HUYA Inc. announced a new share repurchase program of up to $50 million, effective March 18, 2026. The program replaces the prior $50 million plan that expired on March 31, 2026 and cancels the remaining $24.5 million of unused quota from that earlier program.
The company will fund the repurchases from its existing cash reserves. The announcement comes alongside a special cash dividend of $0.135 per ordinary share, totaling roughly $31 million, underscoring a broader shareholder‑return strategy.
Financial results for the fourth quarter of 2025 show total net revenues of RMB 1,738.5 million, a 16.2 % year‑over‑year increase, while the company posted a non‑GAAP net loss attributable to HUYA Inc. of RMB 8.4 million. In contrast, the same quarter in 2024 yielded a non‑GAAP net income of RMB 1.2 million. For the full year 2025, net revenues rose 7.0 % to RMB 6.5 billion, but the company recorded a non‑GAAP net loss of RMB 99 million versus a net income of RMB 269 million in 2024. The loss is largely attributable to a one‑off accounting provision that impacted operating results.
Management highlighted the company’s progress and the impact of the accounting provision. Acting Co‑CEO Junhong Huang said, "In 2025, we made meaningful progress in our evolution into a comprehensive game‑related services provider. Our total net revenues for 2025 rebounded to RMB 6.5 billion, up 7.0 % year‑over‑year. Notably, our fourth quarter total net revenues reached RMB 1.74 billion, with year‑over‑year growth accelerating to 16.2 %." Acting Co‑CEO and CFO Raymond Peng Lei added, "Our fourth quarter results included a one‑off accounting provision, which had a significant impact on our reported operating results and led to an operating loss for the quarter. Excluding the impact of this item, this quarter’s results reflected continued improvement in our core operating performance."
The announcement was met with a positive reaction from investors, who viewed the dividend and share‑buyback as signals of management confidence in the company’s valuation and cash‑flow outlook. The EPS miss in the fourth quarter—reported as a non‑GAAP diluted net loss per ADS of RMB 0.04 versus a prior‑year gain of RMB 0.01—was noted, but the overall shareholder‑return package helped offset concerns about the earnings miss.
The share repurchase program will reduce the number of outstanding shares, potentially boosting earnings per share over time. By funding the program from existing cash, HUYA demonstrates that it has sufficient liquidity to support the buyback while maintaining its strategic focus on expanding game‑related services and advertising revenue streams. The program, coupled with the special dividend, signals management’s confidence in the company’s long‑term prospects despite the current operating loss.
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