WUHAN,
China, May 18, 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 first quarter
ended March 31, 2022.
First Quarter 2022 Financial and Operational
Highlights
- Total net revenues in the first quarter of 2022 were
RMB1,795.6 million (US$283.3 million), compared with RMB2,152.7 million in the same period of
2021.
- Gross profit in the first quarter of 2022 was RMB243.8 million (US$38.5
million), compared with RMB260.2
million in the same period of 2021.
- Net loss in the first quarter of 2022 was RMB86.9 million (US$13.7
million), compared with RMB101.8
million in the same period of 2021.
- Adjusted net loss[1] in the first quarter of 2022
was RMB52.5 million (US$8.3 million), compared with RMB70.7 million in the same period of 2021.
- Average mobile MAUs[2] in the first quarter of 2022
were 55.1 million, compared with 59.1 million in the same period of
2021.
- Quarterly average paying user[3] count in the first
quarter of 2022 was 6.4 million, compared with 7.0 million in the
same period of 2021.
Mr. Shaojie Chen, Chief Executive
Officer of DouYu, commented, "During the first quarter of 2022, we
continued executing on our strategic upgrade to develop our
game-centric comprehensive content platform. In conjunction with
our adoption of a selective copyright procurement strategy, we
increased our investment in self-produced content and tournaments
and enhanced our collaboration with game developers and
distributors to deliver a stable operational performance through
our high-quality game contents and refined operations. Our average
mobile MAUs were 55.1 million in the first quarter. Going forward,
we will continue to explore new business initiatives by leveraging
our competitive advantage in livestreaming, videos, graphics, and
interactive communities, while maintaining our leading position in
the traditional livestreaming industry."
Mr. Hao Cao, Vice President of DouYu, commented, "In the first
quarter of 2022, our total revenues were RMB1.8 billion and our gross profit was
RMB243.8 million, representing a
gross margin of 13.6%. During the same quarter, we continued to
make adjustments to our livestreaming operations and optimized our
cost structure while constantly offering our premium content and
refining our operations. We focused on operating efficiency
improvement through ROI enhancement and cost controls and achieved
encouraging results. Our gross margin improved year over year and
net loss decreased to 86.9 million, while adjusted net loss
narrowed to RMB52.5 million.
Looking ahead, we will continue to improve our operational
efficiency and remain focused on exploring new growth drivers and
enhancing monetization capabilities to generate sustainable growth
and higher shareholder value."
First Quarter 2022 Financial Results
Total net revenues in the first quarter of 2022 decreased
by 16.6% to RMB1,795.6 million
(US$283.3million), compared with
RMB2,152.7 million in the same period
of 2021.
Livestreaming revenues in the first quarter of 2022
decreased by 13.6% to RMB1,727.2 million (US$272.5 million) from RMB1,998.6 million in the same period of 2021.
The decrease was due to the implementation of prudent operating
strategies in anticipation of a tightening regulatory environment.
Such strategies primarily include the Company's adjustments to
certain interactive features and the related operations in order to
promote the long-term development of its platform.
Advertising and other revenues in the first quarter
of 2022 were RMB68.4 million
(US$10.8 million), compared with
RMB154.1 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 challenging macro environment.
Cost of revenues in the first quarter of 2022 was
RMB1,551.8million (US$244.8 million), a decrease of 18.0% compared
with RMB1,892.5 million in the same
period of 2021.
Revenue sharing fees and content costs in the first
quarter of 2022 decreased by 19.2% to RMB1,340.6 million (US$211.5 million) from RMB1,659.6 million in the same period of
2021. The decrease was primarily due to the decreased revenue
sharing fees which is in line with the Company's decreased
livestreaming revenues, as well as a significant decrease in
copyright costs.
Bandwidth costs in the first quarter of 2022
decreased by 11.8% to RMB151.9
million (US$24.0 million) from
RMB172.1 million in the same period
of 2021. The decrease was mainly due to less peak bandwidth usage
for fewer purchased eSport tournaments, as well as lower per unit
bandwidth costs as a result of improved procurement efficiency.
