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Dou Yu International Holdings Limited Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results
DOYUDouYu(DOYU) Prnewswire·2025-03-14 09:00

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].−LivestreamingrevenuesinQ42024fellby28.4155.6 million) compared to RMB1,296.0 million in Q4 2023 [4][15]. - Livestreaming revenues in Q4 2024 fell by 28.4% to RMB730.9 million (US100.1 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(US55.5 million) in Q4 2024, driven by higher revenues from voice-based social networking and game membership services [6][15]. - For the full year 2024, total net revenues were RMB4,270.8 million (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,withagrossmarginof6.19.6 million), down from RMB126.2 million in Q4 2023, with a gross margin of 6.1% compared to 9.7% in the same period of 2023 [10][15]. - The net loss for Q4 2024 was RMB163.7 million (US22.4 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].−DouYudeclaredaspecialcashdividendofUS40.8 million), a significant decline from a net income of RMB35.5 million in 2023 [20][15]. User Engagement - Average mobile monthly active users (MAUs) in Q4 2024 were 44.5 million, down from 51.7 million in Q4 2023 [15]. - The number of quarterly average paying users in Q4 2024 was 3.3 million, compared to 3.7 million in the same period of 2023 [15]. Strategic Initiatives - The company plans to focus on revenue diversification and cost-efficiency initiatives in 2025, including optimizing the cost structure of traditional businesses and leveraging AI for operational efficiency [3][3]. - DouYu declared a special cash dividend of US300 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].