WUHAN,
China, Aug. 15, 2022 /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, 2022.
Second Quarter 2022 Financial and Operational
Highlights
- Total net revenues in the second quarter of 2022 were
RMB1,833.2 million (US$273.7 million), compared with RMB2,336.8 million in the same period of
2021.
- Gross profit in the second quarter of 2022 was RMB309.0 million (US$46.1 million), compared with RMB306.5 million in the same period of 2021.
- Net loss in the second quarter of 2022 was RMB38.8 million (US$5.8
million), compared with RMB181.7 million in the same period of
2021.
- Adjusted net income[1] in the second quarter of 2022
was RMB23.5 million (US$3.5 million), compared with adjusted net loss
of RMB145.1 million in the same
period of 2021.
- Average mobile MAUs[2] in the second quarter of 2022
were 55.7 million, compared with 60.7 million in the same period of
2021.
- Quarterly average paying user[3] count in the second
quarter of 2022 was 6.6 million, compared with 7.2 million in the
same period of 2021.
Mr. Shaojie Chen, Chief Executive
Officer of DouYu, commented, "During the second quarter, we
maintained our focus on enriching our platform's content ecosystem
and increased our investment and innovation in self-produced
content. At the same time, we optimized our cost control mechanisms
and carried out structural adjustments to enhance the quality of
our revenue streams. We achieved substantial progress in this
quarter, as demonstrated by our stable average mobile MAUs of 55.7
million and our improved financial performance, as our adjusted net
income[1] reached
RMB23.5 million. Going forward, we
will remain committed to executing our business strategy in
developing our game-centric comprehensive content platform by
leveraging our deeper understanding of the preferences and
characteristics of different user categories. Furthermore, we will
continue to enrich our innovative tailor-made content in
livestreaming, videos, graphics, and interactive communities. We
will maintain our leading position in the traditional livestreaming
industry by augmenting and developing our game-centric ecosystem
and exploring new growth drivers to achieve sustainable and healthy
growth."
Mr. Hao Cao, Vice President of DouYu, commented, "Our total
revenue in the second quarter reached RMB1.83 billion and gross profit was RMB309.0 million, representing a gross margin of
16.9%. We also achieved adjusted net income[1] of RMB23.5
million. During this quarter, while we further invested into
new business initiatives and self-produced content, we continued to
optimize our operational efficiency and successfully implemented
additional cost control measures. Our attention to operating
efficiency has delivered tangible results with improved returns for
each game, generating a sequential improvement of gross margin and
a turnaround in our adjusted net profit in this quarter. As of the
end of the second quarter, we have cash and cash equivalents,
restricted cash, short-term and long-term bank deposits of
RMB6,685 million. These abundant cash
reserves will provide us with ample support to stabilize our core
business operations as we navigate through the challenging macro
environment. Looking ahead, we remain focused on enhancing our
monetization capabilities and developing our operating model to
improve operating efficiency as we strive to deliver long-term
value to our shareholders."
Second Quarter 2022 Financial Results
Total net revenues in the second quarter of 2022
decreased by 21.6% to RMB1,833.2 million (US$273.7million), compared with RMB2,336.8 million in the same period of
2021.
Livestreaming revenues in the second quarter of 2022
decreased by 18.8% to RMB1,768.3 million (US$264.0 million) from RMB2,178.1 million in the same period of
2021. The decrease was due to the ongoing implementation of prudent
operating strategies which primarily included the Company's
adjustments to certain interactive features and related operations
to promote the long-term development of its platform.
Advertising and other revenues in the second quarter
of 2022 were RMB64.9 million
(US$9.7 million), compared with
RMB158.7 million in the same
period of 2021. The decrease was primarily due to the continued
exploration of new commercialization models by using a portion of
advertising traffic that could have been directly monetized, as
well as the soft demand for advertisements coupled with the
resurgence of COVID-19 in China.
Cost of revenues in the second quarter of 2022 was
RMB1,524.2 million (US$227.6million), a decrease of 24.9% compared
with RMB2,030.2 million in the same
period of 2021.
