Gaming

- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a leading game live streaming platform in China today announced its unaudited financial results for the third quarter ended September 30, 2022 .

Third Quarter 2022 Highlights

  • Total net revenues for the third quarter of 2022 were RMB2,378.5 million ( US$334.4 million ), compared with RMB2,975.5 million for the same period of 2021.
  • Net income attributable to HUYA Inc. was RMB60.4 million ( US$8.5 million ) for the third quarter of 2022, compared with RMB524.4 million for the same period of 2021.
  • Non-GAAP net income attributable to HUYA Inc. [1] was RMB106.1 million ( US$14.9 million ) for the third quarter of 2022, compared with RMB180.0 million for the same period of 2021.
  • Average mobile MAUs [2] of Huya Live for the third quarter of 2022 was 86.0 million, compared with 85.1 million for the same period of 2021.
  • Total number of paying users [3] of Huya Live for the third quarter of 2022 was 5.5 million, compared with 6.0 million for the same period of 2021.

"In the third quarter of 2022, we expanded our active user base by attracting users to our enhanced interactive experience offerings, as well as our appealing gaming and entertainment content. Average mobile MAUs of Huya Live reached 86.0 million in the third quarter, a slight increase from a relatively high base in the same period last year," said Mr. Rongjie Dong , Chief Executive Officer of Huya. "Faced with ongoing macro headwinds that impacted the broader industry and our Company, we continued to drive live-streaming technology improvements, explore new product features and enrich our quality content. These steps are designed to improve our resilience in uncertain market conditions by helping us to better engage with our users, placing us in a stronger position to capture future opportunities in the game and live streaming market."

Ms. Ashley Xin Wu , Vice President of Finance of Huya, commented, "Our total net revenues were approximately RMB2.4 billion with net income of RMB60.4 million for the third quarter of 2022. During the period we focused on optimizing operations throughout the organization. As a result, our business has become more streamlined and we reduced our total operating expenses by 27.3% in the third quarter year-over-year, mainly driven by sales and marketing savings. In light of the volatile market environment, we will continue to exercise prudence and strengthen our business and financial foundation."

[1] "Non-GAAP net income attributable to HUYA Inc." is defined as net income attributable to HUYA Inc. excluding (i) share-based compensation expenses, (ii) gain on fair value change of investments, net of income taxes, and (iii) gain arising from disposal of an equity investment, net of income taxes. For more information, please refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release.

[2] Refers to average monthly active users on mobile apps. Average mobile MAUs for any period is calculated by dividing (i) the sum of active users on the mobile apps for each month during such relevant period, by (ii) the number of months during such relevant period.

[3] Refers to the sum of user accounts that purchased various products and services on our platform at least once during such relevant period.

Third Quarter 2022 Financial Results

Total net revenues for the third quarter of 2022 were RMB2,378.5 million ( US$334.4 million ), compared with RMB2,975.5 million for the same period of 2021.

Live streaming revenues were RMB2,017.1 million ( US$283.6 million ) for the third quarter of 2022, compared with RMB2,601.9 million for the same period of 2021, primarily due to a decreased number of paying users and lower average spending per paying user on Huya Live, as the recent macro and regulatory environment adversely affected the sentiment of the Company's paying users.

Advertising and other revenues were RMB361.4 million ( US$50.8 million ) for the third quarter of 2022, compared with RMB373.7 million for the same period of 2021, primarily due to soft demand for advertising services resulting from the challenging macro environment. In the third quarter of 2022, content sub-licensing revenues made a relatively larger contribution to advertising and other revenues, mainly due to the fact that revenues from sub-licensing of e-sports tournament broadcasting rights are recognized according to event schedules and experience fluctuations between different periods.

Cost of revenues decreased by 17.6% to RMB2,036.2 million ( US$286.2 million ) for the third quarter of 2022 from RMB2,471.5 million for the same period of 2021, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth costs.

