Douyu International Holdings Limited (DOYU): Análise de Pestle [Jan-2025 Atualizada]

No mundo dinâmico do entretenimento digital, a Douyu International Holdings Limited (DOYU) está em uma encruzilhada crítica, navegando em um cenário complexo de inovação tecnológica, desafios regulatórios e mudando comportamentos de consumidores. Essa análise abrangente de pestles revela a intrincada rede de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam a trajetória estratégica da plataforma, oferecendo um profundo mergulho nas forças críticas que influenciam uma das empresas mais proeminentes da China.

Douyu International Holdings Limited (DOYU) - Análise de Pestle: Fatores Políticos

Regulamentos do governo chinês rigoroso em plataformas de streaming e jogos on -line

Em 2021, o governo chinês implementou 44 novos regulamentos direcionando plataformas de streaming on -line e jogos. A administração do ciberespaço da China (CAC) impôs mecanismos rígidos de revisão de conteúdo e restrições de idade.

Categoria de regulamentação	Impacto específico em Douyu	Ano de execução
Monitoramento de conteúdo	Verificação obrigatória do nome real	2022
Proteção menor	Horário limitado de streaming para usuários com menos de 18 anos	2021
Relatórios de receita	Requisitos de transparência financeira aumentados	2023

Aumento do escrutínio estatal do conteúdo e das práticas de dados das empresas de tecnologia

A Lei de Proteção de Informações Pessoais (PIPL) promulgada em 2021 mandatos Governança de dados estritos para plataformas de tecnologia.

• Requisitos de localização de dados para empresas de tecnologia chinesas
• Avaliações obrigatórias de segurança cibernética para plataformas com mais de 1 milhão de registros de usuários
• Penalidades de até 5% da receita anual para não conformidade

Potenciais tensões geopolíticas que afetam investimentos em tecnologia transfronteiriça

As tensões de tecnologia EUA-China resultaram em aumento do escrutínio regulatório Para investimentos transfronteiriços.

Área de restrição de investimento	Órgão regulatório	Impacto em Douyu
Investimento estrangeiro	CFIUS (EUA)	Levantamento limitado de capital offshore
Transferência de tecnologia	Ministério do Comércio Chinês	Controles de exportação de tecnologia mais rigorosa

Push do governo pela autoconfiança tecnológica e inovação doméstica

A iniciativa "Made in China 2025" da China prioriza o desenvolvimento de tecnologia doméstica com financiamento substancial do governo.

• Investimento nacional de 1,4 trilhão de dólares em setores de tecnologia doméstica
• Incentivos fiscais para plataformas de tecnologia local
• Apoio político preferencial para inovação indígena

Douyu International Holdings Limited (DOYU) - Análise de Pestle: Fatores econômicos

Ambiente econômico desafiador no setor de tecnologia da China

O desempenho financeiro de Douyu reflete o desafio cenário econômico no setor de tecnologia da China. No terceiro trimestre de 2023, a empresa registrou receita total de US $ 236,1 milhões, representando um declínio de 7,1% ano a ano.

Métrica financeira	Q3 2023	Mudança de ano a ano
Receita total	US $ 236,1 milhões	-7.1%
Perda líquida	US $ 31,5 milhões	-15.2%
Usuários ativos mensais médios	43,2 milhões	-5.3%

Receita e lucratividade em declínio no mercado de transmissão ao vivo

O mercado de transmissão ao vivo na China experimentou pressões econômicas significativas. Os indicadores financeiros de Douyu demonstram essa tendência:

• A margem bruta diminuiu para 21,7% no terceiro trimestre de 2023
• As despesas operacionais foram de US $ 83,4 milhões, uma redução de 12,5% em relação ao trimestre anterior
• A receita de transmissão ao vivo caiu 8,3% ano a ano

Concorrência intensa de plataformas rivais

Plataforma	Quota de mercado	Receita anual
Douyu	32.5%	US $ 942,3 milhões
Huya	35.7%	US $ 1,1 bilhão
Bilibili	21.3%	US $ 813,6 milhões

Impacto potencial da desaceleração econômica

Os gastos com entretenimento digital da China mostraram um 4,2% de contração em 2023, impactando diretamente os fluxos de receita de Douyu. Os principais indicadores econômicos sugerem desafios contínuos do mercado:

• Os gastos discricionários do consumidor diminuíram 3,7%
• O crescimento do mercado de entretenimento digital diminuiu para 2,1%
• A receita de publicidade no setor de transmissão ao vivo caiu 6,5%

Douyu International Holdings Limited (DOYU) - Análise de Pestle: Fatores sociais

Mudança de preferências do consumidor em entretenimento on -line

Segundo a Statista, o mercado chinês de transmissão ao vivo atingiu 456,6 bilhões de yuan em 2022, com uma taxa de crescimento projetada de 7,9% ao ano. A base de usuários de Douyu compreende 186,2 milhões de usuários mensais ativos a partir do terceiro trimestre de 2023.

