeemable convertible preferred shares |
(19,842 | ) | (71,628 | ) | — | — | — | — | ||||||||||||||||
Deemed dividend to series A preferred shareholders |
— | (496,995 | ) | — | — | — | — | |||||||||||||||||
Net (loss) income attributable to ordinary shareholders |
(100,810 | ) | (2,506,312 | ) | 468,173 | 884,158 | 583,499 | 91,565 | ||||||||||||||||
Net (loss) income |
(80,968 | ) | (1,937,689 | ) | 468,173 | 884,158 | 583,499 | 91,565 | ||||||||||||||||
Foreign currency translation adjustments, net of nil tax |
308 | 366,259 | 157,568 | (451,873 | ) | (148,562 | ) | (23,313 | ) | |||||||||||||||
Total comprehensive (loss) income attributable to HUYA Inc. |
(80,660 | ) | (1,571,430 | ) | 625,741 | 432,285 | 434,937 | 68,252 | ||||||||||||||||
Net (loss) income per ADS (2) |
||||||||||||||||||||||||
Basic |
(1.01 | ) | (15.02 | ) | 2.18 | 3.89 | 2.45 | 0.38 | ||||||||||||||||
Diluted |
(1.01 | ) | (15.02 | ) | 2.02 | 3.71 | 2.41 | 0.38 | ||||||||||||||||
Weighted average number of ADSs used in calculating net (loss) income per ADS |
||||||||||||||||||||||||
Basic |
100,000,000 | 166,828,435 | 214,811,862 | 227,081,238 | 238,198,117 | 238,198,117 | ||||||||||||||||||
Diluted |
100,000,000 | 166,828,435 | 232,024,961 | 238,631,613 | 241,790,445 | 241,790,445 | ||||||||||||||||||
Net (loss) income per ordinary share |
||||||||||||||||||||||||
Basic |
(1.01 | ) | (15.02 | ) | 2.18 | 3.89 | 2.45 | 0.38 | ||||||||||||||||
Diluted |
(1.01 | ) | (15.02 | ) | 2.02 | 3.71 | 2.41 | 0.38 | ||||||||||||||||
Weighted average number of ordinary shares used in calculating net (loss) income per ordinary share |
||||||||||||||||||||||||
Basic |
100,000,000 | 166,828,435 | 214,811,862 | 227,081,238 | 238,198,117 | 238,198,117 | ||||||||||||||||||
Diluted |
100,000,000 | 166,828,435 | 232,024,961 | 238,631,613 | 241,790,445 | 241,790,445 |
(1) | Share-based compensation expenses were allocated in cost of revenues and operating expenses as follows: |
For the year ended December 31, |
||||||||||||||||||||||||
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands) |
||||||||||||||||||||||||
Cost of revenues |
2,877 | 10,472 | 31,593 | 64,942 | 56,629 | 8,886 | ||||||||||||||||||
Research and development expenses |
9,174 | 30,643 | 86,296 | 150,723 | 135,316 | 21,234 | ||||||||||||||||||
Sales and marketing expenses |
791 | 1,832 | 5,919 | 9,879 | 8,318 | 1,305 | ||||||||||||||||||
General and administrative expenses |
27,266 | 183,748 | 157,936 | 182,664 | 89,442 | 14,035 |
(2) | Each ADS represents one Class A ordinary share |
For the year ended December 31, |
||||||||||||||||||||||||
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands) |
||||||||||||||||||||||||
Selected Consolidated Balance Sheet Data: |
||||||||||||||||||||||||
Cash and cash equivalents |
442,532 | 709,019 | 1,113,193 | 3,293,573 | 1,790,784 | 281,013 | ||||||||||||||||||
Short-term deposits |
593,241 | 4,983,825 | 6,743,445 | 5,974,790 | 8,351,945 | 1,310,602 | ||||||||||||||||||
Short-term investments |
— | 300,162 | 2,219,531 | 1,206,539 | 816,331 | 128,100 | ||||||||||||||||||
Total current assets |
1,250,307 | 6,595,187 | 10,591,820 | 11,270,938 | 11,916,269 | 1,869,921 | ||||||||||||||||||
Investments |