Gross profit in the first quarter of 2022 was
RMB243.8 million (US$38.5 million), compared with RMB260.2 million in the same period of 2021.
Gross margin in the first quarter of 2022 improved to 13.6% from
12.1% in the same period of 2021. The increase in gross margin was
primarily due to the significant decrease in copyright costs as a
percentage of total net revenues.
Sales and marketing expenses in the first quarter of
2022 decreased 11.2% to RMB186.4
million (US$29.4 million) from
RMB209.9 million in the same period
of 2021. The decrease was mainly attributable to the decreased
personnel-related expenses and branding expenses.
Research and development expenses in the first
quarter of 2022 increased 4.5% to RMB116.3
million (US$18.3million) from
RMB111.3 million in the same period
of 2021. The increase was primarily attributable to continued
investment in technical personnel as the Company continues to
invest in product upgrades to support its game-centric content
strategy.
General and administrative expenses in the first
quarter of 2022 increased 2.3% to RMB90.1
million (US$14.2 million) from
RMB88.1 million in the same period of
2021.
Other operating income, net in the first quarter
of 2022 was RMB47.8 million
(US$7.5 million), compared with other
operating income of RMB23.9 million
in the same period of 2021.
Loss from operations in the first quarter of 2022
was RMB101.2 million (US$16.0 million), compared with RMB125.1 million in the same period of 2021.
Adjusted loss from operations in the first quarter of
2022, which adds back share-based compensation expenses, was
RMB68.0 million (US$10.7 million), compared with RMB91.8 million in the same period of 2021.
Income tax expenses in the first quarter of 2022 and 2021
were nil due to the Company's cumulative net losses and the
resulting tax loss carry forward.
Net loss in the first quarter of 2022 was
RMB86.9 million (US$13.7 million), compared with RMB101.8 million in the same period of
2021.
Adjusted net loss in the first quarter of 2022,
which excludes share-based compensation expenses, share of loss in
equity method investments, and impairment loss of investments, was
RMB52.5 million (US$8.3 million), compared with RMB70.7 million in the same period of 2021.
Basic and diluted net loss per
ADS[4] in the first quarter of 2022 were
RMB0.27 (US$0.04) and RMB0.27 (US$0.04),
respectively. Adjusted basic and diluted net loss per ADS in
the first quarter of 2022 were RMB0.16 (US$0.03)
and RMB0.16 (US$0.03), respectively.
Cash and cash equivalents, restricted cash and bank
deposits
As of March 31, 2022, the Company
had cash and cash equivalents, restricted cash, short-term and
long-term bank deposits of RMB6,315
million (US$996.2 million),
compared with RMB6,643 million as of
December 31, 2021.
Share Repurchase Program
On August 30, 2021, the Company
announced that its board of directors had authorized a share
repurchase program under which the Company may repurchase up to
US$100 million of its ordinary shares
in the form of ADSs during a period of up to 12 months commencing
on August 30, 2021. The Company
expects to utilize existing funds to make repurchases under this
program. As of March 31, 2022, the
Company had repurchased an aggregate of US$33.9 million (RMB215
million) worth of its ADSs under this program.
Recent Developments
Regulatory Update
On May 7, 2022, the competent
authorities of the PRC issued the Opinion on Live Streaming Virtual
Gifting and Enhancing the Protection of Minors (the "Opinion"). The
Opinion stipulates that, for the main purpose of protecting minors,
internet platforms shall, among other requirements and
restrictions, (i) prohibit minors from engaging in virtual gifting,
(ii) cancel all ranking functions that rank livestreamers solely by
the volume of virtual gifts that they receive or rank users by the
volume of virtual gifts that they send, within one month starting
from the publication of the Opinion, and (iii) impose restrictions
on certain interaction functions between
8:00 p.m. and 10:00 p.m. every day.