Revenue sharing fees and content costs decreased by 15.7% to RMB1,789.8 million ( US$251.6 million ) for the third quarter of 2022 from RMB2,123.6 million for the same period of 2021, primarily due to the decrease in revenue sharing fees associated with declined live streaming revenues, and lower costs related to content creators.

Bandwidth costs decreased by 35.4% to RMB115.0 million ( US$16.2 million ) for the third quarter of 2022 from RMB178.0 million for the same period of 2021, primarily due to improved bandwidth cost management and continued technology enhancement efforts, as well as less overseas bandwidth usage as a result of the strategic adjustment in the Company's overseas business to focus on key markets.

Gross profit was RMB342.4 million ( US$48.1 million ) for the third quarter of 2022, compared with RMB504.0 million for the same period of 2021, primarily due to lower revenues. Gross margin was 14.4% for the third quarter of 2022, compared with 16.9% for the same period of 2021.

Research and development expenses decreased by 16.7% to RMB171.8 million ( US$24.1 million ) for the third quarter of 2022 from RMB206.2 million for the same period of 2021, primarily due to decreased personnel-related expenses and share-based compensation expenses.

Sales and marketing expenses decreased by 45.8% to RMB124.3 million ( US$17.5 million ) for the third quarter of 2022 from RMB229.4 million for the same period of 2021, primarily due to decreased marketing and promotion fees as well as personnel-related expenses.

General and administrative expenses decreased by 1.8% to RMB78.7 million ( US$11.1 million ) for the third quarter of 2022 from RMB80.1 million for the same period of 2021.

Other income was RMB43.9 million ( US$6.2 million ) for the third quarter of 2022, compared with RMB94.8 million for the same period of 2021, primarily due to lower tax refunds and government subsidies.

Operating income was RMB11.6 million ( US$1.6 million ) for the third quarter of 2022, compared with RMB83.1 million for the same period of 2021.

Interest and short-term investments income were RMB71.7 million ( US$10.1 million ) for the third quarter of 2022, compared with RMB62.6 million for the same period of 2021.

Income tax expenses were RMB19.6 million ( US$2.8 million ) for the third quarter of 2022, compared with RMB40.6 million for the same period of 2021, primarily due to the lower taxable income.

Share of income in equity method investments, net of income taxes was RMB0.05 million for the third quarter of 2022, compared with RMB378.7 million for the same period of 2021, primarily due to the investment income related to a disposal of equity investment in the third quarter of 2021.

Net income attributable to HUYA Inc. was RMB60.4 million ( US$8.5 million ) for the third quarter of 2022, compared with RMB524.4 million for the same period of 2021.

Non-GAAP net income attributable to HUYA Inc. , which excludes share-based compensation expenses, was RMB106.1 million ( US$14.9 million ) for the third quarter of 2022, compared with RMB180.0 million for the same period of 2021, which excludes share-based compensation expenses, gain on fair value change of investments, net of income taxes, and gain arising from disposal of an equity investment, net of income taxes.

Basic and diluted net income per American depositary share ("ADS") were RMB0.25 (US$0.04) and RMB0.25 (US$0.04) , respectively, for the third quarter of 2022. Basic and diluted net income per ADS were RMB2.20 and RMB2.17 , respectively, for the third quarter of 2021. Each ADS represents one Class A ordinary share of the Company.

Non-GAAP basic and diluted net income per ADS were RMB0.44 (US$0.06) and RMB0.44 (US$0.06) , respectively, for the third quarter of 2022. Non-GAAP basic and diluted net income per ADS were RMB0.75 and RMB0.75 , respectively, for the third quarter of 2021.

As of September 30, 2022 , the Company had cash and cash equivalents, short-term deposits, short-term investments and long-term deposits of RMB11,008.2 million ( US$1,547.5 million ), compared with RMB10,716.7 million as of June 30, 2022 .

Conference Call

The Company's management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on November 15, 2022 ( 8:00 p.m. Beijing / Hong Kong time on November 15, 2022 ).

