WUHAN, China,
Sept. 12,
2024 /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, 2024.
Second Quarter 2024 Financial
and Operational Highlights
- Total net revenues in the second quarter of 2024 were
RMB1,032.0 million (US$142.0 million), compared with RMB1,392.2 million in the same period of
2023.
- Gross profit in the second quarter of 2024 was RMB84.2 million (US$11.6
million), compared with RMB188.9
million in the same period of 2023.
- Net loss in the second quarter of 2024 was RMB49.2 million (US$6.8
million), compared with net income of RMB6.8 million in the same period of 2023.
- Adjusted net loss[1] in the second quarter of 2024
was RMB45.5 million (US$6.3 million), compared with adjusted net
income of RMB61.4 million in the same
period of 2023.
- Average mobile MAUs[2] in the second quarter of 2024
were 44.1 million, compared with 50.3 million in the same period of
2023.
- The number of quarterly average paying users[3] in
the second quarter of 2024 was 3.4 million, compared with 4.0
million in the same period of 2023.
The interim management committee of DouYu commented, "In the
second quarter of 2024, we further enriched our content ecosystem
and enhanced our diversified commercialization capabilities. In
deepening our collaboration with streamers and game developers on
content innovation and product upgrades, we successfully introduced
diverse cooperative models that bring DouYu users more exceptional
content experiences and an expanded array of gaming services. Our
long-term development strategy remains centered on fostering a
vibrant, diverse, game-centric content ecosystem by harnessing the
strengths of DouYu's deep-rooted streamer resources and premium
content. We will continue to dynamically adapt our operating
strategies amid the evolving macroeconomic and industry shifts,
proactively addressing challenges and optimizing our platform's
content ecosystem to serve our overarching goal of long-term,
sustainable growth."
Mr. Hao Cao, Vice President of DouYu, commented, "Our strategic
revenue diversification initiatives yielded encouraging results in
the second quarter. Revenue from Innovative business, advertising
and others (formerly known as advertising and other revenues)
steadily increased to RMB242 million,
contributing 23.4% of our total revenue, a significant improvement
from 9.6% in the same period of 2023. Despite short-term financial
pressure from macroeconomic headwinds and an evolving business
landscape, we remain committed to rewarding the trust and support
of our shareholders. In addition to our US$20 million share repurchase program announced
in December 2023, which was
successfully completed in July, we announced a US$300 million special cash dividend in early
July. Looking ahead, we will continue to explore commercial
diversification pathways, prioritizing the Company's long-term,
healthy growth to deliver value to our shareholders."
Second Quarter 2024 Financial Results
Total net revenues in the second quarter of 2024
decreased by 25.9% to RMB1,032.0
million (US$142.0 million),
compared with RMB1,392.2 million in
the same period of 2023.
Livestreaming revenues in the second quarter of 2024
decreased by 37.2% to RMB790.1
million (US$108.7 million)
from RMB1,258.3 million in the same
period of 2023. The decrease was primarily due to the soft
macroeconomic environment, in response to which we offered
lower-priced products and reduced promotional events focused on
paying user acquisition. As a result, there was a year-over-year
decrease in both average revenue per paying user and the number of
total paying users.
Innovative business, advertising and other revenues (formerly
known as advertising and other revenues) in
the second quarter of 2024 increased by 80.7% to RMB242.0 million (US$33.3
million) from RMB133.9 million
in the same period of 2023. The increase was primarily driven by an
increase in other revenues generated through our other innovative
business, such as the voice-based social networking service.
Cost of revenues in the second quarter of 2024
decreased by 21.2% to RMB947.8
million (US$130.4 million)
from RMB1,203.3 million
in the same period of 2023.
Revenue-sharing fees and content costs in the second
quarter of 2024 decreased by 18.1% to RMB803.4 million (US$110.6 million)
from RMB981.3 million
in the same period of 2023. The decrease
was primarily due to a decrease in revenue-sharing fees aligned
with decreased livestreaming revenues, as well as a decline in
content costs resulting from improved cost management in streamer
payments and copyrighted content, and partially offset by the
increase in costs related to the innovative business.
