Investment Rating - The report maintains a "Hold" rating for Douyu (DOYU.US) with a target price adjusted to $6.3 [2][5][12]. Core Insights - Douyu's live streaming revenue is expected to continue declining in 2024 due to the current regulatory environment and industry competition, with a projected decrease of 21% in live streaming revenue and a 10% decline in total revenue [2][3]. - The company's Q4 2023 revenue was RMB 1.3 billion, a year-on-year decrease of 23%, with live streaming revenue at RMB 1.02 billion, down 36% [2][3]. - Douyu's advertising and other revenues increased by 226% year-on-year to RMB 280 million, driven by innovative services such as game membership [2][3]. Financial Summary - For FY23, Douyu reported an adjusted net profit of RMB 150 million, with an adjusted net profit margin of 2.8% [2][3]. - The company experienced a decline in mobile MAU by 9.9% to 51.7 million and a 34% drop in quarterly paying users to 3.7 million [2][3]. - The gross margin decreased by 1.4 percentage points to 9.7% [2][3]. Share Buyback and Cash Position - Douyu announced a $20 million share buyback plan, which is modest compared to its cash reserves of approximately $960 million [2][3]. - The company executed a 10-for-1 share consolidation, which may help in cash value release in the future [2][3].

DouYu International Holdings Limited (NASDAQ:DOYU) Q4 2023 Earnings Conference Call March 26, 2024 7:00 AM ET Company Participants Lingling Kong - IR Director Hao Cao - Vice President of Finance Conference Call Participants Brian Gong - Citigroup Lei Zhang - Bank of America Merrill Lynch Raphael Chen - BOCI Research Derek Tse - Morgan Stanley Thomas Chong - Jefferies Operator Good morning, and good evening, ladies and gentlemen. Thank you, and welcome to DouYu International Holdings Limited's Fourth Quarter ...

DouYu International Holdings Limited (DOYU) is scheduled to report fourth-quarter 2023 results on Mar 26, before the opening bell. In the last reported quarter, earnings and revenues topped the Zacks Consensus Estimate by 200% and 4.2%, respectively. Earnings skyrocketed 200% year over year, but revenues fell 23.8% from the prior-year quarter’s figure.The Zacks Consensus Estimate for fourth-quarter 2023 earnings per share is pegged at a loss of 2 cents against break-even earnings reported in the prior year ...

WUHAN, China, March 15, 2024 /PRNewswire/ -- DouYu International Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU) today announced it plans to change the ratio of its American depositary shares (the "ADSs") to ordinary shares of the Company with a par value of US$0.0001 per ordinary share (each, an "Ordinary Share," and collectively, the "Ordinary Shares") from ten (10) ADSs representing one (1) Ordinary Share to one (1) ADS representing one (1) Ordinary Share (such change, the "ADS Ratio Change"). ...

WUHAN, China, March 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 that it plans to release its unaudited financial results for the fourth quarter and full year of 2023 before the U.S. market opens on Tuesday, March 26, 2024. The earnings release will be available on the Company's investor relations website at http://ir.douyu.com/.DouYu's ...

WUHAN, China, Dec. 28, 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 that its board of directors and management have authorized a share repurchase program under which the Company may repurchase up to US$20 million of its ordinary shares in the form of American depositary shares during a period of up to twelve months commencing on January 1, ...

DouYu International Holdings Limited (NASDAQ:DOYU) Q3 2023 Earnings Conference Call December 7, 2023 7:00 AM ET Corporate Participants Lingling Kong - IR Director Hao Cao - Vice President of Finance Conference Call Participants Thomas Chong - Jefferies Derick Pei - Morgan Stanley Katrina Chiu - Citi Lei Zhang - Bank of America Raphael Chen - BOCI Research Operator Good morning and good evening, ladies and gentlemen. Thank you and welcome to DouYu International Holdings Limited Third Quarter 2023 Earnings Co ...

