----------------- --------- ---------
Total current assets 7,077,184 6,685,428 941,622
Property and equipment, net 16,988 13,808 1,945
Intangible assets, net 106,723 120,694 16,999
Long-term bank deposits 250,000 630,000 88,734
Investments 531,911 436,197 61,437
Goodwill 13,804 - -
Right-of-use assets, net 49,911 22,792 3,210
Other non-current assets 98,845 163,184 22,984
----------------- --------- ---------
Total non-current assets 1,068,182 1,386,675 195,309
----------------- --------- ---------
TOTAL ASSETS 8,145,366 8,072,103 1,136,931
================= ========= =========
LIABILITIES AND SHAREHOLDERS'
EQUITY
LIABILITIES
Current liabilities:
Accounts payable 666,985 534,428 75,273
Advances from customers 6,459 12,911 1,818
Deferred revenue 288,152 315,969 44,503
Accrued expenses and other
current liabilities 302,801 246,601 34,733
Amounts due to related parties 266,788 251,392 35,408
Lease liabilities due within
one year 27,479 14,768 2,080
----------------- --------- ---------
Total current liabilities 1,558,664 1,376,069 193,815
Lease liabilities 19,572 6,701 944
Deferred revenue 6,570 - -
----------------- --------- ---------
Total non-current liabilities 26,142 6,701 944
----------------- --------- ---------
TOTAL LIABILITIES 1,584,806 1,382,770 194,759
================= ========= =========
(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 RMB7,0999 to
US$1.00, the noon buying rate in effect on December 29, 2023, in the H.10
statistical release of the Federal Reserve Board.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except share, ADS, per share and per ADS data)
As of December 31 As of December 31
----------------- ----------------------
2022 2023 2023
----------------- ----------- ---------
RMB RMB US$ (1)
SHAREHOLDERS' EQUITY
Ordinary shares 23 23 3
Treasury shares (911,217) (911,217) (128,342)
Additional paid-in capital 10,670,287 10,670,287 1,502,878
Accumulated deficit (3,520,525) (3,485,007) (490,853)
Accumulated other
comprehensive income 321,991 415,247 58,486
----------------- ----------- ---------
Total DouYu Shareholders'
Equity 6,560,559 6,689,333 942,172
Noncontrolling interests 1 - -
----------------- ----------- ---------
Total Shareholders' Equity 6,560,560 6,689,333 942,172
----------------- ----------- ---------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY 8,145,366 8,072,103 1,136,931
================= =========== =========
(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 RMB7.0999 to
US$1.00, the noon buying rate in effect on December 29, 2023, in the H.10
statistical release of the Federal Reserve Board.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(All amounts in thousands, except share, ADS, per share and per ADS data)
Three Months Ended Year Ended
-------------------------------------------------- -------------------------------------
Dec 31, Sep 30, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31,
2022 2023 2023 2023 2022 2023 2023
----------- ----------- ----------- ----------- ----------- ----------- -----------
RMB RMB RMB US$ (1) RMB RMB US$ (1)
Net revenues 1,681,054 1,359,189 1,295,962 182,532 7,108,238 5,530,405 778,941
Cost of revenues (1,494,998) (1,166,771) (1,169,712) (164,750) (6,118,128) (4,846,371) (682,597)
----------- ----------- ----------- ----------- ----------- ----------- -----------
Gross profit 186,056 192,418 126,250 17,782 990,110 684,034 96,344
Operating
(expenses)
income(2)
Sales and
marketing
expenses (123,912) (89,996) (83,998) (11,831) (639,871) (351,727) (49,540)
General and
administrative
expenses (55,175) (50,994) (80,031) (11,272) (288,242) (237,756) (33,487)
Research and
development
expenses (80,566) (74,510) (59,072) (8,320) (383,091) (276,936) (39,006)
Other operating
income, net 17,580 14,272 (9,618) (1,355) 122,214 32,315 4,551
Impairment of
goodwill - - (13,967) (1,967) - (13,967) (1,967)
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total operating
expenses (242,073) (201,228) (246,686) (34,745) (1,188,990) (848,071) (119,449)
----------- ----------- ----------- ----------- ----------- ----------- -----------
Loss from
operations (56,017) (8,810) (120,436) (16,963) (198,880) (164,037) (23,105)
Other expenses,
net (17,692) 1,401 (21,844) (3,077) (80,301) (52,874) (7,447)
Interest
income, net 55,256 80,747 82,556 11,628 129,858 284,982 40,139
Foreign
exchange
(loss) income - 4 (122) (17) - 126 18
----------- ----------- ----------- ----------- ----------- ----------- -----------
(Loss) income
before income
taxes and share
of (loss)
income in
equity method
investments (18,453) 73,342 (59,846) (8,429) (149,323) 68,197 9,605
Income tax
expense (3,487) - (1,069) (151) (3,487) (1,069) (151)
Share of (loss)
income in
equity method
investments 63,781 3,035 (1,310) (185) 62,395 (31,610) (4,452)
----------- ----------- ----------- ----------- ----------- ----------- -----------
Net (loss)
income 41,841 76,377 (62,225) (8,765) (90,415) 35,518 5,002
Less: Net
income(loss)
attributable
to
noncontrolling
interest (3,479) - - - (14,992) - -
----------- ----------- ----------- ----------- ----------- ----------- -----------
Net (loss)income
attributable to
ordinary
shareholders
of the Company 45,320 76,377 (62,225) (8,765) (75,423) 35,518 5,002
=========== =========== =========== =========== =========== =========== ===========
Net (loss)
income per
ordinary share
Basic 1.42 2.39 (1.95) (0.27) (2.36) 1.11 0.16
Diluted 1.42 2.39 (1.95) (0.27) (2.36) 1.11 0.16
Net (loss)
income per
ADS(3)
Basic 0.14 0.24 (0.19) (0.03) (0.24) 0.11 0.02
Diluted 0.14 0.24 (0.19) (0.03) (0.24) 0.11 0.02
Weighted average number of ordinary shares used in calculating net (loss) income per ordinary share
Basic 32,023,641 31,977,665 31,977,665 31,977,665 31,971,245 31,977,665 31,977,665
Diluted 32,023,641 31,977,665 31,977,665 31,977,665 31,971,245 31,977,665 31,977,665
Weighted average number of ADS used in calculating net (loss) income per ADS(3)
Basic 320,236,412 319,776,650 319,776,650 319,776,650 319,712,449 319,776,650 319,776,650
Diluted 320,236,412 319,776,650 319,776,650 319,776,650 319,712,449 319,776,650 319,776,650
(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
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