UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of August 2023
Commission file number: 001-38967
DouYu International Holdings Limited
(Exact Name of Registrant as Specified in Its Charter)
20/F, Building A, New Development International
Center,
No. 473 Guanshan Avenue,
Hongshan District, Wuhan, Hubei Province
The People's Republic of China
(Address of Principal Executive Offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
EXHIBIT INDEX
Signature
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
|
DOUYU INTERNATIONAL HOLDINGS LIMITED |
| |
|
|
| Date: |
August 14, 2023 |
|
By: |
/s/ Shaojie Chen |
| |
|
|
|
Name: |
Shaojie Chen |
| |
|
|
|
Title: |
Chief Executive Officer, Director |
Exhibit 99.1
DouYu
International Holdings Limited Reports Second Quarter 2023 Unaudited Financial Results
WUHAN,
China, Aug. 14, 2023 /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, 2023.
Second Quarter
2023 Financial and Operational Highlights
| · | Total net revenues in the second quarter of 2023 were RMB1,392.2 million (US$192.0 million), compared
with RMB1,833.2 million in the same period of 2022. |
| · | Gross profit in the second quarter of 2023 was RMB188.9 million (US$26.1 million), compared with RMB309.0
million in the same period of 2022. |
| · | Net income in the second quarter of 2023 was RMB6.8 million (US$0.9
million), compared with net loss of RMB38.8 million in the same period of 2022. |
| · | Adjusted net income1
in the second quarter of 2023 was RMB61.4 million (US$8.5 million), compared with RMB23.5 million in the same period of 2022. |
| · | Average mobile MAUs2 in the second quarter of 2023 were 50.3 million, compared with 55.7
million in the same period of 2022. |
| · | The number of quarterly average paying users3 in the second quarter of 2023 was 4.0 million,
compared with 6.6 million in the same period of 2022. |
Mr. Shaojie Chen, Chief Executive Officer
of DouYu, commented, “In the second quarter of 2023, we continued to foster the sustainable health of our game-centric community
ecosystem. We focused on successfully maintaining our core users, launching more high-quality, highly interactive content to boost interactions
in our community and further elevated the user experience. Meanwhile, we worked more closely with game developers on mutually beneficial
initiatives and reduced our marketing expenses in areas such as user acquisition and branding, which in turn improved our profitability.
Driven by our regularly updated premium gaming content, diverse operational activities and revenue-generating product offerings, mobile
MAUs in the second quarter were steady with the prior quarter at 50.3 million. Looking ahead, we remain committed to executing our core
growth strategy of fostering a vibrant, game-centric content ecosystem. We will continue to produce high-quality content, launch innovative
offerings and further explore new growth avenues. Our solid business development will enhance our competitive edge and leading position
in the domestic gaming content industry.”
1
“Adjusted net income” is defined as net income excluding share-based compensation expenses, and share of loss
in equity method investments and impairment loss of 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 our 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 our platform at least once during the relevant
period.
Mr. Hao
Cao, Vice President of DouYu, commented, “In the second quarter of 2023, our financial performance remained steady. We
continued to execute on our long-term sustainable growth strategy with an emphasis on ROI. The key adjustments we have made to our
livestreaming revenue-generating activities are designed to invigorate the platform community. Together, with our product upgrades
and innovations, we stabilized our total net revenue of RMB1.39 billion and diversified our revenue mix. We continued to optimize
our costs and operating expenses in the second quarter by effectively managing our content cost, notably by reducing our marketing
expenses for promotional activities and improving our operating efficiency. As a result, we generated net income of RMB6.8 million
in the quarter compared with the net loss of RMB38.8 million in the same period last year. Our adjusted net income increased 160.8%
year-over-year, reaching RMB61.4 million. Going forward, we plan to explore new monetization channels that support the stable
operations and growth of our core business in a manner that creates long-term value for all of our stakeholders.”
Second Quarter
2023 Financial Results
Total
net revenues in the second quarter of 2023 decreased by 24.1% to RMB1,392.2 million (US$192.0 million), compared with RMB1,833.2
million in the same period of 2022.
