Categories AlphaGraphs, Earnings
Huya (HUYA) names Catherine Xiaozheng new CFO, to replace Henry Sha
Less than a month after reporting positive third-quarter results, China-based esports streaming platform Huya Inc. (NYSE: HUYA) Friday announced the appointment of Catherine Xiaozheng Liu as chief financial officer. Replacing Henry Dachuan Sha in her new role, Liu will be assuming office immediately.
Liu, who has significant experience in corporate finance and capital market, most recently served Yixin Group as chief financial officer. Earlier, she worked for Qihoo 360 Technology as chief strategy officer. Between 2011 and 2015, Liu was the head of the China Technology Investment Banking Division at the Hong Kong division of Credit Suisse.
“With her strong track records in capital markets, corporate finance and management, we believe Catherine will be a great addition to our management team and will bring rich experience for Huya’s future development. Also we would like to thank Henry for his valuable contributions in our IPO and several critical transactions,” said Huya’s CEO Rongjie Dong.
Henry Sha, who stepped down as CFO citing personal reasons, said during the latest earnings conference call that the management would continue with the strategy of diversifying the revenue stream with focus on non-core areas of the business. That would probably be the task Liu would take up with priority in her new role.
Huya has registered a steady increase in the number of active users, which translated into strong revenue growth in recent quarters. The market is bullish about the company’s long-term prospects and predicts stable earnings growth during the remainder of the year and beyond. For the third quarter, Huya reported earnings of $0.12 per share, which topped the Street view. At $317 million, revenues were up 77%.
Huya shares closed the last session slightly higher at the New York Stock Exchange. The stock has witnessed high volatility since its Wall Street debt in 2018 and is trading about 60% below the record high seen more than a year ago.
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