T. H. Data Flash - DouYu – June 2020 & 2Q20E: All Operational Metrics Continue To Be Strong In 2Q20; Cooperation With Tencent To Release New Game Streamings
We are positive into DOYU’s 2Q20 performance as our data showed continuous high growth in operational metrics. Cooperating with Tencent (700.HK. HK$539.00, Not Rated), Douyu launched live streaming activities for DNF and Brawl Stars in June 2020. In addition, the company held tournaments for major online games in 2Q20, which we believe is likely to be positive to its MAUs and paying members. Based on our data and model, we believe Douyu’s revenue is likely to be higher than the consensus at RMB2,434M (30% Y/Y growth).
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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