Financial Performance - Total net revenues for Q1 2024 were RMB1,039.7 million (US$144.0 million), a decrease of 29.9% from RMB1,483.1 million in Q1 2023[2]. - Gross profit in Q1 2024 was RMB109.0 million (US$15.1 million), down from RMB176.5 million in Q1 2023, resulting in a gross margin of 10.5% compared to 11.9%[7]. - Net loss for Q1 2024 was RMB88.0 million (US$12.2 million), compared to a net income of RMB14.5 million in Q1 2023[9]. - Total net revenues for the three months ended March 31, 2024, were RMB 1,295,962, a decrease from RMB 1,483,060 in the same period last year, representing a decline of approximately 12.6%[32]. - Gross profit for the same period was RMB 126,250, down from RMB 176,466 year-over-year, indicating a decrease of about 28.5%[32]. - The company reported a net loss of RMB 87,953 for the three months ended March 31, 2024, compared to a net income of RMB 14,517 in the prior year, reflecting a significant shift in performance[32]. - The adjusted operating loss for the three months ended March 31, 2024, was RMB (166,939) million, compared to RMB (86,401) million for the same period in 2023, indicating a significant increase in losses[34]. - The net income (loss) for the three months ended March 31, 2024, was RMB (87,953) million, reflecting ongoing challenges in the market[34]. User Metrics - Average mobile MAUs in Q1 2024 were 45.3 million, down from 50.2 million in Q1 2023[2]. - The number of quarterly average paying users in Q1 2024 was 3.4 million, a decrease from 4.5 million in Q1 2023[2]. Revenue Sources - Revenue from advertising and other sources increased by 109.3% to RMB238.8 million (US$33.1 million), contributing 23.0% of total revenue, up from 7.7% in Q1 2023[5]. - Livestreaming revenues decreased by 41.5% to RMB800.9 million (US$110.9 million) due to soft macroeconomic conditions and planned reductions in revenue-generating promotions[5]. Expenses - Research and development expenses decreased by 25.0% to RMB54.2 million (US$7.5 million) in Q1 2024[8]. - Operating expenses totaled RMB 275,945 for the latest quarter, an increase from RMB 203,744 in the same quarter last year, marking an increase of approximately 35.4%[32]. - Research and development expenses were RMB 54,150 for the three months ended March 31, 2024, down from RMB 72,311 in the same period last year, a decrease of about 25.1%[32]. Financial Position - As of March 31, 2024, the company had cash and cash equivalents totaling RMB6,762.2 million (US$936.6 million), a slight decrease from RMB6,855.5 million as of December 31, 2023[10]. - The company had total assets of RMB 8,140,650 as of March 31, 2024, compared to RMB 8,072,103 as of December 31, 2023, showing a slight increase of approximately 0.8%[30]. - Total current liabilities increased to RMB 1,376,069 as of March 31, 2024, from RMB 1,382,770 at the end of the previous quarter, indicating a decrease of about 0.2%[30]. - The company’s accumulated deficit increased to RMB (3,572,960) as of March 31, 2024, from RMB (3,485,007) at the end of the previous quarter, indicating a growing financial challenge[30]. - Cash and cash equivalents stood at RMB 4,440,131 as of December 31, 2023, with short-term bank deposits of RMB 1,716,540, reflecting a strong liquidity position[28]. Shareholder Information - The weighted average number of ordinary shares used in calculating net income (loss) per ordinary share was 31,807,180 for the three months ended March 31, 2024[32]. - The basic adjusted net income (loss) per ordinary share for the three months ended March 31, 2024, was RMB (2.69), compared to RMB (0.80) for the same period in 2023[34]. - The weighted average number of ordinary shares used in calculating adjusted net income (loss) per ordinary share for the three months ended March 31, 2024, was 31,807,180[34]. Impairment and Losses - The company reported an impairment of goodwill and intangible assets of RMB 34,035 million for the three months ended December 31, 2023[34]. - The share of loss in equity method investments for the three months ended March 31, 2024, was RMB 1,310 million, compared to RMB 3,236 million for the same period in 2023[34]. - The company experienced impairment losses of investments totaling RMB 21,844 million for the three months ended December 31, 2023[34]. - The adjusted net income (loss) attributable to DouYu for the three months ended March 31, 2024, was RMB (85,692) million, a decline from RMB (5,036) million in the same period last year[34].

Core Viewpoint - DouYu International Holdings Limited reported a significant decline in financial performance for the first quarter of 2024, with total net revenues decreasing by 29.9% year-over-year, reflecting challenges in the macroeconomic environment and the livestreaming industry dynamics [2][4]. Financial Performance - Total net revenues for Q1 2024 were RMB1,039.7 million (US$144.0 million), down from RMB1,483.1 million in Q1 2023 [2][4]. - Gross profit decreased to RMB109.0 million (US$15.1 million) from RMB176.5 million in the same period last year [2][7]. - The company reported a net loss of RMB88.0 million (US$12.2 million) compared to a net income of RMB14.5 million in Q1 2023 [2][8]. - Adjusted net loss was RMB85.7 million (US$11.9 million), a decline from adjusted net income of RMB25.8 million in the previous year [2][9]. User Metrics - Average mobile monthly active users (MAUs) were 45.3 million, down from 50.2 million in Q1 2023 [2]. - The number of quarterly average paying users decreased to 3.4 million from 4.5 million in the same period last year [2]. Revenue Breakdown - Livestreaming revenues fell by 41.5% to RMB800.9 million (US$110.9 million) due to soft macroeconomic conditions and a planned reduction in revenue-generating promotions [4][5]. - Advertising and other revenues increased by 109.3% to RMB238.8 million (US$33.1 million), driven by innovative business initiatives [5][6]. Cost Management - Cost of revenues decreased by 28.8% to RMB930.7 million (US$128.9 million) [5]. - Revenue-sharing fees and content costs dropped by 37.7% to RMB675.1 million (US$93.5 million) [6]. - Bandwidth costs decreased by 33.7% to RMB82.5 million (US$11.4 million) [6]. Operational Adjustments - The company is focusing on diversifying its commercialization capabilities and optimizing its organizational structure to enhance user experience [3]. - DouYu has returned RMB111.7 million related to historical illegal activities of third-party streamers to government authorities, recorded as an operating expense [3]. Strategic Developments - DouYu's board authorized a share repurchase program of up to US$20 million, with US$2.7 million repurchased by March 31, 2024 [10]. - The strategic cooperation agreement with Tencent was renewed for another three years, maintaining similar terms as previous agreements [11].

WUHAN, China, May 29, 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 first quarter 2024 before the U.S. market opens on Wednesday, June 5, 2024. The earnings release will be available on the Company's investor relations website at http://ir.douyu.com/.DouYu's management will hol ...

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 April 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 Exec ...

WUHAN, China, April 29, 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 has filed its annual report containing its audited consolidated financial statements for the fiscal year ended December 31, 2023 on Form 20-F with the Securities and Exchange Commission (the "SEC") on April 29, 2024 Eastern Time. The annual report can be accessed o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...

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"). ...