虎牙2023年Q2財報-英

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HUYAInc.ReportsSecondQuarter2023UnauditedFinancialResults

GUANGZHOU,China,August15,2023/PRNewswire/--HUYAInc.(“Huya”orthe“Company”)(NYSE:HUYA),aleadinggamelivestreamingplatforminChina,todayannounceditsunauditedfinancialresultsforthesecondquarterendedJune30,2023.

SecondQuarter2023Highlights

.Totalnetrevenuesforthesecondquarterof2023wereRMB1,821.4million(US$251.2million),comparedwithRMB2,275.2millionforthesameperiodof2022.

.NetincomeattributabletoHUYAInc.wasRMB23.2million(US$3.2million)forthesecondquarterof2023,comparedwithanetlossattributabletoHUYAInc.ofRMB19.4millionforthesameperiodof2022.

.Non-GAAPnetincomeattributabletoHUYAInc.1wasRMB115.1million(US$15.9million)forthesecondquarterof2023,comparedwithRMB5.9millionforthesameperiodof2022.

.AveragemobileMAUs2ofHuyaLiveforthesecondquarterof2023was82.9million,comparedwith83.6millionforthesameperiodof2022.

“Althoughtheimpactofincreasingofflinerecreationalactivitiesamongouruserscontinuedintothesecondquarterof2023,wemaintainedastableuserbasethroughourongoingeffortstoenriche-sports,gameandentertainmentcontent.WearepleasedtoreportthatHuyaLive’saveragemobileMAUsreached82.9millionforthesecondquarter,aslightimprovementfrom82.1millionforthepreviousquarter,”saidMr.JunhongHuang,ActingCo-ChiefExecutiveOfficerandSeniorVicePresidentofHuya.“Aswedriveourstrategictransformation,wewillbuildonourwell-establishedusercommunityandcontentecosystem,strivingtoexpandourroleinthegameindustry.Withourcommitmenttoofferingmoregame-relatedservicesgoingforward,webelieveHuyaiswellpositionedtoservetheinterestsofmoreusers,contentcreatorsandindustrypartners,underpinningoursustainablebusinessdevelopment.”

Ms.AshleyXinWu,ActingCo-ChiefExecutiveOfficerandVicePresidentofFinanceofHuya,commented,“Inthesecondquarter,wecontinuedtomakeprogressinoptimizingcostsandexpenses.WhileoursecondquartertotalnetrevenueswereRMB1.8billionamidthesoftindustryenvironment,ourgrossmarginincreasedto15.0%,andnetincomereachedRMB23.2million.Eventhoughourproactivebusinessadjustmentsenactedforourstrategictransformationmaycausesomenear-termvolatilityinouroperatingandfinancialmetrics,weareconfidentaboutHuya’slong-termprospectsasweareforgingamorebalanceddevelopmentpathwaywithamorediverserevenuemix.”

SecondQuarter2023FinancialResults

1“Non-GAAPnetincomeattributabletoHUYAInc.”isdefinedasnetincome(loss)attributabletoHUYAInc.excludingshare-basedcompensationexpenses,gainonfairvaluechangeofinvestments,netofincometaxes,andimpairmentlossofinvestments,totheextentapplicable.Formoreinformation,pleaserefertothesectiontitled"UseofNon-GAAPFinancialMeasures"andthetablecaptioned"HUYAInc.UnauditedReconciliationsofGAAPandNon-GAAPResults"attheendofthispressrelease.

2Referstoaveragemonthlyactiveusersonmobileapps.AveragemobileMAUsforanyperiodiscalculatedbydividing(i)thesumofactiveusersonthemobileappsforeachmonthduringsuchrelevantperiod,by(ii)thenumberofmonthsduringsuchrelevantperiod.

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Totalnetrevenuesforthesecondquarterof2023wereRMB1,821.4million(US$251.2million),comparedwithRMB2,275.2millionforthesameperiodof2022.

LivestreamingrevenueswereRMB1,715.7million(US$236.6million)forthesecondquarterof2023,comparedwithRMB2,051.9millionforthesameperiodof2022,primarilyduetoadecreaseinthenumberofquarterlypayingusers；onHuyaLiveto4.6millionforthesecondquarterof2023from5.6millionforthesameperiodof2022.Thedeclineinthenumberofquarterlypayinguserswasprimarilyattributabletothesoftmacroandindustryenvironment,aswellastheincreaseinofflineentertainmentactivities,whichadverselyaffectedthetimespentbylong-tailusersonHuya’splatform.

