WUHAN,
China, Nov. 21, 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 third quarter
ended September 30, 2022.
Third Quarter 2022 Financial and Operational
Highlights
- Total net revenues in the third quarter of 2022 were
RMB1,798.3 million (US$252.8 million) compared with RMB2,348.0 million in the same period of
2021.
- Gross profit in the third quarter of 2022 was RMB251.2 million (US$35.3
million), compared with RMB278.5
million in the same period of 2021.
- Net loss in the third quarter of 2022 was RMB6.6 million (US$0.9
million), compared with RMB143.5 million in the same period of
2021.
- Adjusted net income (loss)[1] in the third quarter
of 2022 was RMB25.7 million
(US$3.6 million), compared with an
adjusted net loss of RMB72.7 million
in the same period of 2021.
- Average mobile MAUs[2] in the third quarter of 2022
decreased by 7.7% to 57.1 million from 61.9 million in the same
period of 2021.
- Quarterly average paying user[3] count in the third
quarter of 2022 was 5.6 million, compared with 7.2 million in the
same period of 2021.
Mr. Shaojie Chen, Chief Executive
Officer of DouYu, commented, "During the third quarter, we achieved
stable and holistic business development as we navigated through a
challenging macro environment. We stabilized our user base through
continuous innovation and investment in our content and service
offerings, while further improving revenue quality and augmenting
our cost control initiatives. This quarter, our mobile MAUs grew by
2.5% to 57.1 million compared to last quarter. We also
delivered a steady financial performance, realizing an adjusted net
profit of RMB25.7 million. Going
forward, we will further advance our game-centric ecosystem and
deepen our collaboration with game developers, leveraging games'
unique features and our abundant streamer resources to cultivate
and iterate game content and interactive features. Driven by the
vibrancy of our gaming communities, we endeavor to execute our
growth strategy to develop and enrich our comprehensive
game-centric content platform. We will maintain our leading
position in the traditional livestreaming industry while exploring
new initiatives to drive sustainable and healthy growth."
Mr. Hao Cao, Vice President of DouYu, commented, "Our total
revenue in the third quarter reached RMB1.8
billion, and our gross profit was RMB251.2 million, representing a gross margin of
14%. We also achieved an adjusted net income of RMB25.7 million. During this quarter, we
continued to invest in high-quality self-produced content, and
maintained a steady performance of our livestreaming business,
while exploring new game-related business models. At the same time,
we delivered an adjusted net profit for the second consecutive
quarter, a result of our ongoing efforts to implement cost controls
and optimize expenses. As of the end of the third quarter, we had
cash and cash equivalents, restricted cash, and short-term and
long-term bank deposits of RMB6,872.7
million. Our abundant cash reserves would allow us to retain
agility despite of the challenging macro environment, meaning that
we can continue to stabilize and improve the financial performance
of our core business. Looking ahead, we will proactively explore
diversified avenues for monetization and refine our operating model
in order to generate long-term shareholder
value."
Third Quarter 2022 Financial Results
Total net revenues in the third quarter of 2022
decreased by 23.4% to RMB1,798.3
million (US$252.8 million), compared with
RMB2,348.0 million in the same period
of 2021.
Livestreaming revenues in the third quarter of 2022
decreased by 22.9% to RMB1,705.0 million (US$239.7 million) from RMB2,210.5 million in the same period of 2021.
The decrease was primarily 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 third quarter of
2022 were RMB93.3 million
(US$13.1 million), compared with
RMB137.5 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 under the weak macro
economy. The decrease was partially offset by the increase in other
revenues contributed by game-specific membership
services.
Cost of revenues in the third quarter of 2022 was
RMB1,547.1 million (US$217.5 million), a decrease of 25.2%
compared with RMB2,069.5 million in
the same period of 2021.
Revenue sharing fees and content costs in the third
quarter of 2022 decreased to RMB1,319.6 million (US$185.5 million) from RMB1,839.9 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 well as a
significant decrease in copyright costs.
Bandwidth costs in the third quarter of 2022
decreased by 17.4% to RMB135.0
million (US$19.0 million) from
RMB163.4 million in the same period
of 2021. The decrease was mainly due to higher bandwidth efficiency
achieved from dynamic bandwidth allocation, as well as a
year-over-year reduction in peak bandwidth usage.
Gross profit in the third quarter of 2022 was
RMB251.2 million (US$35.3 million), compared with RMB278.5 million in the same period of 2021.
