HUYA Inc. (NYSE:HUYA) Q3 2023 Earnings Call Transcript

Operator: Thank you. Now we will take our last question today. It is from Ivan Su from Morningstar. Ivan, please go ahead.

Ivan Su: [Foreign Language] Can you share more of your thinking on shares buyback? Will you accelerate your buyback going into the next few quarters? And lastly, can you share your plan on spending down your strong net cash position? Thank you.

Ashley Wu: [Foreign Language]

Unidentified Company Representative: Middle of August we announced a plan of buying back of up to US$100 million worth of shares in the next 12 months. We also hope to use cash more effectively and show the confidence of the Board of Directors and management of Huya and the future development. And as of September 30, we had bought back shares worth $9 million. We will continue to implement the buyback plan in good place so as to improve shareholders’ value.

Ashley Wu: [Foreign Language]

Unidentified Company Representative: Regarding our usage of cash under the current macro environment and competitive climate, we believe that holding enough cash is conducive to maintaining a competitiveness of Huya. On the one hand, we’ll continue to invest in content technology products as well as overseas markets. On the other hand, we will remain open to investment or mergers or acquisitions in the upper stream or downstream of our ecosystem and carefully consider possible potential opportunities. We would also dynamically adjust according to the company’s operating conditions and market climate. At the same time, we will also seriously consider various forms of return to our shareholders including repo or dividends in order to repay the long-term support of our shareholders and improve the efficiency of our cash.

Hanyu Liu: Okay. Thank you. Thank you once again for joining us today. If you have further questions, please feel free to contact Huya’s Investor Relations through the contact information provided on our website or Piacente Financial Communications.

Operator: This concludes today’s call and we look forward to speaking to you again next quarter. Thank you.