The following is a summary of the DouYu International Holdings Limited (DOYU) Q1 2024 Earnings Call Transcript:

Financial Performance:

• DouYu reported Q1 2024 total net revenues of RMB1.04 billion, a 29.9% decrease year-over-year.

• Livestreaming revenues were RMB0.8 billion, down 41.5% from RMB1.37 billion in Q1 2023.

• Advertising and other revenues increased by 109.3% to RMB238.8 million.

• Gross profit was RMB109.0 million, compared to RMB176.5 million in Q1 2023, with gross margin at 10.5%.

• Operating loss expanded to RMB166.9 million from an operating income of RMB27.3 million in the same quarter last year.

• Net loss was RMB88 million, compared to a net income of RMB14.5 million in Q1 2023.

Business Progress:

• DouYu focused on leveraging its strengths with game developers and optimizing its organizational structure.

• Broadcasted nearly 30 large-scale official tournaments, enhancing gaming event content.

• Implemented innovative operational strategies such as game prompt sales and a customer loyalty points system to improve user engagement.

• Upgraded the app's content categorization adding a tournaments category to elevate user experience and average viewing hours.

Opportunities:

• DouYu plans to significantly expand its collaboration approaches with game developers, focusing on game prompts sales and updating its game promotion model.

• Intends to grow its advertising and other revenues, with an expectation that the revenue share will exceed 20% in 2024.

Risks:

• The platform faces intense market competition, mainly from short video platforms impacting its MAUs.

• Soft macroeconomic conditions continue to pose risks affecting consumer spending and livestreaming revenue.

More details: DouYu IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.