10,299 | 219,827 | 379,424 | 467,206 | 608,617 | 95,505 | ||||||||||||||||||
Total assets |
1,300,541 | 7,106,187 | 11,366,550 | 12,410,687 | 13,254,942 | 2,079,987 | ||||||||||||||||||
Total current liabilities |
685,650 | 1,380,446 | 2,446,677 | 2,384,795 | 2,576,085 | 404,240 | ||||||||||||||||||
Total liabilities |
730,674 | 1,461,180 | 2,681,700 | 2,633,909 | 2,744,741 | 430,706 | ||||||||||||||||||
Class A ordinary shares |
1 | 29 | 44 | 55 | 58 | 9 | ||||||||||||||||||
Class B ordinary shares |
66 | 104 | 100 | 100 | 99 | 16 | ||||||||||||||||||
Total shareholders’ equity |
60,199 | 5,645,007 | 8,684,850 | 9,776,778 | 10,510,201 | 1,649,281 | ||||||||||||||||||
For the year ended December 31, |
||||||||||||||||||||||||
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands) |
||||||||||||||||||||||||
Selected Consolidated Cash Flows Data |
||||||||||||||||||||||||
Net cash provided by operating activities |
242,444 | 717,461 | 1,945,414 | 1,239,874 | 327,453 | 51,384 | ||||||||||||||||||
Net cash (used in)/provided by investing activities |
(559,561 | ) | (4,567,452 | ) | (3,684,971 | ) | 1,004,780 | (1,880,320 | ) | (295,064 | ) | |||||||||||||
Net cash provided by financing activities |
774,448 | 4,126,861 | 2,133,651 | 265,294 | 10,723 | 1,683 | ||||||||||||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash |
457,331 | 276,870 | 394,094 | 2,509,948 | (1,542,144 | ) | (241,997 | ) | ||||||||||||||||
Cash and cash equivalents and restricted cash at the beginning of the year |
6,187 | 442,532 | 709,019 | 1,114,585 | 3,458,462 | 542,708 | ||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents and restricted cash |
(20,986 | ) | (10,383 | ) | 11,472 | (166,071 | ) | (69,864 | ) | (10,962 | ) | |||||||||||||
Cash and cash equivalents and restricted cash at the end of the year |
442,532 | 709,019 | 1,114,585 | 3,458,462 | 1,846,454 | 289,749 | ||||||||||||||||||
For the year ended December 31, 2021 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Third-party revenues |
— | 453,967 | — | 10,897,479 | — | 11,351,446 | ||||||||||||||||||
Inter-company revenues (1) |
— | 109,826 | 8,639,714 | — | (8,749,540 | ) | — | |||||||||||||||||
Total cost and expenses (2) |
(5,554 | ) | (796,935 | ) | (8,813,794 | ) | (10,789,307 | ) | 8,749,269 | (11,656,321 | ) | |||||||||||||
Share of income of subsidiaries, VIE and VIE’s subsidiaries (3) |
524,190 | 324,777 | 252,963 | — | (1,101,930 | ) | — | |||||||||||||||||
Others, net |
68,919 | 60,317 | 239,685 | 195,202 | 271 | 564,394 | ||||||||||||||||||
Income before income tax |
587,555 |
151,952 |
318,568 |
303,374 |
(1,101,930 |
) |
259,519 |
|||||||||||||||||
Income tax (expenses) benefits |
(4,056 | ) | (7,006 | ) | 6,209 | (50,374 | ) | — | (55,227 | ) | ||||||||||||||
Share of income (loss) from equity method investments |
— | 379,244 | — | (37 | ) | — | 379,207 | |||||||||||||||||
Net income |
583,499 |
524,190 |
324,777 |
252,963 |
(1,101,930 |
) |
583,499 |
|||||||||||||||||
For the year ended December 31, 2020 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Third-party revenues |
— | 176,300 | — | 10,738,074 | — | 10,914,374 | ||||||||||||||||||
Inter-company revenues (1) |
7,795 | 268,448 | 7,440,411 | — | (7,716,654 | ) | — | |||||||||||||||||
