DouYu International Holdings Limited (DOYU) CEO Shaojie Chen on Q1 2022 Results - Earnings Call Transcript

DouYu International Holdings Limited (NASDAQ:DOYU) Q1 2022 Earnings Conference Call May 18, 2022 7:00 AM ET

Company Participants

Lingling Kong - Investor Relations

Shaojie Chen - Chairman & Chief Executive Officer

Hao Cao - Vice President of Finance

Mingming Su - Chief Strategy Officer

Conference Call Participants

Lei Zhang - Bank of America Merrill Lynch

Thomas Chong - Jefferies

Yiwen Zhang - China Renaissance

Alex Poon - Morgan Stanley

Ritchie Sun - HSBC

Operator

Good morning and good evening, ladies and gentlemen. Thank you and welcome to DouYu International Holdings Limited's First Quarter 2022 Earnings Conference Call. At this time, all participants are in listen-only mode. We will be hosting a question-and-answer session after management's prepared remarks. Please note, today's event is being recorded.

I would now like to turn the call over to the first speaker today, Ms. Lingling Kong, IR Director at DouYu. Please go ahead, ma'am.

Lingling Kong

Thank you. Hello, everyone. Welcome to our first quarter 2022 earnings call. Joining us today are Mr. Shaojie Chen, Chairman and Chief Executive Officer; Mr. Mingming Su, Chief Strategy Officer; and Mr. Hao Cao, Vice President of Finance. You can refer to our first quarter 2022 financial results on our IR website at ir.douyu.com. You can also check a replay of this call when it becomes available in a few hours on our IR website.

Before we start, please note that this call may contain forward-looking statements made pursuant to the Safe Harbor provision for the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations that involve known and unknown risks, uncertainties and other factors not under the company's control, which may cause actual results performance or achievements of the company to be materially different from the results, performance or expectations implied by these forward-looking statements. All forward-looking statements are expressly qualified in their entirety by the cautionary statements, risk factors and details of the Company's filings with the SEC. The Company undertakes no duty to revise or update any forward-looking statements for selected events or circumstances after the date of this conference call.

I will now speak on behalf of our Chairman and CEO Mr. Shaojie Chen.

Shaojie Chen

During the first quarter, we continued the steady development of our core business, while adjusting our business operations and executing on our selective copyright procurement strategy. Mobile MAU for the quarter were 55.1 million. Total net revenues were RMB1.8 billion and quarterly average paying user accounts reached RMB6.4 million. Gross margin increased to 13.6%, demonstrating the effectiveness of our selective copyright procurement strategy.