Revenue sharing fees and content costs in the second
quarter of 2022 decreased by 27.2% to RMB1,314.7 million (US$196.3 million) from RMB1,806.8 million in the same period of
2021. The decrease was primarily due to decreased revenue sharing
fees which outpaced the decrease in livestreaming revenues as a
result of our effective implementation of prudent and ROI-focused
operating strategies, as well as a significant decrease in
copyright costs.
Bandwidth costs in the second quarter of 2022
decreased by 11.2% to RMB143.7million
(US$21.5 million) from RMB161.8 million in the same period of 2021.
The decrease was mainly due to less peak bandwidth usage for fewer
purchased eSports tournaments, as well as lower per unit bandwidth
costs as a result of improved procurement efficiency.
Gross profit in the second quarter of 2022 was
RMB309.0 million (US$46.1 million), compared with RMB306.5 million in the same period of 2021.
Gross margin in the second quarter of 2022 improved to
16.9% from 13.1% in the same period of 2021. The increase in
gross margin was primarily due to the decreases in both revenue
sharing fees and copyright costs as a percentage of total net
revenues.
Sales and marketing expenses in the second quarter
of 2022 decreased 43.2% to RMB167.5
million (US$25.0 million)
from RMB295.0 million in the same
period of 2021. The decrease was mainly attributable to the
significant decrease in marketing expenses for user acquisition and
decreased personnel-related expenses.
Research and development expenses in the second
quarter of 2022 decreased 17.2% to RMB101.9
million (US$15.2million) from
RMB123.0 million in the same period
of 2021. The decrease was primarily attributable to the decrease in
personnel-related expenses.
General and administrative expenses in the second
quarter of 2022 decreased 11.7% to RMB90.7 million (US$13.5million) from RMB102.6 million in the same period of 2021.
The decrease was primarily due to the decreased professional
service fees.
Other operating income, net in the second quarter
of 2022 was RMB20.4 million
(US$3.0 million), compared with other
operating income of RMB16.7 million in the same period of
2021.
Loss from operations in the second quarter of 2022
was RMB30.6 million (US$4.6 million), compared with RMB197.4 million in the same period of 2021.
Adjusted operating income in the second quarter of 2022,
which adds back share-based compensation expenses, was RMB0.3 million (US$0.0 million), compared with adjusted operating
loss of RMB165.1 million in the same
period of 2021.
Net loss in the second quarter of 2022 was
RMB38.8 million (US$5.8 million), compared with RMB181.7 million in the same period of
2021.
Adjusted net income in the second quarter of 2022,
which excludes share-based compensation expenses, share of loss in
equity method investments, and impairment loss of investments, was
RMB23.5 million (US$3.5million), compared with adjusted net loss
of RMB145.1 million in the same
period of 2021.
Basic and diluted net loss per ADS[4] in the second quarter of 2022
were RMB0.10 (US$0.01) and RMB0.10 (US$0.01, respectively. Adjusted basic and
diluted net income per ADS in the second quarter of 2022 were
RMB0.10 (US$0.01) and RMB0.10 (US$0.01), respectively.
Cash and cash equivalents, restricted cash and bank
deposits
As of June 30, 2022, the Company
had cash and cash equivalents, restricted cash, short-term and
long-term bank deposits of RMB6,685 million (US$998.0 million), compared with
RMB6,643 million as of December 31, 2021.
Conference Call Information
The Company will hold a conference call on August 15, 2022, at 7:00am
Eastern Time (or 7:00pm 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
|
Mainland China Toll
Free:
|
4001-206115
|
Hong Kong Toll
Free:
|
800-963976
|
Singapore Toll
Free:
|
800-120-5863
|
Conference ID:
|
8396492
|
The replay will be accessible through August 22, 2022, by
dialing the following numbers:
International:
|
1-412-317-0088
|
United States Toll
Free:
|
1-877-344-7529
|
Conference ID:
|
7633533
|
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
calculated as net loss before share-based compensation expenses,
and share of loss in equity method investments, and impairment loss
on investments. For more information, please refer to "Use of
Non-GAAP Financial Measures" and "Reconciliations of GAAP and
Non-GAAP Results" at the end of this press release.
|
[2] Refers to the number of mobile
devices that launched the Company's mobile apps in a given period.