Gross margin in the third quarter of 2022 improved to 14.0% from
11.9% in the same period of 2021. The increase in gross margin was
primarily due to the decreases in both copyright costs and revenue
sharing fees as a percentage of total net revenues, which was
partially offset by the increase in other costs as a percentage of
total net revenues.
Sales and marketing expenses in the third quarter of
2022 decreased 25.9% to RMB162.1
million (US$22.8 million) from
RMB218.9 million in the same period
of 2021. The decrease was mainly attributable to the significant
decrease in marketing expenses for user acquisition and branding
expenses.
Research and development expenses in the third
quarter of 2022 decreased 31.5% to RMB84.4
million (US$11.9 million) from
RMB123.2 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 third
quarter of 2022 decreased 39.5% to RMB52.3
million (US$7.4 million) from
RMB86.5 million in the same period of
2021, mainly due to the decrease in share-based compensation
expenses and professional service fees.
Other operating income, net in the third
quarter of 2022 was RMB36.5
million (US$5.1 million),
compared with RMB25.8 million in the
same period of 2021.
Loss from operations in the third quarter of 2022
was RMB11.1 million (US$1.6 million), compared with RMB124.3 million in the same period of 2021.
Adjusted operating loss in the third quarter of 2022,
which adds back share-based compensation expenses, was RMB8.4 million (US$1.2
million), compared with adjusted operating loss of
RMB91.0 million in the same
period of 2021.
Net loss in the third quarter of 2022 was RMB6.6 million (US$0.9
million), compared with RMB143.5 million in the same period of
2021.
Adjusted net income(loss) in the third quarter of
2022, which excludes share-based compensation expenses, share of
loss in equity method investments, and impairment loss of
investments, was RMB25.7 million
(US$3.6 million), compared with
adjusted net loss of RMB72.7 million
in the same period of 2021.
Basic and diluted net loss per
ADS[4] in the third quarter of 2022 were
RMB0.01 (US$0.001) and RMB0.01 (US$0.001),
respectively. Adjusted basic and diluted net income per ADS
in the third quarter of 2022 were RMB0.09 (US$0.01)
and RMB0.09 (US$0.01), respectively.
Cash and cash equivalents, restricted cash and bank
deposits
As of September 30, 2022, the
Company had cash and cash equivalents, restricted cash, short-term
and long-term bank deposits of RMB6,872.7 million (US$966.2 million), compared with RMB6,643.5 million as of December 31, 2021.
Conference Call Information
The Company will hold a conference call on November 21, 2022, at 7:00 am Eastern Time
(or 8:00pm 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:
|
2596363
|
The replay will be accessible through November 28, 2022, by
dialing the following numbers:
International:
|
1-412-317-0088
|
United States Toll
Free:
|
1-877-344-7529
|
Conference
ID:
|
7404748
|
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 (loss)" 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 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 expand its user base and enhance
its user experience. 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 on
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 income (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 RMB7.1135 to US$1.00, the noon buying rate in effect on
September 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
September 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.
Investor Relations Contact
Lingling Kong
DouYu International Holdings Limited
Email: ir@douyu.tv
