DouYu International Holdings Limited Reports Second Quarter 2023 Unaudited Financial Results

WUHAN, China, Aug. 14, 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 its unaudited financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Financial and Operational Highlights

  • Total net revenues in the second quarter of 2023 were RMB1,392.2 million (US$192.0 million), compared with RMB1,833.2 million in the same period of 2022.
  • Gross profit in the second quarter of 2023 was RMB188.9 million (US$26.1 million), compared with RMB309.0 million in the same period of 2022.
  • Net income in the second quarter of 2023 was RMB6.8 million (US$0.9 million), compared with net loss of RMB38.8 million in the same period of 2022.
  • Adjusted net income[1] in the second quarter of 2023 was RMB61.4 million (US$8.5 million), compared with RMB23.5 million in the same period of 2022.
  • Average mobile MAUs[2] in the second quarter of 2023 were 50.3 million, compared with 55.7 million in the same period of 2022.
  • The number of quarterly average paying users[3] in the second quarter of 2023 was 4.0 million, compared with 6.6 million in the same period of 2022.

Mr. Shaojie Chen, Chief Executive Officer of DouYu, commented, "In the second quarter of 2023, we continued to foster the sustainable health of our game-centric community ecosystem. We focused on successfully maintaining our core users, launching more high-quality, highly interactive content to boost interactions in our community and further elevated the user experience. Meanwhile, we worked more closely with game developers on mutually beneficial initiatives and reduced our marketing expenses in areas such as user acquisition and branding, which in turn improved our profitability. Driven by our regularly updated premium gaming content, diverse operational activities and revenue-generating product offerings, mobile MAUs in the second quarter were steady with the prior quarter at 50.3 million. Looking ahead, we remain committed to executing our core growth strategy of fostering a vibrant, game-centric content ecosystem. We will continue to produce high-quality content, launch innovative offerings and further explore new growth avenues. Our solid business development will enhance our competitive edge and leading position in the domestic gaming content industry."

Mr. Hao Cao, Vice President of DouYu, commented, "In the second quarter of 2023, our financial performance remained steady. We continued to execute on our long-term sustainable growth strategy with an emphasis on ROI. The key adjustments we have made to our livestreaming revenue-generating activities are designed to invigorate the platform community. Together, with our product upgrades and innovations, we stabilized our total net revenue of RMB1.39 billion and diversified our revenue mix. We continued to optimize our costs and operating expenses in the second quarter by effectively managing our content cost, notably by reducing our marketing expenses for promotional activities and improving our operating efficiency. As a result, we generated net income of RMB6.8 million in the quarter compared with the net loss of RMB38.8 million in the same period last year. Our adjusted net income increased 160.8% year-over-year, reaching RMB61.4 million. Going forward, we plan to explore new monetization channels that support the stable operations and growth of our core business in a manner that creates long-term value for all of our stakeholders."

Second Quarter 2023 Financial Results

Total net revenues in the second quarter of 2023 decreased by 24.1% to RMB1,392.2 million (US$192.0 million), compared with RMB1,833.2 million in the same period of 2022.

Livestreaming revenues in the second quarter of 2023 decreased by 28.8% to RMB1,258.3 million (US$173.5 million) from RMB1,768.3 million in the same period of 2022. The decrease was mainly attributable to the ongoing operational adjustments in the livestreaming business to promote a healthy and sustainable ecosystem in a more cost-effective manner, as well as the challenging macro environment.

Advertising and other revenues in the second quarter of 2023 increased by 106.5% to RMB133.9 million (US$18.5 million) from RMB64.9 million in the same period of 2022. The increase was primarily attributable to the increase in other revenues contributed by game-specific membership services.

Cost of revenues in the second quarter of 2023 was RMB1,203.3 million (US$165.9 million), a decrease of 21.1% compared with RMB1,524.2 million in the same period of 2022.

Revenue sharing fees and content costs in the second quarter of 2023 decreased by 25.4% to RMB981.3 million (US$135.3 million) from RMB1,314.7 million in the same period of 2022. The decline was primarily driven by a decrease in revenue sharing fees, which were largely aligned with the decrease in livestreaming revenues.  The decrease was partially offset by an increase in copyright costs as a result of our purchase of the LPL tournament copyright.

Bandwidth costs in the second quarter of 2023 decreased by 17.3% to RMB118.8 million (US$16.4 million) from RMB143.7 million in the same period of 2022. The decrease was mainly due to the enhanced efficiency of peak bandwidth usage caused by growing tournament viewing demand, mainly through dynamic bandwidth allocation.

Gross profit in the second quarter of 2023 was RMB188.9 million (US$26.1 million), compared with RMB309.0 million in the same period of 2022. Gross margin in the second quarter of 2023 was 13.6%, compared with 16.9% in the same period of 2022. The decrease in gross margin was mainly attributable to the increase in other costs as a percentage of revenues, which was partially offset by the decreasing percentage of revenues attributed to revenue sharing fees.

