On the evening of March 19th Beijing time, Huya Company (NYSE: HUYA) released its financial reports for the fourth quarter and full year of 2023. According to the financial report, the total revenue of Huya Company for the whole year of 2023 was 7 billion yuan; Under non US GAAP accounting standards, the net profit attributable to Huya Company for the year was 120 million yuan, turning losses into profits year-on-year; In terms of user data, the average monthly active users of Huya Live Mobile reached 84.1 million throughout the year. In the fourth quarter of 2023, Huya Company's total revenue was 1.53 billion yuan, and the mobile MAU of Huya Live reached 85.5 million in that quarter.
Huya Company also announced that its board of directors has approved the distribution of a special cash dividend of $0.66 per ordinary share or ADS (American Depositary Shares), which will be paid in US dollars to the registered ordinary shareholders and ADS holders who will be closed on May 10, 2024. The ex dividend date is May 9th, 2024. The total amount of cash expected for this dividend distribution is approximately $150 million, which will be paid through the company's surplus cash. The expected payment date is May 24, 2024 or around.
Previously, the board of directors of Huya Company authorized a stock repurchase plan on August 15, 2023, to repurchase up to $100 million worth of stocks within the following 12 months. As of December 31, 2023, Huya has repurchased 9.2 million shares of ADS, totaling $28.8 million.
Huang Junhong, Acting Co CEO and Senior Vice President of Huya Company, stated, "In the fourth quarter of 2023, we will continue to provide users with rich gaming and esports content, while upgrading interactive functions to enhance the viewing experience. At the same time, we have made good progress in optimizing and upgrading technology, products, and operational strategies, thereby providing users with more innovative game related services. Therefore, the user level of Huya Live has remained stable this quarter, with an average mobile MAU of 85.5 million. Thanks to more users paying for our platform's newly launched game related services, the paid users of Huya Live have slightly increased to 4.3 million in the fourth quarter. Despite rapid changes in the market situation, entering 2024, We will continue to consolidate our company's core live streaming business while promoting the development of game related services to expand our business scope and increase new sources of revenue. With the steady implementation of our strategic transformation, we are confident in our future business prospects
Wu Xin, Acting Co CEO and Vice President of Finance of Huya Company, stated, "Given the current industry environment and our proactive business adjustments, Huya Company's live streaming revenue has contracted in the fourth quarter. Nevertheless, we are pleased to see advertising and other business revenue increase by 40.5% month on month and 29.2% year-on-year. This is mainly due to our deepening cooperation with game companies, which has promoted the growth of game advertising and distribution service revenue. In 2023, Huya Company's total revenue was RMB 7 billion. Through continuous and comprehensive efforts to improve cost efficiency and operational levels, we have achieved year-on-year increases in various profit margins. At the same time, we are committed to continuously improving shareholder value through rigorous capital allocation as of the end of 2023." "We have repurchased $28.8 million worth of Huya shares. In addition, we will distribute a special cash dividend of approximately $150 million to shareholders. Looking ahead, we will continue to strengthen our operational and financial capabilities to promote sustainable development."