DouYu International Holdings Limited ("DouYu" or the "Company") (NASDAQ:DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced its unaudited financial results for the second quarter ended June 30, 2025.

Second Quarter 2025 Operational Highlights

In the second quarter, average mobile MAUs[2] of our livestreaming-related business were 36.4 million, down 11.4% year-over-year, which aligns with our content cost optimization strategy. This decline was largely due to fewer official tournament broadcasts and a reduction in related derivative content offerings on the platform.

• In the second quarter, the number of quarterly average paying users[3] for livestreaming-related business was 2.8 million, with a quarterly ARPPU of RMB255. Compared with 2.9 million paying users in the first quarter, the slight sequential decline in paying users was mainly due to sustained weakness in consumer spending amid prevailing macro conditions, as well as adjustments in our operational strategies, including the scaling back of low-ROI operational activities and a reduction in content offerings.
• In the second quarter, revenues from our voice-based social networking business reached RMB295.8 million. We continued to refine our application products and optimize traffic distribution strategies, maintaining a consistent revenue performance sequentially. Our average MAUs for voice-based social networking business for the second quarter were 462,800, with monthly average paying users[4] of 81,000.