The Company is committed to fully complying with the Opinion and
other applicable laws and regulations. Although the interpretation
and implementation of the Opinion remain uncertain, the Company is
carefully considering the provisions of the Opinion and assessing
their implications for the Company's business. While the Company
has been proactively monitoring the regulatory trends, and has
strategically adjusted its operational strategies in response to
the evolving regulatory landscape, the Company expects the Opinion,
and the compliance measures to be taken, will have negative impacts
on the live streaming service of the industry players, including
that of the Company, which may in turn adversely affect the
Company's business operations and financial condition. The Company
will proactively seek guidance from and cooperate with the
regulatory authorities in connection with its efforts to comply
with the Opinion and the related implementation rules. There is no
assurance that the compliance measures that the Company plans to
take will be effective, or the implementation of the Opinion will
not have a material adverse impact on the Company's business
operations and financial condition in the following quarters.
Conference Call Information
The Company will hold a conference call on May 18, 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:
|
7654821
|
The replay will be accessible through May 25, 2022, by
dialing the following numbers:
International:
|
1-412-317-0088
|
United States Toll
Free:
|
1-877-344-7529
|
Conference
ID:
|
2324012
|
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 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 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.
|
[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 RMB6.3393 to US$1.00, the noon buying rate in effect on
March 31, 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
March 31, 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 March
31
|
|
2021
|
2022
|
2022
|
ASSETS
|
RMB
|
RMB
|
US$
(1)
|
Current
assets:
|
|
|
|
Cash and cash equivalents
|
4,456,406
|
3,548,413
|
559,748
|
Restricted cash
|
10,703
|
6,057
|
955
|
Short-term bank deposits
|
2,076,355
|
2,660,532
|
419,689
|
Accounts receivable, net
|
191,389
|
153,378
|
24,195
|
Prepayments
|
80,717
|
60,091
|
9,479
|
Amounts due from related parties
|
37,159
|
35,116
|
5,539
|
Other current assets
|
376,367
|
380,464
|
60,017
|
Total current
assets
|
7,229,096
|
6,844,051
|
1,079,622
|
|
|
|
|
Property and equipment, net
|
25,111
|
22,047
|
3,478
|
Intangible assets, net
|
161,540
|
155,326
|
24,502
|
Long-term bank deposits
|
100,000
|
100,000
|
15,775
|
Investments
|
491,425
|
530,245
|
83,644
|
Goodwill
|
12,637
|
12,582
|
1,985
|
Right-of-use assets, net
|
72,309
|
64,288
|
10,141
|
Other non-current assets
|
64,785
|
48,731
|
7,687
|
Total non-current
assets
|
927,807
|
933,219
|
147,212
|
TOTAL
ASSETS
|
8,156,903
|
7,777,270
|
1,226,834
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
LIABILITIES
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts payable
|
824,128
|
766,821
|
120,963
|
Advances from customers
|
7,476
|
8,388
|
1,323
|
Deferred revenue
|
235,134
|
231,410
|
36,504
|
Accrued expenses and other current liabilities
|
458,328
|
343,058
|
54,116
|
Amounts due to related parties
|
293,508
|
303,522
|
47,879
|
Lease liabilities due within one year
|
30,417
|
31,523
|
4,973
|
Total current
liabilities
|
1,848,991
|
1,684,722
|
265,758
|
|
|
|
|
Lease liabilities
|
31,278
|
