DouYu International Holdings Limited (NASDAQ:DOYU) Q2 2023 Results Conference Call August 14, 2023 7:00 AM ET

Company Participants

Lingling Kong - IR Director

Shaojie Chen - Chairman and Chief Executive Officer

Mingming Su - Chief Strategy Officer

Hao Cao - Vice President of Finance

Conference Call Participants

Lei Zhang - Bank of America Securities

Thomas Chong - Jefferies

Henry Sun - JPMorgan

Raphael Chen - BOCI Research

Cathy Tang - Morgan Stanley

Operator

Good morning and good evening, ladies and gentlemen. Thank you, and welcome to DouYu International Holdings Limited Second Quarter 2023 Earnings Conference Call [Operator Instructions].

I will now 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 second quarter 2023 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 second quarter 2023 financial results on our IR Web site 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 statement, 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

In the second quarter of 2023, the company's top priority was to foster a healthy ecosystem across our game-centric community. We stepped up the production of premium content to diversify our content metrics and enrich interactions across the community. We also heightened the importance of content management and strengthened the content review procedures on our platform. By ensuring the health of our ecosystem, we have solidified the foundation for our strategic long-term sustainable growth. On the operations side, we placed heavy emphasis on improving the quality of our users. We actively refined our monetization and marketing strategies and deepened our cooperation with game developers, with a focus on refining how we promote new games and their operations. The combination of these adjustments supports the overall stability of our business operations, healthy user metrics, and promote our improved profitability. In the second quarter, our mobile MAUs were 50.3 million. Quarterly average paying users were 4 million. And our adjusted net income was RMB61.4 million, surging 138% quarter-over-quarter.