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Bupa Hong Kong Connects More Customers to Flexible and Affordable Outpatient Care with Blua Health Pass

By
Advertorial Desk
-

Blua Health Pass promotes everyday wellness by making outpatient care more accessible across digital and in-person touchpoints, under Bupa’s commitment to Together for Your Health


HONG KONG SAR – Media OutReach Newswire – 18 August 2025 – To more effectively meet the evolving needs of healthcare customers in Hong Kong, Bupa Hong Kong is now launching Blua Health Pass, a subscription-based outpatient healthcare solution designed to deliver accessible local care. This programme empowers individuals to take control of their health with ease, flexibility and affordability.

Bupa Hong Kong Connects More Customers to Flexible and Affordable Outpatient Care with Blua Health Pass

With plans starting at just HK$250, Blua Health Pass connects customers to preventative care that meets the everyday wellness needs of today’s workforce and health-conscious individuals.

Developed to provide greater choice, Blua Health Pass offers seamless access to a wide range of outpatient services across digital and physical touchpoints—making it even more convenient to book appointments with general practitioners, specialists, Traditional Chinese Medical practitioners and physiotherapists. Customers can also track health progress, complete health missions and receive wellness recommendations available through the Blua Health app.

Blua Health, Hong Kong’s leading one-stop AI-powered mobile app, offers a range of digitally-enabled services including video consultations and ePharmacy¹, rewards for health missions, insurance management², and claims and other results review.

Three New Plans to Support Everyday Healthcare Needs

Blua Health Pass³ offers three levels of protection, with exclusive rates of up to 67% on standard service fees at around 380 service points and more than 20 specialties across Hong Kong. Customers can take advantage of priority eBooking on the Blua Health App for less wait time, AI-powered health assessments, digital prescription ordering and healthy living rewards. The three plans include:

  • Blua Health Pass Lite, priced at HK$250, is ideal for individuals exploring Bupa’s network healthcare services.
  • Moving up, the Blua Health Pass Plus is available for HK$780 per year, catering to those who seek more frequent healthcare interactions, providing greater access and savings on a variety of services.
  • The most comprehensive offering is the Blua Health Pass Flex, which costs HK$1,800 annually. This premium option is intended for individuals requiring broad and frequent access to outpatient care. Subscribers to the Flex plan can enjoy up to 15 outpatient visits per year, with co-payments ranging from HK$60 to HK$120. The plan covers a wide range of services, including general practice and specialist consultations, physiotherapy, Traditional Chinese Medicine, as well as diagnostic imaging, lab tests, vaccinations, and more.

Yuman Chan, General Manager of Bupa Insurance Business in Hong Kong, said, “Blua Health Pass helps to fill the outpatient medical needs for individuals without comprehensive insurance: whether they are freelancing, working for a startup, retired, or simply seeking an easier and more affordable way to access everyday care. Members can also stay in control of their healthcare management anytime, anywhere, and fully harness technology to integrate health into everyday life whilst making preventative care more affordable.”

Sign up for your preferred Blua Health Pass on Blua Health App today. Click this link to subscribe in just five minutes and begin enjoying accessible local care, priority in outpatient appointment bookings and exclusive rates: https://bluahealth.app.link/home

¹Video consultation and ePharmacy features are provided by our medical service provider.

²Insurance management services are offered through myBupa feature of Blua Health. myBupa is offered, distributed and operated by Bupa (Asia) Limited. Blua Health is not a licensed insurance agent of Bupa (Asia) Limited, nor does it represent Bupa to conduct any insurance activities. The fact that Blua Health provides myBupa feature does not constitute and should not be construed as Blua Health conducting any Regulated Activities as defined by the Insurance Ordinance, Chapter 41 of the Laws of Hong Kong, or any insurance activities.

³Blua Health Pass is a subscription-based membership scheme offered, distributed and operated by Blua (Asia) Services Limited, a company registered in Hong Kong under the Bupa Group. Blua Health Pass is not an insurance product. Terms and conditions apply. Please refer to our product leaflet for more details.

Hashtag: #Bupa #BupaHongKong #保柏 #保柏香港 #BluaHealthPass #BluaHealth通行證 #healthcare #日常保健

The issuer is solely responsible for the content of this announcement.

Bupa – An international health insurance specialist

Established in 1947, Bupa’s purpose is helping people live longer, healthier, happier lives and making a better world. We are an international healthcare company serving over 60 million customers worldwide. With no shareholders, we reinvest profits into providing more and better healthcare for the benefit of current and future customers. Bupa has businesses around the world, principally in Australia, the UK, Spain, Poland, Chile, Hong Kong SAR, India, Türkiye, Brazil, Mexico and New Zealand. We also have associate businesses in Saudi Arabia.

Bupa has been a health insurance specialist in Hong Kong since 1976, offering one-stop solutions across domestic and international health insurance, and healthcare services. Our comprehensive medical insurance schemes are tailored to meet individual needs, and we provide health solutions for companies of all sizes. We also have a team of registered nurses, health management professionals, and doctors who provide various expert healthcare support.