Segmento de mercado	Porcentagem do usuário	Tempo médio de relógio
Jogando transmissões ao vivo	62.4%	2,3 horas/dia
Conteúdo não-gaming	37.6%	1,7 horas/dia

Os hábitos de consumo de mídia demográficos mais jovens

A Nielsen relata que a faixa etária de 18 a 34 representa 73,5% da base de usuários de Douyu. O consumo de streaming móvel aumentou 42,6% em 2022.

Faixa etária	Porcentagem de usuários	Tempo de transmissão diária
16-24 anos	41.3%	3,1 horas
25-34 anos	32.2%	2,6 horas

Aceitação crescente de transmissão ao vivo como entretenimento convencional

A pesquisa da PWC indica que o mercado de entretenimento ao vivo na China se expandiu para 737,5 bilhões de yuans em 2023, com 67,3% de penetração de mídia social entre as populações urbanas.

Engajamento da plataforma de condução da cultura de influenciadores de mídia social

Os dados do Influencher Marketing Hub mostram que os principais streamers de Douyu geram receitas mensais entre US $ 50.000 e US $ 250.000. A plataforma hospeda 12.500 criadores de conteúdo profissional.

Categoria Streamer	Espectadores mensais	Receita média
Fladers de primeira linha	500,000-2,000,000	$150,000-$250,000
Fladers de nível intermediário	100,000-500,000	$30,000-$80,000

Douyu International Holdings Limited (DOYU) - Análise de Pestle: Fatores tecnológicos

Investimento contínuo na tecnologia de streaming e recomendações orientadas pela IA

Douyu investiu US $ 43,2 milhões em pesquisa e desenvolvimento para tecnologias de streaming em 2023. O algoritmo de recomendação da AI da empresa processa 2,7 bilhões de interações do usuário diariamente, com uma taxa de precisão de correspondência de 78%.

Categoria de investimento em tecnologia	Despesas anuais ($ m)	Métrica de desempenho tecnológico
Sistemas de recomendação de IA	18.6	2.7b Interações diárias do usuário
Infraestrutura de streaming	24.7	99,94% de confiabilidade no tempo de atividade

Recursos avançados de streaming interativo em tempo real

O DOUYU suporta a transmissão em 4K com latência reduzida para 0,3 segundos. A plataforma lida com 12,5 milhões de transmissões ao vivo simultâneos com recursos de interação em tempo real.

Integração de tecnologias emergentes

• Receita de presentes virtuais: US $ 127,3 milhões em 2023
• A integração de AR atingiu 3,2 milhões de usuários ativos mensais
• Volume da transação de itens virtuais: 487 milhões de transações

Desenvolvimento de experiências de streaming de Mobile-primeiro

Mobile Streaming é responsável por 81,5% do tráfego total da plataforma. As estatísticas de download de aplicativos móveis atingiram 142,6 milhões em 2023, com uma base média de usuários ativos médios de 36,4 milhões de usuários móveis.

Métrica de streaming móvel	2023 dados
Porcentagem de tráfego móvel	81.5%
Downloads de aplicativos móveis	142,6 milhões
Usuários ativos móveis diários	36,4 milhões

Douyu International Holdings Limited (DOYU) - Análise de Pestle: Fatores Legais

Conformidade com os regulamentos chineses de segurança cibernética e proteção de dados

Métricas de conformidade da lei de segurança cibernética:

Categoria de regulamentação	Requisito de conformidade	Status de Douyu
Localização de dados	Armazenar dados do usuário no território chinês	100% de conformidade
Proteção de informações pessoais	Consentimento do usuário para coleta de dados	Implementou mecanismos de consentimento obrigatório
Avaliação de segurança de rede	Auditoria anual de segurança de terceiros	Realiza avaliações anuais obrigatórias

Navegando requisitos legais de moderação complexa de conteúdo

MODEÇÃO DE CONTEÚDO Framework Legal:

• Conformidade com a administração do ciberespaço da China (CAC) regulamentos
• Mecanismos de filtragem de conteúdo em tempo real
• Equipe de moderação 24/7 de 350 especialistas em conformidade legal

Tipo de conteúdo	Taxa de conformidade com moderação	Risco de penalidade legal
Conteúdo politicamente sensível	99,8% de taxa de remoção	Baixo
Streaming inadequado	Taxa de remoção de 97,5%	Médio

Desafios potenciais de questões de proteção de propriedade intelectual

Métricas de proteção IP:

Categoria IP	Proteções registradas	Despesas legais anuais
Tecnologia da plataforma de streaming	37 patentes registradas	US $ 2,1 milhões
Acordos de criador de conteúdo	12.500 contratos de criador ativo	US $ 1,5 milhão em gerenciamento legal de contratos

Restrições regulatórias em jogos e conteúdo de transmissão ao vivo

Conformidade de regulamentação de conteúdo de jogos:

Aspecto regulatório	Detalhes de restrição	Medida de conformidade com Douyu
Limite menor de jogo	Menores de 18: Máximo 1,5 horas/dia	Sistema de verificação de idade implementado
Classificação de conteúdo de jogos	Restrições rigorosas baseadas em gênero	Algoritmo de classificação de conteúdo automatizado

Douyu International Holdings Limited (DOYU) - Análise de Pestle: Fatores Ambientais

Foco crescente na eficiência energética nas operações de data center

As métricas de consumo de energia do Douyu Data Center a partir de 2023:

Métrica	Valor	Unidade
Consumo total de energia	42.6	Milhões de kWh
Eficácia do uso de energia (PUE)	1.58	Razão
Uso de energia renovável	18.3	Percentagem

Potencial redução de pegada de carbono através de tecnologias de streaming de nuvem

Dados de emissões de carbono para a infraestrutura de streaming de Douyu:

Categoria de emissão	2022 Emissões	2023 Redução projetada
Emissões de carbono de data center	24,500	12.4%
Emissões de infraestrutura de rede	15,700	8.9%

Consciência crescente de resíduos eletrônicos em plataformas de tecnologia

Estatísticas eletrônicas de gerenciamento de resíduos:

• Resíduos eletrônicos totais gerados em 2023: 6,2 toneladas métricas
• Taxa de reciclagem: 47,5%
• Meta de redução de lixo eletrônico para 2024: 22%

Iniciativas de sustentabilidade no desenvolvimento de infraestrutura digital

Redução de investimentos em sustentabilidade:

Iniciativa	Valor do investimento	Linha do tempo da implementação
Atualização do Green Data Center	US $ 3,6 milhões	2024-2025
Substituição do servidor com eficiência energética	US $ 2,1 milhões	2024
Compras de energia renovável	US $ 1,8 milhão	2024-2026

DouYu International Holdings Limited (DOYU) - PESTLE Analysis: Social factors

Sociological

The social landscape in China presents a significant structural challenge for DouYu International Holdings Limited, primarily driven by evolving user consumption habits and strict regulatory oversight. As a seasoned analyst, I see the core issue as a fundamental shift in user attention away from long-form, game-centric live streaming toward more digestible, multi-content formats. This isn't a cyclical downturn; it's a structural headwind.

The most immediate and concerning data point is the erosion of the user base. In the third quarter of 2025, DouYu's average mobile Monthly Active Users (MAUs) dropped to 30.5 million, a substantial decrease of 27.5% year-over-year from 42.1 million in the same period of 2024. This decline is a direct consequence of content supply adjustments and cost-structure optimization, which, while boosting short-term profitability, sacrifices long-term user scale. You simply can't cut content costs without losing viewers.

Average mobile Monthly Active Users (MAUs) decreased 27.5% year-over-year in Q3 2025

The MAU decline shows a clear loss of platform relevance in the broader digital ecosystem. This isn't just a number; it's the platform's core asset shrinking. Here's the quick math on the user loss:

Metric	Q3 2025 Value	Q3 2024 Value	Year-over-Year Change
Average Mobile MAUs	30.5 million	42.1 million	-27.5%
Livestreaming Revenue	RMB522.1 million (US$73.3 million)	RMB752.1 million	-30.6%
Average Paying Users	2.7 million	N/A	Decreased YoY

The 30.6% drop in core Livestreaming revenues to RMB522.1 million in Q3 2025 confirms that the user attrition is directly impacting the monetization engine. The platform is trading scale for margin defense, which is a dangerous long-term strategy.

