YY, Inc. (YY) Prices IPO of HUYA (HUYA) at $12/ADS

YY Inc. (NASDAQ: YY) (“YY” or the “Company”), a leading live streaming social media platform in China, today announced the pricing of the initial public offering by its majority-controlled subsidiary, HUYA Inc. (“HUYA”) of 15,000,000 American Depositary Shares ("ADSs"), each representing one Class A Ordinary Share of HUYA, at a price of US$12.00 per ADS for a total offering size of US$180.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs have been approved for listing on the NYSE and are expected to begin trading today under the ticker symbol "HUYA."

The underwriters have been granted an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an additional 2,250,000 ADSs.

Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) L.L.C., and UBS Securities LLC are acting as joint bookrunners for the offering, and Needham & Company, LLC is acting as co-manager.

HUYA's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting:

Credit Suisse Securities (USA) LLC, Attention: Prospectus Department One Madison Avenue New York, NY 10010 United States Phone: +1-800-221-1037 [email protected];

Goldman, Sachs & Co. LLC Attention: Prospectus Department 200 West Street New York, NY 10282 United States Phone: +1-212-902-1171 [email protected];

UBS Securities LLC Attention: Prospectus Department 1285 Avenue of the Americas New York, NY 10019 United States Phone: +1-888-827-7275 Email: [email protected];

Needham & Company, LLC Attention: Syndicate Prospectus Department 250 Park Avenue, 10th Floor New York, NY 10177 United States Phone: 1-800-903-3268 [email protected]

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