25,368
|
4,002
|
Deferred revenue
|
18,045
|
14,973
|
2,362
|
Total non-current
liabilities
|
49,323
|
40,341
|
6,364
|
TOTAL
LIABILITIES
|
1,898,314
|
1,725,063
|
272,122
|
|
(1) Translations of 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 RMB6.3393 to US$1.00, the noon
buying rate in effect on March 31, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
As of March
31
|
|
2021
|
2022
|
2022
|
|
RMB
|
RMB
|
US$
(1)
|
SHAREHOLDERS'
EQUITY
|
|
|
|
Ordinary shares
|
23
|
23
|
4
|
Treasury shares
|
(802,250)
|
(911,217)
|
(143,741)
|
Additional paid-in capital
|
10,618,538
|
10,646,289
|
1,679,411
|
Accumulated deficit
|
(3,445,102)
|
(3,531,957)
|
(557,153)
|
Accumulated other comprehensive loss
|
(112,621)
|
(156,391)
|
(24,670)
|
Total DouYu
Shareholders' Equity
|
6,258,588
|
6,046,747
|
953,851
|
Noncontrolling interests
|
1
|
5,460
|
861
|
Total Shareholders'
Equity
|
6,258,589
|
6,052,207
|
954,712
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
8,156,903
|
7,777,270
|
1,226,834
|
|
(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 RMB6.3393 to US$1.00, the noon
buying rate in effect on March 31, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
Three Months
Ended
|
|
March
31,
|
December
31,
|
March
31,
|
March
31,
|
|
2021
|
2021
|
2022
|
2022
|
|
RMB
|
RMB
|
RMB
|
US$(1)
|
Net
revenues
|
2,152,687
|
2,327,917
|
1,795,646
|
283,256
|
Cost of
revenues
|
(1,892,499)
|
(2,083,223)
|
(1,551,872)
|
(244,802)
|
Gross
profit
|
260,188
|
244,694
|
243,774
|
38,454
|
Operating income
(expense) (2)
|
|
|
|
|
Sales and marketing
expenses
|
(209,877)
|
(229,214)
|
(186,358)
|
(29,397)
|
General and
administrative expenses
|
(88,074)
|
(98,756)
|
(90,100)
|
(14,213)
|
Research and
development expenses
|
(111,264)
|
(132,574)
|
(116,308)
|
(18,347)
|
Other operating income,
net
|
23,924
|
13,909
|
47,801
|
7,540
|
Total operating
expenses
|
(385,291)
|
(446,635)
|
(344,965)
|
(54,417)
|
Loss from
operations
|
(125,103)
|
(201,941)
|
(101,191)
|
(15,963)
|
Other income
(expenses), net
|
127
|
(1,237)
|
(1,149)
|
(181)
|
Interest income,
net
|
20,930
|
17,889
|
16,632
|
2,624
|
Loss before income
taxes and share of income (loss)
in equity method investments
|
(104,046)
|
(185,289)
|
(85,708)
|
(13,520)
|
Income tax
expenses
|
-
|
-
|
-
|
-
|
Share of income (loss)
in equity method investments
|
2,213
|
(7,937)
|
(1,146)
|
(181)
|
Net
loss
|
(101,833)
|
(193,226)
|
(86,854)
|
(13,701)
|
Less: Net (loss) income
attributable to noncontrolling
interest
|
(39,814)
|
56,499
|
-
|
-
|
Net loss
attributable to ordinary shareholders of the
Company
|
(62,019)
|
(249,725)
|
(86,854)
|
(13,701)
|
Net loss per
ordinary share
|
|
|
|
|
Basic
|
(1.92)
|
(7.65)
|
(2.71)
|
(0.43)
|
Diluted
|
(1.92)
|
(7.65)
|
(2.71)
|
(0.43)
|
Net loss per
ADS(3)
|
|
|
|
|
Basic
|
(0.19)
|
(0.77)
|
(0.27)
|
(0.04)
|
Diluted
|
(0.19)
|
(0.77)
|
(0.27)
|
(0.04)
|
|
|
|
|
|
Weighted average
number of ordinary shares used in calculating net loss per ordinary
share
|
Basic
|
32,349,764
|
32,636,774
|
32,065,147
|
32,065,147
|
Diluted
|
32,349,764
|
32,636,774
|
32,065,147
|
32,065,147
|
|
|
|
|
|
Weighted average
number of ADS used in calculating net loss per
ADS(3)
|
Basic
|
323,497,638
|
326,367,743
|
320,651,471
|
320,651,471
|
Diluted
|
323,497,638
|
326,367,743
|
320,651,471
|
320,651,471
|
|
(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 RMB6.3393 to US$1.00, the noon
buying rate in effect on March 31, 2022, in
the H.10 statistical release
of the Federal Reserve Board.