Phone: +1 (646) 224-6934
Robin Yang
ICR, LLC
Email: DouYu.IR@icrinc.com
Phone: +1 (646) 224-6934
Media Relations Contact
Lingling Kong
DouYu International Holdings Limited
Email: pr_douyu@douyu.tv
Phone: +1 (646) 308-1475
Edmond Lococo
ICR, LLC
Email: DouYu.PR@icrinc.com
Phone: +1 (646) 308-1475
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
|
As of September
30
|
|
2021
|
|
2022
|
|
2022
|
ASSETS
|
RMB
|
|
RMB
|
|
US$
(1)
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
4,456,406
|
|
4,356,693
|
|
612,454
|
Restricted
cash
|
10,703
|
|
6,057
|
|
851
|
Short-term bank
deposits
|
2,076,355
|
|
2,509,960
|
|
352,845
|
Accounts receivable,
net
|
191,389
|
|
129,058
|
|
18,143
|
Prepayments
|
80,717
|
|
47,657
|
|
6,700
|
Amounts due from
related parties
|
37,159
|
|
37,987
|
|
5,340
|
Other current
assets
|
376,367
|
|
345,486
|
|
48,568
|
Total current
assets
|
7,229,096
|
|
7,432,898
|
|
1,044,901
|
|
|
|
|
|
|
Property and
equipment, net
|
25,111
|
|
15,638
|
|
2,198
|
Intangible assets,
net
|
161,540
|
|
124,470
|
|
17,498
|
Long-term bank
deposits
|
100,000
|
|
-
|
|
-
|
Investments
|
491,425
|
|
485,317
|
|
68,225
|
Goodwill
|
12,637
|
|
14,072
|
|
1,978
|
Right-of-use assets,
net
|
72,309
|
|
49,512
|
|
6,960
|
Other non-current
assets
|
64,785
|
|
68,862
|
|
9,680
|
Total non-current
assets
|
927,807
|
|
757,871
|
|
106,539
|
TOTAL
ASSETS
|
8,156,903
|
|
8,190,769
|
|
1,151,440
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
824,128
|
|
675,158
|
|
94,912
|
Advances from
customers
|
7,476
|
|
8,181
|
|
1,150
|
Deferred
revenue
|
235,134
|
|
294,312
|
|
41,374
|
Accrued expenses and
other current liabilities
|
458,328
|
|
270,992
|
|
38,095
|
Amounts due to related
parties
|
293,508
|
|
265,548
|
|
37,330
|
Lease liabilities due
within one year
|
30,417
|
|
26,270
|
|
3,693
|
Total current
liabilities
|
1,848,991
|
|
1,540,461
|
|
216,554
|
|
|
|
|
|
|
Lease
liabilities
|
31,278
|
|
19,707
|
|
2,770
|
Deferred
revenue
|
18,045
|
|
10,047
|
|
1,412
|
Total non-current
liabilities
|
49,323
|
|
29,754
|
|
4,182
|
TOTAL
LIABILITIES
|
1,898,314
|
|
1,570,215
|
|
220,736
|
|
(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 RMB7.1135 to US$1.00, the noon buying rate in effect on
September 30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
|
As of September
30
|
|
2021
|
|
2022
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
Ordinary
shares
|
23
|
|
23
|
|
3
|
Treasury
shares
|
(802,250)
|
|
(911,217)
|
|
(128,097)
|
Additional paid-in
capital
|
10,618,538
|
|
10,670,287
|
|
1,500,005
|
Accumulated
deficit
|
(3,445,102)
|
|
(3,565,846)
|
|
(501,279)
|
Accumulated other
comprehensive (loss) income
|
(112,621)
|
|
423,827
|
|
59,583
|
Total DouYu
Shareholders' Equity
|
6,258,588
|
|
6,617,074
|
|
930,215
|
Noncontrolling
interests
|
1
|
|
3,480
|
|
489
|
Total Shareholders'
Equity
|
6,258,589
|
|
6,620,554
|
|
930,704
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
8,156,903
|
|
8,190,769
|
|
1,151,440
|
|
(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 RMB7.1135 to US$1.00, the noon buying rate in effect on
September 30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
Three Months
Ended
|
Nine Months
Ended
|
|
Sep
30,
2021
|
|
June
30,
2022
|
|
Sep
30,
2022
|
|
Sep
30,
2022
|
|
Sep
30,
2021
|
|
Sep
30,
2022
|
|
Sep
30,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Net
revenues
|
2,347,955
|
|
1,833,205
|
|
1,798,333
|
|
252,806
|
|
6,837,414
|
|
5,427,184
|
|
762,941
|
Cost of
revenues
|
(2,069,476)
|
|
(1,524,167)
|
|
(1,547,091)
|
|
(217,487)
|
|
(5,992,198)
|
|
(4,623,131)
|
|
(649,909)
|
Gross
