In the first quarter, JOYY's total revenues reached US$555.7 million, up 12.4% year over year, representing the Company's highest year-over-year growth rate in recent years. Social entertainment revenue increased 3.2% year over year to US$400.4 million. BIGO Ads ad tech and SHOPLINE e-commerce, the second growth engine of the Company, maintained strong growth momentum. BIGO Ads revenue reached US$124.8 million, up 55.6% year over year, while SHOPLINE contributed US$30.5 million, up 16.1% year over year.
In the first quarter, the Company's non-GAAP1 operating income increased 22.5% year over year to US$38.0 million, while non-GAAP1 EBITDA grew 13.2% year over year to US$45.7 million. Operating cash inflow for the quarter was US$46.0 million. Net cash as of March 31, 2026 stood at US$3.18 billion.
Simultaneously, JOYY announced a new share repurchase program, under which the Company is authorized to repurchase up to US$600 million of its shares until the end of 2028, and a new quarterly dividend program, under which a total of approximately US$900 million in cash will be distributed on a quarterly basis between 2026 and 2028. The new shareholder return program amounts to approximately US$1.5 billion, underscoring JOYY's confidence in its long-term growth potential.
- This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company's performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports First Quarter 2026 Unaudited Financial Results" issued by the Company on May 26, 2026.
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ROME, ITALY - Media OutReach Newswire - 26 May 2026 - The Rainforest Children's Choir and Rainforest Large-Leaf Tea from Wuzhishan, Hainan, China, took centre stage at the International Tea Day event held at the UN Food and Agriculture Organization (FAO) headquarters in Rome on May 21, becoming the occasion's most sought-after presence.
The Rainforest Children’s Choir performed an original song "Lishan Tea Song" and the Italian classic "O Sole Mio". Photo by: UN Food and Agriculture Organization (FAO)
The children performed an original song "Lishan Tea Song" and a rendition of the beloved Italian classic "O Sole Mio," drawing a captivated crowd. Among the audience were Qu Dongyu, Director-General of the FAO, and Zhang Lubiao, China's Ambassador and Permanent Representative to the UN Agencies in Rome.
The Rainforest Children’s Choir performed an original song "Lishan Tea Song" and the Italian classic "O Sole Mio". (Photo by: Wuzhishan Informaition Office)
"It is the first time a Chinese delegation has performed in this banquet hall. I feel very proud," Zhang said at the event. "The Wuzhishan delegation will leave an important mark in the history of the FAO."
The day marked the seventh International Tea Day, and the FAO hosted a tea tasting gathering at its Rome headquarters. Countries including China, Indonesia, Canada, Kenya, Azerbaijan, Russia, Sri Lanka, and Türkiye showcased their signature teas and cultural traditions, sharing tea as a bridge of friendship.
The Wuzhishan delegation set up a display area featuring Rainforest Large-Leaf Tea and ethnic cultural products. Tea masters brewed tea for international guests, and the large-leaf black tea, known for its "amber liquor and honey aroma," was widely appreciated.
Hainan Large-Leaf Tea is a distinct species of the Camellia genus that evolved independently on Hainan Island and possesses rich genetic diversity. The research findings, published on the journal Agrobiodiversity on May 17, 2024, further enhance the tea's unique appeal.
The delegation also held business talks with Italian companies, exploring tea product exports and cross-border e-commerce cooperation, and mapping out pathways for Hainan's tea industry to enter the international market.
The International Tea Day is a UN observance initiated by China, aimed at promoting global tea culture exchange and the sustainable development of the tea industry. Through song and tea, the Wuzhishan delegation showcased the unique cultural charm of the Hainan Free Trade Port, injecting fresh energy into China-Italy cultural exchanges.
Hashtag: #WuzhishanInformationOffice
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