Our business

YY is a live streaming social media platform that enables users to interact in live online group activities through voice, text and video. YY also empowers users to create and organize groups of varying sizes to discover and participate in a wide range of online activities, including variety & talk shows, live game broadcasting, dating shows, social games, etc. With a capacity to support over one million participants concurrently, YY offers users a more immersive, enriching and engaging entertainment experience through its large live streaming platforms, primarily include YY Live and Huya broadcasting. YY attracted approximately 96.1 million and 56.0 million average monthly active users with its PC clients and mobile clients, respectively, in the three months ended December 2016.

Founded as an online game web portal in 2005, our company has transformed into a multifaceted live streaming platform in the past decade. In July 2008, YY launched its core product YY Client, a PC-based free software that allows users to create individual channels for any online live group activities that covers a broad range of interests and topics. To increase the accessibility and usage of YY Client, we introduced a mobile application, Mobile YY, in September 2010 and a browser-based version of our services in October 2012. To accelerate the monetization of our mobile platform, we introduced virtual item purchase functions on Mobile YY in October 2013. Since the beginning of 2015, we have been operating our live game broadcasting business under a stand-alone brand, Huya, which includes Huya.com and its corresponding mobile application Huya Live. In August 2015, we launched a new brand, Zhiniu, with its own domain name Zhiniu8.com and mobile application Zhiniu Finance, for the finance related contents on our platforms. In the third quarter of 2016, we integrated our live streaming services under our two well-established live streaming platforms, YY Live and Huya broadcasting. We offer live streaming services through a variety of websites, PC clients and mobile applications. We also operate Duowan.com, a game media website that provides access to and interactive resources for online games.

Our operations rely on proprietary technology and industry know-how. YY is supported by our highly scalable infrastructure throughout China and our proprietary algorithms enabling low latency, low jitter and low loss rates in delivering voice and video data.

While the basic use of our platforms is currently free, we mainly monetize our user base through sales of virtual items for live streaming. We also generate revenues through our membership program whereby users pay a fixed fee to enjoy certain privileges and regular bonus packages, and game token for online games. We primarily generate online advertising and promotion revenues from sales of various forms of advertising and provision of promotion campaigns on our live streaming platforms by way of advertisement display or integrated promotion activities in shows and programs on our live stream platforms. We believe that we will be able to capitalize on the large and highly engaged user base of our platforms by exploring additional monetization opportunities and diversifying our revenue sources.

Our total net revenues were RMB3,678.4 million, RMB5,897.2 million and RMB8,204.1 million (US$1,181.6 million) in 2014, 2015 and 2016 respectively. We had a net income of RMB1,064.5 million, RMB998.3 million and RMB1,511.6 million (US$217.7 million) in 2014, 2015 and 2016 respectively.

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