Average mobile MAUs for a given period is calculated by dividing
(i) the sum of active mobile users for each month of such period,
by (ii) the number of months in such period.
|
[3] "Quarterly average paying users"
refers to the average paying users for each quarter during a given
period of time calculated by dividing (i) the sum of paying users
for each quarter of such period, by (ii) the number of quarters in
such period. "Paying user" refers to a registered user that has
purchased virtual gifts on the Company's platform at least once
during the relevant period.
|
[4] Every ten ADSs represent one
ordinary share.
|
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 to
bring users access to immersive and interactive games and
entertainment livestreaming, a wide array of video and graphic
contents, as well as opportunities to participate in community
events and discussions. By nurturing a sustainable technology-based
talent development system and relentlessly producing high-quality
content, DouYu consistently delivers premium content through
integration of livestreaming, video, graphics, and virtual
communities with a primary focus on games, especially on eSports.
This enables DouYu to continuously expand its user base and enhance
its user experience. For more information, please see
http://ir.douyu.com/.
Use of Non-GAAP Financial Measures
Adjusted operating (loss) income is calculated as loss from
operation adjusted for share-based compensation expenses. Adjusted
net (loss) income is calculated as net loss adjusted for
share-based compensation expenses, share of loss in equity method
investments, and impairment loss on investments. Adjusted net
(loss) income attributable to DouYu is calculated as net loss
attributable to DouYu adjusted for share-based compensation
expenses, share of loss in equity method investments, and
impairment loss of investments. Adjusted basic and diluted net
(loss) income per ordinary share is non-GAAP net income
attributable to ordinary shareholders divided by weighted average
number of ordinary shares used in the calculation of non-GAAP basic
and diluted net (loss) income per ordinary share. The Company
adjusted the impact of (i) share-based compensation expenses, (ii)
share of loss in equity method investments, (iii) impairment loss
of 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
U.S. 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 RMB6.6981 to US$1.00, the noon buying rate in effect on
June 30, 2022, 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, 2022, 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, including but not limited to the following: the
Company's results of operations and financial condition; the
Company's business strategies; general market conditions, in
particular the game live streaming market; the ability of the
Company to retain and grow active and paying users; changes in
general economic and business conditions in China; the impact of the COVID-19 to the
Company's business operations and the economy in China and globally; any adverse changes in
laws, regulations, rules, policies or guidelines applicable to the
Company; and assumptions underlying or related to any of the
foregoing. 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
Lingling Kong
|DouYu International Holdings Limited
Email: ir@douyu.tv
Phone: +1 (646) 224-6934
Robin Yang
ICR, LLC
Email: DouYu.IR@icrinc.com
Phone: +1 (646) 224-6934
Media Relations Contact
Lingling Kong
DouYu International Holdings Limited
Email: pr_douyu@douyu.tv
Phone: +1 (646) 308-1475
Edmond Lococo
ICR, LLC
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
|
|