Total cost and expenses (2) |
(30,562 | ) | (590,340 | ) | (7,001,732 | ) | (10,477,605 | ) | 7,716,652 | (10,383,587 | ) | |||||||||||||
Share of income of subsidiaries, VIE and VIE’s subsidiaries (3) |
762,353 | 855,160 | 265,729 | — | (1,883,242 | ) | — | |||||||||||||||||
Others, net |
159,091 | 24,230 | 235,947 | 82,469 | 4 | 501,741 | ||||||||||||||||||
Income before income tax |
898,677 |
733,798 |
940,355 |
342,938 |
(1,883,240 |
) |
1,032,528 |
|||||||||||||||||
Income tax expenses |
(14,519 | ) | (676 | ) | (85,195 | ) | (76,394 | ) | — | (176,784 | ) | |||||||||||||
Share of income (loss) from equity method investments |
— | 29,231 | — | (817 | ) | — | 28,414 | |||||||||||||||||
Net income |
884,158 |
762,353 |
855,160 |
265,727 |
(1,883,240 |
) |
884,158 |
|||||||||||||||||
For the year ended December 31, 2019 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Third-party revenues |
— | 81,184 | — | 8,293,317 | — | 8,374,501 | ||||||||||||||||||
Inter-company revenues (1) |
— | — | 929,589 | — | (929,589 | ) | — | |||||||||||||||||
Total cost and expenses (2) |
(7,045 | ) | (536,061 | ) | (624,694 | ) | (7,954,302 | ) | 929,589 | (8,192,513 | ) | |||||||||||||
Share of income of subsidiaries, VIE and VIE’s subsidiaries (3) |
251,827 | 695,835 | 394,326 | — | (1,341,988 | ) | — | |||||||||||||||||
Others, net |
223,391 | 11,406 | 20,754 | 129,487 | — | 385,038 | ||||||||||||||||||
Income before income tax |
468,173 |
252,364 |
719,975 |
468,502 |
(1,341,988 |
) |
567,026 |
|||||||||||||||||
Income tax expenses |
— | (537 | ) | (24,140 | ) | (71,401 | ) | — | (96,078 | ) | ||||||||||||||
Share of loss from equity method investments |
— | — | — | (2,775 | ) | — | (2,775 | ) | ||||||||||||||||
Net income |
468,173 |
251,827 |
695,835 |
394,326 |
(1,341,988 |
) |
468,173 |
|||||||||||||||||
For the year ended December 31, 2021 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||
Cash and cash equivalents |
302,673 | 472,428 | 541,540 | 474,143 | — | 1,790,784 | ||||||||||||||||||
Restricted cash |
— | — | 10,258 | 45,412 | — | 55,670 | ||||||||||||||||||
Short-term deposits |
3,703,677 | 2,188,268 | 2,460,000 | — | — | 8,351,945 | ||||||||||||||||||
Short-term investments |
— | — | 816,331 | — | — | 816,331 | ||||||||||||||||||
Accounts receivable, net |
— | 23,304 | 429 | 64,301 | — | 88,034 | ||||||||||||||||||
Prepayments and other current assets |
34,389 | 21,454 | 392,362 | 216,740 | — | 664,945 | ||||||||||||||||||
Amounts due from related parties |
67 | 10,689 | 8,440 | 129,364 | — | 148,560 | ||||||||||||||||||
Amounts due from Group companies (4) |
3,409,544 | — | 28,116 | 1,379,170 | (4,816,830 | ) | — | |||||||||||||||||
Investments |
— | 158,933 | — | 449,684 | — | 608,617 | ||||||||||||||||||
Investment in subsidiaries, VIE and VIE’s subsidiaries (3) |
3,099,424 | 3,532,364 | 1,677,392 | — | (8,309,180 | ) | — | |||||||||||||||||
Intangible assets, net |
— | 981 | 2,951 | 80,010 | — | 83,942 | ||||||||||||||||||
Right of use asset |
— | 334,177 | 59,493 | 1,701 | — | 395,371 | ||||||||||||||||||
Prepayments and other non-current assets |
343 | 1,499 | 147,822 | 1,223 | — | 150,887 | ||||||||||||||||||
Other assets |
