WUHAN,
China, March 20, 2023 /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 fourth quarter and the full year ended December 31, 2022.
Fourth Quarter 2022 Financial and Operational Highlights
- Total net revenues in the fourth quarter of 2022 were
RMB1,681.1 million (US$243.7 million) compared with RMB2,327.9 million in the same period of
2021.
- Gross profit in the fourth quarter of 2022 was RMB186.1 million (US$27.0
million), compared with RMB244.7
million in the same period of 2021.
- Net income in the fourth quarter of 2022 was RMB41.8 million (US$6.1
million), compared with net loss of RMB193.2 million in the same period of 2021.
- Adjusted net loss[1] in the fourth quarter of 2022
was RMB4.3 million (US$0.6 million), compared with RMB150.7 million in the same period of 2021.
- Average mobile
MAUs[2] in the fourth quarter of 2022 decreased
by 8.0% to 57.4 million from 62.4 million in
the same period of 2021.
- Quarterly average paying user[3] count in
the fourth quarter
of 2022 was 5.6 million,
compared with 7.3 million in
the same period of 2021.
Full Year 2022 Financial Highlights
- Total net revenues for the full year of 2022 were RMB7,108.2 million (US$1,030.6 million), compared with RMB9,165.3 million in the same period of
2021.
- Gross profit for the full year of 2022 was RMB990.1 million (US$143.6
million), compared with RMB1,089.9
million in the same period of 2021.
- Net loss for the full year of 2022 was RMB90.4 million (US$13.1
million), compared with RMB620.2
million in the same period of 2021.
- Adjusted net loss[1] for the full year of 2021
was RMB7.6 million (US$1.1 million), compared with RMB439.3 million in the same period of 2021.
Mr. Shaojie Chen, Chief Executive
Officer of DouYu, commented, "Against the backdrop of a complex and
volatile macro environment throughout 2022, we remained committed
to our core growth strategy of fostering a vibrant game-centric
content ecosystem. We concluded the year with steady business
performance through a mix of operational adaptations, including
revenue optimization, a selective copyright procurement strategy,
and investments in self-produced content. In the fourth quarter,
our mobile MAUs were 57.4 million, a slight increase over the prior
quarter. Looking ahead, we will dedicate ourselves to driving
growth based on our content ecosystem as we prioritize content
enrichment and community-wide interactions to boost user stickiness
and retention, other than emphasizing the short-term growth of our
business. Building on our continuous efforts to cultivate
high-quality game-centric content and engage core users, we will
strive to maintain our leading position in China's live-streaming gaming industry while
exploring new growth avenues, propelling DouYu's healthy and
sustainable development."
Mr. Hao Cao, Vice President of DouYu, commented, "In the fourth
quarter of 2022, our total revenues were RMB1.68 billion. Our gross profit was
RMB186.1 million, with a gross margin
of 11.1%. Meanwhile, our adjusted net loss was RMB4.3 million. Throughout the year, while
continuously investing in high-quality self-produced content and
optimizing our revenue structure, we made good progress in reducing
costs and improving efficiency by adjusting our livestreaming
operations and optimizing our business spending. In 2022, our
full-year gross profit improved to 13.9%, and our adjusted net loss
narrowed significantly to RMB7.6
million. Moving forward, as part of our strategic focus on
healthy long-term growth, our revenue may experience some immediate
impact, which we believe is critical to our balanced growth. We
will also fine-tune our operating model while exploring new
monetization channels, striving to create long-term value for our
shareholders."
Fourth Quarter 2022 Financial Results
Total net revenues in the fourth quarter of 2022
decreased by 27.8% to RMB1,681.1
million (US$243.7 million),
compared with RMB2,327.9 million in
the same period of 2021.
Livestreaming revenues in the fourth quarter of 2022
decreased by 27.7% to RMB1,596.7
million (US$231.5 million)
from RMB2,209.4 million in the same
period of 2021. The decrease was primarily due to the continued
adjustments to certain interactive features and related operations,
as well as the negative impact of streamers' decreased activities
following the end of Covid-19 restrictions.
