The company will continue to enrich its tailor-made content in livestreaming, videos, graphics, and interactive communities, as well as enhancing its monetization capabilities.
DouYu International Holdings Limited (hereinafter as DouYu) (DOYU:NASDAQ), one of China's leading game-centric livestreaming platforms, released its unaudited financial results for the second quarter ended June 30, 2022.
It documented a drop of 21.6% in total net revenue to CNY 1,833.2 million (USD 273.7 million), compared with CNY 2,336.8 million in the same period of 2021. Among which, revenues from livestreaming and advertising in the second quarter of 2022 were CNY 1768.3 million and CNY 64.9 million, respectively.
Net loss in the second quarter of 2022 was CNY 38.8 million, compared with CNY 181.7 million in the same period of 2021.
Gross profit in Q2 was CNY 309.0 million, unchanged from the same period before. While the gross margin showed a slight upward trend, improving to 16.9% from 13.1% 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.
From the operating side, Mr. Shaojie Chen, Chief Executive Officer of DouYu, commented that the company had achieved substantial progress in Q2, with 55.7 million average mobile monthly active users (MAUs) and 6.6 million quarterly average paying users. However, these two figures all narrowed slightly when compared with the same period in 2021.
Featuring in eSports value chain, Douyu generated a turnaround in adjusted net profit in the second quarter of 2022, reaching CNY 23.5 million, compared with adjusted net loss of CNY 145.1 million in the same period of 2021.
"Looking ahead, we remain focused on enhancing our monetization capabilities and developing our operating model to improve operating efficiency as we strive to deliver long-term value to our shareholders," added Mr. Hao Cao, Vice President of DouYu.
DouYu was initially a livestream department in Acfun, a Chinese ACGN video-sharing website. The Wuhan-based company has been invested by Sequoia China, Tencent Holdings, CMBI and so on.
Its domestic competitors include Bilibili Inc (BILI: NASDAQ), Huya Inc. (HUYA: NYSE) and Kuaishou Technology (1024: HK).