The era of Happy gathering announced that the share price of 5.75 million additional shares of ADS once fell by more than 9%.

on the evening of August 15, shares of Huan Ju Times fell sharply after the opening of trading on Tuesday, falling more than 9% at the beginning of the day, and are now slightly up and down 6.22%, down US $5.01 to US $75.57 per share. The company yesterday announced the issuance of an additional 5.75 million American depositary shares (ADS).

on the evening of August 15, shares of Huan Ju Times fell sharply after the opening of trading on Tuesday, falling more than 9% at the beginning of the day, and are now slightly up and down 6.22%, down US $5.01, to US $75.57 per share. The company yesterday announced the issuance of an additional 5.75 million American depositary shares (ADS).

Happy Times announced on Monday that it will issue an additional 5.75 million American depositary shares (ADS). Each American depositary share represents 20 Class A common shares of the company.

on August 10th, Huanju Times released its results for the second quarter of fiscal year 2016, which ended June 30. Net revenue in the second quarter was 2.609 billion yuan ($384.8 million), up 31.7% from 1.9808 billion yuan in the same period last year, according to the financial report. The net profit attributed to the time of happy gathering was 573.7 million yuan ($84.6 million), an increase of 67.1 percent over 343.3 million yuan in the same period last year.

< strong > main results in the second quarter < / strong >

-net revenue was 2.609 billion yuan ($384.8 million), up 31.7% from 1.9808 billion yuan in the same period last year.

-the net profit attributed to the happy gathering era was 573.7 million yuan ($84.6 million), an increase of 67.1 percent from 343.3 million yuan in the same period last year.

-excluding US general accounting standards (excluding equity incentive expenses), Happy Times's second-quarter net profit was 597.2 million yuan ($88.1 million), up 55.2% from 384.8 million yuan in the same period last year.

Chairman and acting CEO Li Xueling said: "I am pleased to be back as acting CEO and we are pleased to announce that the company has achieved another quarter of both financial and operating performance growth. The live streaming business, including YY Live and Huya TV, maintained rapid growth in the second quarter of 2017. The number of monthly active users of our mobile live streaming increased by 27.1% year on year to 66.1 million, while the number of paid users of our live streaming increased by 46.1% to more than 5.7 million. In particular, on YY Live, our new strategic initiative has produced good results.

in April 2017, we launched a small online social game, werewolf killing. The game quickly became popular after its launch and quickly became a leading social game on mobile devices. In the second quarter, we also launched YY Live short video service, which has more diversified content and social functions, which further enhances the user engagement and stickiness on our platform. In addition to YY Live, Huya TV has also achieved exciting results in terms of user growth and revenue growth. All of these achievements consolidate our leading position in China's streaming social media industry. Looking ahead, we will continue to expand our products and services on our streaming social media platform, find new and innovative ways to attract users and service users, and stick to our commitment to create value for our shareholders.

CFO Jin Bing further commented: "We once again achieved considerable financial growth in the second quarter of 2017. Our total net income rose 31.7% year-on-year to 260.9 million yuan, exceeding the high-end level of the previous guidance range. This is mainly due to the 42.9% year-on-year increase in our live streaming revenue, which reached 237.34 million yuan in the quarter. Both YY Live and Huya TV have contributed to our rapid revenue growth.

YY Live's revenue growth accelerated after we embedded a new feature called "Happy Competition" in YY Live. Happy contest is a function that allows live streaming anchors to connect and compete with each other in different rooms. In the second quarter of 2017, non-GAAP net profit rose 55.2% year-on-year to 597.2 million yuan, of which Huya TV's non-GAAP operating loss fell from 146.6 million yuan to 111 million yuan.

our non-GAAP net profit margin rose from 19.4% in the second quarter of 2016 to 22.9% in the second quarter of 2017, as we increased operational leverage and strengthened control over product costs and expenses. We will continue to strive to expand our market share and maintain our rapid growth. At the same time, we seek to further increase our income and closely monitor our expenditure to ensure an effective return on investment. "

Edit: mary