Company Overview - DouYu International Holdings Limited is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain [2] - The company operates on both PC and mobile apps, providing users with access to immersive and interactive games, entertainment livestreaming, and a variety of video and graphic content [2] - DouYu focuses on nurturing a sustainable technology-based talent development system and producing high-quality content, enhancing user experience and pursuing long-term healthy development [2] Financial Announcement - DouYu plans to release its unaudited financial results for the first quarter of 2025 before the U.S. market opens on May 20, 2025 [1] - The earnings release will be accessible on the company's investor relations website [1]

Core Insights - The event "CF Five Hi Festival" was successfully held in Ningbo, featuring collaborations between Douyu, Wangyu Internet Cafe, and other commercial entities, creating an immersive experience for players [1][12] - Douyu launched a special purchasing event during the festival, offering exclusive items and rare skins, enhancing the shopping experience for fans [1][2] Event Highlights - Top Douyu streamers, including Bai Sha AyoM and Nian Peng Enpi, participated in the event, engaging with fans and reminiscing about the game's history [1][7] - The purchasing event featured popular items such as the CF-SEASON PASS exclusive props and limited edition skins, attracting significant attention and resulting in rapid sales [2][5] Audience Engagement - The event included interactive segments where streamers acted as "internet cafe managers," selling packages and engaging with long-time players, fostering a warm atmosphere [7] - A competitive segment, the "Star Player Match," saw increased participation, leading to a change in format from 5v5 to 8v8 due to high demand from fans [10] Strategic Insights - Douyu's approach combined online and offline resources, moving beyond traditional live-streaming sales to create a multi-faceted event structure that enhances user engagement [12] - The company aims to deepen collaborations with game developers, leveraging its platform to provide better content and services while expanding brand influence for game manufacturers [12][13]

Core Viewpoint - The United States District Court for the District of New Jersey has approved a proposed class action settlement for purchasers of American Depositary Shares of DouYu International Holdings Limited, amounting to $2,250,000 in cash [1][3]. Group 1: Settlement Details - The proposed settlement is intended for individuals who purchased DouYu's ADSs between April 30, 2021, and November 27, 2023, and were affected by the claims [2]. - A hearing is scheduled for August 18, 2025, to determine the fairness and adequacy of the proposed settlement, as well as to address the dismissal of the action against the defendants [4]. - Members of the settlement class must submit a Claim Form by July 21, 2025, to be eligible for a share of the settlement fund [6]. Group 2: Exclusion and Objection Procedures - Settlement class members wishing to exclude themselves must submit a request for exclusion by July 28, 2025, to avoid being bound by court judgments [7]. - Any objections to the proposed settlement or related motions must be filed with the court and delivered to relevant parties by July 28, 2025 [8].

清华教授马少平表示，技术发展会创造出新的岗位，即使替换了已有人力的工作岗位，也可能会带来新的休息时间和假期。 整理 ｜丁丁炒面 点击上方【36氪随声听】，一键收听大公司热门新闻。听完音频记得添加进入 【我的小程序】 中哟！ 曹操出行 36氪获悉，据港交所，曹操出行在港交所提交IPO申请。 活力集团 活力集团控股有限公司于2024年10月29日递交的港股招股书满6个月，于2025年4月29日失效，递表时招商证券（香港）有限公司、民银资本有限公司为 其联席保荐人。（界面新闻） 清华教授表示将来有望每周上三休四 4月28日，清华教授马少平 在选择与回响眼界沙龙中表示，技术发展会创造出新的岗位，即使替换了已有人力的工作岗位，也可能会带来新的休息时间和 假期。未来有望一周只上三天班，有四天休息游玩时间。所以不要畏惧技术的发展，AI的发展一定会让人们更加轻松。（腾讯新闻） 永辉超市回应标价7.96元实收8元 奈雪的茶门店通知能喝奶茶就不要喝水 近日，刘先生在重庆永辉超市金源时代店购买标价为7.96元的淡虾米，支付100元现金后找零92元。按实际金额计算应支付7.96元，但超市采用分位"四舍 五入"规则，实际收取8元。刘先 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 EXHIBIT INDEX | Exhibit No. | Description | | --- | --- | | 99.1 | Press Release | 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 2025 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 Distri ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the fiscal year ended December 31, 2024. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 WASHINGTON, D.C. 20549 OR FORM 20-F ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (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 SECURITI ...