Livestreaming
revenues in the second quarter of 2023 decreased by 28.8% to RMB1,258.3 million (US$173.5 million) from RMB1,768.3 million
in the same period of 2022. The decrease was mainly attributable to on-going operational adjustments in livestreaming business to promote
a healthy and sustainable ecosystem in a more cost-effective manner, as well as the challenging macro environment.
Advertising
and other revenues in the second quarter of 2023 increased by 106.5% to RMB133.9 million (US$18.5 million) from RMB64.9 million
in the same period of 2022. The increase was primarily attributable to the increase in other revenues contributed by game-specific membership
services.
Cost
of revenues in the second quarter of 2023 was RMB1,203.3 million (US$165.9 million), a decrease of 21.1% compared with RMB1,524.2
million in the same period of 2022.
Revenue
sharing fees and content costs in the second quarter of 2023 decreased by 25.4% to RMB981.3 million (US$135.3 million) from
RMB1,314.7 million in the same period of 2022. The decline was primarily driven by a decrease in revenue sharing fees, which were largely
aligned with the decrease in livestreaming revenues. The decrease was partially offset by an increase in copyright costs as a result of
our purchase of the LPL tournament copyright.
Bandwidth
costs in the second quarter of 2023 decreased by 17.3% to RMB118.8 million (US$16.4 million) from RMB143.7 million in the same
period of 2022. The decrease was mainly due to the enhanced efficiency of peak bandwidth usage caused by growing tournament viewing demand,
mainly through dynamic bandwidth allocation.
Gross
profit in the second quarter of 2023 was RMB188.9 million (US$26.1 million), compared with RMB309.0 million in the same period
of 2022. Gross margin in the second quarter of 2023 was 13.6%, compared with 16.9% in the same period of 2022. The decrease in gross margin
was mainly attributable to the increase in other costs as a percentage of revenues, which was partially offset by the decreasing percentage
of revenues attributed to revenue sharing fees.
Sales
and marketing expenses in the second quarter of 2023 decreased by 48.0% to RMB87.0 million (US$12.0 million) from RMB167.5
million in the same period of 2022. This was mainly attributable to a decrease in marketing expenses for user acquisition.
Research
and development expenses in the second quarter of 2023 decreased by 30.2% to RMB71.0 million (US$9.8 million) from RMB101.9
million in the same period of 2022. This decrease was primarily due to a decrease in personnel-related expenses.
General
and administrative expenses in the second quarter of 2023 decreased by 48.2% to RMB46.9 million (US$6.5 million) from RMB90.7
million in the same period of 2022. This decrease was primarily due to decreased share-based compensation expenses, as the shares under
our share incentive plans were fully vested.
Other
operating income, net in the second quarter of 2023 was RMB8.6 million (US$1.2 million), compared with RMB20.4 million in the
same period of 2022.
Loss
from operations in the second quarter of 2023 was RMB7.5 million (US$1.0 million), compared with RMB30.6 million in the same
period of 2022.
Net
income in the second quarter of 2023 was RMB6.8 million (US$0.9 million), compared with net loss of RMB38.8 million in the
same period of 2022.
Adjusted
net income, which excludes share-based compensation expenses, the share of loss in equity method investments, and impairment
loss of investments, was RMB61.4 million (US$8.5 million) in the second quarter of 2023, compared with RMB23.5 million in the same period
of 2022.
Basic
and diluted net income per ADS4 in the second quarter of 2023 were both RMB0.02 (US$0.003). Adjusted basic
and diluted net income per ADS in the second quarter of 2023 were both RMB0.19 (US$0.03).
Cash and cash
equivalents, restricted cash and bank deposits
As of June 30,
2023, the Company had cash and cash equivalents, restricted cash, and short-term and long-term bank deposits of RMB7,055.5 million (US$973.0
million), compared with RMB6,808.8 million as of December 31, 2022.
