Our performance

YY has seen excellent growth in the past six years, especially following the monetization of the music business in March 2011. In the six years between 2010 and 2015, total revenue increased by 115% and gross profit grew 163% annually on a compound basis. YY has also diversified from a gaming-led technology business to a leading live streaming platform through the continued development and introduction of new initiatives.

Our performance

YY Live, one of our two live streaming segments which includes music and entertainment, online dating, PK Show, and finance, has delivered exceptional growth since it was launched in March 2011. It has been the key driver of the Company’s outstanding performance in the past couple of years. Its revenue surged from US$8.4m in 2011 to US$645.8m in 2015, delivering a compound annual growth rate of 196%. It surpassed online games in 2013 and became our biggest business segment. In 2015, 71% of our total revenues were from YY Live.  In the third quarter of 2016, the number of paying users on YY Live has reached 3.1 million.

Huya broadcasting, one of our two live streaming segments that focuses on live game broadcasting, was launched in early 2013 and has since became the leader in this market. We rebranded our live game broadcasting business to Huya broadcasting in November 2014 in order to establish a strong brand in this competitive market. In 2015, revenues from Huya broadcasting increased by 132% annually. In the third quarter of 2016, the number of paying users on Huya broadcasting has reached 1.3 million. 

Our non-live streaming businesses also generate substantial revenue for the Company. For online games, we receive revenues by selling virtual items in the games we operate. In addition, we also generate education revenue from our online education business, advertising revenue from duowan.com, our online game media portal, and membership revenue from our membership program. 

YY is a highly cash-generative business. In the fiscal year of 2015, it delivered US$357.8m gross profit and US$208.0m non-GAAP operating profit, equivalent to 39.3% and 22.8% margin, respectively. For fiscal year 2015, Non-GAAP net income was US$3.34 per American Depository Share.

We generated US$281.5m net cash from operating activities for the full year of 2015. As of the end of 2015, we have cash balance of US$496.0m.

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