Rakuten on December 22
Huya, through its wholly-owned subsidiary, has entered into a definitive agreement with a wholly-owned subsidiary of Tencent Holdings to acquire 100% of a global mobile application service provider from Tencent for a total cash consideration of US$81 million, according to documents filed with the SEC in the United States.
Huya said the acquisition of the mobile app service provider is expected to enhance Huya's ability to promote and distribute gaming apps in international markets, while creating synergies with Nimo TV, the company's overseas game live streaming platform.
As of March 31, 2023, Huya's shareholding structure
Tencent is the majority shareholder of Huya. As of March 31, 2023, Tencent held 46.7% of the shares with 70.3% of the voting rights, while Huanju Group held 16% of the shares with 24.1% of the voting rights, according to the filing.
On May 27, 2023, Tencent Vice President Lin Songtao replaced Huang Lingdong as chairman of Huya, and three months later, Dong Rongjie, who led Huya's listing, stepped down as CEO.
According to the financial report, Huya's revenue in the third quarter of 2023 will be 1.648 billion yuan (about 226 million US dollars), down 31% from 2.379 billion yuan in the same period last year and 10% from 1.82 billion yuan in the previous quarter. Since the fourth quarter of 2021, Huya's revenue has declined year-on-year for eight consecutive quarters.
Huya's net profit for the third quarter of 2023 was 12.1 million yuan, down 80% from 60.4 million yuan in the same period last year and down 48% from 23.2 million yuan in the previous quarter.
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