Sales and marketing expenses in the second quarter of 2023 decreased by 48.0% to RMB87.0 million (US$12.0 million) from RMB167.5 million in the same period of 2022. This was mainly attributable to a decrease in marketing expenses for user acquisition.

Research and development expenses in the second quarter of 2023 decreased by 30.2% to RMB71.0 million (US$9.8 million) from RMB101.9 million in the same period of 2022. This decrease was primarily due to a decrease in personnel-related expenses.

General and administrative expenses in the second quarter of 2023 decreased by 48.2% to RMB46.9 million (US$6.5 million) from RMB90.7 million in the same period of 2022. This decrease was primarily due to decreased share-based compensation expenses, as the shares under our share incentive plans were fully vested. 

Other operating income, net in the second quarter of 2023 was RMB8.6 million (US$1.2 million), compared with RMB20.4 million in the same period of 2022.

Loss from operations in the second quarter of 2023 was RMB7.5 million (US$1.0 million), compared with RMB30.6 million in the same period of 2022.

Net income in the second quarter of 2023 was RMB6.8 million (US$0.9 million), compared with net loss of RMB38.8 million in the same period of 2022.

Adjusted net income, which excludes share-based compensation expenses, the share of loss in equity method investments, and impairment loss of investments, was RMB61.4 million (US$8.5 million) in the second quarter of 2023, compared with RMB23.5 million in the same period of 2022.

Basic and diluted net income per ADS[4] in the second quarter of 2023 were both RMB0.02 (US$0.003). Adjusted basic and diluted net income per ADS in the second quarter of 2023 were both RMB0.19 (US$0.03).

Cash and cash equivalents, restricted cash and bank deposits

As of June 30, 2023, the Company had cash and cash equivalents, restricted cash, and short-term and long-term bank deposits of RMB7,055.5 million (US$973.0 million), compared with RMB6,808.8 million as of December 31, 2022.

Conference Call Information

The Company will hold a conference call on August 14, 2023, 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:

6137525

The replay will be accessible through August 21, 2023, by dialing the following numbers:

International:

+1-412-317-0088

United States Toll Free:

+1-877-344-7529

Conference ID:

5510804

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 defined as net income excluding share-based compensation expenses, and 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.

[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 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 operating income (loss) is calculated as operating income (loss) adjusted for share-based compensation expenses. Adjusted net income (loss) is calculated as net income (loss) adjusted for share-based compensation expenses, share of income (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-based compensation expenses, share of income (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-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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023, 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, 2023 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: [email protected]

Tel: +86 (10) 6508-0677

 

Andrea Guo

The Piacente Group, Inc.

Email: [email protected]

Tel: +86 (10) 6508-0677

 

In the United States:

Brandi Piacente

The Piacente Group, Inc.

Email: [email protected]

Tel: +1-212-481-2050

 

 

Media Relations Contact

Lingling Kong

DouYu International Holdings Limited

Email: [email protected]

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

 

2022

 

2023

 

2023

ASSETS

RMB

 

RMB

 

US$ (1)

Current assets:

         

Cash and cash equivalents

4,041,603

 

4,514,968

 

622,643

Restricted cash

6,057

 

35,374

 

4,878

Short-term bank deposits

2,511,150

 

1,945,160

 

268,250

Accounts receivable, net

109,180

 

90,189

 

12,437

Prepayments

26,064

 

32,627

 

4,499

Amounts due from related parties

46,126

 

31,951

 

4,406

Other current assets

337,004

 

432,942

 

59,705

Total current assets

7,077,184

 

7,083,211

 

976,818

           

Property and equipment, net

16,988

 

14,222

 

1,961

Intangible assets, net

106,723

 

81,548

 

11,246

Long-term bank deposits

250,000

 

560,000

 

77,228

Investments

531,911

 

471,445

 

65,015

Goodwill

13,804

 

14,322

 

1,975

Right-of-use assets, net

49,911

 

34,777

 

4,796

Other non-current assets, net

98,845

 

95,105

 

13,116

Total non-current assets

1,068,182

 

1,271,419

 

175,337

TOTAL ASSETS

8,145,366

 

8,354,630

 

1,152,155

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

         

LIABILITIES

         

Current liabilities:

         

Accounts payable

666,985

 

596,282

 

82,231

Advances from customers

6,459

 

19,520

 

2,692

Deferred revenue

288,152

 

320,279

 

44,168

Accrued expenses and other current liabilities

302,801

 

219,831

 

30,316

Amounts due to related parties

266,788

 

374,218

 

51,607

Lease liabilities due within one year

27,479

 

21,158

 