AdvertisingandotherrevenueswereRMB105.8million(US$14.6million)forthesecondquarterof2023,comparedwithRMB223.3millionforthesameperiodof2022,primarilyduetoasignificantdecreaseincontentsub-licensingrevenues.

Costofrevenuesdecreasedby24.7%toRMB1,548.4million(US$213.5million)forthesecondquarterof2023fromRMB2,056.1millionforthesameperiodof2022,primarilyduetodecreasedrevenuesharingfeesandcontentcosts,aswellasbandwidthcosts.

Revenuesharingfeesandcontentcostsdecreasedby24.3%toRMB1,337.7million(US$184.5million)forthesecondquarterof2023fromRMB1,767.8millionforthesameperiodof2022,primarilyduetothedecreaseinrevenuesharingfeesassociatedwiththedeclineinlivestreamingrevenues,andlowercostsrelatedtoe-sportscontentaswellascontentcreators.

Bandwidthcostsdecreasedby34.3%toRMB101.4million(US$14.0million)forthesecondquarterof2023fromRMB154.4millionforthesameperiodof2022,primarilyduetoimprovedbandwidthcostmanagementandcontinuedtechnologyenhancementefforts.

GrossprofitwasRMB273.0million(US$37.7million)forthesecondquarterof2023,comparedwithRMB219.1millionforthesameperiodof2022.Grossmarginwas15.0%forthesecondquarterof2023,comparedwith9.6%forthesameperiodof2022,primarilyduetodecreasedrevenuesharingfeesandcontentcostsasapercentageoftotalnetrevenues.

Researchanddevelopmentexpensesdecreasedby14.3%toRMB144.3million(US$19.9million)forthesecondquarterof2023fromRMB168.4millionforthesameperiodof2022,primarilyduetodecreasedpersonnel-relatedexpenses.

Salesandmarketingexpensesincreasedby6.1%toRMB106.4million(US$14.7million)forthesecondquarterof2023fromRMB100.3millionforthesameperiodof2022,primarilyduetoincreasedpromotionfees.

Generalandadministrativeexpensesdecreasedby8.5%toRMB74.9million(US$10.3million)forthesecondquarterof2023fromRMB81.8millionforthesameperiodof2022,primarilyduetodecreasedpersonnel-relatedexpensesandshare-basedcompensationexpenses.

3Referstothesumofuseraccountsthatpurchasedvariousproductsandservicesonourplatformatleastonceduringsuchrelevantperiod.

OtherincomewasRMB23.8million(US$3.3million)forthesecondquarterof2023,comparedwithRMB50.3millionforthesameperiodof2022,primarilyduetolowerindirecttaxrefundsandgovernmentsubsidies.

OperatinglosswasRMB28.8million(US$4.0million)forthesecondquarterof2023,comparedwithRMB81.1millionforthesameperiodof2022.

Interestandshort-terminvestmentsincomewereRMB125.3million(US$17.3million)forthesecondquarterof2023,comparedwithRMB65.6millionforthesameperiodof2022,primarilyduetoincreasedinterestratesandimprovedmanagementofdepositproducts.

ImpairmentlossofinvestmentswasRMB65.1million(US$9.0million)forthesecondquarterof2023,comparedwithnilforthesameperiodof2022,primarilyduetotherecognitionofimpairmentchargesonseveralequityinvestments.

NetincomeattributabletoHUYAInc.wasRMB23.2million(US$3.2million)forthesecondquarterof2023,comparedwithanetlossattributabletoHUYAInc.ofRMB19.4millionforthesameperiodof2022.

Non-GAAPnetincomeattributabletoHUYAInc.wasRMB115.1million(US$15.9million)forthesecondquarterof2023,comparedwithRMB5.9millionforthesameperiodof2022.

BasicanddilutednetincomeperAmericandepositaryshare(“ADS”)wereRMB0.10(US$0.01)andRMB0.09(US$0.01),respectively,forthesecondquarterof2023.BasicanddilutednetlossperADSwereeachRMB0.08forthesecondquarterof2022.EachADSrepresentsoneClassAordinaryshareoftheCompany.

