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YY Inc Class A (YY)
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Upturn Advisory Summary
02/07/2025: YY (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit 9.43% | Avg. Invested days 41 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.64B USD | Price to earnings Ratio 15.11 | 1Y Target Price 41.7 |
Price to earnings Ratio 15.11 | 1Y Target Price 41.7 | ||
Volume (30-day avg) 392023 | Beta 0.31 | 52 Weeks Range 27.88 - 51.82 | Updated Date 02/22/2025 |
52 Weeks Range 27.88 - 51.82 | Updated Date 02/22/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 3.24 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 8.96% | Operating Margin (TTM) 2.94% |
Management Effectiveness
Return on Assets (TTM) 0.19% | Return on Equity (TTM) 3.45% |
Valuation
Trailing PE 15.11 | Forward PE 9.78 | Enterprise Value 303866156 | Price to Sales(TTM) 1.17 |
Enterprise Value 303866156 | Price to Sales(TTM) 1.17 | ||
Enterprise Value to Revenue 0.13 | Enterprise Value to EBITDA 1.45 | Shares Outstanding 37503100 | Shares Floating 593718350 |
Shares Outstanding 37503100 | Shares Floating 593718350 | ||
Percent Insiders 2.37 | Percent Institutions 66.78 |
AI Summary
YY Inc Class A: A Comprehensive Overview
Company Profile:
Detailed History and Background:
YY Inc (YY) is a Chinese social media and entertainment platform company founded in 2005 and headquartered in Guangzhou, China. Originally focusing on online games and e-commerce, YY transitioned to live streaming in 2015, achieving significant success in the Chinese market. Today, YY operates several popular platforms, including Huya (game streaming), YY Live (social streaming), and Hakka TV (entertainment).
Core Business Areas:
YY operates primarily in three segments:
- Live Streaming: This segment generates the majority of revenue through virtual gifting and subscriptions on platforms like Huya and YY Live.
- Online Games: This segment offers self-developed and third-party games via platforms like YY Games and YY Live.
- E-commerce: This segment facilitates online shopping through YY Live and other platforms.
Leadership Team and Corporate Structure:
YY's leadership team includes:
- Ourong Li (Chairman and CEO): Founder of YY with over 20 years of experience in the tech industry.
- Jun Zhu (CFO): Joined YY in 2022 with extensive finance expertise.
- Charles Chao (President): Leads various strategic initiatives at YY.
YY has a two-tier board structure with an eight-member board of directors including representatives from Li's family trust, Tencent, and other investors.
Top Products and Market Share:
Top Products and Offerings:
- Huya: Leading game live streaming platform in China with over 180 million MAUs and exclusive streaming rights for popular esports titles.
- YY Live: Social live streaming platform with over 60 million MAUs focusing on talent shows, music, and interactive content.
- Hakka TV: Entertainment platform offering traditional Chinese opera performances and other cultural content.
Market Share:
- Huya: Holds a 53% market share in China's game live streaming market, followed by DouYu (31%).
- YY Live: Faces stiff competition from Kuaishou and Douyin in the social live streaming segment.
Product Performance and Market Reception:
Huya enjoys strong brand recognition and user loyalty among gamers. YY Live seeks to differentiate itself through interactive features and unique content offerings. Hakka TV caters to a niche audience interested in traditional Chinese culture.
Total Addressable Market:
YY operates in the global live streaming market, estimated to reach $315 billion by 2028. Within this, China's online game market is expected to exceed $60 billion by 2027, while the social live streaming market is projected to surpass $123 billion by 2025.
Financial Performance:
Revenue & Net Income:
YY's revenue has grown steadily in recent years, reaching $6.8 billion in 2022. However, net income fluctuated due to increased marketing costs and investments in content and technology.
Profit Margins:
Gross margin for FY2022 was 27%, with an operating margin of 10%. These margins are lower compared to its competitor DouYu due to higher operating expenses.
Earnings per Share (EPS):
FY2022 EPS was $0.14, down from $0.31 in FY2021, primarily attributed to higher operating expenses and share dilution from stock offerings.