Advertising and other revenues in the
fourth quarter of 2022 were RMB84.3
million (US$12.2 million),
compared with RMB118.5 million in the
same period of 2021. The decrease was primarily due to the soft
demand for advertisements in 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 fourth quarter of
2022 was RMB1,495.0 million
(US$216.8 million), a decrease of
28.2% compared with RMB2,083.2
million in the same period of 2021.
Revenue sharing fees and content costs in the fourth
quarter of 2022 decreased to RMB1,271.1
million (US$184.3 million)
from RMB1,846.9 million in the same
period of 2021. The decrease was primarily due to decreased revenue
sharing fees in accordance with the decrease in livestreaming
revenues, as well as a significant decrease in copyright costs
which was attributed to a selective procurement strategy.
Bandwidth costs in the fourth quarter of 2022 decreased
by 17.6% to RMB138.4 million
(US$20.1 million) from RMB167.9 million in the same period of 2021. The
decrease was mainly due to the year-over-year reduction in peak
bandwidth usage in the absence of purchased eSport tournament
copyright.
Gross profit in the fourth quarter of 2022 was
RMB186.1 million (US$27.0 million), compared with RMB244.7 million in the same period of 2021.
Gross margin in the fourth quarter of 2022 improved to 11.1% from
10.5% in the same period of 2021. The increase in gross margin was
primarily due to the decreases in both revenue sharing fees and
copyright costs as a percentage of total net revenues, which were
partially offset by the increase in self-produced content costs as
a percentage of total net revenues.
Sales and marketing expenses in the fourth quarter of
2022 decreased 45.9% to RMB123.9
million (US$18.0 million) from
RMB229.2 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 fourth
quarter of 2022 decreased 39.2% to RMB80.6
million (US$11.7 million) from
RMB132.6 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 fourth quarter
of 2022 decreased 44.1% to RMB55.2
million (US$8.0 million) from
RMB98.8 million in the same period of
2021, mainly due to decreases in share-based compensation expenses
and professional service fees.
Other operating income, net in the fourth quarter of 2022
was RMB17.6 million (US$2.5 million), compared with RMB13.9 million in the same period of
2021.
Loss from operations in the fourth quarter of 2022 was
RMB56.0 million (US$8.1 million), compared with RMB201.9 million in the same period of 2021.
Adjusted operating loss, which adds back share-based
compensation expenses, was RMB56.0
million (US$8.1 million),
compared with adjusted loss from operations of RMB168.7 million in the same period
of 2021.
Net income in the fourth quarter of 2022 was RMB41.8 million (US$6.1
million), compared with net loss of RMB193.2 million in the same period of 2021.
Adjusted net loss, which excludes share-based
compensation expenses, the share of (loss) income in equity method
investments, and impairment loss of investments, was RMB4.3 million (US$0.6
million) in the fourth quarter of 2022, compared with
adjusted net loss of RMB150.7 million
in the same period of 2021.
Basic and diluted net income per
ADS[4] in the fourth quarter of 2022 were both
RMB0.14 (US$0.02). Adjusted
basic and diluted net loss per ADS in the fourth quarter of
2022 were both RMB0.003
(US$0.0004).
Full Year 2022 Financial Results
Total net revenues for the full year of 2022 were
RMB7,108.2 million (US$1,030.6 million), compared with RMB9,165.3 million in the same period of 2021.
The decrease was primarily driven by the year-over-year decrease in
livestreaming revenues and advertising and other revenues.
Gross profit for the full year of 2022 was RMB990.1 million (US$143.6
million), compared with RMB1,089.9
million in the same period of 2021.
Loss from operations for the full year of 2022 was
RMB198.9 million (US$28.8 million), compared with RMB648.7 million in the same period of 2021.
Adjusted net loss for the full year of 2022, which
excludes share-based compensation expenses, the share of loss
(income) in equity method investments, and impairment loss of
investments, was RMB7.6 million
(US$1.1 million), compared with
adjusted RMB439.3 million in the same
period of 2021.