Non-GAAPbasicanddilutednetincomeperADSwereRMB0.47(US$0.07)andRMB0.47(US$0.06),respectively,forthesecondquarterof2023.Non-GAAPbasicanddilutednetincomeperADSwereeachRMB0.02forthesecondquarterof2022.

AsofJune30,2023,theCompanyhadcashandcashequivalents,short-termdepositsandlong-termdepositsofRMB10,846.4million(US$1,495.8million),comparedwithRMB10,347.6millionasofMarch31,2023.

ShareRepurchaseProgram

OnAugust15,2023,theCompany’sboardofdirectorsauthorizedasharerepurchaseprogramunderwhichtheCompanymayrepurchaseuptoUS$100millionofitsADSsorordinarysharesoverthenext12months.Thesharerepurchasesmaybemadefromtimetotimeintheopenmarketatprevailingmarketprices,inprivatelynegotiatedtransactions,inblocktradesand/orthroughotherlegallypermissiblemeans,dependingonmarketconditionsandinaccordancewithapplicablerulesandregulations.TheCompany’sboardofdirectorswillreviewthesharerepurchaseprogramperiodically,andmayauthorizeadjustmentofitstermsandsize.TheCompanyexpectstofundrepurchasesmadeunderthisprogramfromitsexistingfunds.

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ConferenceCall

TheCompany’smanagementwillhostanearningsconferencecallat8:00a.m.U.S.EasternTimeonAugust15,2023(8:00p.m.Beijing/HongKongtimeonAugust15,2023).

Forparticipantswhowishtojointhecall,pleasecompleteonlineregistrationusingthelinkprovidedbelow20minutespriortothescheduledcallstarttime.Uponregistration,participantswillreceivetheconferencecallaccessinformation,includingdial-innumbers,apersonalPINandane-mailwithdetailedinstructionstojointheconferencecall.

ParticipantOnlineRegistration:

/register/BIcf80892cbf63431d9fde07053cb07bd4

Onceregistrationiscomplete,pleasedialinatleast10minutesbeforethescheduledstarttimeoftheearningscallandenterthepersonalPINasinstructedtoconnecttothecall.

Alivewebcastoftheearningscallwillbeaccessibleat

andareplayofthewebcastwillbeavailablefollowingthesession.

AboutHUYAInc.

HUYAInc.isaleadinggamelivestreamingplatforminChinawithalargeandactivegamelivestreamingcommunity.TheCompanycooperateswithe-sportseventorganizers,aswellasmajorgamedevelopersandpublishers,andhasdevelopede-sportslivestreamingasoneofthemostpopularcontentgenresonitsplatform.TheCompanyhascreatedanengaged,interactiveandimmersivecommunityforgameenthusiastsofChina'syounggeneration.Buildingonitssuccessingamelivestreaming,Huyahasalsoextendeditscontenttootherentertainmentcontentgenres.Huya'sopenplatformalsofunctionsasamarketplaceforbroadcastersandtalentagenciestocongregateandcloselycollaboratewiththeCompany.

UseofNon-GAAPFinancialMeasures

TheunauditedcondensedconsolidatedfinancialinformationispreparedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica("U.S.GAAP"),exceptthattheconsolidatedstatementofchangesinshareholders'equity,consolidatedstatementsofcashflows,andthedetailednoteshavenotbeenpresented.Huyausesnon-GAAPgrossprofit,non-GAAPoperatingloss,non-GAAPnetincomeattributabletoHUYAInc.,non-GAAPnetincomeattributabletoordinaryshareholders,non-GAAPbasicanddilutednetincomeperordinaryshares,andnon-GAAPbasicanddilutednetincomeperADS,whicharenon-GAAPfinancialmeasures.Non-GAAPgrossprofitisgrossprofitexcludingshare-basedcompensationexpensesallocatedincostofrevenues.Non-GAAPoperatinglossisoperatinglossexcludingshare-basedcompensationexpenses.Non-GAAPnetincomeattributabletoHUYAInc.isnet(loss)incomeattributabletoHUYAInc.excludingshare-basedcompensationexpenses,gainonfairvaluechangeofinvestments,netofincometaxes,andimpairmentlossofinvestments,totheextentapplicable.Non-GAAPnetincomeattributabletoordinaryshareholdersisnet(loss)incomeattributabletoordinaryshareholdersexcludingshare-basedcompensationexpenses,gainonfairvaluechangeofinvestments,netofincometaxes,andimpairmentlossofinvestments,totheextentapplicable.Non-GAAPbasicanddilutednetincomeperADSisnon-