For participants who wish to join the call, please complete online registration using the link provided below 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.

Participant Online Registration : https://register.vevent.com/register/BIa1ec580e695d495db24197bd9a916b06

Once complete the registration, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the personal PIN as instructed to connect to the call.

A live webcast of the earnings call will be accessible at https://ir.huya.com and a replay of the webcast will be available following the session.

About HUYA Inc.

HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with e-sports event organizers, as well as major game developers and publishers, and has developed e-sports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China's young generation. Building on its success in game live streaming, Huya has also extended its content to other entertainment content genres. Huya's open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company.

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), except that the consolidated statement of changes in shareholders' equity, consolidated statements of cash flows, and the detailed notes have not been presented. Huya uses non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) attributable to HUYA Inc., non-GAAP net income (loss) attributable to ordinary shareholders, non-GAAP basic and diluted net income (loss) per ordinary shares, and non-GAAP basic and diluted net income (loss) per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating income (loss) is operating income (loss) excluding share-based compensation expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is net income (loss) attributable to HUYA Inc. excluding share-based compensation expenses, gain on fair value change of investments, net of income taxes, and gain arising from disposal of an equity investment, net of income taxes, to the extent applicable. Non-GAAP net income (loss) attributable to ordinary shareholders is net income (loss) attributable to ordinary shareholders excluding share-based compensation expenses, gain on fair value change of investments, net of income taxes, and gain arising from disposal of an equity investment, net of income taxes, to the extent applicable. Non-GAAP basic and diluted net income (loss) per ADS is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income (loss) per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, (ii) gain on fair value change of investments, net of income taxes, and (iii) gain arising from disposal of an equity investment, net of income taxes, add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures represent useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business, and (ii) gain on fair value change of investments, net of income taxes, and (iii) gain arising from disposal of an equity investment, net of income taxes, which may recur when there is observable price change in the future. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income (loss) for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider a non-GAAP financial measure in isolation from or as an alternative to the financial measures prepared in accordance with U.S. GAAP.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "HUYA Inc. Reconciliations of GAAP and Non-GAAP Results" at the end of this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1135 to US$1.00 , the noon buying rate in effect on September 30, 2022 , in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Huya's strategic and operational plans, contain forward-looking statements. Huya may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Huya's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huya's goals and strategies; Huya's future business development, results of operations and financial condition; the expected growth of the game live streaming market; the expectation regarding the rate at which to gain active users, especially paying users; Huya's ability to monetize the user base; Huya's efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China ; the impact of the COVID-19 to Huya's business operations and the economy in China and elsewhere generally; any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Huya does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China :

HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com

The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com

In the United States :
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share, ADS, per share data and per ADS data)