Basic and diluted net loss per ADS for the full year of
2022 were both RMB0.24 (US$0.03). Adjusted basic and diluted net income
per ADS in the full year of 2022 were both RMB0.02 (US$0.003).
Cash and cash equivalents, restricted cash and bank deposits
As of December 31, 2022, the
Company had cash and cash equivalents, restricted cash, and
short-term and long-term bank deposits of RMB6,808.8 million (US$987.2 million), compared with RMB6,643.5 million as of December
31, 2021.
Conference Call Information
The Company will hold a conference call on March 20, 2023, at 7:00 am
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:
|
7034524
|
The replay will be accessible through
March 27, 2023,
by dialing the following numbers:
International:
|
1-412-317-0088
|
United States
Toll Free:
|
1-877-344-7529
|
Conference ID:
|
4652111
|
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) income in equity method investments and
impairment loss of 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 of
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 RMB6.8972 to US$1.00, the
noon buying rate in effect on December 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 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. The announced
results of the fourth quarter and full year 2022 are preliminary
and unaudited. 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
In China:
Lingling
Kong
DouYu International
Holdings Limited
Email:
ir@douyu.tv
Tel: +86 (10)
6508-0677
|
Andrea Guo
The Piacente Group,
Inc.
Email:
douyu@tpg-ir.com
Tel: +86 (10)
6508-0677
|
In the United States:
Brandi
Piacente
The Piacente Group,
Inc.
Email:
douyu@tpg-ir.com
Tel:
+1-212-481-2050
|
|
Media Relations Contact
Lingling
Kong
DouYu International
Holdings Limited
Email:
pr_douyu@douyu.tv
Tel: +86 (10)
6508-0677
|
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
|
As of
December 31
|
|
2021
|
|
2022
|
|
2022
|
ASSETS
|
RMB
|
|
RMB
|
|
US$
(1)
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
4,456,406
|
|
4,041,603
|
|
585,977
|
Restricted
cash
|
10,703
|
|
6,057
|
|
878
|
Short-term bank
deposits
|
2,076,355
|
|
2,511,150
|
|
364,083
|
Accounts receivable,
net
|
191,389
|
|
109,180
|
|
15,830
|
Prepayments
|
80,717
|
|
26,064
|
|
3,779
|
Amounts due from
related parties
|
37,159
|
|
46,126
|
|
6,688
|
Other current
assets
|
376,367
|
|
337,004
|
|
48,861
|
Total current
assets
|
7,229,096
|
|
7,077,184
|
|
1,026,096
|
|
|
|
|
|
|
Property and
equipment, net
|
25,111
|
|
16,988
|
|
2,463
|
Intangible assets,
net
|
161,540
|
|
106,723
|
|
15,473
|
Long-term bank
deposits
|
100,000
|
|
250,000
|
|
36,247
|
Investments
|
491,425
|
|
531,911
|
|
77,120
|
Goodwill
|
12,637
|
|
13,804
|
|
2,001
|
Right-of-use assets,
net
|
72,309
|
|
49,911
|
|
7,236
|
Other non-current
assets
|
64,785
|
|
98,845
|
|
14,331
|
Total non-current
assets
|
927,807
|
|
1,068,182
|
|
154,871
|
TOTAL
ASSETS
|
8,156,903
|
|
8,145,366
|
|
1,180,967
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
824,128
|
|
666,985
|
|
96,704
|
Advances from
customers
|
7,476
|
|
6,459
|
|
936
|
Deferred
revenue
|
235,134
|
|
288,152
|
|
41,778
|
