WUHAN, China, Aug. 13, 2019 /PRNewswire/ -- DouYu International
Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU), a
leading game-centric live streaming platform in China and a pioneer in the eSports value
chain, today announced its unaudited financial results for the
second quarter ended June 30 and
first half of 2019.
Second Quarter 2019 Highlights
- Total net revenues for the second quarter of 2019 increased by
133.2% to RMB1,872.7 million
(US$272.8 million) from RMB802.9 million in the same period of 2018.
- Gross profit increased by 823.8% to RMB301.1 million (US$43.9
million) from RMB32.6 million
in the same period of 2018, implying a gross margin of 16.1% in the
second quarter of 2019 compared with 4.1% in the same period of
2018.
- Net income was RMB23.2 million
(US$3.4 million) for the second
quarter of 2019, compared with net loss of RMB228.7 million in the same period of 2018,
implying an net margin of 1.2%, compared with a net loss margin of
28.5% in the same period of 2018.
- Adjusted net income[1] was RMB52.6 million (US$7.7
million) for the second quarter of 2019, compared with an
adjusted net loss of RMB221.9 million
in the same period of 2018, implying an adjusted net margin of 2.8%
compared with an adjusted net loss margin of 27.6% in the same
period of 2018.
- Average MAUs[2] in the second quarter of 2019
reached 162.8 million, representing an increase of 32.6% from 122.8
million in the second quarter of 2018.
- Average mobile MAUs in the second quarter of 2019 reached 50.6
million, representing an increase of 42.5% from 35.5 million in the
second quarter of 2018.
- Quarterly average paying user base in the second quarter of
2019 reached 6.7 million, representing an increase of 123.3% from
3.0 million in the second quarter of 2018.
Mr. Shaojie Chen, Chief Executive
Officer of DouYu, commented, "Our second quarter results
demonstrated robust growth, as our quarterly average MAUs grew by
32.6%, average mobile MAU by 42.5%, and total net revenues by
133.2% year over year. We are convinced of the growth potential in
China's eSports market. Going
forward, we will continue to focus on building a game-centric
premium content ecosystem while strategically improving our
monetization efficiency across all content genres."
Mr. Hao Cao, Vice President of DouYu, commented, "We achieved
solid financial results in the second quarter. After our initial
public offering in July 2019, we
continue to strive to strengthen our value proposition in the
game-centric live streaming industry and explore the eSports value
chain both upstream and downstream. Looking ahead, we will continue
to drive our revenue growth through user base expansion, paying
ratio enhancement, and ARPPU improvement. We will also further
optimize our operating efficiency and operating leverage to improve
our margins."
Second Quarter 2019 Financial Results
Total net revenues for the second quarter of 2019
increased by 133.2% to RMB1,872.7
million (US$272.8 million)
from RMB802.9 million in the same
period of 2018, primarily due to the increase in live streaming
revenues.
Live streaming revenues increased by 156.0% to
RMB1,708.3 million (US$248.8 million) in the second quarter of 2019
from RMB667.3 million in the same
period of 2018, primarily due to the Company's continuing efforts
to cultivate users' paying habits as well as the growth in both the
number of paying users and ARPPU.
Advertising and other revenues increased by 21.2% to
RMB164.4 million (US$24.0 million) in the second quarter of 2019
from RMB135.6 million in the same
period of 2018, primarily driven by the increasing integrated
promotion activities during live streaming as a result of
improvements in the Company's brand awareness.
Cost of revenues increased by 104.0% to RMB1,571.7 million (US$228.9 million) in the second quarter of 2019
from RMB770.3 million in the same
period of 2018, primarily attributable to the increase in revenue
sharing fees and content costs as well as bandwidth costs.
Revenue sharing fees and content costs increased by
121.2% to RMB1,326.6 million
(US$193.2 million) in the second
quarter of 2019 from RMB599.8 million
in the same period of 2018, primarily due to: 1) increases in
revenue sharing fees which were in line with increases in live
streaming revenue, and 2) increases in content costs primarily
attributable to the high-quality content created on the Company's
platform as well as eSports related content investment.
Bandwidth costs increased by 15.2% to RMB153.3 million (US$22.3
million) in the second quarter of 2019 from RMB133.0 million in the same period of 2018,
primarily due to the increases in bandwidth usage necessary to
support the growth of user traffic on the platform and improve the
quality of live streaming video to enhance user experience,
partially offset by the improved bandwidth utilization efficiency
primarily attributable to the continued deployment of new
technologies in content distribution.
Gross profit increased by 823.8% to RMB301.1 million (US$43.9
million) in the second quarter of 2019 from RMB32.6 million in the same period of 2018. Gross
margin increased to 16.1% in the second quarter of 2019 from 4.1%
in the same period of 2018, primarily due to the Company's
continuing improvements on monetization capabilities, bandwidth
utilization through technology upgrades, and operational
efficiency, which has also contributed to the development of
economies of scale on the platform.
Sales and marketing expenses increased by 17.4% to
RMB167.8 million (US$24.4 million) in the second quarter of 2019
from RMB142.9 million in the same
period of 2018, mainly attributable to greater efforts in promoting
the Company's brand awareness, eSports contents and offline
events.
Research and development expenses remained relatively
stable at RMB84.4 million
(US$12.3 million) in the second
quarter of 2019, compared to RMB82.9
million in the same period of 2018.
General and administrative expenses increased by
98.4% to RMB73.3 million
(US$10.7 million) in the second
quarter of 2019 from RMB37.0 million
in the same period of 2018, mainly due to the significant increase
in share-based compensation expenses related to the awarding of
restricted shares in connection with the acquisition of Nonolive in
October 2018, as well as the increase
in salaries and benefits of the management team as a result of the
Company's business growth.
Other operating income, net was RMB14.5 million (US$2.1
million) for the second quarter of 2019, compared with
RMB21.2 million in the same period of
2018.
Operating loss was RMB10.0
million (US$1.5 million) in
the second quarter of 2019, compared with an operating loss of
RMB209.0 million in the same period
of 2018.
Adjusted operating income
in the second quarter of 2019,
which excludes share-based compensation expenses, was RMB17.4 million (US$2.5
million) for the second quarter of 2019, compared with an
adjusted operating loss of RMB204.6
million in the same period of 2018.
Income tax expenses were nil for the second quarter of
2019 and 2018, due to the Company's cumulative net losses and the
resulting tax loss carryforward.
Net income was RMB23.2
million (US$3.4 million) in
the second quarter of 2019, compared with a net loss of
RMB228.7 million in the same period
of 2018.
Adjusted net income
in the second quarter of 2019,
which excludes share-based compensation expenses, share of loss (income) in equity method
investments, and impairment loss of investments, was RMB52.6 million (US$7.7
million) in the second quarter of 2019, implying an adjusted
net margin of 2.8% and compared with an adjusted net loss of
RMB221.9 million in the same period
of 2018.
Basic and diluted net income per ordinary share was
RMB0.86 (US$0.13) and RMB0.82 (US$0.12),
respectively for the second quarter of 2019, compared with a basic
and diluted net loss per ordinary share of RMB28.07 and RMB28.07, respectively for the same period of
2018.
Adjusted basic and diluted net income per ordinary share
was RMB4.51 (US$0.66) and RMB1.91 (US$0.28),
respectively for the second quarter of 2019, compared with an
adjusted basic and diluted net loss per ordinary share of
RMB27.25 and RMB 27.25 for the same period of 2018.
Recent Development
In July 2019, the Company
successfully completed its initial public offering ("IPO") of
44,924,730 American depositary shares ("ADSs") at a price of
US$11.5 per ADS, with the selling
shareholders offering an additional 22,462,380 ADSs. Every ten ADSs
represents one ordinary share. The Company received a total of
approximately US$489.9 million in net
proceeds from the IPO, after deducting the underwriting discounts
and commissions, and estimated offering expenses payable.
Upon its completion of IPO, the Company had a total of
32,462,368 ordinary shares issued and outstanding. Every ten ADSs
represents one ordinary share.
Business Outlook
The Company expects its total net revenues to be in the range of
RMB1,950 million to RMB2,000 million in the third quarter of 2019,
representing a year-over-year growth between 90.3% and 95.2%. This
forecast reflects the Company's current and preliminary views on
the market and operational conditions, which are subject to
change.
Conference Call Information
The Company will hold a conference call on Tuesday, August 13, 2019, at 8:00 a.m. Eastern Time or 8:00 p.m. Beijing Time on the same day to discuss
the financial results. Listeners may access the call by dialing the
following numbers:
International:
|
1-412-317-6061
|
United States
Toll Free:
|
1-888-317-6003
|
China:
|
4001-206115
|
Hong Kong Toll
Free:
|
800-963976
|
Conference
ID:
|
4987940
|
The replay will be accessible through August 20, 2019, by
dialing the following numbers:
International:
|
1-412-317-0088
|
United States Toll
Free:
|
1-877-344-7529
|
Conference
ID:
|
10134203
|
A live and archived webcast of the conference call will also be
available at the Company's investor relations website at
http://ir.douyu.com/.