As of December 31,


As of September 30,



2021


2022


2022



RMB


RMB


US$








Assets







Current assets







Cash and cash equivalents


1,790,784


1,082,585


152,187

Restricted cash


55,670


9,543


1,342

Short-term deposits


8,351,945


9,568,380


1,345,102

Short-term investments


816,331


2,206


310

Accounts receivable, net


88,034


57,600


8,097

Amounts due from related parties, net


148,560


98,740


13,881

Prepayments and other current assets, net


664,945


1,007,073


141,572








Total current assets


11,916,269


11,826,127


1,662,491








Non-current assets







Long-term deposits


-


354,990


49,904

Deferred tax assets


20,245


24,900


3,500

Investments


608,617


921,829


129,589

Property and equipment, net


79,611


164,071


23,065

Intangible assets, net


83,942


63,151


8,878

Right-of-use assets, net


395,371


354,689


49,861

Prepayments and other non-current assets


150,887


113,055


15,893








Total non-current assets


1,338,673


1,996,685


280,690








Total assets


13,254,942


13,822,812


1,943,181








Liabilities and shareholders' equity







Current liabilities







Accounts payable


12,579


20,654


2,903

Advances from customers and deferred revenue


459,509


470,134


66,090

Income taxes payable


5,944


56,994


8,012

Accrued liabilities and other current liabilities


1,845,452


1,453,667


204,357

Amounts due to related parties


216,128


191,884


26,975

Lease liabilities due within one year


36,473


33,031


4,643








Total current liabilities


2,576,085


2,226,364


312,980








Non-current liabilities







Lease liabilities


45,084


11,817


1,661

Deferred tax liabilities


4,597


20,533


2,886

Deferred revenue


118,975


90,224


12,683








Total non-current liabilities


168,656


122,574


17,230








Total liabilities


2,744,741


2,348,938


330,210








HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except share, ADS, per share data and per ADS data)




As of December 31,


As of September 30,



2021


2022


2022



RMB


RMB


US$








Shareholders' equity







Class A ordinary shares (US$0.0001 par value;
750,000,000 shares authorized as of December
31, 2021 and September 30, 2022, respectively;
86,993,764 and 89,103,072 shares issued and
outstanding as of December 31, 2021 and
September 30, 2022, respectively)


58


59


8

Class B ordinary shares (US$0.0001 par value;
200,000,000 shares authorized as of

December 31, 2021 and September 30, 2022,
respectively; 151,076,517 and 150,386,517
shares issued and outstanding as of
December
31, 2021 and September 30, 2022, respectively)


99


98


14

Additional paid-in capital


11,764,059


11,893,994


1,672,031

Statutory reserves


122,429


122,429


17,211

Accumulated deficit


(1,300,144)


(1,262,401)


(177,466)

Accumulated other comprehensive (loss) income


(76,300)


719,695


101,173








Total shareholders' equity


10,510,201


11,473,874


1,612,971








Total liabilities and shareholders' equity


13,254,942


13,822,812


1,943,181

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except share, ADS, per share data and per ADS data)




Three Months Ended


N ine Months Ended



S eptember 30,

2021


June 30,

2022


S eptember 30,

2022


S eptember 30,

2022


S eptember 30,

2021


S eptember 30,

2022


S eptember 30,

2022



RMB


RMB


RMB


US$


RMB


RMB


US$
















Net revenues















Live streaming


2,601,854


2,051,920


2,017,128


283,563


7,573,307


6,220,752


874,499

Advertising and others


373,692


223,254


361,416


50,807


969,398


897,517


126,171
















Total net revenues


2,975,546


2,275,174


2,378,544


334,370


8,542,705


7,118,269


1,000,670
















Cost of revenues (1)


(2,471,536)


(2,056,054)


(2,036,191)


(286,243)


(6,943,488)


(6,223,219)


(874,846)
















Gross profit


504,010


219,120


342,353


48,127


1,599,217


895,050


125,824
















Operating expenses (1)















Research and development expenses


(206,203)


(168,411)


(171,779)


(24,148)


(613,173)


(536,441)


(75,412)

Sales and marketing expenses


(229,404)


(100,264)


(124,293)


(17,473)


(541,034)


(369,622)


(51,961)

General and administrative expenses


(80,073)


(81,839)


(78,653)


(11,057)


(236,294)


(241,266)


(33,917)
















Total operating expenses


(515,680)


(350,514)


(374,725)


(52,678)


(1,390,501)


(1,147,329)


(161,290)
















Other income, net


94,804


50,283


43,949


6,178


218,415


122,510


17,222
















Operating income (loss)


83,134


(81,111)


11,577


1,627


427,131


(129,769)


(18,244)
















Interest and short-term investments income


62,561


65,633


71,703


10,080


185,420


196,538


27,629

Gain on fair value change of investments


40,568


-


-


-


44,161


7,602


1,069

Foreign currency exchange losses, net


(31)


(2,860)


(3,309)


(465)


(1,569)


(6,233)


(876)
















I ncome (loss) before income tax expenses


186,232


(18,338)


79,971


11,242


655,143


68,138


9,578
















Income tax expenses


(40,577)


(1,295)


(19,593)


(2,754)


(138,278)


(30,289)


(4,258)
















Income (loss) before share of income (loss)
in equity method investments, net of
income taxes


145,655


(19,633)


60,378


8,488


516,865


37,849


5,320
















Share of income (loss) in equity method
investments, net of income taxes


378,724


267


45


6


379,303


(106)


(15)
















Net income (loss) attributable to HUYA Inc.


