JOYY Inc. is a profitable Chinese company with a $3.6 billion market cap and nearly $2 billion in annual revenue. Despite a strong balance sheet and high-margin business model, the stock is undervalued due to regulatory concerns. Potential upside could reach $100 per share if the stock is traded at a more typical valuation multiple.

The company holds $3.3 billion in net cash as of Q3 2025, allowing for buybacks and value-accretive initiatives. JOYY represents an overlooked investment opportunity with limited downside and substantial upside potential. The stock’s intrinsic value is driven by operational cash generation and the optionality of its net cash reserve for enhancing shareholder returns.

TripleS Special Situations emphasizes JOYY’s undervaluation due to its robust cash position, regulatory mispricing, and high-margin livestreaming business in China. This perspective aligns with a previous bullish thesis on Meta Platforms, Inc., highlighting strong AI-driven ad growth and strategic investments. META’s stock price has appreciated by approximately 17.12% since coverage in May 2025.

Read more at Yahoo Finance: JOYY Inc. (JOYY): A Bull Case Theory