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 September 2024
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: |
September 12, 2024 |
|
By: |
/s/ Mingming Su |
| |
|
|
|
Name: |
Mingming Su |
| |
|
|
|
Title: |
Chief Strategy Officer, Director |
Exhibit 99.1
DouYu International
Holdings Limited Reports Second Quarter 2024 Unaudited Financial Results
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 loss1 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 MAUs2 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 users3 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.”
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.
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 ADS4 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 |
4 Every one ADS represents one ordinary share for the relevant
period and calendar year.
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.
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 | |
| | |
RMB | | |
RMB | | |
US$ (1) | |
| ASSETS | |
| | |
| | |
| |
| 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.
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