SHAREHOLDERS' EQUITY
Ordinary shares 23 23 3
Treasury shares (911,217) (991,370) (136,417)
Additional paid-in capital 10,670,287 10,670,287 1,468,280
Accumulated deficit (3,485,007) (3,622,129) (498,422)
Accumulated other
comprehensive income 415,247 452,045 62,203
----------------- ----------- ---------
Total DouYu Shareholders'
Equity 6,689,333 6,508,856 895,647
Total Shareholders' Equity 6,689,333 6,508,856 895,647
----------------- ----------- ---------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY 8,072,103 7,833,887 1,077,977
================= =========== =========
(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 RMB7.2672
to US$1.00, the noon buying rate in effect on June 28, 2024, in the H.10
statistical release of the Federal Reserve Board.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(All amounts in thousands, except share, ADS, per share and per ADS data)
Three Months Ended Six Months Ended
----------------------------------------------- ------------------------------------
June 30, March 31, June 30, June 30, June 30, June 30, June 30,
2023 2024 2024 2024 2023 2024 2024
----------- ---------- ---------- ---------- ----------- ----------- ----------
RMB RMB RMB US$ (1) RMB RMB US$ (1)
Net revenues 1,392,193 1,039,684 1,032,041 142,014 2,875,253 2,071,725 285,079
Cost of revenues (1,203,294) (930,678) (947,823) (130,425) (2,509,888) (1,878,501) (258,490)
----------- ---------- ---------- ---------- ----------- ----------- ----------
Gross profit 188,899 109,006 84,218 11,589 365,365 193,224 26,589
Operating income
(expense)
Sales and
marketing
expenses (87,047) (75,570) (76,963) (10,590) (177,733) (152,533) (20,989)
General and
administrative
expenses (46,938) (42,797) (48,496) (6,673) (106,731) (91,293) (12,562)
Research and
development
expenses (71,043) (54,150) (50,135) (6,899) (143,354) (104,285) (14,350)
Other operating
income
(expense), net 8,615 (103,428) (28,189) (3,879) 27,661 (131,617) (18,111)
----------- ---------- ---------- ---------- ----------- ----------- ----------
Total operating
expenses (196,413) (275,945) (203,783) (28,041) (400,157) (479,728) (66,012)
----------- ---------- ---------- ---------- ----------- ----------- ----------
Loss from
operations (7,514) (166,939) (119,565) (16,452) (34,792) (286,504) (39,423)
Other expenses,
net (24,431) - (943) (130) (32,431) (943) (130)
Interest income 67,252 81,094 75,972 10,454 121,679 157,066 21,613
Foreign exchange
gain, net 1,641 153 604 83 245 757 104
----------- ---------- ---------- ---------- ----------- ----------- ----------
Income (loss)
before income
taxes and share
of loss in
equity method
investments 36,948 (85,692) (43,932) (6,045) 54,701 (129,624) (17,836)
----------- ---------- ---------- ---------- ----------- ----------- ----------
Income tax
expense - - (2,510) (345) - (2,510) (345)
Share of loss in
equity method
investments (30,100) (2,261) (2,727) (375) (33,336) (4,988) (686)
----------- ---------- ---------- ---------- ----------- ----------- ----------
Net income (loss) 6,848 (87,953) (49,169) (6,765) 21,365 (137,122) (18,867)
----------- ---------- ---------- ---------- ----------- ----------- ----------
Net income (loss)
attributable to
ordinary
shareholders of
the Company 6,848 (87,953) (49,169) (6,765) 21,365 (137,122) (18,867)
=========== ========== ========== ========== =========== =========== ==========
Net income (loss)
per ordinary
share
Basic 0.21 (2.77) (1.58) (0.22) 0.67 (4.36) (0.60)
Diluted 0.21 (2.77) (1.58) (0.22) 0.67 (4.36) (0.60)
Net
income (loss) per
ADS((2)
Basic 0.21 (2.77) (1.58) (0.22) 0.67 (4.36) (0.60)
Diluted 0.21 (2.77) (1.58) (0.22) 0.67 (4.36) (0.60)
Weighted average number of ordinary shares used in calculating net income (loss) per ordinary share
Basic 31,977,665 31,807,180 31,128,544 31,128,544 32,000,608 31,467,862 31,467,862
Diluted 31,977,665 31,807,180 31,128,544 31,128,544 32,000,608 31,467,862 31,467,862
Weighted average number of ADS used in calculating net income (loss) per ADS(2)
Basic 31,977,665 31,807,180 31,128,544 31,128,544 32,000,608 31,467,862 31,467,862
Diluted 31,977,665 31,807,180 31,128,544 31,128,544 32,000,608 31,467,862 31,467,862
(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 RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the H.10 statistical
release of the Federal Reserve Board. (2) Every one ADS represents one ordinary share.
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except share, ADS, per share and per ADS data)
Three Months Ended Six Months Ended
---------------------------------------------- ----------------------------------
June 30, March 31, June 30, June 30, June 30, June 30, June 30,
2023 2024 2024 2024 2023 2024 2024
---------- ---------- ---------- ---------- ---------- ---------- ----------
RMB RMB RMB US$ (1) RMB RMB US$ (1)
Loss from
operations (7,514) (166,939) (119,565) (16,452) (34,792) (286,504) (39,423)
---------- ---------- ---------- ---------- ---------- ---------- ----------
Adjusted
operating
loss (7,514) (166,939) (119,565) (16,452) (34,792) (286,504) (39,423)
========== ========== ========== ========== ========== ========== ==========
Net income
(loss) 6,848 (87,953) (49,169) (6,765) 21,365 (137,122) (18,867)
Add:
Share of loss
in equity
method
investments 30,100 2,261 2,727 375 33,336 4,988 686
Impairment loss
of
investments(2) 24,431 - 943 130 32,431 943 130
---------- ---------- ---------- ---------- ---------- ---------- ----------
Adjusted net
income (loss) 61,379 (85,692) (45,499) (6,260) 87,132 (131,191) (18,051)
========== ========== ========== ========== ========== ========== ==========
Net income
(loss)
attributable
to DouYu 6,848 (87,953) (49,169) (6,765) 21,365 (137,122) (18,867)
Add:
Share of loss
in equity
method
investments 30,100 2,261 2,727 375 33,336 4,988 686
Impairment loss
of
investments 24,431 - 943 130 32,431 943 130
---------- ---------- ---------- ---------- ---------- ---------- ----------
Adjusted net
income (loss)
attributable
to DouYu 61,379 (85,692) (45,499) (6,260) 87,132 (131,191) (18,051)
========== ========== ========== ========== ========== ========== ==========
Adjusted net
income (loss)
per ordinary
share
Basic 1.92 (2.69) (1.46) (0.20) 2.72 (4.17) (0.57)
Diluted 1.92 (2.69) (1.46) (0.20) 2.72 (4.17) (0.57)
Adjusted net
income (loss)
per ADS((3) ()
Basic 1.92 (2.69) (1.46) (0.20) 2.72 (4.17) (0.57)
Diluted 1.92 (2.69) (1.46) (0.20) 2.72 (4.17) (0.57)
Weighted average number of ordinary shares used in calculating Adjusted net income (loss) per
ordinary share
Basic 31,977,665 31,807,180 31,128,544 31,128,544 32,000,608 31,467,862 31,467,862
Diluted 31,977,665 31,807,180 31,128,544 31,128,544 32,000,608 31,467,862 31,467,862
(MORE TO FOLLOW) Dow Jones Newswires
September 12, 2024 04:00 ET (08:00 GMT)
