$DOYU

DouYu International Holdings Ltd

CIK:0001762417|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	12 Months Ended
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Net revenues (include related party revenues of RMB62,849,416, RMB48,935,143 and RMB51,847,377 for the years ended December 31, 2023, 2024 and 2025, respectively)	¥ 3,818,851,679	$ 546,088,526	¥ 4,270,825,456	¥ 5,530,404,557
Cost of revenues (include related party cost of revenues of RMB667,324,933, RMB485,973,979 and RMB416,938,750 for the years ended December 31, 2023, 2024 and 2025, respectively)	(3,329,325,336)	(476,087,191)	(3,946,992,974)	(4,846,371,264)
Gross profit	489,526,343	70,001,335	323,832,482	684,033,293
Operating (expenses) income:
Sales and marketing expenses	(234,482,022)	(33,530,483)	(311,140,438)	(351,726,623)
General and administrative expenses	(137,656,630)	(19,684,636)	(204,428,800)	(237,755,845)
Research and development expenses	(121,058,278)	(17,311,103)	(181,676,080)	(276,935,538)
Other operating income (expenses), net	8,426,888	1,205,029	(200,174,118)	32,314,541
Impairment of goodwill \| ¥				(13,966,789)
Total operating expenses	(484,770,042)	(69,321,193)	(897,419,436)	(848,070,254)
(Loss) income from operations	4,756,301	680,142	(573,586,954)	(164,036,961)
Other (expenses) income, net	(67,314,858)	(9,625,897)	21,898,241	(52,873,716)
Interest income	64,330,349	9,199,118	263,052,300	284,982,128
Foreign exchange gain (loss), net	(517,288)	(73,971)	1,233,807	125,893
Income (loss) before income taxes and share of loss in equity method investments	1,254,504	179,392	(287,402,606)	68,197,344
Income tax expense	(28,408,570)	(4,062,372)	(15,406,551)	(1,068,958)
Share of loss in equity method investments	(1,927,859)	(275,680)	(4,001,129)	(31,610,752)
Net income (loss)	(29,081,925)	(4,158,660)	(306,810,286)	35,517,634
Net income (loss) attributable to ordinary shareholders of the Company	¥ (29,081,925)	$ (4,158,660)	¥ (306,810,286)	¥ 35,517,634
Net income (loss) per ordinary share attributable to ordinary shareholders
Basic (in dollars per share) \| (per share)	¥ (0.96)	$ (0.14)	¥ (9.95)	¥ 1.11
Diluted (in dollars per share) \| (per share)	¥ (0.96)	$ (0.14)	¥ (9.95)	¥ 1.11
Weighted average shares used in calculating net income (loss) per ordinary share
Basic (in shares)	30,178,859	30,178,859	30,832,271	31,977,665
Diluted (in shares)	30,178,859	30,178,859	30,832,271	31,977,665
Net income (loss)	¥ (29,081,925)	$ (4,158,660)	¥ (306,810,286)	¥ 35,517,634
Other comprehensive income (loss), net of nil tax:
Foreign currency translation adjustments	(42,854,121)	(6,128,058)	72,141,058	93,256,170
Comprehensive income (loss)	(71,936,046)	(10,286,718)	(234,669,228)	128,773,804
Comprehensive income (loss) attributable to the ordinary shareholders	¥ (71,936,046)	$ (10,286,718)	¥ (234,669,228)	¥ 128,773,804
ADS
Net income (loss) per ordinary share attributable to ordinary shareholders
Basic (in dollars per share) \| (per share)	¥ (0.96)	$ (0.14)	¥ (9.95)	¥ 1.11
Diluted (in dollars per share) \| (per share)	¥ (0.96)	$ (0.14)	¥ (9.95)	¥ 1.11
Weighted average shares used in calculating net income (loss) per ordinary share
Basic (in shares)	30,178,859	30,178,859	30,832,271	31,977,665
Diluted (in shares)	30,178,859	30,178,859	30,832,271	31,977,665