— | 6,711 | 80,110 | 13,035 | — | 99,856 | ||||||||||||||||||
Total assets |
10,550,117 |
6,750,808 |
6,225,244 |
2,854,783 |
(13,126,010 |
) |
13,254,942 |
|||||||||||||||||
Deferred revenue and Advances from customers |
— | 15,225 | — | 563,259 | — | 578,484 | ||||||||||||||||||
Amounts due to Group companies (4) |
36,316 | 3,501,583 | 1,278,931 | — | (4,816,830 | ) | — | |||||||||||||||||
Accrued liabilities and other current liabilities |
2,508 | 98,286 | 1,244,128 | 500,530 | — | 1,845,452 | ||||||||||||||||||
Amount due to related parties |
— | 8,476 | 106,405 | 101,247 | — | 216,128 | ||||||||||||||||||
Other liabilities |
1,092 | 27,814 | 63,416 | 12,355 | — | 104,677 | ||||||||||||||||||
Total liabilities |
39,916 |
3,651,384 |
2,692,880 |
1,177,391 |
(4,816,830 |
) |
2,744,741 |
|||||||||||||||||
Total shareholders’ equity (3) |
10,510,201 |
3,099,424 |
3,532,364 |
1,677,392 |
(8,309,180 |
) |
10,510,201 |
|||||||||||||||||
For the year ended December 31, 2020 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||
Cash and cash equivalents |
2,019,585 | 296,634 | 662,008 | 315,346 | — | 3,293,573 | ||||||||||||||||||
Restricted cash |
— | — | 27,900 | 136,989 | — | 164,889 | ||||||||||||||||||
Short-term deposits |
3,000,308 | 1,174,482 | 1,700,000 | 100,000 | — | 5,974,790 | ||||||||||||||||||
Short-term investments |
— | — | 1,206,539 | — | — | 1,206,539 | ||||||||||||||||||
Accounts receivable, net |
— | 23,686 | 54 | 47,497 | — | 71,237 | ||||||||||||||||||
Prepayments and other current assets |
60,497 | 37,800 | 317,901 | 78,910 | — | 495,108 | ||||||||||||||||||
Amounts due from related parties |
67 | 3,180 | 2,271 | 59,284 | — | 64,802 | ||||||||||||||||||
Amounts due from Group companies (4) |
2,488,734 | — | 931,231 | 1,472,386 | (4,892,351 | ) | — | |||||||||||||||||
Investments |
— | 235,895 | — | 231,311 | — | 467,206 | ||||||||||||||||||
Investment in subsidiaries, VIE and VIE’s subsidiaries (3) |
2,261,154 | 2,918,326 | 1,347,614 | — | (6,527,094 | ) | — | |||||||||||||||||
Intangible assets, net |
— | 200 | 750 | 61,846 | — | 62,796 |
For the year ended December 31, 2020 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Right of use asset |
— | 1,809 | 84,783 | 826 | — | 87,418 | ||||||||||||||||||
Prepayments and other non-current assets |
501 | 311,798 | 61,027 | 6,135 | — | 379,461 | ||||||||||||||||||
Other assets |
— | 602 | 70,271 | 71,995 | — | 142,868 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total assets |
9,830,846 |
5,004,412 |
6,412,349 |
2,582,525 |
(11,419,445 |
) |
12,410,687 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Deferred revenue and Advances from customers |
— | 12,386 | — | 651,636 | — | 664,022 | ||||||||||||||||||
Amounts due to Group companies (4) |
36,274 | 2,615,780 | 2,240,297 | — | (4,892,351 | ) | — | |||||||||||||||||
Accrued liabilities and other current liabilities |
15,739 | 98,021 | 1,101,365 | 492,164 | — | 1,707,289 | ||||||||||||||||||
Amount due to related parties |
— | 1,611 | 62,055 | 31,791 | — | 95,457 | ||||||||||||||||||
Other liabilities |
2,055 | 15,460 | 90,306 | 59,320 | — | 167,141 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total liabilities |
54,068 |
2,743,258 |
3,494,023 |
1,234,911 |
