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DouYu International Holdings (DOYU) investor relations material

DouYu International Holdings Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary18 Aug, 2025

Executive summary

  • Net revenues rose 2.1% year-over-year to RMB1,053.9 million (US$147.1 million) in Q2 2025, driven by growth in innovative business lines despite a challenging macro environment.

  • Gross profit increased 68.5% year-over-year to RMB141.9 million, with gross margin expanding to 13.5% from 8.2% due to cost optimization.

  • Net income reached RMB37.8 million, a turnaround from a net loss of RMB49.2 million in Q2 2024; adjusted net income was RMB25.3 million.

  • Revenue diversification and cost efficiency strategies led to improved profitability and a more balanced revenue structure.

Financial highlights

  • Livestreaming revenues fell 26.9% year-over-year to RMB577.8 million, while innovative business, advertising, and other revenues surged 96.8% to RMB476.1 million.

  • Cost of revenues decreased 3.8% year-over-year to RMB912.0 million, with revenue-sharing fees and content costs down 9.5%.

  • Bandwidth costs dropped 38.9% year-over-year to RMB48.6 million, reflecting efficiency improvements.

  • Sales and marketing, R&D, and G&A expenses declined 20.0%, 44.9%, and 17.9% year-over-year, respectively.

  • Basic and diluted net income per ADS was RMB1.25 (US$0.17); adjusted per ADS was RMB0.84 (US$0.12).

Outlook and guidance

  • Management expects the livestreaming industry to remain complex and volatile in the second half of 2025 but is prepared to continue executing cost and revenue diversification strategies.

  • Focus remains on enhancing user experience, optimizing cost efficiency, and sustaining platform and content ecosystem development.

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Q3 202519 Nov, 2025
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Frequently asked questions

DouYu International Holdings Limited is a leading game-centric live streaming platform in China. The company primarily offers interactive and immersive live streaming services focused on gaming and e-sports. Users can watch live streaming of popular games, interact with streamers, and participate in e-sports events. The company is headquartered in Wuhan, China, and its shares are listed on the NASDAQ.

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