[1] "Adjusted net
income" is defined as net income excluding share-based compensation
expenses, share of loss (income) in equity method investments,
and impairment loss of investments. For more information, refer to
"Use of Non-GAAP Financial Measures" and "Reconciliations of
Non-GAAP Results" at the end of this press
release.
|
[2] Refers to the
average total MAUs during a given period of time calculated by
dividing (i) the sum of active users, including active PC users and
active mobile users for each month of such period, by (ii) the
number of months of such period. MAUs refers to the number of
active users, including active PC users and active mobile users in
a given month. Active users refers to users who visited the
Company's platform through PC or mobile app at least once in a
given periodÍž the number of active PC users is measured as the
number of independent cookies generated by the Company's website
when users visited the Company's platform through PC in a given
period, and the number of active mobile users is measured as the
number of mobile devices that launched the Company's mobile apps in
a given period. The number of active users is calculated by
treating each distinguishable independent cookie or mobile device
as a separate user even though some individuals may access the
Company's platform with more than one independent cookie or using
more than one mobile device and multiple individuals may access the
Company's services with the same independent cookie or using the
same mobile device.
|
About DouYu International Holdings Limited
Headquartered in Wuhan, China,
DouYu International Holdings Limited (Nasdaq: DOYU) is a leading
game-centric live streaming platform in China and a pioneer in the eSports value
chain. DouYu operates its platform on both PC and mobile apps,
through which users can enjoy immersive and interactive games and
entertainment live streaming. DouYu's platform brings together a
deep pool of top live streamers. By providing a sustainable
streamer development system built on advanced technology
infrastructure and capabilities, DouYu helps ensure a consistent
supply of quality content. Through collaborations with a variety of
participants across the eSports value chain, the Company has gained
coveted access to a wide variety of premium eSports content, which
further attracts viewers and enhances user experience. For more
information, please see http://ir.douyu.com/.
Use of Non-GAAP Financial Measures
Adjusted operating income (loss) is calculated as operating
income (loss) adjusted for shared-based compensation expenses.
Adjusted net income(loss) is calculated as net loss adjusted for
shared-based compensation expenses, share of loss (income) in equity method
investments and impairment loss on investments. Adjusted net income
(loss) attributable to DouYu is calculated as net income (loss)
attributable to DouYu adjusted for shared-based compensation
expenses, share of loss (income) in equity method
investments and impairment loss on investments. Adjusted basic and
diluted net income per ordinary share is non-GAAP net income (loss)
attributable to ordinary shareholders divided by weighted average
number of ordinary shares used in the calculation of non-GAAP basic
and diluted net income per ordinary share. The Company adjusted the
non-cash impact of (i) shared-based compensation expenses, (ii)
share of loss (income) in
equity method investments and (iii) impairment loss on investments
to understand and evaluate the Company's core operating
performance. The non-GAAP financial measures are presented to
enhance investors' overall understanding of the Company's financial
performance and should not be considered a substitute for, or
superior to, the financial information prepared and presented in
accordance with U.S. GAAP. Investors are encouraged to review the
reconciliation of the historical non-GAAP financial measures to its
most directly comparable GAAP financial measures. As non-GAAP
financial measures have material limitations as analytical metrics
and may not be calculated in the same manner by all companies, they
may not be comparable to other similarly titled measures used by
other companies. In light of the foregoing limitations, you should
not consider non-GAAP financial measures as a substitute for, or
superior to, such metrics in accordance with US GAAP.
For more information on these non-GAAP financial measures,
please see the table captioned "Reconciliations of Non-GAAP
Results" near the end of this release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB to
U.S. dollars are made at a rate of RMB6.8650 to US$1.00, the noon buying rate in effect on
June 30, 2019, in the H.10
statistical release of the Federal Reserve Board. The Company makes
no representation that the RMB amounts could have been, or could
be, converted, realized or settled in U.S. dollars at that rate on
June 30, 2019, or at any other
rate.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may", "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the Securities Exchange Commission. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any duty to update such
information, except as required under applicable law.