Bandwidth costs in the second quarter of 2024 decreased
by 33.0% to RMB79.6 million
(US$11.0 million) from RMB118.8 million in the same period of 2023. The
decline was primarily due to a year-over-year decrease in peak
bandwidth usage.
Gross profit in the second quarter of 2024 was
RMB84.2 million (US$11.6 million), compared with RMB188.9 million in the same period of 2023. The
decline in gross profit was primarily due to the decrease in
livestreaming revenues outpacing the decline in cost of revenues.
Gross margin in the second quarter of 2024 was 8.2%, compared with
13.6% in the same period of 2023.
Sales and marketing expenses in the second quarter of
2024 decreased by 11.5% to RMB77.0
million (US$10.6
million) from RMB87.0
million in the same period of 2023. The decrease was mainly
attributable to a decrease in staff-related expenses.
Research and development expenses in the second quarter
of 2024 decreased by 29.4% to RMB50.1
million (US$6.9 million) from
RMB71.0 million in the same period of
2023. The decrease was primarily due to a decrease in staff-related
expenses.
General and administrative expenses in the second quarter
of 2024 increased by 3.4% to RMB48.5
million (US$6.7 million) from
RMB46.9 million in the same period of
2023. The increase was primarily due to increased expenses related
to our employee streamlining initiatives.
Other operating expenses, net in the second
quarter of 2024 were RMB28.2 million
(US$3.9 million), compared with other
operating income of RMB8.6 million in
the same period of 2023.
Loss from operations in the second quarter of 2024 was
RMB119.6 million (US$16.5 million), compared with RMB7.5 million in the same period of 2023.
Net loss in the second quarter of 2024 was
RMB49.2 million (US$6.8 million), compared with net income of
RMB6.8 million in the same period of
2023.
Adjusted net loss, which excludes the share of loss in
equity method investments, and impairment loss of investments, was
RMB45.5 million (US$6.3 million) in the second quarter of 2024,
compared with adjusted net income of RMB61.4
million in the same period of 2023.
Basic and diluted
net loss per
ADS[4] in the second
quarter of 2024 were both RMB1.58 (US$0.22). Adjusted basic and
diluted net loss per ADS in the second
quarter of 2024 were both RMB1.46
(US$0.20).
Cash and cash equivalents, restricted cash and bank
deposits
As of June 30, 2024, the Company
had cash and cash equivalents, restricted cash, restricted cash in
other non-current assets, and short-term and long-term bank
deposits of RMB6,561.3 million
(US$902.9 million), compared with
RMB6,855.5 million as of December 31, 2023.
Updates of Share Repurchase Program
On December 28, 2023, the Company
announced that its board of directors had authorized a share
repurchase program under which the Company may repurchase up to
US$20 million of its ordinary shares
in the form of ADSs during a period of up to 12 months commencing
on January 1, 2024. As of
June 30, 2024, the Company had repurchased an aggregate of
US$11.2 million of its ADSs in
the open market under this program. The allotment of US$20 million was used in full by July 18, 2024.
Conference Call Information
The Company will hold a conference call on September 12, 2024, 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
|
|
Mainland China
Toll-Free:
|
4001-206115
|
|
Hong Kong
Toll Free:
|
800-963976
|
|
Singapore Toll
Free:
|
800-120-5863
|
|
Conference ID:
|
8687804
|
The replay will be accessible through
September
19, 2024, by dialing the following numbers:
|
International:
|
+1-412-317-0088
|
|
United States Toll Free:
|
+1-877-344-7529
|
|
Conference ID:
|
1678388
|
A live and archived webcast
of the conference call will also be available on the Company's
investor relations website
at http://ir.douyu.com.
|
[1] "Adjusted net loss"
is defined as net loss excluding 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.