Conference
Call Information
The Company will
hold a conference call on August 14, 2023, at 7:00 a.m. Eastern Time (or 7:00 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 |
4 Every ten ADSs represent one ordinary
share.
| |
Mainland China Toll Free: |
4001-206115 |
| |
Hong Kong Toll Free: |
800-963976 |
| |
Singapore Toll Free: |
800-120-5863 |
| |
Conference ID: |
6137525 |
The replay will be accessible through
August 21, 2023, by dialing the following numbers:
| |
International: |
+1-412-317-0088 |
| |
United States Toll Free: |
+1-877-344-7529 |
| |
Conference ID: |
5510804 |
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/.
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 enhance its user experience and pursue long-term healthy
development. 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 share-based compensation expenses. Adjusted net income (loss) is calculated
as net income (loss) adjusted for share-based compensation expenses, share of income (loss) in equity method investments and impairment
loss of investments. Adjusted net income (loss) attributable to DouYu is calculated as net income (loss) attributable to DouYu adjusted
for share-based compensation expenses, share of income (loss) in equity method investments and impairment loss of investments. Adjusted
basic and diluted net 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 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 RMB7.2513 to US$1.00, the noon buying rate in
effect on June 30, 2023, 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, 2023
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
In China:
|
Lingling Kong
DouYu International Holdings Limited
Email: ir@douyu.tv
Tel: +86 (10) 6508-0677 |
Andrea Guo
The Piacente Group, Inc.
Email: douyu@tpg-ir.com
Tel: +86 (10) 6508-0677 |
In the United States:
|
Brandi Piacente
The Piacente Group, Inc.
Email: douyu@tpg-ir.com
Tel: +1-212-481-2050 |
|
Media Relations Contact
|
Lingling Kong
DouYu International
Holdings Limited
Email: pr_douyu@douyu.tv
Tel: +86
(10) 6508-0677 |
|
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 | |
| | |
2022 | | |
2023 | | |
2023 | |
| | |
RMB | | |
RMB | | |
US$ (1) | |
| ASSETS | |
| | |
| | |
| |
| Current assets: | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 4,041,603 | | |
| 4,514,968 | | |
| 622,643 | |
| Restricted cash | |
| 6,057 | | |
| 35,374 | | |
| 4,878 | |
| Short-term bank deposits | |
| 2,511,150 | | |
| 1,945,160 | | |
| 268,250 | |
| Accounts receivable, net | |
| 109,180 | | |
| 90,189 | | |
| 12,437 | |
| Prepayments | |
| 26,064 | | |
| 32,627 | | |
| 4,499 | |
| Amounts due from related parties | |
| 46,126 | | |
| 31,951 | | |
| 4,406 | |
| Other current assets | |
| 337,004 | | |
| 432,942 | | |
| 59,705 | |
| Total current assets | |
| 7,077,184 | | |
| 7,083,211 | | |
| 976,818 | |
| | |
| | | |
| | | |
| | |
| Property and equipment, net | |
| 16,988 | | |
| 14,222 | | |
| 1,961 | |
| Intangible assets, net | |
| 106,723 | | |
| 81,548 | | |
| 11,246 | |
| Long-term bank deposits | |
| 250,000 | | |
| 560,000 | | |