Investor Relations Contact
Mao Mao
DouYu International Holdings Limited
Email: ir@douyu.tv
Phone: +1 (646) 224-6934
Xinran Rao
ICR, Inc.
Email: DouYu.IR@icrinc.com
Phone: +1 (646) 224-6934
Media Relations Contact
Joy Yin
DouYu International Holdings Limited
Email: pr_douyu@douyu.tv
Phone: +1 (646) 308-1475
Edmond Lococo
ICR, Inc.
Email: DouYu.PR@icrinc.com
Phone: +1 (646) 308-1475
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
|
As of June
30
|
|
|
2018
|
|
2019
|
|
2019
|
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
ASSETS
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
5,562,205
|
|
4,399,996
|
|
640,932
|
Account receivables,
net
|
|
129,465
|
|
216,290
|
|
31,506
|
Prepayments
|
|
135,755
|
|
96,266
|
|
14,023
|
Amounts due from
related parties
|
|
64,070
|
|
76,445
|
|
11,135
|
Other current
assets
|
|
225,514
|
|
410,562
|
|
59,805
|
Total current
assets
|
|
6,117,009
|
|
5,199,559
|
|
757,401
|
|
|
|
|
|
|
|
Property and
equipment, net
|
|
50,428
|
|
43,770
|
|
6,376
|
Intangible assets,
net
|
|
131,014
|
|
189,773
|
|
27,644
|
Investments
|
|
134,252
|
|
145,479
|
|
21,191
|
Goodwill
|
|
13,568
|
|
30,772
|
|
4,482
|
Other non-current
assets
|
|
48,581
|
|
36,878
|
|
5,372
|
Total non-current
assets
|
|
377,843
|
|
446,672
|
|
65,065
|
TOTAL
ASSETS
|
|
6,494,852
|
|
5,646,231
|
|
822,466
|
|
|
|
|
|
|
|
LIABILITIES,
CONVERTIBLE REDEEMABLE PREFERRED SHARES
AND SHAREHOLDERS' DEFICIT
|
LIABILITIES
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Accounts
Payable
|
|
800,370
|
|
1,125,934
|
|
164,011
|
Advances from
customers
|
|
9,708
|
|
20,179
|
|
2,939
|
Deferred
revenue
|
|
112,072
|
|
158,379
|
|
23,071
|
Accrued expenses and
other current liabilities
|
|
313,455
|
|
305,077
|
|
44,439
|
Amounts due to
related parties
|
|
1,628,308
|
|
307,001
|
|
44,720
|
Total current
liabilities
|
|
2,863,913
|
|
1,916,570
|
|
279,180
|
TOTAL
LIABILITIES
|
|
2,863,913
|
|
1,916,570
|
|
279,180
|
|
|
|
|
|
|
|
Convertible
redeemable preferred shares
|
|
6,644,823
|
|
6,644,823
|
|
967,928
|
|
|
|
|
|
|
|
Shareholders'
deficit
|
|
|
|
|
|
|
Ordinary
shares
|
|
5
|
|
5
|
|
1
|
Additional paid-in
capital
|
|
48,989
|
|
94,202
|
|
13,722
|
Accumulated
deflict
|
|
(3,388,471)
|
|
(3,345,680)
|
|
(487,353)
|
Accumulated other
comprehensive income
|
|
325,593
|
|
331,814
|
|
48,333
|
Total DouYu
Shareholders' deficit
|
|
(3,013,884)
|
|
(2,919,659)
|
|
(425,297)
|
Non-controlling
interests
|
|
-
|
|
4,497
|
|
655
|
Total
Shareholders' Deficit
|
|
(3,013,884)
|
|
(2,915,162)
|
|
(424,642)
|
TOTAL LIABILITIES,
CONVERTIBLE REDEEMABLE PREFERRED SHARES
AND SHAREHOLDERS' DEFICIT
|
6,494,852
|
|
5,646,231
|
|
822,466
|
|
|
|
|
|
|
|
(1)
Translations of certain RMB amounts into U.S. dollars at a
specified rate is solely for the convenience of the reader. Unless
otherwise
noted, all translations from RMB to U.S. dollars are made at a rate
of RMB6.8650 to US$1.00, the noon buying rate in effect on June
30,
2019, in the H.10 statistical release of Federal Reserve
Board.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June
30,
|
|
March