2021
|
|
2022
|
|
2022
|
ASSETS
|
RMB
|
|
RMB
|
|
US$
(1)
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
4,456,406
|
|
3,793,782
|
|
566,397
|
Restricted
cash
|
10,703
|
|
6,057
|
|
904
|
Short-term bank
deposits
|
2,076,355
|
|
2,784,964
|
|
415,784
|
Accounts receivable,
net
|
191,389
|
|
143,435
|
|
21,414
|
Prepayments
|
80,717
|
|
51,240
|
|
7,650
|
Amounts due from
related parties
|
37,159
|
|
37,957
|
|
5,667
|
Other current
assets
|
376,367
|
|
323,551
|
|
48,305
|
Total current
assets
|
7,229,096
|
|
7,140,986
|
|
1,066,121
|
|
|
|
|
|
|
Property and
equipment, net
|
25,111
|
|
19,323
|
|
2,885
|
Intangible assets,
net
|
161,540
|
|
139,528
|
|
20,831
|
Long-term bank
deposits
|
100,000
|
|
100,000
|
|
14,930
|
Investments
|
491,425
|
|
504,956
|
|
75,388
|
Goodwill
|
12,637
|
|
13,302
|
|
1,986
|
Right-of-use assets,
net
|
72,309
|
|
68,560
|
|
10,236
|
Other non-current
assets
|
64,785
|
|
66,738
|
|
9,964
|
Total non-current
assets
|
927,807
|
|
912,407
|
|
136,220
|
TOTAL
ASSETS
|
8,156,903
|
|
8,053,393
|
|
1,202,341
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
824,128
|
|
731,448
|
|
109,202
|
Advances from
customers
|
7,476
|
|
3,649
|
|
545
|
Deferred
revenue
|
235,134
|
|
238,545
|
|
35,614
|
Accrued expenses and
other current liabilities
|
458,328
|
|
371,740
|
|
55,499
|
Amounts due to related
parties
|
293,508
|
|
308,565
|
|
46,068
|
Lease liabilities due
within one year
|
30,417
|
|
36,700
|
|
5,479
|
Total current
liabilities
|
1,848,991
|
|
1,690,647
|
|
252,407
|
|
|
|
|
|
|
Lease
liabilities
|
31,278
|
|
27,342
|
|
4,082
|
Deferred
revenue
|
18,045
|
|
12,663
|
|
1,891
|
Total non-current
liabilities
|
49,323
|
|
40,005
|
|
5,973
|
TOTAL
LIABILITIES
|
1,898,314
|
|
1,730,652
|
|
258,380
|
|
(1) Translations of of
certain RMB amounts into U.S. dollars at a specified rate
are solely for the convenience of the reader.
Unless otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB6.6981 to US$1.00, the noon
buying rate in effect on June 30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
|
As of June
30
|
|
2021
|
|
2022
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
Ordinary
shares
|
23
|
|
23
|
|
3
|
Treasury
shares
|
(802,250)
|
|
(911,217)
|
|
(136,041)
|
Additional paid-in
capital
|
10,618,538
|
|
10,667,589
|
|
1,592,629
|
Accumulated
deficit
|
(3,445,102)
|
|
(3,562,873)
|
|
(531,923)
|
Accumulated other
comprehensive loss
|
(112,621)
|
|
122,067
|
|
18,225
|
Total DouYu
Shareholders' Equity
|
6,258,588
|
|
6,315,589
|
|
942,893
|
Noncontrolling
interests
|
1
|
|
7,152
|
|
1,068
|
Total Shareholders'
Equity
|
6,258,589
|
|
6,322,741
|
|
943,961
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
8,156,903
|
|
8,053,393
|
|
1,202,341
|
|
|
|
|
|
|
(1) Translations of
certain RMB amounts into U.S. dollars at a specified rate
are solely for the convenience of the reader.
Unless otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB6.6981 to US$1.00, the noon
buying rate in effect on June 30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
2021
|
|
March
31,
2022
|
|
June
30,
2022
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Net
revenues
|
2,336,771
|
|
1,795,646
|
|
1,833,205
|
|
273,690
|
|
4,489,459
|
|
3,628,851
|
|
541,773
|
Cost of
revenues
|
(2,030,223)
|
|
(1,551,872)
|
|
(1,524,167)
|
|
(227,552)
|
|
(3,922,722)
|
|
(3,076,039)
|
|
(459,241)
|
Gross
profit
|
306,548
|
|
243,774
|
|
309,038
|
|
46,138
|
|
566,737
|
|
552,812
|
|
82,532
|
Operating (expenses)
income (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(294,953)
|
|
(186,358)
|
|
(167,463)
|
|
(25,002)
|
|
(504,829)
|
|
(353,822)
|
|
