DOYU - DouYu International Holdings Limited

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
+0.12 (+1.33%)
At close: 4:00PM EDT

9.20 +0.04 (0.44%)
After hours: 4:52PM EDT

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Previous Close9.04
Bid9.16 x 1100
Ask9.15 x 3100
Day's Range8.99 - 9.38
52 Week Range7.77 - 11.88
Avg. Volume2,951,080
Market Cap2.974B
Beta (3Y Monthly)N/A
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Trade prices are not sourced from all markets
  • China Video App Seeks Funds at $25 Billion Value Before IPO

    China Video App Seeks Funds at $25 Billion Value Before IPO

    (Bloomberg) -- Chinese startup Kuaishou is considering to a U.S. initial public offering to bankroll its expansion in short videos and fend off competition from TikTok-owner ByteDance Inc., according to people familiar with the matter.The company, backed by Tencent Holdings Ltd., plans to list next year, the people said, requesting not to be named because the matter is private. One person said Kuaishou also weighed the option of going public this year. The video startup is raising more than $1 billion at a $25 billion valuation in a pre-IPO round mostly from Tencent, one of the people said.Kuaishou is an important part of Chinese social media giant Tencent’s strategy to compete against ByteDance, now the world’s most valuable startup. Tencent has devoted a lot of resources toward building a library of short and mini video offerings -- key to retaining user attention and boosting advertising revenue -- but has yet to catch its rival.“Tencent’s biggest enemy is ByteDance right now,” said David Dai, a Hong Kong-based analyst at Bernstein. “Tencent hasn’t been very successful in short videos in the past, so resorting to investing in other companies instead is its best option.”U.S.-listed shares of some of Kuaishou’s competitors fell. Momo Inc. fell 2.8%, the most in more than a week, while DouYu International Holdings Ltd. fell 1.9%, the most in about a month. Both under-performed the Nasdaq, which rose 0.3%.Read more: Tencent Tumbles After China’s Slowdown, ByteDance Hit Ad SalesTencent President Martin Lau said during an August earnings call that short and mini videos would be a key vertical for expansion.Kuaishou or “fast hand” first established its popularity among users in China’s smaller cities and rural areas, with people streaming slices of everyday life from harvesting corn to slurping noodles. It’s also been luring users in bigger cities and expanding its content to include everything from people playing video games to teenagers lip-syncing songs.Kuaishou was seeking funds in January last year at a valuation of $17 billion. The eight-year-old company, which was valued at $3 billion in January 2015 by CB Insights, also counts Sequoia and Morningside Group Holdings as backers. It had 110 million daily active users as of December 2017, according to its website. Annie He, a spokeswoman for Kuaishou didn’t respond to requests for comment. Tencent declined to comment in an emailed statement.“Kuaishou is the only one that can still counter ByteDance now,” Dai said.(Updates with shares from the fifth paragraph and adds chart.)To contact the reporters on this story: Crystal Tse in Hong Kong at;Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at, ;Fion Li at, Colum Murphy, Edwin ChanFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • In Muddled Market, Here's a Way to 'Game' the System

    In Muddled Market, Here's a Way to 'Game' the System

    Consider this strategy for the recently public esports name DouYu, the largest live-streaming, game-centric platform for esports on mobile devices and other computers.

  • Game Over for China’s U.S. Tech IPOs?

    Game Over for China’s U.S. Tech IPOs?

    (Bloomberg Opinion) -- DouYu International Holdings Ltd. may have just hit the limit of foreign investor enthusiasm for China's burgeoning competitive video-gaming business.The eSports live-streaming provider has slumped since listing on Nasdaq in a $775 million initial public offering that was completed on July 16. DouYu finished unchanged on its trading debut after late buying erased a loss of 4.3%. Since then, the bears have reigned, with the stock down 8.7% from its IPO price as of Friday’s close.The negative sentiment is out of step with recent U.S. listings of Chinese companies. Of the 16 stocks from the nation that started trading on American exchanges so far this year, the median first-day gain is 16.6%, compared with 2.3% for all of 2018. Of the total, 63% rose on their debut versus 68% last year. The data indicate the U.S.-China trade war has had little impact on investor appetite in the IPO market.There were early signs of trouble for DouYu. The company delayed its plans to list in the U.S. in May amid the trade tensions. After spotting some blue sky between the clouds, DouYu and its bankers made another attempt this month and were able to get the transaction done – but only by pricing the shares at the bottom of the range. Competitive video-gaming is hot in China, with all the ingredients for further growth. Promotion of the industry has become government policy, as my colleague Shuli Ren noted last week. In days of yore, the chance to be part of a booming new Chinese business would be catnip to most investors. So DouYu didn’t appear to be a tough sell.The limp response shows that investors are getting more discerning. Huya Inc., one of DouYu’s closest competitors, listed 15 months ago and climbed 34% on its first day. The stock almost tripled in the first month of trading.While the businesses of DouYu and Huya are similar, their financials aren’t. When Huya listed in May last year it had just turned an operating profit for the first quarter. The company posted an operating margin of 3.3% on revenue of 843 million yuan ($123 million).DouYu is almost twice as big as Huya was then, at 1.49 billion yuan in revenue for the first three months of 2018. But its operating margin was minus-3.3%, a sign that this business may not have economies of scale. While sales more than doubled from a year earlier and the operating loss margin narrowed drastically, it seems some investors weren’t willing to wait around for profits to appear.They may also have been burned by Huya. The 2018 first-quarter profit looks to have been a fluke, with subsequent periods barely achieving even half the operating margin of that pre-IPO level. The stock’s mammoth early gains have mostly been wiped out, though Huya still trades 81% above its offer price.Also likely weighing on sentiment for DouYu is the decision by one founder and one early investor to cash out in the IPO, instead of waiting for a lockup period to expire, as is often the case. Stock sold by Co-CEO Zhang Wenming and Aodong Investments, a fund owned by angel investor Cai Dongqing, amounted to about one-third of all shares offered in the IPO. This kind of signalling doesn’t inspire confidence when you’re trying to tell investors that your unprofitable business will soon be a moneymaker.China’s eSports industry isn’t just a fad. As U.S. investors are learning, though, all games have winners and losers. To contact the author of this story: Tim Culpan at tculpan1@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at©2019 Bloomberg L.P.