| 77,228 | |
| Investments | |
| 531,911 | | |
| 471,445 | | |
| 65,015 | |
| Goodwill | |
| 13,804 | | |
| 14,322 | | |
| 1,975 | |
| Right-of-use assets, net | |
| 49,911 | | |
| 34,777 | | |
| 4,796 | |
| Other non-current assets, net | |
| 98,845 | | |
| 95,105 | | |
| 13,116 | |
| Total non-current assets | |
| 1,068,182 | | |
| 1,271,419 | | |
| 175,337 | |
| TOTAL ASSETS | |
| 8,145,366 | | |
| 8,354,630 | | |
| 1,152,155 | |
| | |
| | | |
| | | |
| | |
LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES | |
| | | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | | |
| | |
| Accounts payable | |
| 666,985 | | |
| 596,282 | | |
| 82,231 | |
| Advances from customers | |
| 6,459 | | |
| 19,520 | | |
| 2,692 | |
| Deferred revenue | |
| 288,152 | | |
| 320,279 | | |
| 44,168 | |
| Accrued expenses and other current liabilities | |
| 302,801 | | |
| 219,831 | | |
| 30,316 | |
| Amounts due to related parties | |
| 266,788 | | |
| 374,218 | | |
| 51,607 | |
| Lease liabilities due within one year | |
| 27,479 | | |
| 21,158 | | |
| 2,918 | |
| Total current liabilities | |
| 1,558,664 | | |
| 1,551,288 | | |
| 213,932 | |
| | |
| | | |
| | | |
| | |
| Lease liabilities | |
| 19,572 | | |
| 11,818 | | |
| 1,630 | |
| Deferred revenue | |
| 6,570 | | |
| - | | |
| - | |
| Total non-current liabilities | |
| 26,142 | | |
| 11,818 | | |
| 1,630 | |
| TOTAL LIABILITIES | |
| 1,584,806 | | |
| 1,563,106 | | |
| 215,562 | |
(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023,
in the H.10 statistical release of the Federal Reserve Board.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(CONTINUED)
(All amounts in thousands, except share, ADS,
per share and per ADS data)
| | |
As of December 31 | | |
As of June 30 | |
| | |
2022 | | |
2023 | | |
2023 | |
| | |
RMB | | |
RMB | | |
US$ (1) | |
| SHAREHOLDERS' EQUITY | |
| | | |
| | | |
| | |
| Ordinary shares | |
| 23 | | |
| 23 | | |
| 3 | |
| Treasury shares | |
| (911,217) | | |
| (911,217) | | |
| (125,663) | |
| Additional paid-in capital | |
| 10,670,287 | | |
| 10,670,287 | | |
| 1,471,500 | |
| Accumulated deficit | |
| (3,520,525) | | |
| (3,499,160) | | |
| (482,556) | |
| Accumulated other comprehensive income | |
| 321,991 | | |
| 531,591 | | |
| 73,309 | |
| Total DouYu Shareholders’ Equity | |
| 6,560,559 | | |
| 6,791,524 | | |
| 936,593 | |
| Noncontrolling interests | |
| 1 | | |
| - | | |
| - | |
| Total Shareholders’ Equity | |
| 6,560,560 | | |
| 6,791,524 | | |
| 936,593 | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| 8,145,366 | | |
| 8,354,630 | | |
| 1,152,155 | |
(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023,
in the H.10 statistical release of the Federal Reserve Board.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF INCOME (LOSS)
(All amounts in thousands, except share, ADS,
per share and per ADS data)
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30,
2022 |
|
|
March 31,
2023 |
|
|
June 30,
2023 |
|
|
June 30,
2023 |
|
|
June 30,
2022 |
|
|
June 30,
2023 |
|
|
June 30,
2023 |
|
| |
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$