Accrued expenses and
other current liabilities
|
458,328
|
|
302,801
|
|
43,902
|
Amounts due to related
parties
|
293,508
|
|
266,788
|
|
38,681
|
Lease liabilities due
within one year
|
30,417
|
|
27,479
|
|
3,984
|
Total current
liabilities
|
1,848,991
|
|
1,558,664
|
|
225,985
|
|
|
|
|
|
|
Lease
liabilities
|
31,278
|
|
19,572
|
|
2,838
|
Deferred
revenue
|
18,045
|
|
6,570
|
|
953
|
Total non-current
liabilities
|
49,323
|
|
26,142
|
|
3,791
|
TOTAL
LIABILITIES
|
1,898,314
|
|
1,584,806
|
|
229,776
|
|
|
|
|
|
|
(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 RMB6.8972
to US$1.00, the noon buying rate in effect on December 30,
2022, in the H.10 statistical release of
the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
As of December
31
|
|
As of December
31
|
|
2021
|
|
2022
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
Ordinary
shares
|
23
|
|
23
|
|
3
|
Treasury
shares
|
(802,250)
|
|
(911,217)
|
|
(132,114)
|
Additional paid-in
capital
|
10,618,538
|
|
10,670,287
|
|
1,547,046
|
Accumulated
deficit
|
(3,445,102)
|
|
(3,520,525)
|
|
(510,428)
|
Accumulated other
comprehensive (loss) income
|
(112,621)
|
|
321,991
|
|
46,684
|
Total DouYu
Shareholders' Equity
|
6,258,588
|
|
6,560,559
|
|
951,191
|
Noncontrolling
interests
|
1
|
|
1
|
|
-
|
Total Shareholders'
Equity
|
6,258,589
|
|
6,560,560
|
|
951,191
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
8,156,903
|
|
8,145,366
|
|
1,180,967
|
|
|
|
|
|
|
(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 RMB6.8972
to US$1.00, the noon buying rate in effect on December 30,
2022, in the H.10 statistical release of
the Federal Reserve Board.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
|
(All amounts in
thousands, except share, ADS, per share and per ADS
data)
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
Dec
31,
2021
|
|
Sep
30,
2022
|
|
Dec
31,
2022
|
|
Dec
31,
2022
|
|
Dec
31,
2021
|
|
Dec
31,
2022
|
|
Dec
31,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Net
revenues
|
2,327,917
|
|
1,798,333
|
|
1,681,054
|
|
243,730
|
|
9,165,331
|
|
7,108,238
|
|
1,030,598
|
Cost of
revenues
|
(2,083,223)
|
|
(1,547,091)
|
|
(1,494,998)
|
|
(216,754)
|
|
(8,075,421)
|
|
(6,118,128)
|
|
(887,045)
|
Gross
profit
|
244,694
|
|
251,242
|
|
186,056
|
|
26,976
|
|
1,089,910
|
|
990,110
|
|
143,553
|
Operating (expenses)
income(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(229,214)
|
|
(162,137)
|
|
(123,912)
|
|
(17,966)
|
|
(952,902)
|
|
(639,871)
|
|
(92,773)
|
General and
administrative expenses
|
(98,756)
|
|
(52,308)
|
|
(55,175)
|
|
(8,000)
|
|
(375,976)
|
|
(288,242)
|
|
(41,791)
|
Research and
development expenses
|
(132,574)
|
|
(84,371)
|
|
(80,566)
|
|
(11,681)
|
|
(490,019)
|
|
(383,091)
|
|
(55,543)
|
Other operating
income, net
|
13,909
|
|
36,459
|
|
17,580
|
|
2,549
|
|
80,325
|
|
122,214
|
|
17,719
|
Total operating
expenses
|
(446,635)
|
|
(262,357)
|
|
(242,073)
|
|
(35,098)
|
|
(1,738,572)
|
|
(1,188,990)
|
|
(172,388)
|
Loss from
operations
|
(201,941)
|
|
(11,115)
|
|
(56,017)
|
|
(8,122)
|
|
(648,662)
|
|
(198,880)
|
|
(28,835)
|
Other expenses,
net
|
(1,237)
|
|