Our healthcare provision arm, Quality HealthCare Medical Services (QHMS), became part of Bupa in October 2013. QHMS offers Western Medicine, Traditional Chinese Medicine, Diagnostics & Imaging, Dental, Physiotherapy, Mental Health and Wellness services via a network of over 1,650 provider service points in Hong Kong.

For more information, visit .

DouYu International Holdings Limited Reports Second Quarter 2025 Unaudited Financial Results

By
Advertorial Desk
-

WUHAN, China, Aug. 18, 2025 /PRNewswire/ — 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 Financial Highlights

  • Total net revenues in the second quarter of 2025 were RMB1,053.9 million (US$147.1 million), an increase of 2.1% from RMB1,032.0 million in the same period of 2024.
  • Gross profit in the second quarter of 2025 was RMB141.9 million (US$19.8 million), an increase of 68.5% from RMB84.2 million in the same period of 2024.
  • Income from operations in the second quarter of 2025 was RMB14.2 million (US$2.0 million), compared with a loss from operations of RMB119.6 million in the same period of 2024.
  • Net income in the second quarter of 2025 was RMB37.8 million (US$5.3 million), compared with a net loss of RMB49.2 million in the same period of 2024.
  • Adjusted net income (non-GAAP)[1] in the second quarter of 2025 was RMB25.3 million (US$3.5 million), compared with an adjusted net loss (non-GAAP) of RMB45.5 million in the same period of 2024.

Ms. Simin Ren, Co-Chief Executive Officer of DouYu, commented, “Against the backdrop of a volatile macro environment and intensifying industry competition, we remained focused on advancing our revenue diversification and cost efficiency strategies. During the quarter, we continued to optimize our live-streaming business, while also advancing monetization of our innovative business lines through expanded industry collaborations and upgraded promotion strategies. Seasonal promotions drove a 24.5% quarter-over-quarter increase in revenue from our Innovative business, advertising and others segment, underscoring our strong execution. Looking ahead, we will continue to enhance user experience and optimize cost efficiency as we navigate the evolving macro conditions. We remain dedicated to offering premium products such as gaming tournaments and entertainment events, while ensuring the sustainable development of our platform and content ecosystem.”

Mr. Hao Cao, Vice President of DouYu, commented, “In the second quarter, our game membership program and voice-based social networking business continued to demonstrate healthy momentum, further diversifying our revenue structure. Revenues from Innovative businesses, advertising and others rose to RMB476.1 million and accounted for 45.2% of total revenue, compared with 23.4% in the same period last year. In addition, total revenue for the quarter grew 2.1% year-over-year to RMB1.05 billion. Our effective cost efficiency initiatives also drove a return to profitability for the quarter, with gross margin expanding to 13.5%. Net profit reached RMB37.8 million and adjusted net profit was RMB25.3 million, marking a meaningful turnaround. While we expect the livestreaming industry to grow more complex and volatile in the second half of the year, we are well prepared and will continue executing our strategies with discipline and consistency to address the challenges ahead.”

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.

Second Quarter 2025 Financial Results

Total net revenues in the second quarter of 2025 increased by 2.1% to RMB1053.9 million (US$147.1 million), compared with RMB1,032.0 million in the same period of 2024.

Livestreaming revenues in the second quarter of 2025 decreased by 26.9% to RMB577.8 million (US$80.7 million) from RMB790.1 million in the same period of 2024. The decrease was primarily due to decreases in both the number of total paying users and average revenue per paying user, as a result of fewer low-ROI operating activities and content offered in the quarter and continued moderation in the operating environment.

Innovative business, advertising and other revenues (formerly known as advertising and other revenues) in the second quarter of 2025 increased by 96.8% to RMB476.1 million (US$66.5 million) from RMB242.0 million in the same period of 2024. The increase was primarily driven by higher revenues from our voice-based social networking service and game membership service.

Cost of revenues in the second quarter of 2025 decreased by 3.8% to RMB912.0 million (US$127.3 million) from RMB947.8 million in the same period of 2024.

Revenue-sharing fees and content costs in the second quarter of 2025 decreased by 9.5% to RMB727.3 million (US$101.5 million) from RMB803.4 million in the same period of 2024. The decrease was primarily driven by a significant reduction in content costs as part of our cost structure optimization efforts, as well as a decrease in revenue-sharing fees due to lower livestreaming revenues. The decrease was partially offset by increased revenue-sharing fees related to revenue growth in our voice-based social networking service.

Bandwidth costs in the second quarter of 2025 decreased by 38.9% to RMB48.6 million (US$6.8 million) from RMB79.6 million in the same period of 2024. The decline was primarily due to our bandwidth allocation advancement and a year-over-year decrease in peak bandwidth usage.

Gross profit in the second quarter of 2025 increased by 68.5% to RMB141.9 million (US$19.8 million) from RMB84.2 million in the same period of 2024. The increase in gross profit was primarily driven by decreases in our content costs and bandwidth costs. Gross margin in the second quarter of 2025 was 13.5%, compared with 8.2% in the same period of 2024.

