DouYu International Holdings Limited Reports Second Quarter 2022 Unaudited Financial Results

Rhea-AI Summary

DouYu International Holdings Limited (DOYU) reported its financial results for Q2 2022, revealing total net revenues of RMB 1,833.2 million (US$273.7 million), a decline of 21.6% year-over-year. The company's gross profit remained stable at RMB 309.0 million (US$46.1 million) with a gross margin increase to 16.9%. DouYu achieved an adjusted net income of RMB 23.5 million (US$3.5 million), a significant improvement from a loss in Q2 2021. Average mobile MAUs decreased to 55.7 million from 60.7 million, while quarterly average paying users fell to 6.6 million. DouYu continues to focus on operational efficiency and enhancing its content ecosystem.

Positive

• Adjusted net income rose to RMB 23.5 million (US$3.5 million), compared to a loss of RMB 145.1 million in Q2 2021.
• Gross margin improved to 16.9%, up from 13.1% in the same quarter last year.
• Cash and cash equivalents increased to RMB 6,685 million (US$998.0 million), providing strong liquidity.

Negative

• Total net revenues decreased by 21.6% to RMB 1,833.2 million (US$273.7 million).
• Average mobile MAUs dropped to 55.7 million from 60.7 million year-over-year.
• Quarterly average paying users declined to 6.6 million from 7.2 million in the same period of 2021.

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.

 

 

 

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SOURCE DouYu International Holdings Limited

FAQ

What were DouYu's total revenues for Q2 2022?

DouYu reported total net revenues of RMB 1,833.2 million (US$273.7 million) for Q2 2022.

How did DouYu's adjusted net income perform in Q2 2022?

The adjusted net income for DouYu in Q2 2022 was RMB 23.5 million (US$3.5 million), significantly improved from a loss in the prior year.

What was DouYu's gross profit margin in Q2 2022?

DouYu's gross profit margin improved to 16.9% in Q2 2022, up from 13.1% in the same quarter of 2021.

How many average mobile MAUs did DouYu have in Q2 2022?

DouYu had an average of 55.7 million mobile MAUs in Q2 2022, a decrease from 60.7 million in the prior year.

What was the change in DouYu's quarterly average paying users in Q2 2022?

The quarterly average paying user count declined to 6.6 million in Q2 2022 from 7.2 million year-over-year.