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities:
Net income (loss)	¥ (29,081,925)	$ (4,158,660)	¥ (306,810,286)	¥ 35,517,634
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation of property and equipment	1,916,747	274,091	6,285,907	6,014,868
Amortization of intangible assets	29,650,099	4,239,908	56,322,409	90,827,064
Operating lease expenses	10,928,009	1,562,684	14,501,864	24,187,908
Loss from the disposal of property and equipment	85,309	12,199	528,257	2,187,446
Provision (reversal) for allowance for credit losses	(2,909,475)	(416,049)	(1,944,636)	11,809,161
Share of loss in equity method investments	1,927,859	275,680	4,001,129	31,610,752
Fair value change in long-term investments	65,200,488	9,323,546	(40,628,028)
Impairment losses on investments	2,114,370	302,351	19,689,373	58,005,769
Impairment losses on other assets			13,742,897	12,755,822
Impairment of goodwill and intangible assets			61,679,245	13,966,789
Gain from disposal of investment in equity investees				(5,132,053)
Foreign exchange (gain) loss	517,288	73,971	(1,233,807)	(125,893)
Changes in operating assets and liabilities:
Accounts receivable	(25,617,744)	(3,663,289)	26,341,103	23,927,442
Prepayments	11,605,802	1,659,609	15,898,495	(10,364,572)
Other current assets	(16,781,501)	(2,399,723)	77,417,243	(16,200,082)
Other non-current assets	20,126,915	2,878,111	(15,542,056)	(52,099,252)
Amounts due from related parties	(17,426,110)	(2,491,901)	(5,180,912)	(32,868,136)
Accounts payable	54,946,560	7,857,253	(44,723,288)	(132,440,692)
Advances from customers	(2,132,492)	(304,943)	(8,467,070)	9,659,281
Accrued expenses and other current liabilities	(20,912,779)	(2,990,488)	(4,980,465)	(56,200,218)
Amounts due to related parties	(110,282,316)	(15,770,161)	(28,803,176)	(61,150,253)
Deferred revenue	(15,446,314)	(2,208,793)	(63,623,203)	21,246,496
Lease liabilities	(10,683,606)	(1,527,735)	(13,322,931)	(22,822,500)
Net cash used in operating activities	(52,254,816)	(7,472,339)	(238,851,936)	(47,687,219)
Cash flows from investing activities:
Proceeds on disposal of property and equipment	347,151	49,642	976,059	103,155
Purchases of property and equipment	(290,883)	(41,595)	(709,859)	(5,156,302)
Purchases of intangible assets	(1,498,898)	(214,340)	(12,411,832)	(11,146,423)
Purchases of short-term bank deposits	(575,301,000)	(82,266,949)	(2,990,374,400)	(1,778,550,000)
Purchases of long-term bank deposits				(760,000,000)
Proceeds from disposal of short-term bank deposits	3,528,507,441	504,569,853	1,757,680,000	2,868,625,000
Proceeds from disposal of long-term bank deposits	20,000,000	2,859,962	170,000,000	80,000,000
Proceeds from disposal of and return of investments	36,482	5,217	347,304	10,309,198
Repayment of loan from related parties				10,000,000
Cash provided by (used in) investing activities	2,971,800,293	424,961,790	(1,074,492,728)	414,184,628
Cash flows from financing activities
Return of capital to non-controlling interests				(965)
Dividend distributed to shareholders	(2,150,781,250)	(307,557,628)	(2,101,465,492)
Repurchase of ordinary shares			(105,509,037)
Cash used in financing activities	(2,150,781,250)	(307,557,628)	(2,206,974,529)	(965)
Effect of foreign exchange rate changes on cash and cash equivalents	(24,966,731)	(3,570,196)	48,740,158	94,834,375
Net increase (decrease) in cash, cash equivalents and restricted cash	743,797,496	106,361,627	(3,471,579,035)	461,330,819
Cash, cash equivalent and restricted cash at the beginning of the year	1,037,411,283	148,347,841	4,508,990,318	4,047,659,499
Cash, cash equivalent and restricted cash at the end of the year	1,781,208,779	254,709,468	1,037,411,283	4,508,990,318
Supplemental disclosure of cash flow information:
Income tax paid	28,358,914	4,055,271	10,285,869	436,767
Supplemental disclosure on non-cash investing and financing activities:
Accrued purchases of property and equipment				13,826
Accrued purchases of intangible assets	¥ 822,736	$ 117,650	¥ 896,226	¥ 45,754,717

CONSOLIDATED BALANCE SHEETS	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 1,759,126,853	$ 251,551,794	¥ 1,017,148,142
Restricted cash	34,931	4,995	83,387
Short-term bank deposits	502,501,754	71,856,795	3,070,374,400
Accounts receivable, net of allowance for credit loss of RMB17,725,683 and RMB14,816,208 as of December 31, 2024 and December 31, 2025, respectively	77,583,990	11,094,363	49,056,771
Prepayments	15,790,383	2,257,995	26,884,785
Amounts due from related parties	91,600,802	13,098,740	74,174,692
Other current assets	185,264,173	26,492,424	231,353,868
Total current assets	2,631,902,886	376,357,106	4,469,076,045
Property and equipment, net	5,039,863	720,691	7,093,429
Intangible assets, net	33,579,905	4,801,863	60,917,092
Long-term bank deposits			360,000,000
Investments (include the fair value measured investments of RMB76,929,667 and RMB11,062,659 as of December 31, 2024 and 2025, respectively)	383,683,224	54,865,971	456,814,694
Right-of-use assets	7,900,307	1,129,729	15,816,035
Other non-current assets	57,844,845	8,271,704	76,615,919
TOTAL ASSETS	3,119,951,030	446,147,064	5,446,333,214
Current liabilities: (include amounts of the consolidated VIEs without recourse to DouYu International Holdings Limited. See Note 2.2)
Accounts payable	554,131,285	79,239,720	498,667,437
Advances from customers	2,311,403	330,526	4,443,895
Deferred revenue	236,899,790	33,876,219	252,346,104
Accrued expenses and other current liabilities	218,920,812	31,305,260	242,517,101
Amounts due to related parties	112,306,534	16,059,621	222,588,850
Lease liabilities due within one year	6,702,853	958,495	11,457,877
Total current liabilities	1,131,272,677	161,769,841	1,232,021,264
Lease liabilities	1,306,423	186,816	4,222,724
TOTAL LIABILITIES	1,132,579,100	161,956,657	1,236,243,988
Commitments and contingencies (Note 19)
SHAREHOLDERS' EQUITY
Ordinary shares (US$0.0001 par value, 500,000,000 and 500,000,000 shares authorized, 30,178,859 shares issued and 30,178,859 shares outstanding as of December 31, 2024 and 2025, respectively)	20,360	2,911	20,360
Additional paid-in capital	5,363,717,087	767,001,342	7,514,498,337
Accumulated deficit	(3,820,899,394)	(546,381,346)	(3,791,817,469)
Accumulated other comprehensive income	444,533,877	63,567,500	487,387,998
Total DouYu International Holdings Limited Shareholders' equity	1,987,371,930	284,190,407	4,210,089,226
Total Shareholders' equity	1,987,371,930	284,190,407	4,210,089,226
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	¥ 3,119,951,030	$ 446,147,064	¥ 5,446,333,214