Sales and marketing expenses in the second quarter of 2025 decreased by 20.0% to RMB61.6 million (US$8.6 million) from RMB77.0 million in the same period of 2024. The decrease was mainly attributable to reductions in staff-related and promotion-related expenses.

Research and development expenses in the second quarter of 2025 decreased by 44.9% to RMB27.6 million (US$3.9 million) from RMB50.1 million in the same period of 2024. The decrease was mainly attributable to a decrease in staff-related expenses.

General and administrative expenses in the second quarter of 2025 decreased by 17.9% to RMB39.8 million (US$5.6 million) from RMB48.5 million in the same period of 2024. The decrease was mainly attributable to reductions in staff-related expenses and professional fees.

Income from operations in the second quarter of 2025 was RMB14.2 million (US$2.0 million), compared with a loss from operations of RMB119.6 million in the same period of 2024.

Net income in the second quarter of 2025 was RMB37.8 million (US$5.3 million), compared with a net loss of RMB49.2 million in the same period of 2024.

Adjusted net income (non-GAAP), which excludes net income excluding share of loss in equity method investments and impairment losses and fair value adjustments on investments, was RMB25.3 million (US$3.5 million) in the second quarter of 2025, compared with an adjusted net loss (non-GAAP) of RMB45.5 million in the same period of 2024.

Basic and diluted net income per ADS[5] in the second quarter of 2025 were both RMB1.25 (US$0.17).

Adjusted basic and diluted net income per ADS (non-GAAP) in the second quarter of 2025 were both RMB0.84 (US$0.12).

Cash and cash equivalents, restricted cash and bank deposits

As of June 30, 2025, the Company had cash and cash equivalents, restricted cash, restricted cash in other non-current assets, and short-term and long-term bank deposits of RMB2,311.2 million (US$322.6 million), compared with RMB4,467.8 million as of December 31, 2024. The decrease was primarily due to a special cash dividend distribution of US$300 million in February 2025.

[1] “Adjusted net income (non-GAAP)” is defined as net income excluding share of income (loss) in equity method investments, impairment losses and fair value adjustments on investments, and impairment losses of goodwill and intangible assets. For more information, please refer to “Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” at the end of this press release.

[2] “MAUs” refers to the number of active mobile users (exclusive of innovative business unless the context otherwise indicates) in a given period. Average mobile MAUs for a given period is calculated by dividing (i) the sum of active mobile users for each month of such period, by (ii) the number of months in such period.

[3] “Quarterly average paying users” refers to the average paying users for each quarter during a given period of time calculated by dividing (i) the sum of paying users for each quarter of such period, by (ii) the number of quarters in such period. “Paying user” refers to a registered user that has purchased virtual gifts on our platform at least once during the relevant period.

[4] “Monthly average paying users” refers to the monthly average number of paying users during a given period of time calculated by dividing (i) the sum of paying users in each month of such period, by (ii) the number of months in such period. “Paying user” refers to a registered user that has purchased virtual gifts on our platform at least once during the relevant period.

[5] Each ADS represents one ordinary share for the relevant period and calendar year.

 

About DouYu International Holdings Limited

Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic content, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through the integration of livestreaming, video, graphics, and virtual communities with a primary focus on games. This enables DouYu to continuously enhance its user experience and pursue long-term healthy development. For more information, please see http://ir.douyu.com.

Use of Non-GAAP Financial Measures

Adjusted (loss) income from operations is calculated as (loss) income from operations adjusted for Impairment of goodwill and intangible assets. Adjusted net (loss) income is calculated as net (loss) income adjusted for share of income (loss) in equity method investments, impairment losses and fair value adjustments on investments and impairment losses of goodwill and intangible assets. Adjusted net (loss) income attributable to DouYu is calculated as net (loss) income attributable to DouYu adjusted for share of income (loss) in equity method investments, impairment losses and fair value adjustments on investments, and impairment losses of goodwill and intangible assets. Adjusted basic and diluted net (loss) income per ordinary share is non-GAAP net (loss) income attributable to ordinary shareholders divided by the weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net (loss) income per ordinary share. The Company adjusted the impact of (i) share of income (loss) in equity method investments, (ii) impairment losses and fair value adjustments on investments, and (iii) impairment losses of goodwill and intangible assets to understand and evaluate the Company’s core operating performance.The non-GAAP financial measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to their most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with U.S. GAAP.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized, or settled in U.S. dollars, at that rate on June 30, 2025, or at any other rate.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s results of operations and financial condition; the Company’s business strategies and plans; general market conditions, in particular, the game live streaming market; the ability of the Company to retain and grow active and paying users; changes in general economic and business conditions in China; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

Chenyang Yan                                   

DouYu International Holdings Limited

Email: ir@douyu.tv 

Tel: +86 (10) 6508-0677

 

Andrea Guo

Piacente Financial Communications

Email: douyu@tpg-ir.com 

Tel: +86 (10) 6508-0677

 

In the United States:

Brandi Piacente

Piacente Financial Communications

Email: douyu@tpg-ir.com 

Tel: +1-212-481-2050

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share, ADS, per share and per ADS data)