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GAAPnetincomeattributabletoordinaryshareholdersdividedbyweightedaveragenumberofADSusedinthecalculationofnon-GAAPbasicanddilutednetincomeperADS.TheCompanybelievesthatseparateanalysisandexclusionoftheimpactof(i)share-basedcompensationexpenses,(ii)gainonfairvaluechangeofinvestments,netofincometaxes,and(iii)impairmentlossofinvestments,addclaritytotheconstituentpartsofitsperformance.TheCompanyreviewsthesenon-GAAPfinancialmeasurestogetherwithGAAPfinancialmeasurestoobtainabetterunderstandingofitsoperatingperformance.Itusesthenon-GAAPfinancialmeasuresforplanning,forecastingandmeasuringresultsagainsttheforecast.TheCompanybelievesthatnon-GAAPfinancialmeasuresrepresentusefulsupplementalinformationforinvestorsandanalyststoassessitsoperatingperformancewithouttheeffectof(i)share-basedcompensationexpenses,whichhavebeenandwillcontinuetobesignificantrecurringexpensesinitsbusiness,and(ii)gainonfairvaluechangeofinvestments,netofincometaxes,and(iii)impairmentlossofinvestments,whichmayrecurwhenthereisobservablepricechangeinthefuture.However,theuseofnon-GAAPfinancialmeasureshasmateriallimitationsasananalyticaltool.Oneofthelimitationsofusingnon-GAAPfinancialmeasuresisthattheydonotincludeallitemsthatimpacttheCompany'snet(loss)incomefortheperiod.Inaddition,becausenon-GAAPfinancialmeasuresarenotmeasuredinthesamemannerbyallcompanies,theymaynotbecomparable

toothersimilartitledmeasuresusedbyothercompanies.Inlightoftheforegoinglimitations,youshouldnotconsideranon-GAAPfinancialmeasureinisolationfromorasanalternativetothefinancialmeasurespreparedinaccordancewithU.S.GAAP.

Thepresentationofthesenon-GAAPfinancialmeasuresisnotintendedtobeconsideredinisolationfrom,orasasubstitutefor,thefinancialinformationpreparedandpresentedinaccordancewithU.S.

GAAP.Formoreinformationonthesenon-GAAPfinancialmeasures,pleaseseethetablecaptioned"HUYAInc.UnauditedReconciliationsofGAAPandNon-GAAPResults"attheendofthisannouncement.

ExchangeRateInformation

ThisannouncementcontainstranslationsofcertainRMBamountsintoU.S.dollarsataspecifiedratesolelyfortheconvenienceofthereader.Unlessotherwisenoted,alltranslationsfromRMBtoU.S.dollarsaremadeatarateofRMB7.2513toUS$1.00,thenoonbuyingrateineffectonJune30,2023,intheH.10statisticalreleaseoftheFederalReserveBoard.TheCompanymakesnorepresentationthattheRenminbiorU.S.dollarsamountsreferredtointhisannouncementcouldhavebeenorcouldbeconvertedintoU.S.dollarsorRenminbi,asthecasemaybe,atanyparticularrateoratall.

SafeHarborStatement

Thisannouncementcontainsforward-lookingstatements.Thesestatementsaremadeunderthe"safeharbor"provisionsoftheU.S.PrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatementscanbeidentifiedbyterminologysuchas"will,""expects,""anticipates,""future,""intends,""plans,""believes,""estimates"andsimilarstatements.Amongotherthings,thequotationsfrommanagementinthisannouncement,aswellasHuya'sstrategicandoperationalplans,containforward-lookingstatements.Huyamayalsomakewrittenororalforward-lookingstatementsinitsperiodicreportstotheU.S.SecuritiesandExchangeCommission("SEC"),initsannualreporttoshareholders,inpressreleasesandotherwrittenmaterialsandinoralstatementsmadebyitsofficers,directorsoremployeestothirdparties.Statementsthatarenothistoricalfacts,includingstatements