profit
|
278,479
|
|
309,038
|
|
251,242
|
|
35,319
|
|
845,216
|
|
804,053
|
|
113,032
|
Operating (expenses)
income (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(218,859)
|
|
(167,463)
|
|
(162,137)
|
|
(22,793)
|
|
(723,688)
|
|
(515,959)
|
|
(72,532)
|
General and
administrative expenses
|
(86,521)
|
|
(90,659)
|
|
(52,308)
|
|
(7,353)
|
|
(277,219)
|
|
(233,066)
|
|
(32,764)
|
Research and
development expenses
|
(123,165)
|
|
(101,847)
|
|
(84,371)
|
|
(11,861)
|
|
(357,444)
|
|
(302,525)
|
|
(42,528)
|
Other operating
income, net
|
25,811
|
|
20,375
|
|
36,459
|
|
5,125
|
|
66,416
|
|
104,633
|
|
14,709
|
Total operating
expenses
|
(402,734)
|
|
(339,594)
|
|
(262,357)
|
|
(36,882)
|
|
(1,291,935)
|
|
(946,917)
|
|
(133,115)
|
Loss from
operations
|
(124,255)
|
|
(30,556)
|
|
(11,115)
|
|
(1,563)
|
|
(446,719)
|
|
(142,864)
|
|
(20,083)
|
Other expenses,
net
|
(32,921)
|
|
(28,884)
|
|
(32,577)
|
|
(4,580)
|
|
(32,615)
|
|
(62,609)
|
|
(8,801)
|
Interest income,
net
|
18,806
|
|
23,570
|
|
34,402
|
|
4,836
|
|
59,503
|
|
74,602
|
|
10,487
|
Loss before income
taxes and share of
Loss in equity method investments
|
(138,370)
|
|
(35,870)
|
|
(9,290)
|
|
(1,307)
|
|
(419,831)
|
|
(130,871)
|
|
(18,397)
|
Income tax
expense
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Share of (loss) income
in equity method investments
|
(5,161)
|
|
(2,887)
|
|
2,647
|
|
372
|
|
(7,191)
|
|
(1,386)
|
|
(195)
|
Net
loss
|
(143,531)
|
|
(38,757)
|
|
(6,643)
|
|
(935)
|
|
(427,022)
|
|
(132,257)
|
|
(18,592)
|
Less: Net loss
attributable to noncontrolling interest
|
(22,115)
|
|
(7,841)
|
|
(3,672)
|
|
(516)
|
|
(96,580)
|
|
(11,513)
|
|
(1,618)
|
Net loss
attributable to ordinary
shareholders of the Company
|
(121,416)
|
|
(30,916)
|
|
(2,971)
|
|
(419)
|
|
(330,442)
|
|
(120,744)
|
|
(16,974)
|
Net loss per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(3.71)
|
|
(0.97)
|
|
(0.09)
|
|
(0.01)
|
|
(10.16)
|
|
(3.78)
|
|
(0.53)
|
Diluted
|
(3.71)
|
|
(0.97)
|
|
(0.09)
|
|
(0.01)
|
|
(10.16)
|
|
(3.78)
|
|
(0.53)
|
Net loss per
ADS(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.37)
|
|
(0.10)
|
|
(0.01)
|
|
-
|
|
(1.02)
|
|
(0.38)
|
|
(0.05)
|
Diluted
|
(0.37)
|
|
(0.10)
|
|
(0.01)
|
|
-
|
|
(1.02)
|
|
(0.38)
|
|
(0.05)
|
Weighted average
number of ordinary shares used in calculating net loss per ordinary
share
|
Basic
|
32,692,871
|
|
31,827,240
|
|
31,966,417
|
|
31,966,417
|
|
32,520,952
|
|
31,953,780
|
|
31,953,780
|
Diluted
|
32,692,871
|
|
31,827,240
|
|
31,966,417
|
|
31,966,417
|
|
32,520,952
|
|
31,953,780
|
|
31,953,780
|
Weighted average
number of ADS used in calculating net loss per
ADS(3)
|
Basic
|
326,928,712
|
|
318,272,401
|
|
319,664,172
|
|
319,664,172
|
|
325,209,521
|
|
319,537,795
|
|
319,537,795
|
Diluted
|
326,928,712
|
|
318,272,401
|
|
319,664,172
|
|
319,664,172
|
|
325,209,521
|
|
319,537,795
|
|
319,537,795
|
|
(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 RMB7.1135 to US$1.00, the noon buying rate in effect on
September30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
(2) Share-based compensation expenses
were allocated in cost of revenues and operating expenses as
follows:
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
30,
2021
|
|
June
30,
2022
|
|
Sep
30,
2022
|
|
Sep
30,
2022
|
|
Sep
30,
2021
|
|
Sep
30,
2022
|
|
Sep
30,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Research and
development expenses
|
5,449
|
|
5,437
|
|
605
|
|
85
|
|
16,217
|
|
11,476
|
|
1,613
|
Sales and marketing
expenses
|
1,214
|
|
1,213
|
|
135
|
|
19
|
|
3,609
|
|
2,560
|
|
360
|
General and
administrative expenses
|
26,610
|
|
24,184
|
|
1,958
|
|
275
|
|
79,052
|
|
52,705
|
|
7,409
|
|
(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
|
|
Nine Months
Ended
|
|
Sep
30,
2021
|
|
June
30,
2022
|
|
Sep
30,
2022
|
|
|
Sep
30,
2022
|
|
Sep
30,
2021
|
|
Sep
30,
2022
|
|
Sep
30,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Loss from
operations
|
(124,255)
|
|
(30,556)
|
|
(11,115)
|
|
|
(1,563)
|
|
(446,719)
|
|
(142,864)
|
|
(20,083)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
33,273
|
|
30,834
|
|
2,698
|
|
|
379
|
|
98,878
|
|
66,741
|
|
9,382
|
Adjusted Operating
(loss) income
|
(90,982)
|
|
278
|
|
(8,417)
|
|
|
(1,184)
|
|
(347,841)
|
|
(76,123)
|
|
(10,701)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
(143,531)
|
|
(38,757)
|
|
(6,643)
|
|
|
(935)
|
|
(427,022)
|
|
(132,257)
|
|
(18,592)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
33,273
|
|
30,834
|
|
2,698
|
|
|
379
|
|
98,878
|
|
66,741
|
|
9,382
|
Share of loss (income)
in equity method investments
|
5,161
|
|
2,887
|
|
(2,647)
|
|
|
(372)
|
|
7,191
|
|
1,386
|
|
195
|
Impairment loss of
investments
|
32,357
|
|
28,571
|
|
32,298
|
|
|
4,540
|
|
32,357
|
|
32,298
|
|
4,540
|
Adjusted net (loss)
income
|
(72,740)
|
|
23,535
|
|
25,706
|
|
|
3,612
|
|
(288,596)
|
|
(31,832)
|
|
(4,475)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to DouYu
|
(121,416)
|
|
(30,916)
|
|
(2,971)
|
|
|
(419)
|
|
(330,442)
|
|
(120,744)
|
|
(16,974)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
33,273
|
|
30,834
|
|
2,698
|
|
|
379
|
|
98,878
|
|
66,741
|
|
9,382
|
Share of loss (income)
in equity method investments
|
5,161
|
|
2,887
|
|
(2,647)
|
|
|
(372)
|
|
7,191
|
|
1,386
|
|
195
|
Impairment loss of
investments
|
32,357
|
|
28,571
|
|
32,298
|
|
|
4,540
|
|
32,357
|
|
32,298
|
|
4,540
|
Adjusted net (loss)
income attributable to DouYu
|
(50,625)
|
|
31,376
|
|
29,378
|
|
|
4,128
|
|
(192,016)
|
|
(20,319)
|
|
(2,857)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net (loss)
income per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(1.55)
|
|
0.99
|
|
0.92
|
|
|
0.13
|
|
(5.90)
|
|
(0.64)
|
|
(0.09)
|
Diluted
|
(1.55)
|
|
0.99
|
|
0.92
|
|
|
0.13
|
|
(5.90)
|
|
(0.64)
|
|
(0.09)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net (loss)
income per ADS(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.15)
|
|
0.10
|
|
0.09
|
|
|
0.01
|
|
(0.59)
|
|
(0.06)
|
|
(0.01)
|
Diluted
|
(0.15)
|
|
0.10
|
|
0.09
|
|
|
0.01
|
|
(0.59)
|
|
(0.06)
|
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares used in calculating Adjusted net (loss) income
per ordinary share
|
Basic
|
32,692,871
|
|
31,827,240
|
|
31,966,417
|
|
|
31,966,417
|
|
32,520,952
|
|
31,953,780
|
|
31,953,780
|
Diluted
|
32,692,871
|
|
31,827,240
|
|
31,966,417
|
|
|
31,966,417
|
|
32,520,952
|
|
31,953,780
|
|
31,953,780
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ADS used in calculating net (loss) income per
ADS(2)
|
Basic
|
326,928,712
|
|
318,272,401
|
|
319,664,172
|
|
|
319,664,172
|
|
325,209,521
|
|
319,537,795
|
|
319,537,795
|
Diluted
|
326,928,712
|
|
318,272,401
|
|
319,664,172
|
|
|
319,664,172
|
|
325,209,521
|
|
319,537,795
|
|
319,537,795
|
|
(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 RMB7.1135 to US$1.00, the noon buying rate in effect on
September 30, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
(2) Every
ten ADSs represent one ordinary share.
|
View original
content:https://www.prnewswire.com/news-releases/douyu-international-holdings-limited-reports-third-quarter-2022-unaudited-financial-results-301683610.html
SOURCE DouYu International Holdings Limited