As of December 31

As of June 30

2024

2025

2025

ASSETS

RMB 

RMB

US$ (1)

Current assets:

Cash and cash equivalents

1,017,148

1,535,924

214,407

Restricted cash

83

170

24

Short-term bank deposits

3,070,374

583,723

81,485

Accounts receivable, net

49,057

55,488

7,746

Prepayments

26,885

24,768

3,457

Amounts due from related parties

74,175

65,181

9,099

Other current assets, net

231,354

234,957

32,799

Total current assets

4,469,076

2,500,211

349,017

 

Non-current assets:

Property and equipment, net

7,093

5,635

787

Intangible assets, net

60,917

45,194

6,309

Long-term bank deposits

360,000

160,000

22,335

Investments

456,815

409,885

57,218

Right-of-use assets, net

15,816

13,064

1,824

Other non-current assets

76,616

76,068

10,619

Total non-current assets

977,257

709,846

99,092

TOTAL ASSETS

5,446,333

3,210,057

448,109

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

LIABILITIES

Current liabilities:

Accounts payable

498,667

482,746

67,389

Advances from customers

4,444

3,293

460

Deferred revenue

252,346

244,029

34,065

Accrued expenses and other current liabilities

242,517

228,077

31,837

Amounts due to related parties

222,589

234,529

32,739

Lease liabilities due within one year

11,458

12,132

1,694

Total current liabilities

1,232,021

1,204,806

168,184

 

Non-current liability:

Lease liabilities

4,223

220

31

Total non-current liability

4,223

220

31

TOTAL LIABILITIES

1,236,244

1,205,026

168,215

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the
H.10 statistical release of the Federal Reserve Board.

 

 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except share, ADS, per share and per ADS data)

As of December 31

As of June 30

2024

2025

2025

RMB 

RMB 

US$ (1)

SHAREHOLDERS’ EQUITY

Ordinary shares

20

20

3

Additional paid-in capital

7,514,498

5,363,717

748,746

Accumulated deficit

(3,791,817)

(3,833,600)

(535,149)

Accumulated other comprehensive income

487,388

474,894

66,294

Total DouYu Shareholders’ Equity

4,210,089

2,005,031

279,894

Total Shareholders’ Equity

4,210,089

2,005,031

279,894

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

5,446,333

3,210,057

448,109

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the
H.10 statistical release of the Federal Reserve Board.

 

 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) 

(All amounts in thousands, except share, ADS, per share and per ADS data)

Three Months Ended

Six Months Ended

June 30,

2024

March 31,

2025

June 30,

2025

June 30,

2025

June 30,

2024

June 30,

2025

June 30,

2025

RMB

RMB

RMB

US$ (1)

RMB

RMB

US$ (1)

Net revenues

1,032,041

947,051

1,053,915

147,121

2,071,725

2,000,966

279,324

Cost of revenues

(947,823)

(833,543)

(911,975)

(127,307)

(1,878,501)

(1,745,518)

(243,665)

Gross profit

84,218

113,508

141,940

19,814

193,224

255,448

35,659

Operating (expense) income

Sales and marketing expenses

(76,963)

(72,929)

(61,585)

(8,597)

(152,533)

(134,514)

(18,777)

General and administrative expenses

(48,496)

(35,787)

(39,816)

(5,558)

(91,293)

(75,603)

(10,554)

Research and development expenses

(50,135)

(32,749)

(27,611)

(3,854)

(104,285)

(60,360)

(8,426)

Other operating (expense) income, net

(28,189)

1,815

1,318

184

(131,617)

3,133

437

Total operating expenses

(203,783)

(139,650)

(127,694)

(17,825)

(479,728)

(267,344)

(37,320)

(Loss) income from operations

(119,565)

(26,142)

14,246

1,989

(286,504)

(11,896)

(1,661)

Other (expenses) income, net

(943)

(58,554)

9,463

1,321

(943)

(49,091)

(6,853)

Interest income

75,972

10,141

19,200

2,680

157,066

29,341

4,096

Foreign exchange income (loss)

604

258

(17)

(2)

757

241

34

(Loss) income before income taxes and share of loss
   in equity method investments

(43,932)

(74,297)

42,892

5,988

(129,624)

(31,405)

(4,384)

Income tax expense

(2,510)

(5,134)

(8,151)

(1,138)

(2,510)

(13,285)

(1,855)

Share of (loss) income in equity method investments

(2,727)

(181)

3,088

431

(4,988)

2,907

406

Net (loss) income 

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Net (loss) income attributable to ordinary 

shareholders of the Company

 

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Net (loss) income per ordinary share

Basic

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Diluted

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Net (loss) income per ADS(2)

Basic

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Diluted

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Weighted average number of ordinary shares used in calculating net (loss) income per ordinary share

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Weighted average number of ADS used in calculating net (loss) income per ADS(2)

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translations
from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the
Federal Reserve Board.

(2) Each ADS represents one ordinary share.

