DouYu reported total net revenues of RMB1,039.7 million in Q1 2024, down 29.9% YoY. The company recorded a net loss of RMB88.0 million, compared with net income of RMB14.5 million in Q1 2023. Livestreaming revenues decreased 41.5% to RMB800.9 million, while advertising and other revenues increased 109.3% to RMB238.8 million.The company voluntarily returned RMB111.7 million to government authorities related to certain third-party streamers' historical illegal activities, which was recorded as an operating expense. Average mobile MAUs decreased to 45.3 million from 50.2 million YoY, while quarterly average paying users declined to 3.4 million from 4.5 million.As of March 31, 2024, DouYu maintained a strong balance sheet with cash and deposits of RMB6,762.2 million. The company has repurchased US$2.7 million of ADSs under its US$20 million share repurchase program and renewed its strategic cooperation agreement with Tencent for another three years effective June 4, 2024.

DouYu reported total net revenues of RMB1,039.7 million in Q1 2024, down 29.9% YoY. The company recorded a net loss of RMB88.0 million, compared with net income of RMB14.5 million in Q1 2023. Livestreaming revenues decreased 41.5% to RMB800.9 million, while advertising and other revenues increased 109.3% to RMB238.8 million.The company voluntarily returned RMB111.7 million to government authorities related to certain third-party streamers' historical illegal activities, which was recorded as an operating expense. Average mobile MAUs decreased to 45.3 million from 50.2 million YoY, while quarterly average paying users declined to 3.4 million from 4.5 million.As of March 31, 2024, DouYu maintained a strong balance sheet with cash and deposits of RMB6,762.2 million. The company has repurchased US$2.7 million of ADSs under its US$20 million share repurchase program and renewed its strategic cooperation agreement with Tencent for another three years effective June 4, 2024.