|
(2) Share-based
compensation expenses were allocated in cost of revenues and
operating expenses as follows:
|
|
Three Months
Ended
|
|
March
31,
|
December
31,
|
March
31,
|
March
31,
|
|
2021
|
2021
|
2022
|
2022
|
|
RMB
|
RMB
|
RMB
|
US$(1)
|
Research and
development expenses
|
5,468
|
5,444
|
5,435
|
857
|
Sales and marketing
expenses
|
1,217
|
1,214
|
1,212
|
191
|
General and
administrative expenses
|
26,632
|
26,604
|
26,563
|
4,190
|
|
(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
|
|
March
31,
|
December
31,
|
March
31,
|
March
31,
|
|
2021
|
2021
|
2022
|
2022
|
|
RMB
|
RMB
|
RMB
|
US$(1)
|
Loss from
operations
|
(125,103)
|
(201,941)
|
(101,191)
|
(15,963)
|
Add:
|
|
|
|
|
Share-based
compensation expenses
|
33,317
|
33,262
|
33,210
|
5,238
|
Adjusted operating
loss
|
(91,786)
|
(168,679)
|
(67,981)
|
(10,725)
|
|
|
|
|
|
Net
loss
|
(101,833)
|
(193,226)
|
(86,854)
|
(13,701)
|
Add:
|
|
|
|
|
Share-based
compensation expenses
|
33,317
|
33,262
|
33,210
|
5,238
|
Share of (income) loss
in equity method investments
|
(2,213)
|
7,937
|
1,146
|
181
|
Impairment losses of
investments
|
-
|
1,297
|
-
|
-
|
Adjusted net
loss
|
(70,729)
|
(150,730)
|
(52,498)
|
(8,282)
|
|
|
|
|
|
Net loss
attributable to DouYu
|
(62,019)
|
(249,725)
|
(86,854)
|
(13,701)
|
Add:
|
|
|
|
|
Share-based
compensation expenses
|
33,317
|
33,262
|
33,210
|
5,238
|
Share of (loss) income
in equity method investments
|
(2,213)
|
7,937
|
1,146
|
181
|
Impairment losses and
fair value adjustments on
investments
|
-
|
1,297
|
-
|
-
|
Adjusted net loss
attributable to DouYu
|
(30,915)
|
(207,229)
|
(52,498)
|
(8,282)
|
|
|
|
|
|
Adjusted net loss
per ordinary share
|
|
|
|
|
Basic
|
(0.96)
|
(6.35)
|
(1.64)
|
(0.26)
|
Diluted
|
(0.96)
|
(6.35)
|
(1.64)
|
(0.26)
|
|
|
|
|
|
Adjusted net loss
per ADS(2)
|
|
|
|
|
Basic
|
(0.10)
|
(0.63)
|
(0.16)
|
(0.03)
|
Diluted
|
(0.10)
|
(0.63)
|
(0.16)
|
(0.03)
|
|
|
|
|
|
Weighted average number
of ordinary shares used in calculating adjusted net loss per
ordinary share
|
Basic
|
32,349,764
|
32,636,774
|
32,065,147
|
32,065,147
|
Diluted
|
32,349,764
|
32,636,774
|
32,065,147
|
32,065,147
|
|
|
|
|
|
Weighted average number
of ordinary shares used in calculating adjusted net loss per
ADS(2)
|
Basic
|
323,497,638
|
326,367,743
|
320,651,471
|
320,651,471
|
Diluted
|
323,497,638
|
326,367,743
|
320,651,471
|
320,651,471
|
|
(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 RMB6.3393 to US$1.00, the noon
buying rate in effect on March 31, 2022, in the H.10
statistical release of the Federal Reserve Board.
|
(2) The net
tax impact to the non-GAAP adjustments is
zero
|
(3) Every
ten ADSs represent one ordinary share.
|
View original
content:https://www.prnewswire.com/news-releases/douyu-international-holdings-limited-reports-first-quarter-2022-unaudited-financial-results-301549836.html
SOURCE DouYu International Holdings Limited