2,918

Total current liabilities

1,558,664

 

1,551,288

 

213,932

           

Lease liabilities

19,572

 

11,818

 

1,630

Deferred revenue

6,570

 

 

Total non-current liabilities

26,142

 

11,818

 

1,630

TOTAL LIABILITIES

1,584,806

 

1,563,106

 

215,562

           

(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023, 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

 

2022

 

2023

 

2023

 

RMB

 

RMB

 

US$ (1)

SHAREHOLDERS’ EQUITY

         

Ordinary shares

23

 

23

 

3

Treasury shares

(911,217)

 

(911,217)

 

(125,663)

Additional paid-in capital

10,670,287

 

10,670,287

 

1,471,500

Accumulated deficit

(3,520,525)

 

(3,499,160)

 

(482,556)

Accumulated other comprehensive income

321,991

 

531,591

 

73,309

Total DouYu Shareholders’ Equity

6,560,559

 

6,791,524

 

936,593

Noncontrolling interests

1

 

 

Total Shareholders’ Equity

6,560,560

 

6,791,524

 

936,593

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

8,145,366

 

8,354,630

 

1,152,155

           

(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023, 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,

2022

 

March 31,

2023

 

June 30,

2023

 

June 30,

2023

 

June 30,

2022

 

June 30,

2023

 

June 30,

2023

 

RMB

 

RMB

 

RMB

 

US$ (1)

 

RMB

 

RMB

 

US$ (1)

Net revenues

1,833,205

 

1,483,060

 

1,392,193

 

191,992

 

3,628,851

 

2,875,253

 

396,516

Cost of revenues

(1,524,167)

 

(1,306,594)

 

(1,203,294)

 

(165,942)

 

(3,076,039)

 

(2,509,888)

 

(346,129)

Gross profit

309,038

 

176,466

 

188,899

 

26,050

 

552,812

 

365,365

 

50,387

Operating (expenses) income (2)

                         

Sales and marketing expenses

(167,463)

 

(90,686)

 

(87,047)

 

(12,004)

 

(353,822)

 

(177,733)

 

(24,511)

General and administrative expenses

(90,659)

 

(59,793)

 

(46,938)

 

(6,473)

 

(180,758)

 

(106,731)

 

(14,719)

Research and development expenses

(101,847)

 

(72,311)

 

(71,043)

 

(9,797)

 

(218,155)

 

(143,354)

 

(19,769)

Other operating income, net

20,375

 

19,046

 

8,615

 

1,188

 

68,175

 

27,661

 

3,815

Total operating expenses

(339,594)

 

(203,744)

 

(196,413)

 

(27,086)

 

(684,560)

 

(400,157)

 

(55,184)

Loss from operations

(30,556)

 

(27,277)

 

(7,514)

 

(1,036)

 

(131,748)

 

(34,792)

 

(4,797)

Other expenses, net

(28,884)

 

(8,000)

 

(53,554)

 

(7,385)

 

(30,032)

 

(61,554)

 

(8,489)

Interest income, net

23,570

 

54,426

 

67,252

 

9,274

 

40,201

 

121,679

 

16,780

Foreign exchange loss

 

(1,396)

 

1,641

 

226

 

 

245

 

34

(Loss) Income before income taxes and share of

    Loss in equity method investments

 

(35,870)

 

17,753

 

7,825

 

1,079

 

(121,579)

 

25,578

 

3,528

Income tax expense

 

 

 

 

 

 

Share of loss in equity method investments

(2,887)

 

(3,236)

 

(977)

 

(135)

 

(4,033)

 

(4,213)

 

(581)

Net (loss) Income

(38,757)

 

14,517

 

6,848

 

944

 

(125,612)

 

21,365

 

2,947

Less: Net loss attributable to noncontrolling interest 

(7,841)

 

 

 

 

(7,841)

 

 

Net (loss) income attributable to ordinary 

    shareholders of the Company

(30,916)

 

14,517

 

6,848

 

944

 

(117,771)

 

21,365

 

2,947

Net (loss) income per ordinary share

                         

Basic

(0.97)

 

0.45

 

0.21

 

0.03

 

(3.69)

 

0.67

 

0.09

Diluted

(0.97)

 

0.45

 

0.21

 

0.03

 

(3.69)

 

0.67

 

0.09

Net (loss) income per ADS(3)

                         

Basic

(0.10)

 

0.05

 

0.02

 

 

(0.37)

 

0.07

 

0.01

Diluted

(0.10)

 

0.05

 

0.02

 

 

(0.37)

 

0.07

 

0.01

Weighted average number of ordinary shares used in calculating net (loss) income per ordinary share

Basic

31,827,240

 

32,023,551

 

31,977,664

 

31,977,664

 

31,947,461

 

32,000,608

 