 

 

 

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share, ADS, per share and per ADS data)

Three Months Ended

Six Months Ended

June 30,

2024

March 31,

2025

June 30,

2025

June 30,

2025

June 30,

2024

June 30,

2025

June 30,

2025

RMB

RMB

RMB

US$ (1)

RMB

RMB

US$ (1)

(Loss) income from operations

(119,565)

(26,142)

14,246

1,989

(286,504)

(11,896)

(1,661)

Adjusted operating (loss) income (non-GAAP)

(119,565)

(26,142)

14,246

1,989

(286,504)

(11,896)

(1,661)

Net (loss) income

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Add:

Share of income (loss) in equity method investments

2,727

181

(3,088)

(431)

4,988

(2,907)

(406)

Impairment losses and fair value adjustments on
investments (2)

943

58,554

(9,463)

(1,321)

943

49,091

6,853

Adjusted net (loss) income (non-GAAP)

(45,499)

(20,877)

25,278

3,529

(131,191)

4,401

614

Net (loss) income attributable to DouYu

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Add:

Share of income (loss) in equity method investments

2,727

181

(3,088)

(431)

4,988

(2,907)

(406)

Impairment losses and fair value adjustments on
investments

943

58,554

(9,463)

(1,321)

943

49,091

6,853

Adjusted net (loss) income attributable to DouYu

(45,499)

(20,877)

25,278

3,529

(131,191)

4,401

614

Adjusted net (loss) income per ordinary share (non-GAAP)

Basic

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Diluted

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Adjusted net (loss) income per ADS(3)(non-GAAP)

 

Basic

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Diluted

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Weighted average number of ordinary shares used in calculating Adjusted net (loss) income per ordinary share

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Weighted average number of ADS used in calculating net (loss) income per ADS(2) 

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical
release of the Federal Reserve Board.

(2) Impairment losses and fair value adjustments on investments were included in line item “Other expenses, net” of condensed consolidated statements of
income (loss).

(3) Each ADS represents one ordinary share.

 

INFLUENTIAL BRANDS AWARDS CELEBRATES 14 YEARS RECOGNISING BRAND LEADERSHIP, WORKPLACE EXCELLENCE, SUSTAINABILITY AND VISIONARY LEADERSHIP IN ASIA

By
Advertorial Desk
-

SINGAPORE, Aug. 18, 2025 /PRNewswire/ — To be held in Singapore in March 2026, Influential Brands® will celebrate its 14th Anniversary recognising business leadership in Asia. This special occasion will gather prominent brands, employers and companies that are taking the lead on branding, employer and sustainability excellence. A special segment will be placed for the Top CEO award that will recognise business leaders forging the path for their business’s success. 

With an awardee portfolio of over 500 of the most influential companies in Asia, Influential Brands® is widely recognised as the catalyst of growth that celebrates the “Champions of Excellence” and fosters business opportunities among the best companies in Asia.

Influential Brands®, headquartered in Singapore, follows an award criteria based on quantitative and qualitative market research to understand consumers’ preferences, employees’ expectations and sustainability requirements as part of the process to identify the awardees.

Mr Jorge Rodriguez, Managing Director of Influential Brands® said, “We are honoured to be the award platform of choice adopted by some of the most progressive companies in Asia.

Their testimonials reflect the positive impact we make in their business, and we thank them for their trust on us. Our community comprises of the most reputable companies in Asia including AirAsia (Malaysia), Bangkok Bank (Thailand), BYD (China), Chow Tai Fook (China), CBVH (Cambodia), DBS (Singapore), Frasers Property (Thailand), Grab (Singapore), Indofood (Indonesia), Marina Bay Sands (Singapore), Telkomsel (Indonesia), Samsung (South Korea), Sunway Malls (Malaysia), Toyota (Japan), Shiseido (Japan), Shopee (Singapore), Security Bank (Philippines), among other prominent Brands.

Through collaborations with such a diverse pool of business leaders, we take pride in supporting them establish a successful business that generates value and is recognized for their significance and excellence.”

Each Category Award follows a specific Criteria based on quantitative and qualitative data analysis gathered via ongoing surveys covering more than 25,000 consumers / shoppers and more than 50,000 employees across Asia.

Award                                                  Criteria

Top CEOs                                           Leadership and Management

Top Employers                                   Meaningful culture and positive employee engagement

Top Brands                                         Brand leadership and consumer preference

Top Sustainability Companies            High standards on sustainability and reporting

Top Brand, Top Employers and Top Sustainability Companies Awardee Alumni
Top Brand, Top Employers and Top Sustainability Companies Awardee Alumni

Beyond profits: Business Leaders embracing sustainable leadership for good

The Asia’s Top CEO Award is an special recognition are given to a select group of prominent business leaders who are exemplary in their respective industries, with strong leadership and with the ability to influence business in Asia. Over the years, we have recognised business leaders whose management approach prioritise long-term success and well-being by integrating environmental, social, and economic considerations into decision-making. 

Influential Brands’ Top CEO Awardee Alumni.
Influential Brands’ Top CEO Awardee Alumni.

