HUYA (HUYA) Q4 2025 Earnings Call Transcript

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Date

Tuesday, March 17, 2026 astatine 6 a.m. ET

Call participants

• Acting Co-CEO and Senior Vice President — Junhong Huang

• Acting Co-CEO and Chief Financial Officer — Raymond Peng Lei

• Head of Capital Markets — Marguerite Xie

Full Conference Call Transcript

Junhong Huang, our Acting Co-CEO and Senior Vice President; Mr. Raymond Peng Lei, our Acting Co-CEO and CFO; and Ms. Marguerite Xie, Head of Capital Markets. Management volition statesman with prepared remarks, and the telephone volition reason with a Q&A session. Before we continue, delight enactment that today's treatment volition incorporate forward-looking statements made nether the harmless harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements impact inherent risks and uncertainties. As such, the company's results whitethorn beryllium materially antithetic from the views expressed today. Further accusation regarding this and different risks and uncertainties is included successful the company's latest yearly study connected Form 20-F and different nationalist filings arsenic filed with the U.S.

Securities and Exchange Commission. The institution does not presume immoderate work to update immoderate forward-looking statements, but arsenic required nether applicable law. Please besides enactment that Huya's net property merchandise and this league telephone see treatment of unaudited GAAP fiscal accusation arsenic good arsenic unaudited non-GAAP fiscal measures. Huya's property merchandise contains a reconciliation of the unaudited non-GAAP measures to the unaudited astir straight comparable GAAP measures. With that, I'm pleased to crook the telephone implicit to our Co-CEO, Mr. Huang. Please spell ahead.

Junhong Huang: Okay. Hello, everyone, and convey you for joining our net telephone today. I'm arrogant to accidental 2025 was a grounds twelvemonth for us. In the 4th quarter, full nett revenues grew by 16% to RMB 1.74 billion, the highest successful the past 10 quarters, portion our unrecorded streaming concern remained stable. Revenues from game-related services, advertizing and different businesses grew 59% year-over-year, demonstrating our palmy translation to the gaming space. On a afloat twelvemonth basis, full nett revenues returned to maturation and reached RMB 6.5 billion, up 7% year-over-year.

In the 4th quarter, we recorded a one-off accounting provision, excluding lease provision, SBC and amortization items, we would person seen 3 consecutive quarters of affirmative increasing operating nett and the afloat twelvemonth operating profit. A robust contented ecosystem and a unchangeable idiosyncratic basal underpin our performance. In Q4, Huya's full MAUs were astir 160 million. We are besides pleased to spot our platform's power proceed to grow. In February, we welcomed the instrumentality of UGI, 1 of the astir legendary names successful Esports. This instrumentality further validates the spot of Huya's Esports contented ecosystem and our quality to pull and enactment top-tier streamers.