Group 1 - Douyu has been subjected to a compulsory execution amounting to approximately 3.5062 million RMB [1] - The execution court is the Donghu District People's Court of Nanchang City, Jiangxi Province [1] - Douyu was established in May 2015 with a registered capital of approximately 22.3416 million RMB [1] Group 2 - The company holds multiple software copyrights, including Douyu Live Windows system PC client software and Douyu PC client [1]

Financial Data and Key Metrics Changes - Total net revenues decreased by 12.3% year-over-year in Q4 2024 to RMB 1.14 billion from RMB 1.3 billion in Q4 2023, primarily driven by a 28.4% decline in livestreaming revenues to RMB 0.73 billion [35] - Gross profit in Q4 2024 was RMB 69.8 million compared to RMB 126.2 million in the same period of 2023, with a gross margin of 6.1% compared to 9.7% in Q4 2023 [40][41] - Net loss for Q4 2024 was RMB 163.7 million compared to RMB 62.2 million in Q4 2023, with adjusted net loss of RMB 144.3 million compared to RMB 68.8 million in the same period last year [43][44] Business Line Data and Key Metrics Changes - Revenues from innovative business, advertising, and others increased by 63.6% year-over-year to RMB 1.2 billion for the full year of 2024, contributing 28% of total revenue [33][49] - The total number of paying users in Q4 was 3.3 million, with a quarterly ARPPU of RMB 246, reflecting an 11.5% year-over-year decline [16][36] - Innovative business revenues increased by 47.2% in Q4 to RMB 405.1 million, marking a significant milestone in revenue diversification [37] Market Data and Key Metrics Changes - Mobile MAUs were 44.5 million, increasing 5.9% quarter-over-quarter but decreasing 13.9% year-over-year, largely due to evolving gaming video content dynamics [11] - The contribution of innovative business to total revenue reached 35.7% in Q4, indicating a shift towards diversified revenue streams [37] Company Strategy and Development Direction - The company aims to focus on cost reduction, efficiency improvement, and narrowing losses in 2025, emphasizing revenue resilience and monetization opportunities within its niche game ecosystem [22][23] - Plans include enhancing AI capabilities, optimizing cost structures, and exploring cross-platform content cooperation to improve operational efficiency [28][26] - The company is committed to fostering a vibrant game-centric content ecosystem while prioritizing shareholder interests through dividend distributions and share buybacks [62][64] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a soft macroeconomic landscape and intensified market competition, emphasizing the need for flexible operational strategies [7] - The focus for 2025 will be on improving margins, achieving financial resilience, and navigating market conditions through solid execution of strategies [45][32] - Management expressed confidence in the company's ability to narrow losses and secure financial stability despite potential short-term declines in user base and revenue [30][31] Other Important Information - The company declared two special cash dividends totaling USD 600 million, reflecting its commitment to rewarding shareholders while maintaining a healthy cash position [10][44] - Cash and cash equivalents as of December 31, 2024, were RMB 4.47 billion, down from RMB 6.86 billion a year earlier, primarily due to dividend distributions [44] Q&A Session Summary Question: What are the expectations for the audio business and game props business in 2025? - Management highlighted that revenue from innovative business increased by 36.6% year-over-year and plans to allocate more resources to further propel revenue growth in 2025 [49][50] - The voice-based social networking business will focus on refined traffic distribution, AI integration, and product innovation to enhance user experience and revenue [52][53] Question: What is the plan for future cash usage? - Management stated that after the dividend distribution, the company maintains sufficient cash reserves to manage business fluctuations and support development initiatives [56] Question: How should the long-term development strategy be interpreted? - Management emphasized reallocating resources from inefficient initiatives to high-value segments, aiming for stable healthy growth while prioritizing shareholder interests [60][62] Question: What is the user and financial impact of tournament procurement and streamer strategic adjustments? - Management indicated a flexible approach to acquiring copyright content, focusing on cost-effective tournaments and optimizing streamer resources to improve operational efficiency [68][74]