2026 Regional CEO Summit to welcome Business Leaders from all over Asia

The last edition of the CEO Summit was held in Singapore and Bangkok in March 2025 to recognise and honour pioneers in various industries who have made a profound impact on their customers, consumers, employees and the environment.

Top Sustainability Award: Showcasing Leadership on Sustainability

The awards selection process is grounded in the Global ESG Monitor (GEM) methodology, offering a comprehensive perspective on sustainability practices with a primary aim of assessing and benchmarking the quality of sustainability reporting reflected meaningfully through comprehensive ESG disclosures in Annual Reports and Non-Financial Reports.

The Awardees conferred with the title of Top Sustainability Companies 2024 in Singapore include City Developments Limited and UOL Group. Both companies have demonstrated impressive leadership in sustainability, setting an inspiring standard through the transparent and impactful reporting of its environmental, social, and governance (ESG) efforts. 

Top Employer Award: Commitment towards employee engagement and positive workplace culture

Backed by a robust anonymous employee survey with the participation of more than 25,000 employees, 9 companies are crowned “Asia’s Top Employers”. These organisations have not only exceeded industry standards but have also demonstrated a profound commitment to fostering meaningful employee engagement, establishing a strong alignment between employee and company culture, and implementing pertinent HR practices in the digital age.

The Awardees are: United Overseas Bank (Bank), Singapore Land Group Limited (Property), NTUC LearningHub (Education), National University Health System (Healthcare), PlayFACTO School (Pre-School), JAG Engineering (Engineering), Office Planner (Furniture), Boys’ Town (Non-Profit Charity) and Thailand’s Tops (Supermarket) are lauded by their own employees through anonymous surveys as excellent employers.

Top Brand Award: Leading the way winning the hearts of consumers

Backed by a robust market survey across Asia with the participation of 10,000 consumers, prominent brands are named the “Top Influential Brands”. From consumers, grocery shoppers to frequent travellers, the survey provides a comprehensive view of consumers’ preference in key markets in Asia.

The awardees by region and country are:

  • Asia: AirAsia, Barilla, Gong Cha, Haagen-Dazs, MindChamps.
  • Singapore: AOz, Bioskin, BYD, Chan Brothers Travel, Chew’s, Din Xiao Er, elemen, FairPrice Group, Farmpride, Gardens by the Bay, Huttons, in:genius by Nascans, Jewel Changi Airport, Koufu, Marina Bay Sands, MoneyMax, mulberry, My First Skool, NTUC LearningHub, Odyssey, PlayFACTO School, PropNex, Ryan’s Grocery, SongHe, TungLok, Unisoy.
  • Thailand: Auntie Anne’s, Bangkok Life, Café Amazon, Cotto, Fun-O, Good Mate, Lamina Digital, Lotus’s, Maepranom, Muang Thai Life Insurance, Mister Donut, S&P, Thai Life Insurance, Three Lady Cooks, Tivoli.
  • Malaysia: Big Onion Catering, CB, Famous Amos, MoneyMax, Souper Tang.
  • Philippines: Autohub Group, BonChon, Security Bank.
  • China: Beijing Tong Ren Tang, Chow Tai Fook.
  • Cambodia: Cheang Bak Van Hong Jewellery
  • Vietnam: CafePHO

Thailand’s Top CEO Award: Inspiring visionaries shaping the future of business

The main highlight of the event in Thailand was the recognition of the Top CEOs who were assessed based on their capacity to expand their business (local and international), financial performance, innovation and personal integrity.

CEO Summit Thailand, Influential Brands, in collaboration with Neo Target Co., Ltd., hosted a prestigious awards ceremony in Bangkok on March 6 to honour Thailand’s most prominent corporate leaders of the year.
CEO Summit Thailand, Influential Brands, in collaboration with Neo Target Co., Ltd., hosted a prestigious awards ceremony in Bangkok on March 6 to honour Thailand’s most prominent corporate leaders of the year.

The event was presided over by Mr Omsin Chiwaphruek, former Minister Attached to the Prime Minister’s Office of Thailand, who also officiated the award presentations. 

Among the distinguished brands and leaders recognised were Cotto, Mae Pranom, SCG JWD Logistics, and two prominent female CEOs—Ms Benjamas Apinunrungroj, CEO of GCS Group Corporation Co., Ltd., and Asst. Prof. Dr Wimalyn Bovenizer, Executive President of Phoenix QC Co., Ltd.—both of whom attended the 2025 Asia CEO Summit & Award Ceremony in Singapore. At the event in Singapore, Ms. Carol Fong, Group CEO, CGS International Securities Singapore Pte Ltd was conferred with the title of Asia’s Top CEO.  

The Top CEO Award (Thailand) also recognised Mrs Churaiporn Wijackanawong, Executive Director of Q-Advertising Co., Ltd.; Mr Chai Chaiyawan, Director & CEO of Thai Life Insurance Public Company Limited; and Mr Sara Lamsam, CEO of Muang Thai Life Assurance Public Company Limited.