[4] Every one ADS
represents one ordinary share for the relevant period and calendar
year.
|
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 the
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 net income (loss) is calculated as net income (loss)
adjusted for share of 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 of 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 of loss in equity method investments, (ii)
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 RMB7.2672 to US$1.00, the noon buying rate in effect on
June 28, 2024, 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 28, 2024, 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
Piacente Financial
Communications
Email:
douyu@tpg-ir.com
Tel: +86 (10)
6508-0677
|
In the United States:
|
Brandi
Piacente
Piacente Financial
Communications
Email:
douyu@tpg-ir.com
Tel:
+1-212-481-2050
|
|
Media Relations Contact
In China:
|
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
|
|
2023
|
|
2024
|
|
2024
|
|
ASSETS
|
RMB
|
|
RMB
|
|
US$ (1)
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
4,440,131
|
|
4,061,140
|
|
558,831
|
|
Restricted
cash
|
-
|
|
21
|
|
3
|
|
Short-term bank
deposits
|
1,716,540
|
|
1,974,461
|
|
271,695
|
|
Accounts receivable,
net
|
73,453
|
|
52,279
|
|
7,194
|
|
Prepayments
|
38,181
|
|
26,085
|
|
3,589
|
|
Amounts due from
related parties
|
68,994
|
|
61,859
|
|
8,512
|
|
Other current assets,
net
|
348,129
|
|
482,012
|
|
66,327
|
|
Total current
assets
|
6,685,428
|
|
6,657,857
|
|
916,151
|
|
|
|
|
|
|
|
Property and
equipment, net
|
13,808
|
|
8,525
|
|
1,172
|
|
Intangible assets,
net
|
120,694
|
|
141,671
|
|
19,495
|
|
Long-term bank
deposits
|
630,000
|
|
450,000
|
|
61,922
|
|
Investments
|
436,197
|
|
431,112
|
|
59,323
|
|
Right-of-use assets,
net
|
22,792
|
|
5,925
|
|
815
|
|
Other non-current
assets
|
163,184
|
|
138,797
|
|
19,099
|
|
Total non-current
assets
|
1,386,675
|
|
1,176,030
|
|
161,826
|
|
TOTAL
ASSETS
|
8,072,103
|
|
7,833,887
|
|
1,077,977
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Accounts
payable
|
534,428
|
|
464,509
|
|
63,919
|
|
Advances from
customers
|
12,911
|
|
10,194
|
|
1,403
|
|
Deferred
revenue
|
315,969
|
|
271,061
|
|
37,299
|
|
Accrued expenses and
other current liabilities
|
246,601
|
|
191,607
|
|
26,366
|
|
Amounts due to related
parties
|
251,392
|
|
382,574
|
|
52,644
|
|
Lease liabilities due
within one year
|
14,768
|
|
4,523
|
|
622
|
|
Total current
liabilities
|
1,376,069
|
|
1,324,468
|
|
182,253
|
|
|
|
|
|
|
|
Lease
liabilities
|
6,701
|
|
563
|
|
77
|
|
Total non-current
liabilities
|
6,701
|
|
563
|
|
77
|
|
TOTAL
LIABILITIES
|
1,382,770
|
|
1,325,031
|
|
182,330
|
|
|
|
|
|
|
|
(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 RMB7.2672
to US$1.00, the noon buying rate in effect on June 28, 2024, in
the
H.10 statistical
release of the Federal Reserve Board.
|
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
|
As of June
30
|
|
2023
|
|
2024
|
|
2024
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
Ordinary
shares
|
23
|
|
23
|
|
3
|
|
Treasury
shares
|
(911,217)
|
|
(991,370)
|
|
(136,417)
|
|
Additional paid-in
capital
|
10,670,287
|
|
10,670,287
|
|
1,468,280
|
|
Accumulated
deficit
|
(3,485,007)
|
|
(3,622,129)
|
|
(498,422)
|
|
Accumulated other
comprehensive income
|
415,247
|
|
452,045
|
|
62,203
|
|
Total DouYu
Shareholders' Equity
|
6,689,333
|
|
6,508,856
|
|
895,647
|
|
Total Shareholders'
Equity
|
6,689,333
|
|
6,508,856
|
|
895,647
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
8,072,103
|
|
7,833,887
|
|
1,077,977
|
|
|
|
|
|
|
|
(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 RMB7.2672 to
US$1.00, the noon buying rate in effect on June 28, 2024, in
the
H.10 statistical
release of the Federal Reserve Board.