(1) |
|
|
RMB |
|
|
RMB |
|
|
US$
(1) |
|
| Net revenues |
|
|
1,833,205 |
|
|
|
1,483,060 |
|
|
|
1,392,193 |
|
|
|
191,992 |
|
|
|
3,628,851 |
|
|
|
2,875,253 |
|
|
|
396,516 |
|
| Cost of revenues |
|
|
(1,524,167) |
|
|
|
(1,306,594) |
|
|
|
(1,203,294) |
|
|
|
(165,942) |
|
|
|
(3,076,039) |
|
|
|
(2,509,888) |
|
|
|
(346,129) |
|
| Gross profit |
|
|
309,038 |
|
|
|
176,466 |
|
|
|
188,899 |
|
|
|
26,050 |
|
|
|
552,812 |
|
|
|
365,365 |
|
|
|
50,387 |
|
| Operating
(expenses) income (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales and marketing
expenses |
|
|
(167,463) |
|
|
|
(90,686) |
|
|
|
(87,047) |
|
|
|
(12,004) |
|
|
|
(353,822) |
|
|
|
(177,733) |
|
|
|
(24,511) |
|
| General and
administrative expenses |
|
|
(90,659) |
|
|
|
(59,793) |
|
|
|
(46,938) |
|
|
|
(6,473) |
|
|
|
(180,758) |
|
|
|
(106,731) |
|
|
|
(14,719) |
|
| Research and
development expenses |
|
|
(101,847) |
|
|
|
(72,311) |
|
|
|
(71,043) |
|
|
|
(9,797) |
|
|
|
(218,155) |
|
|
|
(143,354) |
|
|
|
(19,769) |
|
| Other
operating income, net |
|
|
20,375 |
|
|
|
19,046 |
|
|
|
8,615 |
|
|
|
1,188 |
|
|
|
68,175 |
|
|
|
27,661 |
|
|
|
3,815 |
|
| Total operating
expenses |
|
|
(339,594) |
|
|
|
(203,744) |
|
|
|
(196,413) |
|
|
|
(27,086) |
|
|
|
(684,560) |
|
|
|
(400,157) |
|
|
|
(55,184) |
|
| Loss from operations |
|
|
(30,556) |
|
|
|
(27,277) |
|
|
|
(7,514) |
|
|
|
(1,036) |
|
|
|
(131,748) |
|
|
|
(34,792) |
|
|
|
(4,797) |
|
| Other expenses,
net |
|
|
(28,884) |
|
|
|
(8,000) |
|
|
|
(53,554) |
|
|
|
(7,385) |
|
|
|
(30,032) |
|
|
|
(61,554) |
|
|
|
(8,489) |
|
| Interest income,
net |
|
|
23,570 |
|
|
|
54,426 |
|
|
|
67,252 |
|
|
|
9,274 |
|
|
|
40,201 |
|
|
|
121,679 |
|
|
|
16,780 |
|
| Foreign
exchange loss |
|
|
- |
|
|
|
(1,396) |
|
|
|
1,641 |
|
|
|
226 |
|
|
|
- |
|
|
|
245 |
|
|
|
34 |
|
| (Loss) Income before income taxes
and share of Loss in equity method investments |
|
|
(35,870) |
|
|
|
17,753 |
|
|
|
7,825 |
|
|
|
1,079 |
|
|
|
(121,579) |
|
|
|
25,578 |
|
|
|
3,528 |
|
| Income tax expense |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Share
of loss in equity method investments |
|
|
(2,887) |
|
|
|
(3,236) |
|
|
|
(977) |
|
|
|
(135) |
|
|
|
(4,033) |
|
|
|
(4,213) |
|
|
|
(581) |
|
| Net (loss) Income |
|
|
(38,757) |
|
|
|
14,517 |
|
|
|
6,848 |
|
|
|
944 |
|
|
|
(125,612) |
|
|
|
21,365 |
|
|
|
2,947 |
|
| Less:
Net loss attributable to noncontrolling interest |
|
|
(7,841) |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(7,841) |
|
|
|
- |
|
|
|
- |
|
| Net (loss)
income attributable to ordinary shareholders of the Company |
|
|
(30,916) |
|
|
|
14,517 |
|
|
|
6,848 |
|
|
|
944 |
|
|
|
(117,771) |
|
|
|
21,365 |
|
|
|
2,947 |
|
| Net (loss) income per ordinary
share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
(0.97) |
|
|
|
0.45 |
|
|
|
0.21 |
|
|
|
0.03 |
|
|
|
(3.69) |
|
|
|
0.67 |
|
|
|
0.09 |
|
| Diluted |
|
|
(0.97) |
|
|
|
0.45 |
|
|
|
0.21 |
|
|
|
0.03 |
|
|
|
(3.69) |
|
|
|
0.67 |
|
|
|
0.09 |
|
| Net
(loss) income per ADS(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