Mr Jorge Rodriguez, Managing Director of Influential Brands® said, “It is our honour to recognise Business Excellence in Asia. We are looking forward to celebrate ASEAN business leaders at the CEO Summit and Gala Event in March 2026. “

SquaredFinancial unveils referral program with rewards up to $1,000 per client

By
Advertorial Desk
-

VICTORIA, Seychelles, Aug. 18, 2025 /PRNewswire/ — Technology-driven trading platform, SquaredFinancial, has launched its referral program, to accelerate client growth, drive trading volume, and offer real value to its global community of traders.

SquaredFinancial harnesses advanced technology and client-first approach to boost customer retention rates by increasing clients’ revenue, while ensuring a seamless and rewarding experience.

 

SquaredFinancial unveils referral program
SquaredFinancial unveils referral program

 

Under the new program, existing clients can earn flexible payouts of up to $1,000 for every friend they refer who meets the program’s verification, funding, and trading criteria. This initiative presents traders with an additional way to grow their income alongside their trading activity.

The SquaredFinancial referral program is built on mutual benefits. Referrals are welcomed with incentive bonuses when they open their account and deposit, while referrers are rewarded for their endeavours, trust, and loyalty.

Thousands of traders trust SquaredFinancial. By referring friends, traders are helping them navigate the markets seamlessly while enhancing their own trading journey with added rewards.

Start referring today.

About SquaredFinancial

Founded in 2005, SquaredFinancial is a fintech and multi-asset trading firm providing regulated, technology-driven investment solutions. The company serves a global client base, offering intuitive platforms for investors and professional-grade liquidity and technology services for brokers. With a focus on innovation, transparency, and long-term relationships, SquaredFinancial is built to support the future of finance.

 

 

From Debt to Pride: How Integrated Farming Changed One Man’s Life

By
Laotian Times
-
Anouthikone “Top” Sepaseuth, the founder of Ai Oun Farm.

In Luang Prabang’s Chomphet district, Ai Oun Farm stands as proof that determination can change the course of a life. 

Continue

Baidu Wenku and Netdisk Launch GenFlow 2.0, Deploying Over 100 AI Agents Simultaneously

By
Advertorial Desk
-

BEIJING, Aug. 18, 2025 /PRNewswire/ — Baidu Wenku and Netdisk, Baidu’s AI-powered productivity apps, have introduced GenFlow 2.0, a general AI agent featuring more than 100 parallel agents working in collaboration and real-time pause-and-intervene control. Since its debut, GenFlow 2.0 has gained rapid traction with its innovative architecture.

Baidu Wenku and Netdisk Launch GenFlow 2.0, Deploying Over 100 AI Agents Simultaneously
Baidu Wenku and Netdisk Launch GenFlow 2.0, Deploying Over 100 AI Agents Simultaneously

Built on Baidu Wenku’s proprietary Multi-Agent Parallel Architecture, GenFlow 2.0 cuts complex task processing from hours to under three minutes by orchestrating more than 100 AI agents simultaneously — delivering unmatched speed and scalability compared with current solutions. Tasks such as drafting a full marketing campaign, designing accompanying visuals, and preparing a conference presentation can now be completed in a single, continuous workflow in minutes.

Unlike most AI agents that operate as black boxes where users only see inputs and final outputs, GenFlow 2.0 gives users full control during execution — allowing tasks to be paused at any stage, instructions modified, and results edited — providing a highly transparent and controllable human-AI collaboration experience.

To ensure accuracy and depth, GenFlow 2.0 autonomously accesses Baidu Scholar’s 680 million peer-reviewed academic publications, Baidu Wenku’s 1.4 billion professional documents, and user-approved Baidu Netdisk files. Combined with the retrieval-augmented generation (RAG) and multi-agent cross-validation, GenFlow 2.0 reduces hallucinations and delivers exceptional accuracy and reliability.

GenFlow 2.0 supports an expansive range of multimodal outputs, including copywriting, visual design, slide creation, research report generation, animation production, and coding. Baidu Wenku’s 97 million monthly active AI users—home to the world’s largest AI-powered PPT user base—demonstrate the platform’s proven execution stability and output quality.

Now fully integrated into Baidu Wenku and Baidu Netdisk, which serve over one billion users, GenFlow 2.0 is also MCP-compatible and natively embedded at the OS level on leading Chinese smartphone brand HONOR — enabling seamless access across devices.

While foundation model capabilities are important, long-term leadership will increasingly rely on engineering execution and product innovation. GenFlow 2.0 stands out with rapid product iteration, deep localization, and precise market alignment, enabled by its multi-agent architecture and uniquely controllable interaction model.

For more information about GenFlow 2.0, please visit wenku.baidu.com.

Regent Hong Kong Celebrates Prestigious Win as “Best Brand Hotel” at Virtuoso Travel Week 2025

By
Advertorial Desk
-

A variety of high-resolution images are available via the link. Regent Hong Kong Digital Access

HONG KONG, Aug. 18, 2025 /PRNewswire/ — Regent Hong Kong is thrilled to announce its recognition as the “Best Brand Hotel” at the 2025 Virtuoso Travel Week, held in Las Vegas from August 9–15. This distinguished award, determined by Virtuoso’s global network of esteemed travel agencies, advisors, and preferred partners who set the benchmark in luxury travel, highlights Regent Hong Kong’s unrivaled service, inspired design, and its role as a beacon of refined hospitality along Victoria Harbour.