|
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(LOSS)
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
2023
|
|
March
31,
2024
|
|
June
30,
2024
|
|
June
30,
2024
|
|
June
30,
2023
|
|
June
30,
2024
|
|
June
30,
2024
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$ (1)
|
|
RMB
|
|
RMB
|
|
US$ (1)
|
|
Net
revenues
|
1,392,193
|
|
1,039,684
|
|
1,032,041
|
|
142,014
|
|
2,875,253
|
|
2,071,725
|
|
285,079
|
|
Cost of
revenues
|
(1,203,294)
|
|
(930,678)
|
|
(947,823)
|
|
(130,425)
|
|
(2,509,888)
|
|
(1,878,501)
|
|
(258,490)
|
|
Gross
profit
|
188,899
|
|
109,006
|
|
84,218
|
|
11,589
|
|
365,365
|
|
193,224
|
|
26,589
|
|
Operating income
(expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(87,047)
|
|
(75,570)
|
|
(76,963)
|
|
(10,590)
|
|
(177,733)
|
|
(152,533)
|
|
(20,989)
|
|
General and
administrative expenses
|
(46,938)
|
|
(42,797)
|
|
(48,496)
|
|
(6,673)
|
|
(106,731)
|
|
(91,293)
|
|
(12,562)
|
|
Research and
development expenses
|
(71,043)
|
|
(54,150)
|
|
(50,135)
|
|
(6,899)
|
|
(143,354)
|
|
(104,285)
|
|
(14,350)
|
|
Other operating income
(expense), net
|
8,615
|
|
(103,428)
|
|
(28,189)
|
|
(3,879)
|
|
27,661
|
|
(131,617)
|
|
(18,111)
|
|
Total operating
expenses
|
(196,413)
|
|
(275,945)
|
|
(203,783)
|
|
(28,041)
|
|
(400,157)
|
|
(479,728)
|
|
(66,012)
|
|
Loss from
operations
|
(7,514)
|
|
(166,939)
|
|
(119,565)
|
|
(16,452)
|
|
(34,792)
|
|
(286,504)
|
|
(39,423)
|
|
Other expenses,
net
|
(24,431)
|
|
-
|
|
(943)
|
|
(130)
|
|
(32,431)
|
|
(943)
|
|
(130)
|
|
Interest
income
|
67,252
|
|
81,094
|
|
75,972
|
|
10,454
|
|
121,679
|
|
157,066
|
|
21,613
|
|
Foreign exchange gain,
net
|
1,641
|
|
153
|
|
604
|
|
83
|
|
245
|
|
757
|
|
104
|
|
Income (loss) before
income taxes and share of loss
in equity
method investments
|
36,948
|
|
(85,692)
|
|
(43,932)
|
|
(6,045)
|
|
54,701
|
|
(129,624)
|
|
(17,836)
|
|
Income tax
expense
|
-
|
|
-
|
|
(2,510)
|
|
(345)
|
|
-
|
|
(2,510)
|
|
(345)
|
|
Share of loss in
equity method investments
|
(30,100)
|
|
(2,261)
|
|
(2,727)
|
|
(375)
|
|
(33,336)
|
|
(4,988)
|
|
(686)
|
|
Net
income (loss)
|
6,848
|
|
(87,953)
|
|
(49,169)
|
|
(6,765)
|
|
21,365
|
|
(137,122)
|
|
(18,867)
|
|
Net
income (loss) attributable to
ordinary
shareholders of the
Company
|
6,848
|
|
(87,953)
|
|
(49,169)
|
|
(6,765)
|
|
21,365
|
|
(137,122)
|
|
(18,867)
|
|
Net income (loss) per ordinary
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
0.21
|
|
(2.77)
|
|
(1.58)
|
|
(0.22)
|
|
0.67
|
|
(4.36)
|
|
(0.60)
|
|
Diluted
|
0.21
|
|
(2.77)
|
|
(1.58)
|
|
(0.22)
|
|
0.67
|
|
(4.36)
|
|
(0.60)
|
|
Net
income (loss) per ADS(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
0.21
|
|
(2.77)
|
|
(1.58)
|
|
(0.22)
|
|
0.67
|
|
(4.36)
|
|
(0.60)
|
|
Diluted
|
0.21
|
|
(2.77)
|
|
(1.58)
|
|
(0.22)
|
|
0.67
|
|
(4.36)
|
|
(0.60)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in calculating net income (loss) per
ordinary share
|
|
Basic
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
Diluted
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in calculating net income (loss) per
ADS(2)
|
|
Basic
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
Diluted
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
|
(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 RMB7.2672 to
US$1.00, the noon buying rate in effect on June 28, 2024, in the
H.10 statistical
release of the Federal
Reserve Board.
