Company Profile


n June 2011, the live broadcast business was launched in the Happy Age, and YY live broadcast.

In November 2014, YY Live was officially renamed as Tiger Tooth Live and began to operate independently.

In August 2015, Chen He, the star celebrity spokesperson, teamed up to create the “Star Plan”.

In August 2016, the VIE architecture operating entity, Guangzhou Huya, was incorporated.

In March 2017, the listed entity Huya Inc. was incorporated.

In May 2017, a $75 million Series A round of financing was completed.

In March 2018, Tencent won an exclusive strategic investment of 460 million US dollars in the B round.

Profit model


The main revenue of Tiger's live broadcast comes from paid users of the live streaming platform. Paying users can purchase various virtual items on the live broadcast platform, including consumer virtual items and virtual items measured on a time basis. Consumer virtual items are mainly various kinds of virtual props that users dedicate to the anchors to express their love and support for the anchors (commonly known as "brushing gifts"), and broadcast them in real time through live broadcasts and chat rooms, or through anchors. Calling Mai and other ways to highlight and enhance the enthusiasm of users. Such virtual items include "Tiger Food", "Blood Bottle", "Excavator", "Like", "Gray Machine", etc. Some of the virtual items are unique to the HU YA Platform.


As an important mode for platform and anchor cashing, after the user purchases the platform virtual item in cash, the platform will immediately receive the user's recharge amount. After the host receives the virtual item given by the user, the anchor can follow the value of different virtual items. The platform has achieved a certain percentage of "returns", the so-called "revenue share." The revenue sharing model can effectively stimulate the anchor's contribution to the platform content. The higher the popularity of the anchor and the more popular the content, the more it can capture the user's payment support, and the anchor will receive the value of the virtual item received within a certain period of time. The proportion of revenue share that can be obtained from the platform has also increased in a step-by-step manner.

Another important source of income for HU YA Live is advertising. The platform provides customized advertising services and pushes to target groups in the form of display ads, local ads, event-driven ads, and more. In addition, as a game live broadcast platform, HU YA Live also distributes and operates several third-party platform games, as well as some game-related apps, which users can download or play directly on third-party games.


In terms of operational data, as of the end of 2017, the number of registered users of HU YA live reached 198 million, and 77% of the registered users of the platform were between 15-35 years old, mainly after 80 and 90, covering more than 2,600 games. In the fourth quarter of 2017, the average monthly active users of HU YA live broadcast reached 86.7 million, including 38.8 million monthly active users on mobile terminals and 99 minutes per day on mobile users.

In terms of employee structure, as of the end of 2017, the total number of live employees of HU YA reached 818, including 460 R&D personnel, accounting for 56.3%; 261 customer service and operation personnel, accounting for 31.9%; 38 sales and marketing personnel, accounting for 4.6%; 59 administrative staff, accounting for 7.2%.



Industry overview

China has the world's largest gaming market and active live online users. In 2017, the number of Chinese gamers reached 646 million, including 229 million e-sports players. It is expected that the number of Chinese game players will further increase to 917 million by 2022, of which the number of e-sports players will increase to 537 million. With the popularity of smartphones and mobile Internet, mobile games have grown rapidly in the past 10 years. It is expected that the average growth rate will remain above 20% in the next few years, and it will replace PC games as the largest revenue source for the Chinese game segment.


Financial overview


Advantages and prospects

1. China's largest game broadcast platform, high participation and interactive community.

2. Provide rich and trendy content products.

3. Strong technical strength and complete infrastructure.

4. Support from strong shareholders YY and Tencent.

Risk and crisis

1. The business depends to a large extent on the growth and payment of active users and paying users. If the loss of users or the enthusiasm for payment will have a significant adverse impact on the company's performance.

2. Relying on the anchor's contribution to platform content and revenue, the top 100 most popular anchors in 2017 contributed 23.5% of the company's revenue.

3. Faced with greater competition from the industry, Tencent, a major shareholder, is also an important investor in the company's main competitor, Fighting Fish.

company information

Company Name HUYA Inc.

Time to market 2018-05-11

Official website

management team

Chairman of the Board of Directors Li Xueling

CEO Dong Rongjie

Chief Financial Officer Sha Dachuan

Listed exchange

New York Stock Exchange

Industry Film & Entertainment

Address B-1, North Zone, Wanda Commercial Plaza, Wanbo Business District, No. 79 Wanbo 2nd Road, Nancun Town, Panyu District, Guangzhou

The biggest shareholder gathering

shide lim