524,379


(19,366)


60,423


8,494


896,168


37,743


5,305
















Net income (loss) attributable to ordinary
shareholders


524,379


(19,366)


60,423


8,494


896,168


37,743


5,305
















HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)

(All amounts in thousands, except share, ADS, per share data and per ADS data)






Three Months Ended


Nine Months Ended



September 30,


June 30,


September 30,


September 30,


September 30,


September 30,


September 30,



2021


2022


2022


2022


2021


2022


2022



RMB


RMB


RMB


US$


RMB


RMB


US$
















Net income (loss) per ADS*















—Basic


2.20


(0.08)


0.25


0.04


3.77


0.16


0.02

—Diluted


2.17


(0.08)


0.25


0.04


3.71


0.16


0.02

Net income (loss) per ordinary share















—Basic


2.20


(0.08)


0.25


0.04


3.77


0.16


0.02

—Diluted


2.17


(0.08)


0.25


0.04


3.71


0.16


0.02
















Weighted average number of ADS used in
calculating net income (loss) per ADS















—Basic


238,814,217


241,341,080


242,117,367


242,117,367


237,848,772


241,077,573


241,077,573

—Diluted


241,449,111


241,341,080


242,287,157


242,287,157


241,774,727


241,563,318


241,563,318
















* Each ADS represents one Class A ordinary share.


(1) Share-based compensation was allocated in cost of revenues and operating expenses as follows:


















Three Months Ended


Nine Months Ended



September 30,


June 30,


September 30,


September 30,


September 30,


September 30,


September 30,

2021


2022


2022


2022

2021

2022

2022



RMB


RMB


RMB


US$


RMB


RMB


US$
















Cost of revenues


11,883


3,667


9,054


1,273


41,473


25,833


3,632

Research and development expenses


34,720


7,275


22,289


3,133


103,687


52,815


7,425

Sales and marketing expenses


2,512


249


1,507


212


6,073


3,400


478

General and administrative expenses


21,714


14,045


12,813


1,801


67,474


45,604


6,411

HUYA INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share, ADS, per share data and per ADS data)




Three Months Ended


N ine Months Ended



S eptember 30,

2021


June 30,

2022


S eptember 30,

2022


S eptember 30,

2022


S eptember 30,

2021


S eptember 30,

2022


S eptember 30,

2022



RMB


RMB


RMB


US$


RMB


RMB


US$
















Gross profit


504,010


219,120


342,353


48,127


1,599,217


895,050


125,824

Share-based compensation expenses allocated
in cost of revenues


11,883


3,667


9,054


1,273


41,473


25,833


3,632
















Non-GAAP gross profit


515,893


222,787


351,407


49,400


1,640,690


920,883


129,456
















Operating income (loss)


83,134


(81,111)


11,577


1,627


427,131


(129,769)


(18,244)

Share-based compensation expenses


70,829


25,236


45,663


6,419


218,707


127,652


17,946
















Non-GAAP operating income (loss)


153,963


(55,875)


57,240


8,046


645,838


(2,117)


(298)
















Net income (loss) attributable to HUYA Inc.


524,379


(19,366)


60,423


8,494


896,168


37,743


5,305

Gain on fair value change of investments, net
of income taxes


(36,511)


-


-


-


(40,130)


(6,842)


(962)

Gain arising from disposal of an equity
investment, net of income taxes


(378,679)


-


-


-


(378,679)


-


-

Share-based compensation expenses


70,829


25,236


45,663


6,419


218,707


127,652


17,946
















Non-GAAP net income attributable to
HUYA Inc.