Financial Performance - Total net revenues for Q3 2023 were RMB1,359.2 million (US$186.3 million), a decrease of 24.4% from RMB1,798.3 million in Q3 2022[1][4] - Gross profit for Q3 2023 was RMB192.4 million (US$26.4 million), compared to RMB251.2 million in the same period of 2022, with a gross margin of 14.2%[1][6] - Net income for Q3 2023 was RMB76.4 million (US$10.5 million), a significant improvement from a net loss of RMB6.6 million in Q3 2022[1][8] - Adjusted net income for Q3 2023 was RMB71.9 million (US$9.9 million), up 179.9% year-over-year from RMB25.7 million in Q3 2022[1][8] - Net revenues for the three months ended September 30, 2023, were RMB 1,359,189, a decrease of 24.5% compared to RMB 1,798,333 for the same period in 2022[25] - Gross profit for the three months ended September 30, 2023, was RMB 192,418, reflecting a gross margin of 14.2%[25] - The company reported a net income of RMB 76,377 for the three months ended September 30, 2023, compared to a net loss of RMB 6,643 for the same period in 2022[25] - The company reported a net income of RMB 76,377 million for the three months ended September 30, 2023, compared to a net loss of RMB 6,643 million in the same period last year, representing a significant turnaround[28] User Metrics - Average mobile MAUs in Q3 2023 were 51.7 million, down from 57.1 million in the same period of 2022[1][2] - Quarterly average paying users decreased to 3.9 million in Q3 2023 from 5.6 million in Q3 2022[1][2] Revenue Breakdown - Livestreaming revenues fell by 32.5% to RMB1,151.0 million (US$157.8 million) in Q3 2023, primarily due to a soft macroeconomic environment[1][4] - Advertising and other revenues increased by 123.2% to RMB208.2 million (US$28.5 million) in Q3 2023, driven by innovative business growth[1][4] Cost Management - Cost of revenues decreased by 24.6% to RMB1,166.8 million (US$159.9 million) in Q3 2023, reflecting effective cost management[1][5] - Research and development expenses for the three months ended September 30, 2023, were RMB 74,510, a decrease from RMB 84,371 in the same period of 2022[25] Cash and Assets - Cash and cash equivalents as of September 30, 2023, were RMB7,139.4 million (US$978.5 million), up from RMB6,808.8 million at the end of 2022[1][8] - Total assets increased from RMB 8,145,366 as of December 31, 2022, to RMB 8,396,443 as of September 30, 2023, representing a growth of 3.1%[21] - Cash and cash equivalents increased from RMB 4,041,603 as of December 31, 2022, to RMB 4,209,335 as of September 30, 2023[21] - The company’s total shareholders' equity increased to RMB 6,832,042 as of September 30, 2023, from RMB 6,560,559 as of December 31, 2022[23] Liabilities and Deficits - Total current liabilities remained stable at RMB 1,558,664 as of September 30, 2023, compared to RMB 1,584,806 as of December 31, 2022[21] - The company’s accumulated deficit decreased from RMB (3,520,525) as of December 31, 2022, to RMB (3,422,782) as of September 30, 2023[23] Impairments and Gains - The company experienced an impairment loss of investments amounting to RMB 53,554 million for the three months ended September 30, 2023, compared to RMB 32,298 million in the same period last year[28] - The company recorded a gain on disposal of investment of RMB 5,132 million for the three months ended September 30, 2023, compared to no such gain in the previous quarter[28] - The share of income (loss) in equity method investments for the three months ended September 30, 2023, was a loss of RMB 3,035 million, compared to a gain of RMB 977 million in the previous quarter[28] Adjusted Metrics - Adjusted operating loss for the three months ended September 30, 2023, was RMB 8,810 million, slightly worse than the RMB 7,514 million loss reported for the previous quarter[28] - Basic adjusted net loss income per ordinary share for the three months ended September 30, 2023, was RMB 2.25, an increase from RMB 1.92 in the previous quarter[28] - The weighted average number of ordinary shares used in calculating adjusted net loss income per ordinary share was 31,977,664 for the three months ended September 30, 2023, consistent with the previous quarter[28] - The weighted average number of ordinary shares used in calculating net income per ordinary share was 31,977,664 for the three months ended September 30, 2023[25] Overall Revenue - The company’s total revenue for the nine months ended September 30, 2023, was RMB 151,073 million, a significant increase from RMB 76,123 million in the same period last year[28]

DouYu International Holdings Limited (NASDAQ:DOYU) Q2 2023 Results Conference Call August 14, 2023 7:00 AM ET Company Participants Lingling Kong - IR Director Shaojie Chen - Chairman and Chief Executive Officer Mingming Su - Chief Strategy Officer Hao Cao - Vice President of Finance Conference Call Participants Lei Zhang - Bank of America Securities Thomas Chong - Jefferies Henry Sun - JPMorgan Raphael Chen - BOCI Research Cathy Tang - Morgan Stanley Operator Good morning and good evening, ladies and gentle ...

