Close

Form 6-K DouYu International Hold For: Aug 15

August 15, 2022 6:30 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

 

 

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 August 2022

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 Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 


EXHIBIT INDEX

 

Exhibit No.   

Description

99.1    Press Release


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  DOUYU INTERNATIONAL HOLDINGS LIMITED
Date:   August 15, 2022   By:   /s/ Shaojie Chen
      Name:   Shaojie Chen
      Title:   Chief Executive Officer, Director

Exhibit 99.1

 

LOGO

 

 

DouYu International Holdings Limited Reports Second Quarter 2022 Unaudited Financial Results

WUHAN, China, August 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 income1 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 MAUs2 in the second quarter of 2022 were 55.7 million, compared with 60.7 million in the same period of 2021.

 

   

Quarterly average paying user3 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 income1 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.”

 

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.

 

1


LOGO

 

 

 

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 income1 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.

 

2


LOGO

 

 

 

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 ADS4 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.

 

4 

Every ten ADSs represent one ordinary share.

 

3


LOGO

 

 

 

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/.

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/.

 

4


LOGO

 

 

 

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.

 

5


LOGO

 

 

 

Investor Relations Contact

Lingling Kong

DouYu International Holdings Limited

Email: [email protected]

Phone: +1 (646) 224-6934

Robin Yang

ICR, LLC

Email: [email protected]

Phone: +1 (646) 224-6934

Media Relations Contact

Lingling Kong

DouYu International Holdings Limited

Email: [email protected]

Phone: +1 (646) 308-1475

Edmond Lococo

ICR, LLC

Email: [email protected]

Phone: +1 (646) 308-1475

 

6


LOGO

 

 

 

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  
     RMB      RMB      US$ (1)  

ASSETS

        

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.

 

7


LOGO

 

 

 

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.

 

8


LOGO

 

 

 

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     (0.27     (0.10     (0.01     (0.64     (0.37     (0.06

Diluted

     (0.45     (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.

 

9


LOGO

 

 

 

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.

 

10



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings