This is a press release from 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, announcing its unaudited financial results for the third quarter that ended September 30, 2023.
Highlights of the third quarter of 2023 in terms of financial and operational performance
According to the interim management committee of DouYu, "we diligently executed and optimized our corporate growth strategy in the third quarter of 2023, making steady progress in our business, contributing to our overall goal of cultivating a healthy, sustainable game-centric community ecosystem.". Our robust marketing strategies continued to be employed during the quarter, as well as strengthening our partnerships with game developers in order to promote new games and enhance game operations during the launch of new games.. As a result of our premium content offerings and efficient operations, we continue to improve the experience of our users. We have been able to maintain a stable core user base and consistently attract new users to the service, which has resulted in mobile MAUs for the third quarter increasing slightly quarter-over-quarter to 51..There are seven million people in the world. There is no doubt that our commitment to achieving long-term, sustainable growth will remain at the forefront of our mission going forward. As part of our continued compliance efforts, we will enhance our content and service offerings through innovation and product upgrades to further enhance our vibrant game-centric content ecosystem as a result of our continued compliance efforts.. In addition to exploring new growth avenues, we will also continue to make efforts to ensure that our business and financial performance remains stable, which will further enhance DouYu's competitive edge and market leadership in the domestic gaming content market.
In addition to exploring new growth avenues, we will also continue to make efforts to ensure that our business and financial performance remains stable, which will further enhance DouYu's competitive edge and market leadership in the domestic gaming content market.
I am Mr.. During a challenging macroeconomic environment, DouYu was proactive in refining its monetization and marketing strategies, which resulted in a stabilization of the company's finances in the third quarter, according to Vice President Hao Cao. As a result, we have managed to adapt to the market dynamics with agile pricing, and we have fortified our business innovation, reporting total net revenues of RMB1 billion for the second half of the year..The third quarter of the year saw a revenue of 36 billion. As part of our cost-control measures, we also continued to improve our operating efficiency, resulting in a significant reduction in content costs as a result.. As a result, we were able to generate a gross profit of RMB192 million for the third quarter.A total of $4 million was generated, representing a gross margin of 14%.Two percent. There was a net income of RMB 76 million for the year.A loss of RMB4 million was recorded in the quarter against a loss of RMB6 million in the previous quarter.Compared to the same period last year, the number of sales has increased by 6 million. There was a growth of 179 percent in our adjusted net profit.9% growth year-over-year to RMB71 billion.In 2009, there were nine million people. During the last three quarters, both our gross margin and adjusted net margin have improved for three consecutive quarters.. In the years to come, we will continue to implement our long-term, sustainable growth strategy, ensuring financial stability while advancing our core business operations at the same time. There is no doubt that we will actively explore new business models and monetization channels, laying a solid foundation for business development as well as working hard to create long-term value for our shareholders
There is no doubt that we will actively explore new business models and monetization channels, laying a solid foundation for business development as well as working hard to create long-term value for our shareholders
Financial Results for the Third Quarter of 2023
A total of RMB1,359.2 million (US$186.3 million) in net revenues was reported for the third quarter of 2023, a decrease of 24.4% from RMB1,798.3 million in the same period of 2022.
From RMB1,705.0 million in the third quarter of 2022 to RMB1,151.0 million (US$157.8 million) in the third quarter of 2023, livestreaming revenues decreased by 32.5%. In light of the soft macroeconomic environment, which resulted in a decrease in the number of quarterly paying users, the decrease is primarily attributable to the soft macroeconomic environment.
In the third quarter of 2023, advertising and other revenues increased by 123.2% to RMB208.2 million (US$28.5 million) from RMB93.3 million in the same period of 2022. This increase was primarily driven by the increase in revenues generated through other innovative business models that were generated.
The cost of revenues in the third quarter of 2023 was RMB1,166.8 million (US$159.9 million), a decrease of 24.6% when compared to the cost of revenues of RMB1,547.1 million in the same period of 2022.
In the third quarter of 2023, revenue sharing fees and content costs decreased by 29 percent compared to the second quarter of 2023.To RMB927, 7% has been added.A total of $127 million (US$4 million) has been raised.A difference of RMB1,319 (a million) from RMB1,319.In the same period of 2022, there will be 6 million new jobs. It was primarily attributed to the decline in sharing fees, which was aligned with a decline in livestreaming revenues, as well as a decline in content costs, which was due to improved cost management in self-produced content and streamer payments being more efficient.. As a result of the acquisition of the LPL tournament copyright, the decrease in costs was partly offset by a rise in the costs associated with copyright
As a result of the acquisition of the LPL tournament copyright, the decrease in costs was partly offset by a rise in the costs associated with copyright
The cost of bandwidth in the third quarter of 2023 decreased by 21.4% from RMB135.0 million (US$14.5 million) in the same period of 2022 to RMB106.1 million (US$14.5 million). Most of this decline can be attributed to our effective measures for controlling bandwidth costs. 
This company reported a gross profit of RMB192.4 million (US$26 million) in the third quarter of 2023, compared to RMB251.2 million in the third quarter of 2022. The decline in gross profit was mainly due to a decrease in livestreaming revenues and an increase in other costs related to the development of innovative business. As of the third quarter of 2023, the gross margin of 14.2% remained relatively stable as it did in the same period of 2022.
It is worth noting that in the third quarter of 2023, sales and marketing expenses decreased by 44.5% to RMB90.0 million (US$12.3 million) from RMB162.1 million in the same period of 2022. Most of this decrease was due to the decrease in user acquisition marketing expenses. 
The company's R&D expenses in the third quarter of 2023 decreased by 11.7% to RMB74.5 million (US$10.2 million) from RMB84.4 million in the same period of 2022. The reason for this decrease was primarily attributed to a decrease in personnel-related costs.
It has been reported that the general and administrative expenses in the third quarter of 2023 decreased by 2.5% from RMB52.3 million in the same period of 2022 to RMB51.0 million (US$7.0 million).
In the third quarter of 2023, other operating income, net was RMB14.3 million (US$2.0 million), which is down from RMB36.5 million in the same period in 2022.
In the third quarter of 2023, the loss from operations of the company was RMB8.8 million (US$1.2 million), compared with RMB11.1 million in the same period of 2022.
There was a net loss of RMB6.6 million in the third quarter of 2022, compared with a net income of RMB76.4 million (US$10.5 million) in the third quarter of 2023.
There was a RMB71.9 million (US$9.9 million) adjusted net income in the third quarter of 2023, which excluded share-based compensation expenses, the share of income (loss) from equity method investments, gain on disposition of investments, and impairment losses on investments. In the same period in 2022, RMB25.7 million was reported as adjusted net income.
Accordingly, the basic and diluted net income per ADS[4] for the third quarter of 2023 were both RMB0.24 (US$0.03). The adjusted basic and diluted net income per ADS for the third quarter of 2023 were both RMB0.22 (US$0.03).
There are various types of cash and cash equivalents, as well as restricted cash and bank deposits
In the third quarter of 2023, the Company had cash and cash equivalents, restricted cash, and short-term and long-term bank deposits totaling RMB7,139.4 million (US$978.5 million), as opposed to RMB6,808.8 million in the third quarter of 2022.
Information about the conference call
It is planned for the Company to conduct a conference call on December 7, 2023, at 7:00 a.m. Eastern Time (or 8:00 p.m. Beijing Time on the same day) to discuss its financial results. Listeners may access the call by dialing the following numbers:
By dialing the following numbers, you will be able to access the replay of the conference until December 14, 2023:
 There will also be a live and archived webcast of the conference call available on the Company's investor relations website at http://ir.douyu.com during the conference call.
Detailed information about DouYu International Holdings Limited can be found here
DouYu International Holdings Limited (Nasdaq: DOYU) headquartered in Wuhan, China, is one of the world's leading game-centric live streaming platforms and a pioneer in the eSports value chain in China and the world. There are 2 versions of the DouYu platform: one for PCs and one for mobile devices via which users can access immersive and interactive livestreams of games and entertainment, a variety of video and graphic contents, as well as the chance to participate in community events and discussions on the platform.. Having established a sustainable system of talent development based on technology, as well as consistently producing high-quality content, DouYu consistently delivers premium content via the integration of livestreaming, video, graphics, and virtual communities with a particular focus on video games, particularly eSports.. As a result, DouYu is able to continuously improve the user experience and pursue a long-term, healthy development plan. It is recommended that you visit the following website for more information: http://ir.It's Douyu.Visit www.com
Visit www.com
The use of non-GAAP financial measures by the company
A company's adjusted operating income (loss) is calculated by subtracting the share-based compensation expense from its operating income (loss).. Generally, adjusted net income (loss) is calculated as net income (loss) adjusted for share-based compensation expenses, shares of income (loss) in equity method investments, gains on disposal of investments, and impairment losses associated with investments.. In order to calculate adjusted net income (loss) attributable to DouYu, 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, gain on disposal of investment and impairment loss on investments.. In order to calculate adjusted basic and diluted net income per ordinary share, non-GAAP net income attributable to ordinary shareholders is divided by the weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share.. In order to better understand and evaluate the Company's core operating performance, the Company adjusted the impact of (i) share-based compensation expenses, (ii) share of income (loss) in equity method investments, (iii) gain on sale of investments, (iv) impairment loss on investments.. The non-GAAP financial measures are presented to enhance investors' overall understanding of the Company's financial performance, and are not intended to replace, or be regarded as superior to, the financial information prepared and presented in accordance with U.S. GAAP.. According to GAAP,. The investors are encouraged to review the reconciliation of the historical non-GAAP financial measures with the most directly comparable GAAP financial measures available on the company's website. Due to the fact that non-GAAP financial measures have material limitations as an analytical metric, and they may not be calculated in a uniform manner by all companies, they may not be comparable to other similarly titled measures used by other companies in the same industry.. As a result of the foregoing limitations, you should not consider non-GAAP measures as a substitute or superior to the measures prepared in accordance with U.S. GAAP. According to GAAP,
According to GAAP,
You can find more information about these non-GAAP financial measures in the table captioned "Reconciliations of Non-GAAP Results" near the end of this press release.
Information about the exchange rate
A translation of certain RMB amounts into U.S. dollars is included in this announcement. In order to make things easier for the reader, we have specified a dollar rate based solely on convenience. All translations from RMB to U.S. dollars are unless otherwise noted. There is a rate of RMB7 for each dollar made.To convert 2960 dollars into US dollars, click here.There was a noon buying rate of $5.00, the rate that was in effect on September 29, 2023, in the H..The Federal Reserve Board has released its 10th statistical release. There is no representation on the part of the Company that any of the RMB amounts could have, or even could be, converted, realized, or settled in U.S. dollars. As of September 29, 2023, at that rate, or at any other rate you choose
As of September 29, 2023, at that rate, or at any other rate you choose
Statement of Safe Harbor
There are forward-looking statements in this press release. The following statements are made pursuant to the "safe harbor" provisions of the U.S.. As a result of the 1995 Private Securities Litigation Reform Act,. It is important to note that forward-looking statements are those that are not historical facts, such as statements relating to the Company's beliefs and expectations. 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. The forward-looking statements can be identified in some cases by the use of words and phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" and similar expressions.. A more detailed description of these and other risks, uncertainties, or factors can be found in the Company's filings with the Securities and Exchange Commission, as well as on the Company's website.. As of the date of this press release, all information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update the information in this press release, except as required by applicable law.
As of the date of this press release, all information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update the information in this press release, except as required by applicable law.
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The source of this information is DouYu International Holdings Limited
A leading game-centric live streaming platform in China and the first ever game-centric live streaming platform in the world is DouYu International Holdings Limited ("DouYu" or the "Company"). ...
It has been announced today by DouYu International Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU) that on November 24, 2023, the board of directors will take action to begin the process of privatizing the company.
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