Financial Performance - Total net revenues for Q2 2023 were RMB1,392.2 million (US$192.0 million), a decrease of 24.1% from RMB1,833.2 million in Q2 2022[2] - Gross profit in Q2 2023 was RMB188.9 million (US$26.1 million), down from RMB309.0 million in Q2 2022, resulting in a gross margin of 13.6% compared to 16.9% in the same period last year[7] - Net income for Q2 2023 was RMB6.8 million (US$0.9 million), a significant improvement from a net loss of RMB38.8 million in Q2 2022[9] - Adjusted net income increased by 160.8% year-over-year to RMB61.4 million (US$8.5 million) in Q2 2023, compared to RMB23.5 million in Q2 2022[4] - Net revenues for the three months ended June 30, 2023, were RMB 1,392,193, a decrease of 22.4% compared to RMB 1,833,205 for the same period in 2022[31] - Gross profit for the three months ended June 30, 2023, was RMB 188,899, reflecting a gross margin of approximately 13.5%[31] - The company reported a net loss attributable to ordinary shareholders of RMB 6,848 for the three months ended June 30, 2023, compared to a net loss of RMB 30,916 for the same period in 2022[31] - The net loss income for the three months ended June 30, 2023, was RMB 6,848, compared to a net loss of RMB 38,757 for the same period in 2022, representing a significant improvement[32] - The net loss income for the six months ended June 30, 2023, was RMB 21,365, compared to a net loss of RMB 125,612 for the same period in 2022, showing a significant reduction in losses[32] User Metrics - Average mobile MAUs in Q2 2023 were 50.3 million, down from 55.7 million in the same period of 2022[2] - The number of quarterly average paying users decreased to 4.0 million in Q2 2023 from 6.6 million in Q2 2022[2] Revenue Breakdown - Livestreaming revenues fell by 28.8% to RMB1,258.3 million (US$173.5 million) in Q2 2023, primarily due to operational adjustments and a challenging macro environment[5] - Advertising and other revenues increased by 106.5% to RMB133.9 million (US$18.5 million) in Q2 2023, driven by game-specific membership services[5] Expenses and Liabilities - Sales and marketing expenses decreased by 48.0% to RMB87.0 million (US$12.0 million) in Q2 2023, reflecting reduced user acquisition costs[8] - Total current liabilities decreased slightly from RMB 1,558,664 as of December 31, 2022, to RMB 1,551,288 as of June 30, 2023[27] - Research and development expenses for the three months ended June 30, 2023, were RMB 71,043, down from RMB 101,847 for the same period in 2022[31] Cash and Assets - Cash and cash equivalents as of June 30, 2023, were RMB7,055.5 million (US$973.0 million), up from RMB6,808.8 million at the end of 2022[10] - Cash and cash equivalents increased from RMB 4,041,603 as of December 31, 2022, to RMB 4,514,968 as of June 30, 2023, indicating a rise of 11.7%[26] - Total assets increased from RMB 8,145,366 as of December 31, 2022, to RMB 8,354,630 as of June 30, 2023, representing a growth of 2.56%[26] - The company’s total shareholders' equity increased from RMB 6,560,559 as of December 31, 2022, to RMB 6,791,524 as of June 30, 2023, an increase of 3.5%[29] - Long-term bank deposits rose significantly from RMB 250,000 as of December 31, 2022, to RMB 560,000 as of June 30, 2023, marking a 124% increase[26] Shareholder Information - The weighted average number of ordinary shares used in calculating net loss per ordinary share was 31,977,664 for the three months ended June 30, 2023[31] - The adjusted net loss income per ordinary share for the three months ended June 30, 2023, was RMB 1.92, up from RMB 0.99 in the same period of the previous year[32] - The weighted average number of ordinary shares used in calculating adjusted net loss income per ordinary share for the three months ended June 30, 2023, was 31,977,664, compared to 31,827,240 for the same period in 2022[32] Investment Performance - The share of loss in equity method investments for the three months ended June 30, 2023, was RMB 977, down from RMB 2,887 in the same period of 2022, indicating improved performance in equity investments[32] - The impairment loss of investments for the three months ended June 30, 2023, was RMB 8,000, a decrease from RMB 28,571 in the same period of the previous year[32] Adjusted Losses - Adjusted net loss income attributable to DouYu for the six months ended June 30, 2023, was RMB 61,379, compared to a loss of RMB 21,123 for the same period in 2022, indicating a worsening trend[32] - The adjusted operating loss for the three months ended June 30, 2023, was RMB (7,514), an improvement from RMB (30,556) in the same period of 2022[32] - The share-based compensation expenses for the three months ended June 30, 2023, were RMB 30,834, which is a decrease from RMB 64,044 for the same period in 2022[32]