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aboutHuya'sbeliefsandexpectations,areforward-lookingstatements.Forward-lookingstatementsinvolveinherentrisksanduncertainties.Anumberoffactorscouldcauseactualresultstodiffermateriallyfromthosecontainedinanyforward-lookingstatement,includingbutnotlimitedtothefollowing:Huya'sgoalsandstrategies;Huya'sfuturebusinessdevelopment,resultsofoperationsandfinancialcondition;theexpectedgrowthofthegamelivestreamingmarket;theexpectationregardingtherateatwhichtogainactiveusers,especiallypayingusers;Huya'sabilitytomonetizetheuserbase;Huya’seffortsincomplyingwithapplicabledataprivacyandsecurityregulations;fluctuationsingeneraleconomicandbusinessconditionsinChina;theimpactoftheCOVID-19toHuya'sbusinessoperationsandtheeconomyinChinaandelsewheregenerally;anyregulatorydevelopmentsinlaws,regulations,rules,policiesorguidelinesapplicabletoHuya;andassumptionsunderlyingorrelatedtoanyoftheforegoing.FurtherinformationregardingtheseandotherrisksisincludedinHuya'sfilingswiththeSEC.Allinformationprovidedinthispressreleaseandintheattachmentsisasofthedateofthispressrelease,andHuyadoesnotundertakeanyobligationtoupdateanyforward-lookingstatement,exceptasrequiredunderapplicablelaw.

Forinvestorandmediainquiries,pleasecontact:

InChina:

HUYAInc.

InvestorRelations

Tel:+86-20-2290-7829

E-mail:ir@

PiacenteFinancialCommunications

JennyCai

Tel:+86-10-6508-0677

E-mail:huya@

IntheUnitedStates:

PiacenteFinancialCommunications

BrandiPiacente

Tel:+1-212-481-2050

E-mail:huya@

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RMB

692,089

21,217

8,330,606

-

69,204

54,454

593,253

9,760,823

3,487,628

13,248,451

11,938

274,410

HUYAINC.

UNAUDITEDCONDENSEDCONSOLIDATEDBALANCESHEETS

(Allamountsinthousands,exceptshare,ADS,persharedataandperADSdata)

AsofDecember31,

AsofJune30,

Assets

Currentassets

Cashandcashequivalents

Restrictedcash

Short-termdeposits

Short-terminvestments

Accountsreceivable,net

Amountsduefromrelatedparties,net

Prepaymentsandothercurrentassets,net

Totalcurrentassets

Non-currentassets

Long-termdeposits

Investments

Propertyandequipment,net

Intangibleassets,net

Right-of-useassets,net

Prepaymentsandothernon-currentassets

Totalnon-currentassets

Totalassets

Liabilitiesandshareholders’equity

Currentliabilities

Accountspayable

Advancesfromcustomersanddeferredrevenue

Incometaxespayable

Accruedliabilitiesandothercurrentliabilities

Amountsduetorelatedparties

Leaseliabilitiesduewithinoneyear

Totalcurrentliabilities

Non-currentliabilities

Leaseliabilities

Deferredtaxliabilities

Deferredrevenue

Totalnon-currentliabilities

Totalliabilities

2022

RMB

655,241

4,050

9,018,298

3,117

75,898

59,702

637,225

10,453,531

1,072,548

906,215

200,893

57,810

345,136

110,874

2,693,476

13,147,007

22,517

445,620

28,924

1,592,455

81,814

29,801

2,201,131

8,617

20,533

73,354

102,504

2,303,635

2023

2023

US$

95,443

2,926

1,148,843

-

9,544

7,510

81,813

1,346,079

1,823,741

937,104

248,564

46,912

325,646

105,661

251,505

129,233

34,279

6,469

44,909

14,571

480,966

1,827,045

7,643

54,517

5,738

179,713

12,665

2,196

55,423

395,322

41,608

1,303,155

91,838

15,926

262,472

1,903,272

750

2,832

8,356

5,441

20,533

60,594

86,568

1,989,840

8

RMB

60

9811,990,406 122,429(1,718,785)864,403

11,258,611

13,248,451

HUYAINC.