(32,577)
|
|
(17,692)
|
|
(2,565)
|
|
(33,852)
|
|
(80,301)
|
|
(11,643)
|
Interest income,
net
|
17,889
|
|
34,402
|
|
55,256
|
|
8,011
|
|
77,393
|
|
129,858
|
|
18,828
|
Loss before income
taxes and share of
loss in equity method investments
|
(185,289)
|
|
(9,290)
|
|
(18,453)
|
|
(2,676)
|
|
(605,121)
|
|
(149,323)
|
|
(21,650)
|
Income tax
expense
|
-
|
|
-
|
|
(3,487)
|
|
(506)
|
|
-
|
|
(3,487)
|
|
(506)
|
Share of (loss) income
in equity method investments
|
(7,937)
|
|
2,647
|
|
63,781
|
|
9,247
|
|
(15,128)
|
|
62,395
|
|
9,046
|
Net (loss)
income
|
(193,226)
|
|
(6,643)
|
|
41,841
|
|
6,065
|
|
(620,249)
|
|
(90,415)
|
|
(13,110)
|
Less: Net income
(loss) attributable to
noncontrolling interest
|
56,499
|
|
(3,672)
|
|
(3,479)
|
|
(504)
|
|
(38,366)
|
|
(14,992)
|
|
(2,174)
|
Net (loss) income
attributable to ordinary
shareholders of the Company
|
(249,725)
|
|
(2,971)
|
|
45,320
|
|
6,569
|
|
(581,883)
|
|
(75,423)
|
|
(10,936)
|
Net (loss) income
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(7.65)
|
|
(0.09)
|
|
1.42
|
|
0.21
|
|
(17.88)
|
|
(2.36)
|
|
(0.34)
|
Diluted
|
(7.65)
|
|
(0.09)
|
|
1.42
|
|
0.21
|
|
(17.88)
|
|
(2.36)
|
|
(0.34)
|
Net (loss) income
per ADS(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.77)
|
|
(0.01)
|
|
0.14
|
|
0.02
|
|
(1.79)
|
|
(0.24)
|
|
(0.03)
|
Diluted
|
(0.77)
|
|
(0.01)
|
|
0.14
|
|
0.02
|
|
(1.79)
|
|
(0.24)
|
|
(0.03)
|
Weighted average
number of ordinary shares used in calculating net (loss) income per
ordinary share
|
Basic
|
32,636,774
|
|
31,966,417
|
|
32,023,641
|
|
32,023,641
|
|
32,544,878
|
|
31,971,245
|
|
31,971,245
|
Diluted
|
32,636,774
|
|
31,966,417
|
|
32,023,641
|
|
32,023,641
|
|
32,544,878
|
|
31,971,245
|
|
31,971,245
|
Weighted average
number of ADS used in calculating net (loss) income per
ADS(3)
|
Basic
|
326,367,743
|
|
319,664,172
|
|
320,236,412
|
|
320,236,412
|
|
325,448,779
|
|
319,712,449
|
|
319,712,449
|
Diluted
|
326,367,743
|
|
319,664,172
|
|
320,236,412
|
|
320,236,412
|
|
325,448,779
|
|
319,712,449
|
|
319,712,449
|
|
(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 RMB6.8972 to
US$1.00, the noon buying rate in effect on December 30, 2022, in
the H.10 statistical release of the Federal
Reserve Board.
|
(2) Share-based compensation expenses
were allocated in cost of revenues and operating expenses as
follows:
|
|
Three Months
Ended
|
|
Year
Ended
|
|
Dec
31,
2021
|
|
Sep
30,
2022
|
|
Dec
31,
2022
|
|
Dec
31,
2022
|
|
Dec
31,
2021
|
|
Dec
31,
2022
|
|
Dec
31,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Research and
development expenses
|
5,444
|
|
605
|
|
-
|
|
-
|
|
21,661
|
|
11,476
|
|
1,664
|
Sales and marketing
expenses
|
1,214
|
|
135
|
|
-
|
|
-
|
|
4,823
|
|
2,560
|
|
371
|
General and
administrative expenses
|
26,604
|
|
1,958
|
|
-
|
|
-
|
|
105,655
|
|
52,705
|
|
7,642
|
|
(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
|
|
Year
Ended
|
|
Dec
31,
2021
|
|
Sep
30,
2022
|
|
Dec
31,
2022
|
|
Dec
31,
2022
|
|
Dec
31,
2021
|
|
Dec
31,
2022
|
|
Dec
31,
2022
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
|
RMB
|
|
RMB
|
|
US$
(1)
|
Loss from
operations