(52,824)
|
General and
administrative expenses
|
(102,624)
|
|
(90,100)
|
|
(90,659)
|
|
(13,535)
|
|
(190,698)
|
|
(180,758)
|
|
(26,986)
|
Research and
development expenses
|
(123,015)
|
|
(116,308)
|
|
(101,847)
|
|
(15,205)
|
|
(234,280)
|
|
(218,155)
|
|
(32,570)
|
Other operating
income, net
|
16,681
|
|
47,801
|
|
20,375
|
|
3,042
|
|
40,605
|
|
68,175
|
|
10,178
|
Total operating
expenses
|
(503,911)
|
|
(344,965)
|
|
(339,594)
|
|
(50,700)
|
|
(889,202)
|
|
(684,560)
|
|
(102,202)
|
Loss from
operations
|
(197,363)
|
|
(101,191)
|
|
(30,556)
|
|
(4,562)
|
|
(322,465)
|
|
(131,748)
|
|
(19,670)
|
Other income
(expenses), net
|
178
|
|
(1,149)
|
|
(28,884)
|
|
(4,312)
|
|
305
|
|
(30,032)
|
|
(4,484)
|
Interest income,
net
|
19,768
|
|
16,632
|
|
23,570
|
|
3,519
|
|
40,697
|
|
40,201
|
|
6,002
|
Loss before income
taxes and share of
Loss in
equity method investments
|
(177,417)
|
|
(85,708)
|
|
(35,870)
|
|
(5,355)
|
|
(281,463)
|
|
(121,579)
|
|
(18,152)
|
Income tax
expense
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Share of loss in
equity method investments
|
(4,243)
|
|
(1,146)
|
|
(2,887)
|
|
(431)
|
|
(2,029)
|
|
(4,033)
|
|
(602)
|
Net
loss
|
(181,660)
|
|
(86,854)
|
|
(38,757)
|
|
(5,786)
|
|
(283,492)
|
|
(125,612)
|
|
(18,754)
|
Less: Net loss
attributable to noncontrolling interest
|
(34,651)
|
|
-
|
|
(7,841)
|
|
(1,171)
|
|
(74,465)
|
|
(7,841)
|
|
(1,171)
|
Net loss
attributable to ordinary
shareholders of the Company
|
(147,009)
|
|
(86,854)
|
|
(30,916)
|
|
(4,615)
|
|
(209,027)
|
|
(117,771)
|
|
(17,583)
|
Net loss per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(4.52)
|
|
(2.71)
|
|
(0.97)
|
|
(0.15)
|
|
(6.44)
|
|
(3.69)
|
|
(0.55)
|
Diluted
|
(4.52)
|
|
(2.71)
|
|
(0.97)
|
|
(0.15)
|
|
(6.44)
|
|
(3.69)
|
|
(0.55)
|
Net loss per
ADS(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.45)
(0.45)
|
|
(0.27)
|
|
(0.10)
|
|
(0.01)
|
|
(0.64)
|
|
(0.37)
|
|
(0.06)
|
Diluted
|
|
(0.27)
|
|
(0.10)
|
|
(0.01)
|
|
(0.64)
|
|
(0.37)
|
|
(0.06)
|
Weighted average
number of ordinary shares used in calculating net loss per ordinary
share
|
Basic
|
32,520,221
|
|
32,065,147
|
|
31,827,240
|
|
31,827,240
|
|
32,434,992
|
|
31,947,461
|
|
31,947,461
|
Diluted
|
32,520,221
|
|
32,065,147
|
|
31,827,240
|
|
31,827,240
|
|
32,434,992
|
|
31,947,461
|
|
31,947,461
|
Weighted average
number of ADS used in calculating net loss per
ADS(3)
|
Basic
|
325,202,212
|
|
320,651,471
|
|
318,272,401
|
|
318,272,401
|
|
324,349,925
|
|
319,474,607
|
|
319,474,607
|
Diluted
|
325,202,212
|
|
320,651,471
|
|
318,272,401
|
|
318,272,401
|
|
324,349,925
|
|
319,474,607
|
|
319,474,607
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Translations of
certain RMB amounts into U.S. dollars at a specified rate
are solely for the convenience of the reader.
Unless otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB6.6981 to US$1.00, the noon
buying rate in effect on June 30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
|
(2) Share-based compensation expenses
were allocated in cost of revenues and operating expenses as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
2021
|
|
March
31,
2022
|
|
June
30,
2022
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Research and
development expenses
|
5,300
|
|
5,435
|
|
5,437
|
|
812
|
|
10,768
|
|
10,872
|
|
1,623
|
Sales and marketing
expenses
|
1,177
|
|
1,212
|
|
1,213
|
|
181
|
|
2,395
|
|
2,425
|
|
362
|
General and
administrative expenses
|
25,810
|
|
26,563
|
|
24,184
|
|
3,611
|
|
52,442
|
|
50,747
|
|
7,576
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Every
ten ADSs represent one ordinary share.