(0.10) |
|
|
|
0.05 |
|
|
|
0.02 |
|
|
|
- |
|
|
|
(0.37) |
|
|
|
0.07 |
|
|
|
0.01 |
|
| Diluted |
|
|
(0.10) |
|
|
|
0.05 |
|
|
|
0.02 |
|
|
|
- |
|
|
|
(0.37) |
|
|
|
0.07 |
|
|
|
0.01 |
|
| Weighted average number of ordinary
shares used in calculating net (loss) income per ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
31,827,240 |
|
|
|
32,023,551 |
|
|
|
31,977,664 |
|
|
|
31,977,664 |
|
|
|
31,947,461 |
|
|
|
32,000,608 |
|
|
|
32,000,608 |
|
| Diluted |
|
|
31,827,240 |
|
|
|
32,023,551 |
|
|
|
31,977,664 |
|
|
|
31,977,664 |
|
|
|
31,947,461 |
|
|
|
32,000,608 |
|
|
|
32,000,608 |
|
| Weighted
average number of ADS used in calculating net (loss) income per ADS(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
318,272,401 |
|
|
|
320,235,512 |
|
|
|
319,776,640 |
|
|
|
319,776,640 |
|
|
|
319,474,607 |
|
|
|
320,006,075 |
|
|
|
320,006,075 |
|
| Diluted |
|
|
318,272,401 |
|
|
|
320,235,512 |
|
|
|
319,776,640 |
|
|
|
319,776,640 |
|
|
|
319,474,607 |
|
|
|
320,006,075 |
|
|
|
320,006,075 |
|
(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023,
in the H.10 statistical release of the Federal Reserve Board.
(2) Share-based
compensation expenses were allocated in cost of revenues and operating expenses as follows:
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30,
2022 |
|
|
March 31,
2023 |
|
|
June 30,
2023 |
|
|
June 30,
2023 |
|
|
June 30,
2022 |
|
|
June 30,
2023 |
|
|
June 30,
2023 |
|
| |
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$
(1) |
|
|
RMB |
|
|
RMB |
|
|
US$
(1) |
|
| Research and development
expenses |
|
|
5,437 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
10,872 |
|
|
|
- |
|
|
|
- |
|
| Sales and marketing expenses |
|
|
1,213 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,425 |
|
|
|
- |
|
|
|
- |
|
| General and administrative expenses |
|
|
24,184 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
50,747 |
|
|
|
- |
|
|
|
- |
|
(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,
2022 |
|
|
March 31,
2023 |
|
|
June 30,
2023 |
|
|
June 30,
2023 |
|
|
June 30,
2022 |
|
|
June 30,
2023 |
|
|
June 30,
2023 |
|
| |
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$
(1) |
|
|
RMB |
|
|
RMB |
|
|
US$
(1) |
|
| Loss from operations |
|
|
(30,556) |
|
|
|
(27,277) |
|
|
|
(7,514) |
|
|
|
(1,036) |
|
|
|
(131,748) |
|
|
|
(34,792) |
|
|
|
(4,797) |
|
| Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Share-based
compensation expenses |
|
|
30,834 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
64,044 |
|
|
|
- |
|
|
|
- |
|
| Adjusted
Operating (loss) income |
|
|
278 |
|
|
|
(27,277) |
|
|
|
(7,514) |
|
|
|
(1,036) |
|
|
|
(67,704) |
|
|
|
(34,792) |
|
|
|
(4,797) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss) income |
|
|
(38,757) |
|
|
|
14,517 |
|
|
|
6,848 |
|
|
|
944 |
|
|
|
(125,612) |
|
|
|
21,365 |
|
|
|
2,947 |
|
| Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Share-based compensation expenses |
|
|
30,834 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
64,044 |
|
|
|
- |
|
|
|
- |
|
| Share of loss in equity method investments |
