首页 News 正文

Huanju Group's net profit increased by 46.8% year-on-year in 2023 and is currently discussing actions to terminate YY transactions with Baidu

王俊杰2017
200 0 0

On March 19th, Huanju Group (NASDAQ: YY) released its financial reports for the fourth quarter and full year of 2023. In the fourth quarter of 2023, Huanju Group achieved a revenue of 570 million US dollars, a year-on-year decrease of about 5.8%, and an adjusted net profit of 64.2 million US dollars, a year-on-year increase of 28.4%.
In 2023, the total revenue of Huanju Group was 2.27 billion US dollars, a year-on-year decrease of about 6%. The adjusted net profit was 290 million US dollars, a year-on-year increase of about 46.8%.
Regarding the company's performance over the past year, Li Xueling, Chairman and CEO of Huanju Group, stated, "2023 is a year of progress. Through continuous product improvement and flexible operational strategies, the company's global monthly active users have resumed year-on-year growth for three consecutive quarters. At the same time, through unremitting optimization of operational efficiency, the company's profitability has been strengthened for the third consecutive year."
Taking the fourth quarter as an example, although Huanju Group's overall revenue decreased by 5.8% year-on-year, its revenue cost and operating expenses also decreased by 6.2% and 13.8% year-on-year, respectively, which also led to a year-on-year turnaround in its operating revenue and profit margin.
In terms of users, in 2023, the global average monthly active mobile users of Huanju Group were 275 million, a year-on-year increase of 2.6%.
The BIGO sector has become a business pillar
At present, the BIGO segment (including Bigo Live, Likee, and imo) has become the most core business of Huanju Group, and its revenue share has been continuously increasing in recent quarters.
According to financial reports, the paid users of the BIGO sector reached 1.67 million in 2023, a year-on-year increase of 7.9%. In 2023, the annual revenue of the BIGO sector was 1.92 billion US dollars, a year-on-year increase of 3.1%, accounting for 84.6% of the total revenue. In the fourth quarter, the revenue of the BIGO sector was 491 million US dollars, accounting for 86.2% of the total revenue. In terms of profitability, the operating profit of the BIGO sector in 2023 was 288 million US dollars, with an operating interest rate of 15%.
In the BIGO sector, Bigo Live is currently the fastest-growing business for Huanju. In the fourth quarter of 2023, while the user base of other products was shrinking, the average monthly active mobile users of Bigo Live increased by 4.5% year-on-year to 38.4 million.
According to the 2024 Mobile Market Report released by data.ai, Bigo Live remains the second largest global social media platform in terms of consumer spending in 2023. Among 29 countries and regions covering the Americas, Europe, the Middle East, Asia Pacific, and other regions, Bigo Live ranks in the top five out of 18 countries and regions, and in the top ten out of 7 countries and regions.
YY Live Latest Progress
On January 1st of this year, Baidu released an announcement that brought another twist to a transaction that had long been perceived as settled by the outside world.
Baidu announced that its affiliated company Moon SPV Limited terminated the Share Purchase Agreement entered into by Moon SPV Limited, Baidu (Hong Kong) Limited, JOYY Inc., and other related parties on November 16, 2020, as amended or supplemented in the future, through the exercise of contractual rights.
Baidu stated that according to the previously signed Share Purchase Agreement, Baidu (Hong Kong) Limited agreed to purchase from JOYY and JOYY agreed to sell JOYY's domestic video entertainment live streaming business (YY Live) in China to Baidu (Hong Kong) Limited. However, the share purchase agreement stipulates that the delivery of the proposed acquisition must meet certain prerequisites, including obtaining necessary government regulatory approvals and other conditions, and if the proposed acquisition is not delivered before the final deadline, both the buyer and seller have the right to terminate the share purchase agreement.
As of December 31, 2023, which is the final deadline, all the delivery prerequisites stipulated in the share purchase agreement have not been fully met. Therefore, Baidu stated that Moon will seek to negotiate with Huanju Group on the future arrangements of the transaction after terminating the equity acquisition agreement and explore reasonable solutions.
In its financial report, Huanju Group also disclosed the latest progress of the transaction. Huanju Group stated that the company is discussing with Baidu the next steps after terminating the share purchase agreement. Meanwhile, the company is also seeking legal advice and will consider all available options based on Baidu's written notice.
Huanju also emphasized that from January 1, 2024 to the date of financial report release, it has not yet obtained control of YY Live and has not merged with YY Live.
As of the closing of the US stock market on March 18th, the stock price of Huanju Group was $33.37 per share, with a total market value of approximately $2 billion. As of December 31, 2023, Huanju had cash and cash equivalents, restricted cash and cash equivalents, short-term deposits, restricted short-term deposits, and short-term investments of $3.69 billion.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

  • 【科技记者古尔曼:苹果计划于12月第一周发布iOS 18.2系统更新 带来更多人工智能功能】科技记者古尔曼透露,苹果计划于12月第一周发布iOS 18.2系统更新。iOS 18.2将为iPhone 15 Pro机型和所有iPhone 16机型带来更多 ...
    cristianna
    昨天 17:32
    支持
    反对
    回复
    收藏
  •   交易所监管文件显示,当地时间11月1日,亚马逊创始人杰夫·贝索斯拟出售约1635万股亚马逊股票,预计套现约30.5亿美元。今年7月,贝索斯已申请额外出售约2500万股亚马逊股票,按当时股价计算可套现约50亿美元。 ...
    blueskybb
    3 天前
    支持
    反对
    回复
    收藏
  •   近日,爱立信中国区总裁方迎在接受《经济参考报》记者采访时表示,5G技术在全球范围内得到了迅速发展,但面临商业潜力未能充分挖掘、网络运营难度较以往更高两大挑战。因此,运营商在继续5G网络部署的同时,应关 ...
    blueskybb
    昨天 15:05
    支持
    反对
    回复
    收藏
  •   近日,凯撒海湾目的地(山东)运营管理有限责任公司(简称“凯撒海湾”)与携程旅悦集团签署战略合作协议,双方将围绕“海上目的地运营”、“旅游产品与服务创新”、“研学旅行”、“日韩及海外旅游市场开拓”等 ...
    llyyy2008
    3 天前
    支持
    反对
    回复
    收藏
王俊杰2017 注册会员
  • 粉丝

    0

  • 关注

    0

  • 主题

    28