|
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June
30,
2021
|
|
March
31,
2022
|
|
June
30,
2022
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Loss from
operations
|
(197,363)
|
|
(101,191)
|
|
(30,556)
|
|
(4,562)
|
|
(322,465)
|
|
(131,748)
|
|
(19,670)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
32,287
|
|
33,210
|
|
30,834
|
|
4,604
|
|
65,605
|
|
64,044
|
|
9,561
|
Adjusted Operating
(loss) income
|
(165,076)
|
|
(67,981)
|
|
278
|
|
42
|
|
(256,860)
|
|
(67,704)
|
|
(10,109)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
(181,660)
|
|
(86,854)
|
|
(38,757)
|
|
(5,786)
|
|
(283,492)
|
|
(125,612)
|
|
(18,754)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
32,287
|
|
33,210
|
|
30,834
|
|
4,604
|
|
65,605
|
|
64,044
|
|
9,561
|
Share of loss in equity
method investments
|
4,243
|
|
1,146
|
|
2,887
|
|
431
|
|
2,029
|
|
4,033
|
|
602
|
Impairment loss of
investment
|
-
|
|
-
|
|
28,571
|
|
4,266
|
|
-
|
|
28,571
|
|
4,266
|
Adjusted net (loss)
income
|
(145,130)
|
|
(52,498)
|
|
23,535
|
|
3,515
|
|
(215,858)
|
|
(28,964)
|
|
(4,325)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to DouYu
|
(147,009)
|
|
(86,854)
|
|
(30,916)
|
|
(4,615)
|
|
(209,027)
|
|
(117,771)
|
|
(17,583)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
32,287
|
|
33,210
|
|
30,834
|
|
4,604
|
|
65,605
|
|
64,044
|
|
9,561
|
Share of loss in equity
method investments
|
4,243
|
|
1,146
|
|
2,887
|
|
431
|
|
2,029
|
|
4,033
|
|
602
|
Impairment loss of
investment
|
-
|
|
-
|
|
28,571
|
|
4,266
|
|
-
|
|
28,571
|
|
4,266
|
Adjusted net (loss)
income attributable to DouYu
|
(110,479)
|
|
(52,498)
|
|
31,376
|
|
4,686
|
|
(141,393)
|
|
(21,123)
|
|
(3,154)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Net (loss)
income per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(3.47)
|
|
(1.64)
|
|
0.99
|
|
0.15
|
|
(4.44)
|
|
(0.66)
|
|
(0.10)
|
Diluted
|
(3.47)
|
|
(1.64)
|
|
0.99
|
|
0.15
|
|
(4.44)
|
|
(0.66)
|
|
(0.10)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net (loss)
income per ADS(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.35)
|
|
(0.16)
|
|
0.10
|
|
0.01
|
|
(0.44)
|
|
(0.07)
|
|
(0.01)
|
Diluted
|
(0.35)
|
|
(0.16)
|
|
0.10
|
|
0.01
|
|
(0.44)
|
|
(0.07)
|
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares used in calculating Adjusted net (loss) income
per ordinary share
|
Basic
|
32,520,221
|
|
32,065,147
|
|
31,827,240
|
|
31,827,240
|
|
32,434,992
|
|
31,947,461
|
|
31,947,461
|
Diluted
|
32,520,221
|
|
32,065,147
|
|
31,827,240
|
|
31,827,240
|
|
32,434,992
|
|
31,947,461
|
|
31,947,461
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ADS used in calculating net (loss) income per
ADS(2)
|
Basic
|
325,202,212
|
|
320,651,471
|
|
318,272,401
|
|
318,272,401
|
|
324,349,925
|
|
319,474,607
|
|
319,474,607
|
Diluted
|
325,202,212
|
|
320,651,471
|
|
318,272,401
|
|
318,272,401
|
|
324,349,925
|
|
319,474,607
|
|
319,474,607
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Translations of
certain RMB amounts into U.S. dollars at a specified rate
are solely for the convenience of the reader.
Unless otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB6.6981 to US$1.00, the noon
buying rate in effect on June 30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
|
(2) Every
ten ADSs represent one ordinary share.
|
View original
content:https://www.prnewswire.com/news-releases/douyu-international-holdings-limited-reports-second-quarter-2022-unaudited-financial-results-301605538.html
SOURCE DouYu International Holdings Limited