|
|
2,887 |
|
|
|
3,236 |
|
|
|
977 |
|
|
|
135 |
|
|
|
4,033 |
|
|
|
4,213 |
|
|
|
581 |
|
| Impairment loss
of investments |
|
|
28,571 |
|
|
|
8,000 |
|
|
|
53,554 |
|
|
|
7,385 |
|
|
|
28,571 |
|
|
|
61,554 |
|
|
|
8,489 |
|
| Adjusted
net (loss) income |
|
|
23,535 |
|
|
|
25,753 |
|
|
|
61,379 |
|
|
|
8,464 |
|
|
|
(28,964) |
|
|
|
87,132 |
|
|
|
12,017 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss) income attributable
to DouYu |
|
|
(30,916) |
|
|
|
14,517 |
|
|
|
6,848 |
|
|
|
944 |
|
|
|
(117,771) |
|
|
|
21,365 |
|
|
|
2,947 |
|
| Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Share-based compensation expenses |
|
|
30,834 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
64,044 |
|
|
|
- |
|
|
|
- |
|
| Share of loss in equity method investments |
|
|
2,887 |
|
|
|
3,236 |
|
|
|
977 |
|
|
|
135 |
|
|
|
4,033 |
|
|
|
4,213 |
|
|
|
581 |
|
| Impairment loss
of investments |
|
|
28,571 |
|
|
|
8,000 |
|
|
|
53,554 |
|
|
|
7,385 |
|
|
|
28,571 |
|
|
|
61,554 |
|
|
|
8,489 |
|
| Adjusted
net (loss) income attributable to DouYu |
|
|
31,376 |
|
|
|
25,753 |
|
|
|
61,379 |
|
|
|
8,464 |
|
|
|
(21,123) |
|
|
|
87,132 |
|
|
|
12,017 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjusted net (loss) income per ordinary
share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
0.99 |
|
|
|
0.80 |
|
|
|
1.92 |
|
|
|
0.26 |
|
|
|
(0.66) |
|
|
|
2.72 |
|
|
|
0.38 |
|
| Diluted |
|
|
0.99 |
|
|
|
0.80 |
|
|
|
1.92 |
|
|
|
0.26 |
|
|
|
(0.66) |
|
|
|
2.72 |
|
|
|
0.38 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjusted net (loss) income per ADS(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
0.10 |
|
|
|
0.08 |
|
|
|
0.19 |
|
|
|
0.03 |
|
|
|
(0.07) |
|
|
|
0.27 |
|
|
|
0.04 |
|
| Diluted |
|
|
0.10 |
|
|
|
0.08 |
|
|
|
0.19 |
|
|
|
0.03 |
|
|
|
(0.07) |
|
|
|
0.27 |
|
|
|
0.04 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average number of ordinary
shares used in calculating Adjusted net (loss) income per ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
31,827,240 |
|
|
|
32,023,551 |
|
|
|
31,977,664 |
|
|
|
31,977,664 |
|
|
|
31,947,461 |
|
|
|
32,000,608 |
|
|
|
32,000,608 |
|
| Diluted |
|
|
31,827,240 |
|
|
|
32,023,551 |
|
|
|
31,977,664 |
|
|
|
31,977,664 |
|
|
|
31,947,461 |
|
|
|
32,000,608 |
|
|
|
32,000,608 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted
average number of ADS used in calculating net (loss) income per ADS(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
318,272,401 |
|
|
|
320,235,512 |
|
|
|
319,776,640 |
|
|
|
319,776,640 |
|
|
|
319,474,607 |
|
|
|
320,006,075 |
|
|
|
320,006,075 |
|
| Diluted |
|
|
318,272,401 |
|
|
|
320,235,512 |
|
|
|
319,776,640 |
|
|
|
319,776,640 |
|
|
|
319,474,607 |
|
|
|
320,006,075 |
|
|
|
320,006,075 |
|
(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023,
in the H.10 statistical release of the Federal Reserve Board.
(2) Every
ten ADSs represent one ordinary share.
DouYu (NASDAQ:DOYU)
Historical Stock Chart
From Mar 2024 to Apr 2024
DouYu (NASDAQ:DOYU)
Historical Stock Chart
From Apr 2023 to Apr 2024