180,018


5,870


106,086


14,913


696,066


158,553


22,289
















Net income (loss) attributable to ordinary

shareholders


524,379


(19,366)


60,423


8,494


896,168


37,743


5,305

Gain on fair value change of investments, net
of income taxes


(36,511)


-


-


-


(40,130)


(6,842)


(962)

Gain arising from disposal of an equity
investment, net of income taxes


(378,679)


-


-


-


(378,679)


-


-

Share-based compensation expenses


70,829


25,236


45,663


6,419


218,707


127,652


17,946
















Non-GAAP net income attributable to
ordinary shareholders


180,018


5,870


106,086


14,913


696,066


158,553


22,289
















Non-GAAP net income per ordinary share















—Basic


0.75


0.02


0.44


0.06


2.93


0.66


0.09

—Diluted


0.75


0.02


0.44


0.06


2.88


0.66


0.09
















Non-GAAP net income per ADS















—Basic


0.75


0.02


0.44


0.06


2.93


0.66


0.09

—Diluted


0.75


0.02


0.44


0.06


2.88


0.66


0.09
















Weighted average number of ADS used in
calculating Non-GAAP net income per
ADS















—Basic


238,814,217


241,341,080


242,117,367


242,117,367


237,848,772


241,077,573


241,077,573

—Diluted


241,449,111


241,686,424


242,287,157


242,287,157


241,774,727


241,563,318


241,563,318

Cision View original content: https://www.prnewswire.com/news-releases/huya-inc-reports-third-quarter-2022-unaudited-financial-results-301678182.html

SOURCE HUYA Inc.

News Provided by PR Newswire via QuoteMedia

GAMING00
East Side Games

The Office: Somehow We Manage Mobile Game Available Now

East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.

Watch the launch trailer here .

News Provided by Canada Newswire via QuoteMedia

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Researchers from Gwangju Institute of Science and Technology Develop an Intelligent Observer for Esports

It utilizes an object detection algorithm that learns human spectating data to find engaging viewports

Human game observers are a vital part of the Esports industry. They use extensive domain knowledge to decide what to show to the spectators. However, they may miss important events, necessitating the need for automatic observers. Researchers from South Korea have recently proposed a framework that utilizes an object detection method, Mask R-CNN, and human observational data to find the 'Region of Common Interest' in StarCraft—a real-time strategy game.

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DUBAI ESPORTS FESTIVAL 2022 CONCLUDES ON A HIGH NOTE

Dubai marked the conclusion of the inaugural Dubai Esports Festival (DEF 2022), held under the patronage of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum Chairman of the Dubai Media Council on 20 th November. Held at the Dubai Exhibition Centre in Dubai Expo City between 9 and 20 November, DEF2022 was hosted by Dubai Festivals and Retail Establishment (DFRE) in partnership with VSPN, a global leader in esports activities and solutions, and presenting partner, du.

PGC Final Award Ceremony

Reinforcing Dubai's position as a hub for technology, innovation, events and tourism, the Festival brought together leading gamers, esports thought leaders and fans from across the world. The 12-day Festival's concluding day featured the championship round of the inaugural PUBG Global Championship 2022 Grand Finals, which saw Team Natus Vincere crowned winners and Team 17 coming in second.

DEF 2022 kicked off with the two-day Initiate Summit, a groundbreaking B2B learning and networking platform for esports and gaming industry professionals, developers and creatives. The Summit was held in collaboration with Dubai World Trade Centre (DWTC) and Dubai Media City, a member of TECOM Group, the event's Knowledge Partner. The oversubscribed first edition of the Summit welcomed over a thousand participants and more than 60 industry and esports thought leaders, showcasing Dubai's appetite for growth in the esports sector.

Organised in collaboration with DWTC and Alanza Trading, GameExpo and PopConME kicked off on the second day as two of the Festival's key attractions. GameExpo and PopConME featured some of the biggest Hollywood celebrities, special meet-and-greet sessions, exclusive workshops, movie screenings, international artists and creators, artist alley, cosplay competition offering a prize of Dh75,000 to the winner, gaming competitions and esports tournaments.