(4,892,351 |
) |
2,633,909 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total shareholders’ equity (3) |
9,776,778 |
2,261,154 |
2,918,326 |
1,347,614 |
(6,527,094 |
) |
9,776,778 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended December 31, 2021 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Net cash provided by/(used in) operating activities (5) |
190,341 |
(416,324 |
) |
(622,961 |
) |
1,176,397 |
— |
327,453 |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Capital contribution and advances from Group companies |
(993,969 | ) | — | (8,858 | ) | (911,916 | ) | 1,914,743 | — | |||||||||||||||
Other investing activities |
(761,429 | ) | (529,100 | ) | (392,530 | ) | (197,261 | ) | — | (1,880,320 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net cash used in investing activities |
(1,755,398 |
) |
(529,100 |
) |
(401,388 |
) |
(1,109,177 |
) |
1,914,743 |
(1,880,320 |
) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Capital contribution and advances to Group companies |
— | 1,028,503 | 886,240 | — | (1,914,743 | ) | — | |||||||||||||||||
Other financing activities |
10,723 | — | — | — | — | 10,723 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net cash provided by financing activities |
10,723 |
1,028,503 |
886,240 |
— |
(1,914,743 |
) |
10,723 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended December 31, 2020 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Net cash provided by/(used in) operating activities (5) |
278,860 |
(228,467 |
) |
959,277 |
230,204 |
— |
1,239,874 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Capital contribution and advances to Group companies |
(1,511,573 | ) | (1,856 | ) | (592,551 | ) | (1,300,825 | ) | 3,406,805 | — | ||||||||||||||
Other investing activities |
3,058,990 | (1,589,677 | ) | (1,548,167 | ) | 1,083,634 | — | 1,004,780 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net cash provided by/(used in) investing activities |
1,547,417 |
(1,591,533 |
) |
(2,140,718 |
) |
(217,191 |
) |
3,406,805 |
1,004,780 |
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Capital contribution and advances from Group companies |
— | 1,573,952 | 1,832,853 | — | (3,406,805 | ) | — | |||||||||||||||||
Other financing activities |
265,294 | — | — | — | — | 265,294 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net cash provided by financing activities |
265,294 |
1,573,952 |
1,832,853 |
— |
(3,406,805 |
) |
265,294 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended December 31, 2019 |
||||||||||||||||||||||||
HUYA Inc. |
Other subsidiaries |
Primary beneficiary of VIE |
VIE and VIE’s subsidiaries |
Eliminating adjustments |
Consolidated Totals |
|||||||||||||||||||
(in thousands of RMB) |
||||||||||||||||||||||||
Net cash provided by/(used in) operating activities (5) |
192,085 |
(435,777 |
) |
521,472 |
1,667,634 |
— |
1,945,414 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Capital contribution and advances to Group companies |
(764,951 | ) | (47,829 | ) | — | (861,078 | ) | 1,673,858 | — | |||||||||||||||
Other investing activities |
(1,491,966 | ) | 270,360 | (1,439,487 | ) | (1,023,878 | ) | — | (3,684,971 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|