UNAUDITEDCONDENSEDCONSOLIDATEDBALANCESHEETS(CONTINUED)

(Allamountsinthousands,exceptshare,ADS,persharedataandperADSdata)

AsofDecember31,

AsofJune30,

Shareholders’equity

ClassAordinaryshares(US$0.0001parvalue;

750,000,000sharesauthorizedasofDecember31,2022andJune30,2023,respectively;

89,401,484and90,302,271sharesissuedandoutstandingasofDecember31,2022andJune30,2023,respectively)

ClassBordinaryshares(US$0.0001parvalue;

200,000,000sharesauthorizedasofDecember31,2022andJune30,2023,respectively;

150,386,517and150,386,517sharesissuedandoutstandingasofDecember31,2022andJune

30,2023,respectively)

Additionalpaid-incapital

Statutoryreserves

Accumulateddeficit

Accumulatedothercomprehensiveincome

Totalshareholders’equity

Totalliabilitiesandshareholders’equity

2022

RMB

60

9811,922,820 122,429(1,786,800)584,765

10,843,372

13,147,007

2023

2023

US$

8

141,653,553 16,884(237,031)119,207

1,552,635

1,827,045

9

HUYAINC.

UNAUDITEDCONDENSEDCONSOLIDATEDSTATEMENTSOFOPERATIONS

(Allamountsinthousands,exceptshare,ADS,persharedataandperADSdata)

ThreeMonthsEndedSixMonthsEndedJune30,March31,June30,June30,June30,June30,June30,

2022202320232023202220232023

RMBRMBRMBUS$RMBRMBUS$

Netrevenues

Livestreaming2,051,9201,859,9241,715,684236,6044,203,6243,575,608493,099

Advertisingandothers223,25489,318105,75714,585536,101195,07526,902

Totalnetrevenues2,275,1741,949,2421,821,441251,1894,739,7253,770,683520,001

Costofrevenues(1)(2,056,054)(1,692,765)(1,548,407)(213,535)(4,187,028)(3,241,172)(446,978)

Grossprofit

219,120256,477273,03437,654552,697529,51173,023

Operatingexpenses(1)

Researchanddevelopmentexpenses

(168,411)(152,443)(144,339)(19,905)(364,662)(296,782)(40,928)

Salesandmarketingexpenses

(100,264)(91,235)(106,411)(14,675)(245,329)(197,646)(27,257)

Generalandadministrativeexpenses

(81,839)(67,684)(74,858)(10,323)(162,613)(142,542)(19,657)

Totaloperatingexpenses(350,514)(311,362)(325,608)(44,903)(772,604)(636,970)(87,842)

Otherincome,net50,2834,17623,7863,28078,56127,9623,856

Operatingloss(81,111)(50,709)(28,788)(3,969)(141,346)(79,497)(10,963)

Interestandshort-terminvestmentsincome65,63396,355125,31317,281124,835221,66830,569

Gainonfairvaluechangeofinvestments----7,602--

Impairmentlossofinvestments--(65,115)(8,980)-(65,115)(8,980)

Foreigncurrencyexchange(losses)gains,

net(2,860)463(2,634)(363)(2,924)(2,171)(299)

(Loss)incomebeforeincometaxexpenses(18,338)46,10928,7763,969(11,833)74,88510,327

Incometaxexpenses(1,295)(1,281)(5,589)(771)(10,696)(6,870)(947)

(Loss)incomebeforeshareofincome(loss)

inequitymethodinvestments,netof

incometaxes(19,633)44,82823,1873,198(22,529)68,0159,380

Shareofincome(loss)inequitymethod

investments,netofincometaxes267---(151)--

Net(loss)incomeattributabletoHUYAInc.(19,366)44,82823,1873,198(22,680)68,0159,380

Net(loss)incomeattributabletoordinary

shareholders(19,366)44,82823,1873,198(22,680)68,0159,380

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HUYAINC.

UNAUDITEDCONDENSEDCONSOLIDATEDSTATEMENTSOFOPERATIONS(CONTINUED)

(Allamountsinthousands,exceptshare,ADS,persharedataandperADSdata)

ThreeMonthsEnded

SixMonthsEnded

June30,

2022

March31,

2023

June30,

2023

June30,

2023

June30,

2022

June30,

2023

June30,2023

Net(loss)incomeperADS*

—Basic

—Diluted

Net(loss)incomeperordinaryshare

—Basic

—Diluted

WeightedaveragenumberofADSusedincalculatingnet(loss)incomeperADS

—Basic

—Diluted

RMB

(0.08)(0.08)

(0.08)(0.08)

241,341,080

241,341,080

RMB

0.180.18

0.180.18

242,786,3