During the four-day GameExpo, three grassroots esports tournaments took place in collaboration with global gaming titles, including Minecraft and Honor of Kings, as regional esports competitors and youth gamers took to the stage to show off their skills and win prizes worth up to $25,000 . Rounding off the inaugural Festival, popular Egyptian artist Wegz performed live in concert with an electrifying musical showcase.

DEF 2022 catered to gamers, families, friends, art and music lovers, industry professionals, and esports experts as part of its first edition with the aim of uniting and developing the gaming and esports communities in Dubai and the region.

For more information about DEF 2022 please visit www.dubaiesportsfestival.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/dubai-esports-festival-2022-concludes-on-a-high-note-301686136.html

SOURCE VSPN

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Global Immersive Gaming Group, The Secret City, Sets Stage For Biggest Expansion Yet

Leaders in interactive gaming, The Secret City are set to launch a new collection of outdoor experiences in the US, bringing their immersive real-world adventures to cities across The States.

For over half a decade, The Secret City have been using technology to create interactive puzzle-filled hunts through interesting and historic cities worldwide. The games are a blend of walking tours and outdoor escape rooms, all playable from any phone. They allow players to discover the highlights and hidden gems of their cities while simultaneously collaborating in teams to beat challenges and top the leaderboard. Top-rated local businesses are recommended along the way for teams to take a break and indulge in great food and drinks.

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Pojifi Launches the Ultimate Game Controller with a Professional App to Adjust Parameters

The Pojifi AL-NS2080 Is Packed with a Wide Range of High-End Features & Is Compatible with PC & Switch Platforms

Pojifi has proudly announced that it has recently launched the ultimate game controller with a high-tech app to adjust the parameters. This all-new Pojifi Wireless Gaming Controller is officially called the Pojifi-AL-NS2080 Detachable Light Up Gaming Controller and it is equipped with a wide range of features and benefits. Founded in 2016 in China, Pojifi is a high-tech enterprise integrating research, design, development, manufacturing, and sales.

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Temasek's Vertex Leads $4M Investment in CARV to Build Gaming Credential and Data Infrastructure

CARV has raised $4M in seed funding led by Vertex, Temasek Holding's venture capital arm with participation from EVOS (ATTN Group), SNACKCLUB (Loud Gaming), Infinity Ventures Crypto YGG SEA, UpHonest Capital, Lyrik Ventures, Lintentry Foundation, PAKADAO, 7UpDAO, Angel Investor Aliaksandr Hadzilin (NEAR's co-founder), among others. Many investors bring infrastructure and gaming ecosystem synergies to CARV, especially across the US, Europe LATAM, and Southeast Asia markets.

The Los Angeles -based company set out with a mission to empower gamers with data sovereignty via gaming credentials. "Gamer activities span across devices, platforms, and into real life. However, their time, effort, and money spent remain data points scattered across isolated ecosystems, with limited value to gamers." Says Victor Yu, CARV's co-founder and COO. "By creating the infrastructure to piece these breadcrumbs together, we are unlocking tremendous opportunities in how gamers interact in the gaming universe." Gamers now own and self-sovereign their data, with which they can achieve their hard-earned achievements and be recognized for community contribution on CARV.IO . Moreover, gamers can explore the semantic discovery of friends & games, and unlock credential-gated gaming premiums and governance privileges based on their past gaming experience.

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Youth Franchise XP League Partners with Parabellum Esports

First and Largest Esports Franchise in North America Partners with Canadian Esports Organization

XP League the first and largest esports franchise in North America has announced a new partnership with Canadian pro team Parabellum Esports . Through this partnership, select XP League teams will be able to play under the Parabellum name and wear their jersey helping to cement XP League as the premier youth esports organization that aligns with professional esports.

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