32,000,608

Diluted

31,827,240

 

32,023,551

 

31,977,664

 

31,977,664

 

31,947,461

 

32,000,608

 

32,000,608

Weighted average number of ADS used in calculating net (loss) income per ADS(3)

Basic

318,272,401

 

320,235,512

 

319,776,640

 

319,776,640

 

319,474,607

 

320,006,075

 

320,006,075

Diluted

318,272,401

 

320,235,512

 

319,776,640

 

319,776,640

 

319,474,607

 

320,006,075

 

320,006,075

         

(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023, 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,

2022

 

March 31,

2023

 

June 30,

2023

 

June 30,

2023

 

June 30,

2022

 

June 30,

2023

 

June 30,

2023

 

RMB

 

RMB

 

RMB

 

US$ (1)

 

RMB

 

RMB

 

US$ (1)

Research and development expenses

5,437

 

 

 

 

10,872

 

 

Sales and marketing expenses

1,213

 

 

 

 

2,425

 

 

General and administrative expenses

24,184

 

 

 

 

50,747

 

 

                           

(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,

2022

 

March 31,

2023

 

June 30,

2023

 

June 30,

2023

 

June 30,

2022

 

June 30,

2023

 

June 30,

2023

 

RMB

 

RMB

 

RMB

 

US$ (1)

 

RMB

 

RMB

 

US$ (1)

Loss from operations

(30,556)

 

(27,277)

 

(7,514)

 

(1,036)

 

(131,748)

 

(34,792)

 

(4,797)

Add:

                         

Share-based compensation expenses

30,834

 

 

 

 

64,044

 

 

Adjusted Operating (loss) income

278

 

(27,277)

 

(7,514)

 

(1,036)

 

(67,704)

 

(34,792)

 

(4,797)

                           

Net (loss) income

(38,757)

 

14,517

 

6,848

 

944

 

(125,612)

 

21,365

 

2,947

Add:

                         

Share-based compensation expenses

30,834

 

 

 

 

64,044

 

 

Share of loss in equity method investments

2,887

 

3,236

 

977

 

135

 

4,033

 

4,213

 

581

Impairment loss of investments

28,571

 

8,000

 

53,554

 

7,385

 

28,571

 

61,554

 

8,489

Adjusted net (loss) income

23,535

 

25,753

 

61,379

 

8,464

 

(28,964)

 

87,132

 

12,017

                           

Net (loss) income attributable to DouYu

(30,916)

 

14,517

 

6,848

 

944

 

(117,771)

 

21,365

 

2,947

Add:

                         

Share-based compensation expenses

30,834

 

 

 

 

64,044

 

 

Share of loss in equity method investments

2,887

 

3,236

 

977

 

135

 

4,033

 

4,213

 

581

Impairment loss of investments

28,571

 

8,000

 

53,554

 

7,385

 

28,571

 

61,554

 

8,489

Adjusted net (loss) income attributable to DouYu

31,376

 

25,753

 

61,379

 

8,464

 

(21,123)

 

87,132

 

12,017

                           

Adjusted net (loss) income per ordinary share

                         

Basic

0.99

 

0.80

 

1.92

 

0.26

 

(0.66)

 

2.72

 

0.38

Diluted

0.99

 

0.80

 

1.92

 

0.26

 

(0.66)

 

2.72

 

0.38

                           

Adjusted net (loss) income per ADS(2)

 

                         

Basic

0.10

 

0.08

 

0.19

 

0.03

 

(0.07)

 

0.27

 

0.04

Diluted

0.10

 

0.08

 

0.19

 

0.03

 

(0.07)

 

0.27

 

0.04

                           

Weighted average number of ordinary shares used in calculating Adjusted net (loss) income per ordinary share

Basic

31,827,240

 

32,023,551

 

31,977,664

 

31,977,664

 

31,947,461

 

32,000,608

 

32,000,608

Diluted

31,827,240

 

32,023,551

 

31,977,664

 

31,977,664

 

31,947,461

 

32,000,608

 

32,000,608

                           

Weighted average number of ADS used in calculating net (loss) income per ADS(2)

Basic

318,272,401

 

320,235,512

 

319,776,640

 

319,776,640

 

319,474,607

 

320,006,075

 

320,006,075

Diluted

318,272,401

 

320,235,512

 

319,776,640

 

319,776,640

 

319,474,607

 

320,006,075

 

320,006,075

                               

(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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023, in the H.10 statistical release of the
Federal Reserve Board.

(2) Every ten ADSs represent one ordinary share.

 

 

 

CisionView original content:https://www.prnewswire.com/news-releases/douyu-international-holdings-limited-reports-second-quarter-2023-unaudited-financial-results-301899584.html

SOURCE DouYu International Holdings Limited

Featured image: deposit photo © pedro2009

Disclaimer