Perched on the edge of Victoria Harbour, Regent Hong Kong has redefined modern luxury since its transformative relaunch in 2023. Designed by visionary Chi Wing Lo, the hotel seamlessly blends serene interiors with breathtaking views of Hong Kong’s iconic skyline, offering guests a tranquil haven amidst the city’s vibrant energy.

“Virtuoso Awards celebrate those who are shaping the future of luxury travel through integrity, outstanding service and unforgettable experiences,” said Virtuoso Chairman and CEO Matthew D. Upchurch. “These annual awards celebrate the exceptional members and partners who bring our shared purpose to life: enriching lives through human connection and the power of travel. Regent Hong Kong exemplifies the innovation, collaboration, and unwavering commitment that define our network, and they deserve to be recognized for their dedication that elevates the Virtuoso network and the industry as a whole.”

“We are deeply honoured to be named the ‘Best Brand Hotel’ by Virtuoso’s esteemed network of travel advisors,” said Michel Chertouh, Managing Director of Regent Hong Kong. “This recognition reflects the passion and professionalism of our team, who consistently craft unforgettable moments through thoughtful design, intuitive service, and curated experiences. We are grateful to our loyal guests and the global travel community for embracing our vision of discreet luxury on Victoria Harbour.”

This accolade follows a series of global honours for Regent Hong Kong, including being named the #1 City Hotel in Asia, #1 City Hotel in Hong Kong for the second consecutive year, and #14 among the world’s best hotels in the 2025 Travel + Leisure World’s Best Awards readers’ survey. These achievements reflect the hotel’s unique ability to balance urban dynamism with serene luxury, offering guests Personal Havens—peaceful spaces to pause and savour the moment.

Flipster Unveils the First Zero-Spread Model in Crypto Perpetuals Trading

By
Advertorial Desk
-

Eliminates the hidden price gap costing traders more than they realize

PANAMA CITY, Aug. 18, 2025 /PRNewswire/ — Flipster, a fast-growing crypto perpetuals trading platform, has unveiled the industry’s first true zero-spread trading model, making it the first crypto exchange to eliminate the hidden price gap, known as the spread, that quietly drains trader profits.

Flipster Unveils the First Zero-Spread Model in Crypto Perpetuals Trading
Flipster Unveils the First Zero-Spread Model in Crypto Perpetuals Trading

With this structural shift, Flipster becomes the first exchange to offer one price execution with no markup on major perpetual pairs — delivering a new level of pricing transparency on perpetual trading that no other crypto exchange has offered.

Hidden Costs Most Traders Miss

Most exchanges charge a visible trading fee on every order. But what many traders don’t realize is that these posted fees are just part of the real cost. The bigger and often overlooked cost is the spread: the hidden gap between the price to go long and the price to go short.

When traders open a position, they cross that gap. When they close it, they cross it again. This creates a built-in round-trip cost that isn’t displayed upfront, yet quietly chips away at returns on every trade.

It adds up fast, especially for active, high-frequency or high-volume traders. In many cases, the spread can cost more than the trading fee itself.

For example, a trader placing a $100,000 trade may pay a visible fee of $50 at a 5 basis point rate. But if there’s also a 2 basis point spread, that’s another $40 in hidden cost just from entering and exiting the position. Add slippage, and the total cost can easily end up being two to three times higher than the posted fee.

Flipster eliminates this invisible markup by offering zero spreads on major pairs, fundamentally redefining how liquidity and execution are structured. It means quoting a single unified price rather than a split bid/ask, something most exchanges simply are not built to do.

Security That Matches Performance

Flipster is built with the same high-grade protection used by leading global financial institutions. The platform is ISO 27001 certified, adheres to internationally recognized security standards, and deploys multi-layer safeguards to protect user assets. Wallet security is reinforced with technology that removes single points of failure, while its 24/7 monitoring systems detect and neutralize threats in real time. With security embedded in every layer, Flipster ensures that assets remain protected through all market conditions.

The Only Exchange with Zero Spread and Active Yield

What you see is what you trade.

Zero spread on 20+ Major Perpetual Pairs. Traders access one unified market price. No markup. No hidden slippage.

Earn while you trade.

Locked or flexible, capital works without interruption. Flipster is the only exchange that lets traders earn and trade at the same time.

See what trading without compromise feels like. Try it yourself at flipster.io

About Flipster

Flipster is the zero-friction exchange for crypto traders who demand the ultimate perpetual trading experience. With ultra-tight spreads, balances that earn while trading, and up to 100x leverage, it delivers precision and performance for those who move fast and trade faster. In 2024 alone, Flipster’s trading volume grew 856% year-on-year, solidifying its position as one of the fastest-growing crypto perpetuals trading platforms. Learn more at flipster.io or follow X.

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