| Basic and diluted net income per share |
27. Basic and diluted net income per share Basic and diluted net income per share for the years ended December 31, 2023, 2024 and 2025 are calculated as follows: | | | | | | | | | For the year ended December 31, | | | 2023 | | 2024 | | 2025 | | | US$ | | US$ | | US$ | | | | | | | | Numerator: | | | | | | | Net income (loss) from continuing operations attributable to common shareholders of JOYY Inc. | | 347,351 | | (147,624) | | 221,127 | Dilutive effect of convertible bonds | | 8,653 | | — | | — | Numerator for diluted income (loss) per share from continuing operations | | 356,004 | | (147,624) | | 221,127 | | | | | | | | Net income from discontinued operations attributable to common shareholders of JOYY Inc. | | — | | — | | 1,875,921 | Numerator for diluted income per share from discontinued operations | | — | | — | | 1,875,921 | | | | | | | | Denominator: | | | | | | | Denominator for basic calculation—weighted average number of Class A and Class B common shares outstanding | | 1,308,695,642 | | 1,157,854,559 | | 1,052,099,864 | Dilutive effect of convertible bonds | | 141,564,583 | | — | | — | Dilutive effect of restricted stock | | 8,025,901 | | — | | 7,682,058 | Dilutive effect of restricted share units | | 4,690,418 | | — | | 5,465,574 | Denominator for diluted calculation | | 1,462,976,544 | | 1,157,854,559 | | 1,065,247,496 | | | | | | | | Basic net income (loss) per Class A and Class B common share | | 0.27 | | (0.13) | | 1.99 | Continuing operations | | 0.27 | | (0.13) | | 0.21 | Discontinued operations | | — | | — | | 1.78 | Diluted net income(loss) per Class A and Class B common share | | 0.24 | | (0.13) | | 1.97 | Continuing operations | | 0.24 | | (0.13) | | 0.21 | Discontinued operations | | — | | — | | 1.76 | | | | | | | | Basic net income (loss) per ADS* | | 5.31 | | (2.55) | | 39.86 | Continuing operations | | 5.31 | | (2.55) | | 4.20 | Discontinued operations | | — | | — | | 35.66 | Diluted net income (loss) per ADS* | | 4.87 | | (2.55) | | 39.37 | Continuing operations | | 4.87 | | (2.55) | | 4.15 | Discontinued operations | | — | | — | | 35.22 |
| * | Each ADS represents 20 common shares. |
27. Basic and diluted net income per share (continued) For the years ended December 31, 2023, 2024 and 2025, the following shares outstanding were excluded from the calculation of diluted net income (loss) per share, as their inclusion would have been anti-dilutive for the periods prescribed but which could potentially dilute EPS in the future. | | | | | | | | | For the year ended December 31, | | | 2023 | | 2024 | | 2025 | | | | | | | | Shares issuable upon exercise of share options | | 8,574,220 | | 8,074,500 | | 8,074,500 | Shares issuable upon exercise of restricted share units | | — | | 16,134,095 | | — | Shares issuable upon exercise of restricted share | | — | | 3,250,542 | | — | Shares issuable upon conversion of convertible bonds | | — | | — | | — |
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