Financial Data and Key Metrics Changes - Total net revenues decreased by 12.3% year-over-year in Q4 2024 to RMB 1.14 billion from RMB 1.3 billion in Q4 2023, primarily driven by a 28.4% decline in livestreaming revenues to RMB 0.73 billion [35] - Gross profit in Q4 2024 was RMB 69.8 million compared to RMB 126.2 million in Q4 2023, with a gross margin of 6.1% down from 9.7% [40][41] - Net loss for Q4 2024 was RMB 163.7 million compared to RMB 62.2 million in Q4 2023, with adjusted net loss at RMB 144.3 million compared to RMB 68.8 million [43] Business Line Data and Key Metrics Changes - Revenues from innovative business, advertising, and others increased by 63.6% year-over-year to RMB 1.2 billion for the full year of 2024, contributing 28% to total revenue [33][49] - The total number of paying users in Q4 was 3.3 million, with a quarterly ARPPU of RMB 246, reflecting an 11.5% year-over-year decline [16][36] Market Data and Key Metrics Changes - Mobile MAUs were 44.5 million, increasing 5.9% quarter-over-quarter but decreasing 13.9% year-over-year, attributed to evolving gaming video content dynamics [11] - The innovative business's contribution to total revenue reached 35.7% in Q4 2024, marking a significant milestone in revenue diversification [37] Company Strategy and Development Direction - The company plans to focus on cost reduction, efficiency improvement, and narrowing losses in 2025, emphasizing revenue resilience and monetization opportunities within its niche game ecosystem [22][23] - The strategy includes optimizing the cost structure, particularly content costs, and enhancing AI capabilities to drive efficiency [28][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the dual challenges of a soft macroeconomic landscape and intensified market competition, emphasizing the need for flexible operational strategies [7] - The company expects revenue from innovative business to remain on a healthy growth trajectory, contributing approximately 35% of total revenue in 2025 [55] Other Important Information - The company declared two special cash dividends totaling USD 600 million, reflecting its commitment to rewarding shareholders [10] - Cash and cash equivalents as of December 31, 2024, were RMB 4.47 billion, down from RMB 6.86 billion due to dividend distributions [44] Q&A Session Summary Question: What are the growth drivers for the new business entering 2025? - Management highlighted the voice-based social networking business and game membership program as key drivers, expecting to allocate more resources to these areas for revenue growth [50][55] Question: What is the plan for future cash usage? - The company maintains sufficient cash reserves to manage business fluctuations and support development initiatives, aiming to reduce net losses [56] Question: How should the long-term development strategy be interpreted? - The strategy involves reallocating resources from inefficient initiatives to high-value segments, focusing on improving margins and operational profitability [60][63] Question: What is the user and financial impact of tournament procurement and streamer strategic adjustments? - Management indicated a flexible approach to acquiring copyright content, prioritizing cost-effective tournaments and optimizing streamer resources to improve efficiency [68][74]

Core Insights - DouYu International Holdings Limited reported its unaudited financial results for Q4 and the full year of 2024, highlighting a stable business position despite macroeconomic challenges [1][3]. Financial Performance - Total net revenues for Q4 2024 decreased by 12.3% to RMB1,136.0 million (US$155.6 million) compared to RMB1,296.0 million in Q4 2023 [4][15]. - Livestreaming revenues in Q4 2024 fell by 28.4% to RMB730.9 million (US$100.1 million) from RMB1,020.8 million in the same period of 2023, attributed to a decline in both paying users and average revenue per paying user [5][15]. - Innovative business, advertising, and other revenues increased by 47.2% to RMB405.1 million (US$55.5 million) in Q4 2024, driven by higher revenues from voice-based social networking and game membership services [6][15]. - For the full year 2024, total net revenues were RMB4,270.8 million (US$585.1 million), down from RMB5,530.4 million in 2023 [18][15]. Profitability Metrics - Gross profit for Q4 2024 was RMB69.8 million (US$9.6 million), down from RMB126.2 million in Q4 2023, with a gross margin of 6.1% compared to 9.7% in the same period of 2023 [10][15]. - The net loss for Q4 2024 was RMB163.7 million (US$22.4 million), compared to a net loss of RMB62.2 million in Q4 2023 [14][15]. - For the full year 2024, the net loss was RMB297.4 million (US$40.8 million), a significant decline from a net income of RMB35.5 million in 2023 [20][15]. User Engagement - Average mobile monthly active users (MAUs) in Q4 2024 were 44.5 million, down from 51.7 million in Q4 2023 [15]. - The number of quarterly average paying users in Q4 2024 was 3.3 million, compared to 3.7 million in the same period of 2023 [15]. Strategic Initiatives - The company plans to focus on revenue diversification and cost-efficiency initiatives in 2025, including optimizing the cost structure of traditional businesses and leveraging AI for operational efficiency [3][3]. - DouYu declared a special cash dividend of US$300 million in January 2025, reinforcing its commitment to financial stability and shareholder returns [3][3]. Cash Position - As of December 31, 2024, the company had cash and cash equivalents of RMB4,467.8 million (US$612.1 million), down from RMB6,855.5 million as of December 31, 2023, primarily due to the special cash dividend distribution [22][15].