|
(201,941)
|
|
(11,115)
|
|
(56,017)
|
|
(8,122)
|
|
(648,662)
|
|
(198,880)
|
|
(28,835)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
33,262
|
|
2,698
|
|
-
|
|
-
|
|
132,139
|
|
66,741
|
|
9,677
|
Adjusted
Operating loss
|
(168,679)
|
|
(8,417)
|
|
(56,017)
|
|
(8,122)
|
|
(516,523)
|
|
(132,139)
|
|
(19,158)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)
income
|
(193,226)
|
|
(6,643)
|
|
41,841
|
|
6,065
|
|
(620,249)
|
|
(90,415)
|
|
(13,110)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
33,262
|
|
2,698
|
|
-
|
|
-
|
|
132,139
|
|
66,741
|
|
9,677
|
Share of loss (income)
in equity method investments
|
7,937
|
|
(2,647)
|
|
(63,781)
|
|
(9,247)
|
|
15,128
|
|
(62,395)
|
|
(9,046)
|
Impairment losses of
investments
|
1,297
|
|
32,298
|
|
17,592
|
|
2,551
|
|
33,654
|
|
78,461
|
|
11,376
|
Adjusted net (loss)
income (2)
|
(150,730)
|
|
25,706
|
|
(4,348)
|
|
(631)
|
|
(439,328)
|
|
(7,608)
|
|
(1,103)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income
attributable to DouYu
|
(249,725)
|
|
(2,971)
|
|
45,320
|
|
6,569
|
|
(581,883)
|
|
(75,423)
|
|
(10,936)
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses
|
33,262
|
|
2,698
|
|
-
|
|
-
|
|
132,139
|
|
66,741
|
|
9,677
|
Share of loss (income)
in equity method investments
|
7,937
|
|
(2,647)
|
|
(63,781)
|
|
(9,247)
|
|
15,128
|
|
(62,395)
|
|
(9,046)
|
Impairment losses of
investments
|
1,297
|
|
32,298
|
|
17,592
|
|
2,551
|
|
33,654
|
|
78,461
|
|
11,376
|
Adjusted net (loss)
income attributable to DouYu
|
(207,229)
|
|
29,378
|
|
(869)
|
|
(127)
|
|
(400,962)
|
|
7,384
|
|
1,071
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
net
(loss) income per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(6.35)
|
|
0.92
|
|
(0.03)
|
|
(0.00)
|
|
(12.32)
|
|
0.23
|
|
0.03
|
Diluted
|
(6.35)
|
|
0.92
|
|
(0.03)
|
|
(0.00)
|
|
(12.32)
|
|
0.23
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net (loss)
income per ADS(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.63)
|
|
0.09
|
|
(0.00)
|
|
(0.00)
|
|
(1.23)
|
|
0.02
|
|
0.00
|
Diluted
|
(0.63)
|
|
0.09
|
|
(0.00)
|
|
(0.00)
|
|
(1.23)
|
|
0.02
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ordinary shares used in calculating Adjusted net
(loss) income per ordinary share
|
Basic
|
32,636,774
|
|
31,966,417
|
|
32,023,641
|
|
32,023,641
|
|
32,544,878
|
|
31,971,245
|
|
31,971,245
|
Diluted
|
32,636,774
|
|
31,966,417
|
|
32,023,641
|
|
32,023,641
|
|
32,544,878
|
|
31,971,245
|
|
31,971,245
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of ADS used in calculating net (loss) income per
ADS(2)
|
Basic
|
326,367,743
|
|
319,664,172
|
|
320,236,412
|
|
320,236,412
|
|
325,448,779
|
|
319,712,449
|
|
319,712,449
|
Diluted
|
326,367,743
|
|
319,664,172
|
|
320,236,412
|
|
320,236,412
|
|
325,448,779
|
|
319,712,449
|
|
319,712,449
|
|
(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 RMB6.8972 to
US$1.00, the noon buying rate in effect on December 30, 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-fourth-quarter-and-full-year-2022-unaudited-financial-results-301775835.html
SOURCE DouYu International Holdings Limited