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Huya Inc. (NYSE: HUYA) announced its financial results for the fourth quarter and full year of 2022 on March 21, 2023. 

The financial report shows that Huya's revenue in 2022 was RMB 9.2205 billion, down 18.77% from RMB 11.3514 billion in 2021. Huya's net loss in 2022 was RMB 486.7 million, while its net profit in 2021 was RMB 583.5 million. Under non-GAAP (Non-GAAP), the net loss was RMB 281.4 million, while its net profit in 2021 was RMB 454.4 million.

The company's revenue for the fourth quarter of 2022 was RMB 2.1022 billion, down 25.15% from RMB 2.8087 billion yuan in the same period of 2021. Net loss for the quarter came in at 524.4 billion yuan, compared to 312.7 billion yuan a year ago.  

In the fourth quarter of 2022, Huya failed to reverse the downward trend in performance since the start of the year, reporting decline in both revenue and profit. This is partly due to the overall slowdown in growth in the e-sports industry. 

The 2022 China E-Sports Industry Report shows that China's e-sports industry revenue in 2022 was RMB 144.503 billion, representing a year-on-year decrease of 14.01%, marking the first decline in five years. The number of e-sports users in 2022 was about 488 million, showing a year-on-year decrease of 0.33%.

However, Huya achieved some progress in curbing user loss.  

In the fourth quarter of 2022, MAU of Huya Live reached 85.5 million, representing a slight increase from 85.4 million in the previous year. For the whole year, MAU was up 4% from 80.9 million in 2021 to 84.3 million. 

Huya's shares declined by 15.18% to US$3.325 per ADS on March 21st.