Core Insights - DouYu International Holdings Limited reported its unaudited financial results for Q4 and the full year of 2024, highlighting a stable business position despite macroeconomic challenges [1][3]. Financial Performance - Total net revenues for Q4 2024 decreased by 12.3% to RMB1,136.0 million (US155.6million)comparedtoRMB1,296.0millioninQ42023[4][15].−LivestreamingrevenuesinQ42024fellby28.4100.1 million) from RMB1,020.8 million in the same period of 2023, attributed to a decline in both paying users and average revenue per paying user [5][15]. - Innovative business, advertising, and other revenues increased by 47.2% to RMB405.1 million (US55.5million)inQ42024,drivenbyhigherrevenuesfromvoice−basedsocialnetworkingandgamemembershipservices[6][15].−Forthefullyear2024,totalnetrevenueswereRMB4,270.8million(US585.1 million), down from RMB5,530.4 million in 2023 [18][15]. Profitability Metrics - Gross profit for Q4 2024 was RMB69.8 million (US9.6million),downfromRMB126.2millioninQ42023,withagrossmarginof6.122.4 million), compared to a net loss of RMB62.2 million in Q4 2023 [14][15]. - For the full year 2024, the net loss was RMB297.4 million (US40.8million),asignificantdeclinefromanetincomeofRMB35.5millionin2023[20][15].UserEngagement−Averagemobilemonthlyactiveusers(MAUs)inQ42024were44.5million,downfrom51.7millioninQ42023[15].−ThenumberofquarterlyaveragepayingusersinQ42024was3.3million,comparedto3.7millioninthesameperiodof2023[15].StrategicInitiatives−Thecompanyplanstofocusonrevenuediversificationandcost−efficiencyinitiativesin2025,includingoptimizingthecoststructureoftraditionalbusinessesandleveragingAIforoperationalefficiency[3][3].−DouYudeclaredaspecialcashdividendofUS300 million in January 2025, reinforcing its commitment to financial stability and shareholder returns [3][3]. Cash Position - As of December 31, 2024, the company had cash and cash equivalents of RMB4,467.8 million (US$612.1 million), down from RMB6,855.5 million as of December 31, 2023, primarily due to the special cash dividend distribution [22][15].