  • DouYu Ends First Day at Its Offer Price in $775 Million IPO

    DouYu Ends First Day at Its Offer Price in $775 Million IPO

    (Bloomberg) -- Chinese video-game live-streaming platform DouYu International Holdings Ltd. ended flat in its trading debut after its $775 million U.S. initial public offering.Shares of the company, backed by Tencent Holdings Ltd., closed their first day of trading Wednesday at $11.50, the same price as when they were sold in its IPO on Tuesday.DouYu, which delayed its listing amid market jitters in May, sold 44.9 million American depository shares and its investors sold another 22.5 million. The shares, which which had been priced at the bottom of the marketed range, opened down 4.2% and never rose more than 0.4% on Wednesday.The offering, which valued DouYu at $3.73 billion, was the biggest cross-border listing from China since Tencent Music Entertainment Group raised $1.07 billion in its U.S. IPO in December.DouYu, one of China’s top two video-game live-streaming platforms, initially planned to start its IPO roadshow in May but postponed it following President Donald Trump’s threat to boost tariffs on China, people familiar with the matter said at the time. The Wuhan-based company had filed for its IPO on April 22, almost a year after its biggest competitor, Huya Inc., went public in the U.S.DouYu had net income of $2.7 million on revenue of $222 million in the first quarter, according to its filings with the U.S. Securities and Exchange Commission. That compared with a loss of about $23 million on revenue of $97 million during the same period last year.Existing investors that sold shares in the IPO included Aodong Investments and Co-Chief Executive Officer and co-founder Zhang Wenming, according to the company’s filings.Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp. and CMB International Capital Ltd. led the offering. The shares are trading on the Nasdaq Global Select Market under the symbol DOYU.(Updates with closing share price in second paragraph)\--With assistance from Crystal Tse.To contact the reporters on this story: Michael Hytha in San Francisco at;Yueqi Yang in New York at yyang492@bloomberg.netTo contact the editors responsible for this story: Polina Noskova at, ;Liana Baker at, Michael Hytha, Matthew MonksFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Tencent-Backed DouYu Fizzles On First Day Of Trading
    Investor's Business Daily

    Tencent-Backed DouYu Fizzles On First Day Of Trading

    China-based DouYu International failed to excite investors with its initial public offering that priced at the low end of its range. The livestreaming service raised $775 million in the IPO.

  • Reuters

    UPDATE 1-Tencent-backed live-streaming firm DouYu prices U.S. IPO at low end of range

    NEW YORK/HONG KONG, July 16 (Reuters) - DouYu International Holdings Ltd, China's largest live-streaming platform, on Tuesday said it sold $775 million in stock at a $3.73 billion valuation after pricing its U.S. initial public offering (IPO) at the bottom of an indicative range. DouYu, which is backed by Chinese social media and gaming giant Tencent Holdings Ltd, sold American depositary shares (ADS) at $11.5 each, compared with a previously stated target of $11.50 to $14.00, the firm said in a statement. The IPO was also a test of U.S. investor demand for Chinese stocks after Anheuser Busch InBev NV called off the Hong Kong listing of its Asia-Pacific brewing business due to weak orders from U.S. "long only" fund managers.

  • Tencent-Backed DouYu Looking To Raise $859 Million With IPO
    Investor's Business Daily

    Tencent-Backed DouYu Looking To Raise $859 Million With IPO

    The DouYu IPO, a spinoff of China internet giant Tencent Holdings, is scheduled to price shares for its initial public offering late Tuesday and trade Wednesday, raising about $859 million.

  • Benzinga

    IPO Outlook For The Week: Biotechs, Financial Advisers, Medical Services And The Twitch Of China

    For a more comprehensive IPO calendar, check out the offering in Benzinga Cloud . The IPO dates below are expected but not confirmed. Douyu International Holdings Ltd (DOYU) will issue nearly 67.4 million ...

  • Benzinga

    DouYu International IPO: What You Need To Know

    DouYu International (NASDAQ: DOYU ) has filed for offering 67.387 million American Depository Shares, representing 6.739 million ordinary shares in an IPO, to be priced between $11.50 and $14, according ...