(2) Every
one ADS represents one ordinary share.
|
|
RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
2023
|
|
March
31,
2024
|
|
June
30,
2024
|
|
June
30,
2024
|
|
June
30,
2023
|
|
June
30,
2024
|
|
June
30,
2024
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$ (1)
|
|
RMB
|
|
RMB
|
|
US$ (1)
|
|
Loss from
operations
|
(7,514)
|
|
(166,939)
|
|
(119,565)
|
|
(16,452)
|
|
(34,792)
|
|
(286,504)
|
|
(39,423)
|
|
Adjusted operating
loss
|
(7,514)
|
|
(166,939)
|
|
(119,565)
|
|
(16,452)
|
|
(34,792)
|
|
(286,504)
|
|
(39,423)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
6,848
|
|
(87,953)
|
|
(49,169)
|
|
(6,765)
|
|
21,365
|
|
(137,122)
|
|
(18,867)
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of loss in equity
method investments
|
30,100
|
|
2,261
|
|
2,727
|
|
375
|
|
33,336
|
|
4,988
|
|
686
|
|
Impairment loss of
investments(2)
|
24,431
|
|
-
|
|
943
|
|
130
|
|
32,431
|
|
943
|
|
130
|
|
Adjusted net income
(loss)
|
61,379
|
|
(85,692)
|
|
(45,499)
|
|
(6,260)
|
|
87,132
|
|
(131,191)
|
|
(18,051)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to DouYu
|
6,848
|
|
(87,953)
|
|
(49,169)
|
|
(6,765)
|
|
21,365
|
|
(137,122)
|
|
(18,867)
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of loss in equity
method investments
|
30,100
|
|
2,261
|
|
2,727
|
|
375
|
|
33,336
|
|
4,988
|
|
686
|
|
Impairment loss of
investments
|
24,431
|
|
-
|
|
943
|
|
130
|
|
32,431
|
|
943
|
|
130
|
|
Adjusted net income
(loss) attributable to DouYu
|
61,379
|
|
(85,692)
|
|
(45,499)
|
|
(6,260)
|
|
87,132
|
|
(131,191)
|
|
(18,051)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net income
(loss) per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
1.92
|
|
(2.69)
|
|
(1.46)
|
|
(0.20)
|
|
2.72
|
|
(4.17)
|
|
(0.57)
|
|
Diluted
|
1.92
|
|
(2.69)
|
|
(1.46)
|
|
(0.20)
|
|
2.72
|
|
(4.17)
|
|
(0.57)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net income
(loss) per ADS(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
1.92
|
|
(2.69)
|
|
(1.46)
|
|
(0.20)
|
|
2.72
|
|
(4.17)
|
|
(0.57)
|
|
Diluted
|
1.92
|
|
(2.69)
|
|
(1.46)
|
|
(0.20)
|
|
2.72
|
|
(4.17)
|
|
(0.57)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in calculating Adjusted net income
(loss) per ordinary share
|
|
Basic
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
Diluted
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in calculating net income (loss) per
ADS(2)
|
|
Basic
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
Diluted
|
31,977,665
|
|
31,807,180
|
|
31,128,544
|
|
31,128,544
|
|
32,000,608
|
|
31,467,862
|
|
31,467,862
|
|
|
(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 RMB7.2672 to
US$1.00, the noon buying rate in effect on June 28, 2024, in the
H.10 statistical
release of the Federal
Reserve Board.
(2)
Impairment loss of investments was included in line item "Other
expenses, net" of condensed consolidated statements of income
(loss).
(3) Every
one ADS represents one ordinary share.
|
View original
content:https://www.prnewswire.com/news-releases/douyu-international-holdings-limited-reports-second-quarter-2024-unaudited-financial-results-302246277.html
SOURCE DouYu International Holdings Limited