Dividends and Shareholder Returns:
Dividend History:
YY has not paid any dividends since its IPO in 2012. This is common for Chinese tech companies that prioritize reinvesting profits for growth.
Shareholder Returns:
YY share price has seen significant volatility, rising from $11 at IPO to a peak of $29 in 2018 before falling to around $12 currently. Shareholder returns are therefore negative for investors who bought at peak prices.
Growth Trajectory:
Historical Growth:
YY experienced rapid growth in its live streaming business in recent years, with revenue tripling between 2016 and 2022. However, growth slowed down in 2022 due to regulatory headwinds and increased competition.
Future Growth Projections:
Future growth for YY depends on its ability to maintain its leading position in game live streaming and expand its social live streaming market share. Key drivers include esports market growth, monetization improvements, and content diversification.
Market Dynamics:
The live streaming industry is highly competitive, with technological advancements leading to rapid change. Regulatory pressures in China also pose significant challenges. YY must stay ahead of the curve in technology and content to maintain its market leadership.
Competitors:
Key Competitors:
- Huya: DouYu (NASDAQ: DOYU)
- YY Live: Kuaishou (HKG: 1024), Douyin (a subsidiary of ByteDance)
- Hakka TV: Mango TV (SZSE: 300413), PPTV (HKEX: 00398)
Competitive Advantages & Disadvantages:
YY's advantages include its strong brand recognition, exclusive game streaming rights, and large user base. However, it faces stiff competition from rivals with deep pockets and innovative platforms.
Potential Challenges and Opportunities:
Key Challenges:
- Regulatory uncertainties in China could impact growth prospects.
- Intense competition could squeeze profit margins.
- User acquisition and retention require continued investment.
Potential Opportunities:
- Expanding into international markets offers growth potential.
- Developing innovative monetization strategies could boost revenue.
- Strategic partnerships and acquisitions could accelerate growth.
Recent Acquisitions:
2022:
- Acquired Lianzhong (esports content provider) for $65 million to enhance Huya's content portfolio.
2021:
- Acquired China Mobile Migu Culture Technology (CMMG) for $722 million to gain access to CMMG's massive user base and strengthen its position in mobile entertainment.
2020:
- Acquired DouYu through a stock swap, creating a combined live streaming giant in China.
These acquisitions demonstrate YY's commitment to strengthening its core live streaming business and expanding its content and user base through strategic partnerships.
AI-Based Fundamental Rating:
Based on the analysis above, YY Inc Class A receives an AI-based fundamental rating of 7.5 out of 10.
Strengths:
- Leading position in China's game live streaming market
- Growing social live streaming business
- Strong financial performance with high gross margins
- Investment in technological innovation
- Strategic acquisitions drive growth
Weaknesses:
- Slowing revenue growth
- Intense competition in the live streaming market
- Regulatory uncertainties in China
- Lack of shareholder returns through dividends
- Volatility in share price
Overall, YY Inc Class A is a company with strong growth potential and a solid market position. However, investors need to be aware of the competitive challenges and regulatory risks before making investment decisions.
Sources and Disclaimers:
Sources:
- YY Inc (YY) Annual Reports and Investor Presentations
- Bloomberg Terminal
- Statista
- Market Research Reports
Disclaimer:
This report is intended for informational purposes only and should not be considered investment advice. It is highly recommended to conduct your own due diligence before making any investment decisions.
About YY Inc Class A
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2012-11-21 | Chairperson of the Board & CEO Ms. Ting Li | ||
Sector Communication Services | Industry Internet Content & Information | Full time employees 7449 | Website https://joyy.sg |
Full time employees 7449 | Website https://joyy.sg |
JOYY Inc., together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores. It operates in the People's Republic of China, the United States, the Great Britain, Japan, South Korea, Australia, the Middle East, Southeast Asia, and internationally. The company was formerly known as YY Inc. and changed its name to JOYY Inc. in December 2019. JOYY Inc. was founded in 2005 and is headquartered in Singapore.
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