Huya acquires a mobile application service provider owned by Tencent for US$81 million

According to news from this site on December 24, Huya disclosed in a document submitted to the U.S. Securities and Exchange Commission (SEC) on December 22 that it reached a final agreement with a wholly-owned subsidiary of Tencent Holdings through its wholly-owned subsidiary, Acquired 100% equity of a global mobile application service provider owned by Tencent with cash of US$81 million (note on this site: currently about 579 million yuan). However, the purchase price may be subject to customary adjustments.

The transaction has been authorized and approved by Huya's board of directors and audit committee. The financial results of the acquired company will be merged into Huya. The document also shows that the acquisition of the mobile application service provider is expected to enhance Huya's ability to promote and distribute game applications in the international market, and will create "synergy effects" with Nimo TV, Huya's overseas game live broadcast platform. . According to previous reports by this site, Huya's third quarter financial report data for 2023 showed that the total net revenue for the quarter was

1.648 billion yuan

(225.8 million U.S. dollars), compared with 23.79 for the same period in 2022 billion yuan. Net income attributable to Huya for the third quarter of 2023 was 12.1 million yuan ($1.7 million), compared with 60.4 million yuan for the same period in 2022. Wu Xin, acting co-CEO and vice president of Huya, said that against the backdrop of a weak industry environment and active business adjustments, total net revenue in the third quarter of 2023 will be approximately RMB 1.6 billion. "

In the third quarter, our gross profit margin was 13.9%, and total operating expenses decreased by 20.7% year-on-year, reflecting our continued operational optimization efforts

."

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