31,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
|
2018
|
|
2019
|
|
2019
|
|
2019
|
|
2018
|
|
2019
|
|
2019
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Net
Revenues
|
|
802,909
|
|
1,489,124
|
|
1,872,729
|
|
272,794
|
|
1,469,391
|
|
3,361,853
|
|
489,709
|
Cost of
revenues
|
|
(770,320)
|
|
(1,285,996)
|
|
(1,571,679)
|
|
(228,941)
|
|
(1,412,171)
|
|
(2,857,675)
|
|
(416,267)
|
Gross
profit
|
|
32,589
|
|
203,128
|
|
301,050
|
|
43,853
|
|
57,220
|
|
504,178
|
|
73,442
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
|
(142,942)
|
|
(123,569)
|
|
(167,759)
|
|
(24,437)
|
|
(219,630)
|
|
(291,328)
|
|
(42,437)
|
Research and
development expense
|
|
(82,872)
|
|
(79,421)
|
|
(84,404)
|
|
(12,295)
|
|
(155,467)
|
|
(163,825)
|
|
(23,864)
|
General and
administrative expenses
|
|
(36,961)
|
|
(63,459)
|
|
(73,344)
|
|
(10,684)
|
|
(68,110)
|
|
(136,803)
|
|
(19,928)
|
Other operating
income, net
|
|
21,229
|
|
14,886
|
|
14,497
|
|
2,112
|
|
21,232
|
|
29,383
|
|
4,281
|
Total operating
expenses
|
|
(241,546)
|
|
(251,563)
|
|
(311,010)
|
|
(45,304)
|
|
(421,975)
|
|
(562,573)
|
|
(81,948)
|
Loss from
operations
|
|
(208,957)
|
|
(48,435)
|
|
(9,960)
|
|
(1,451)
|
|
(364,755)
|
|
(58,395)
|
|
(8,506)
|
Other expenses,
net
|
|
(277)
|
|
(113)
|
|
(3,766)
|
|
(549)
|
|
(1,228)
|
|
(3,879)
|
|
(565)
|
Foerign exchange
gains (losses)
|
|
(27,169)
|
|
32,045
|
|
-
|
|
-
|
|
(27,169)
|
|
32,045
|
|
4,668
|
Interest
Income,net
|
|
10,066
|
|
33,952
|
|
35,166
|
|
5,123
|
|
12,551
|
|
69,118
|
|
10,068
|
Income (loss)
before income taxes
|
|
(226,337)
|
|
17,449
|
|
21,440
|
|
3,123
|
|
(380,601)
|
|
38,889
|
|
5,665
|
Income tax
expenses
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Share of loss (income) in
equity method investments
|
(2,365)
|
|
702
|
|
1,716
|
|
250
|
|
(3,766)
|
|
2,418
|
|
352
|
Net income
(loss)
|
|
(228,702)
|
|
18,151
|
|
23,156
|
|
3,373
|
|
(384,367)
|
|
41,307
|
|
6,017
|
Less: Net loss
attributable to non-controlling interest
|
-
|
|
(604)
|
|
(880)
|
|
(128)
|
|
-
|
|
(1,484)
|
|
(216)
|
Net income (loss)
attributable to DouYu
|
|
(228,702)
|
|
18,755
|
|
24,036
|
|
3,501
|
|
(384,367)
|
|
42,791
|
|
6,233
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(28.07)
|
|
0.67
|
|
0.86
|
|
0.13
|
|
(47.88)
|
|
1.53
|
|
0.22
|
Diluted
|
|
(28.07)
|
|
0.64
|
|
0.82
|
|
0.12
|
|
(47.88)
|
|
1.46
|
|
0.21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in calculating net income(loss) per
ordinary share
|
|
|
|
|
|
|
|
|
Basic
|
|
8,146,208
|
|
8,063,790
|
|
8,063,790
|
|
8,063,790
|
|
8,167,499
|
|
8,063,790
|
|
8,063,790
|
Diluted
|
|
8,146,208
|
|
29,380,734
|
|
29,351,365
|
|
29,351,365
|
|
8,167,499
|
|
29,343,741
|
|
29,343,741
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
Translations of certain RMB amounts into U.S. dollars at a
specified rate is solely for the convenience of the reader. Unless
otherwise noted, all translations from RMB to
U.S. dollars are made at a rate of RMB6.8650 to US$1.00, the noon
buying rate in effect on June 30, 2019, in the H.10 statistical
release of Federal Reserve Board.
|
Reconciliations of
Non-GAAP Results
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June
30,
|
|
March
31,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
|
2018
|
|
2019
|
|
2019
|
|
2019
|
|
2018
|
|
2019
|
|
2019
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
|
(208,957)
|
|
(48,435)
|
|
(9,960)
|
|
(1,451)
|
|
(364,755)
|
|
(58,395)
|
|
(8,506)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
|
4,394
|
|
17,830
|
|
27,383
|
|
3,989
|
|
8,787
|
|
45,213
|
|
6,586
|
Adjusted Operating
income (loss)
|
|
(204,563)
|
|
(30,605)
|
|
17,423
|
|
2,538
|
|
(355,968)
|
|
(13,182)
|
|
(1,920)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
(228,702)
|
|
18,151
|
|
23,156
|
|
3,373
|
|
(384,367)
|
|
41,307
|
|
6,017
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
|
4,394
|
|
17,830
|
|
27,383
|
|
3,989
|
|
8,787
|
|
45,213
|
|
6,586
|
Share of loss (income) in
equity method investments
|
2,365
|
|
(702)
|
|
(1,716)
|
|
(250)
|
|
3,766
|
|
(2,418)
|
|
(352)
|
Impairment loss of
investment
|
|
-
|
|
-
|
|
3,790
|
|
552
|
|
-
|
|
3,790
|
|
552
|
Adjusted net
income (loss)
|
|
(221,943)
|
|
35,279
|
|
52,613
|
|
7,664
|
|
(371,814)
|
|
87,892
|
|
12,803
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to DouYu
|
|
(228,702)
|
|
18,755
|
|
24,036
|
|
3,501
|
|
(384,367)
|
|
42,791
|
|
6,233
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
|
4,394
|
|
17,830
|
|
27,383
|
|
3,989
|
|
8,787
|
|
45,213
|
|
6,586
|
Share of loss
(income) in equity method investments
|
2,365
|
|
(702)
|
|
(1,716)
|
|
(250)
|
|
3,766
|
|
(2,418)
|
|
(352)
|
Impairment loss of
investment
|
|
-
|
|
-
|
|
3,790
|
|
552
|
|
-
|
|
3,790
|
|
552
|
Adjusted net
income (loss) attributable to DouYu
|
(221,943)
|
|
35,883
|
|
53,493
|
|
7,792
|
|
(371,814)
|
|
89,376
|
|
13,019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Net
income (loss) per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(27.25)
|
|
2.79
|
|
4.51
|
|
0.66
|
|
(46.34)
|
|
7.31
|
|
1.06
|
Diluted
|
|
(27.25)
|
|
1.28
|
|
1.91
|
|
0.28
|
|
(46.34)
|
|
3.20
|
|
0.47
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares
used in calculating diluted net income(loss)
per ordinary share
|
|
8,146,208
|
|
29,380,734
|
|
29,351,365
|
|
29,351,365
|
|
8,167,499
|
|
29,366,050
|
|
29,366,050
|
Less: Restricted Share
Units
|
|
-
|
|
(1,410,839)
|
|
(1,381,470)
|
|
(1,381,470)
|
|
-
|
|
(1,396,155)
|
|
(1,396,155)
|
Weighted
average number of ordinary shares
used in calculating adjusted diluted net
income(loss) per ordinary share
|
|
8,146,208
|
|
27,969,895
|
|
27,969,895
|
|
27,969,895
|
|
8,167,499
|
|
27,969,895
|
|
27,969,895
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in calculating Adjusted net
income(loss) per ordinary share
|
|
|
|
|
|
|
|
|
Basic
|
|
8,146,208
|
|
8,063,790
|
|
8,063,790
|
|
8,063,790
|
|
8,167,499
|
|
8,063,790
|
|
8,063,790
|
Diluted
|
|
8,146,208
|
|
27,969,895
|
|
27,969,895
|
|
27,969,895
|
|
8,167,499
|
|
27,969,895
|
|
27,969,895
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
Translations of certain RMB amounts into U.S. dollars at a
specified rate is solely for the convenience of the reader. Unless
otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB6.8650 to US$1.00, the noon buying
rate in effect on June 30, 2019, in the H.10 statistical release of
Federal Reserve Board.
|
View original
content:http://www.prnewswire.com/news-releases/douyu-international-holdings-limited-reports-second-quarter-2019-unaudited-financial-results-300900614.html
SOURCE DouYu International Holdings Limited