The shift in user preference toward short-form video and multi-content platforms intensifies competition

User attention is finite, and the competition for it is brutal. Short-form video (like TikTok/Douyin) has become the dominant media format, with forecasts suggesting it will claim up to 90% of all internet traffic by the end of 2025. Consumers prefer speed; 73% of them prefer short-form videos to learn about products or services, especially Gen Z, where 57% favor this format.

This preference shift is a direct threat because DouYu's core offering is long-form, linear live-streaming. The platform is losing the attention battle to rivals that offer immediate, bite-sized entertainment. Short-form videos also receive 2.5 times more engagement than long-form content, making it defintely harder for DouYu to compete for new users.

Growth in voice-based social networking shows user demand for non-core gaming, diversified content

The one bright spot is the demand for diversified content, which signals a potential pivot point. DouYu's Innovative business segment, which includes voice-based social networking, is the only part of the business showing meaningful growth. This segment's revenue grew 21.2% year-over-year in Q3 2025 to RMB377 million.

Specifically, revenues from the voice-based social networking business reached RMB275.9 million in Q3 2025. This shows that users are willing to engage with DouYu for non-gaming social interaction. It's an ancillary service that is anchoring the business as the core gaming live-streaming market faces structural headwinds.

• Innovative Business Revenue (Q3 2025): RMB377 million.
• Innovative Business Growth (YoY): 21.2%.
• Voice-Based Social Networking Revenue (Q3 2025): RMB275.9 million.

Strict government controls on youth gaming time directly impact future user acquisition and retention

The Chinese government's strict anti-addiction regulations on minors' gaming time act as a permanent cap on the platform's future user pipeline. Minors under 18 are restricted to playing online games for only one hour a day, and only on Fridays, Saturdays, Sundays, and public holidays, specifically from 8 pm to 9 pm.

This policy has already had a significant effect, with reports indicating a drop of about 40 million young gamers in China compared with 2020. Since DouYu is a game-centric live-streaming platform, these regulations directly impede the acquisition and retention of the next generation of core users and, crucially, future esports talent. The long-term impact on the platform's ability to cultivate a new paying user base is severe.

DouYu International Holdings Limited (DOYU) - PESTLE Analysis: Technological factors

You need to understand that technology is both DouYu International Holdings Limited's biggest cost-saver and its most immediate threat. The company is extracting significant efficiency gains from its infrastructure, but the core game-centric live streaming business is under siege from rivals with superior short-video and AI technology.

Here's the quick math: DouYu is cutting costs aggressively, but that also means R&D spending is shrinking right when competitors are pouring billions into next-generation AI video. That's a dangerous trade-off in a tech-driven market.

Platform competition from rivals like ByteDance and Xiaohongshu (Red Note) leveraging superior short-video technology.

The biggest technological headwind DouYu faces is the relentless innovation from platforms like ByteDance and Xiaohongshu (often called Red Note by US users). ByteDance, the parent of Douyin and TikTok, is not just a competitor; it's a technological behemoth, reportedly pouring over $20 billion into its AI infrastructure in 2025 alone.

This massive investment translates directly into superior short-video algorithms and AI-driven content creation tools that draw users away from traditional long-form live streaming. For example, ByteDance's AI chatbot, Doubao, hit 157 million monthly active users by August 2025, showing their strength in next-gen interactive content. DouYu's focus on a game-centric niche helps, but it doesn't insulate them from the broader shift in user attention toward short, high-production-value video content that platforms like Xiaohongshu (Red Note) also leverage, even with its lifestyle focus. The competitive pressure forces DouYu to constantly play catch-up on user experience.

Cost efficiency gains from 'bandwidth allocation advancement' reduced Q3 2025 bandwidth costs by 34.2%.

On the upside, DouYu's engineering team is delivering real, measurable cost efficiencies. The company's focus on 'bandwidth allocation advancement' and general cost optimization has been a huge win for the bottom line. In the third quarter of 2025, bandwidth costs dropped by a substantial 34.2% year-over-year.

This reduction is a direct result of smarter technology use, not just lower traffic. It's defintely helping them manage their operating expenses even as revenue declines. Here's the quick math on the savings:

Metric	Q3 2025	Q3 2024	Change
Bandwidth Costs (RMB)	RMB47.5 million	RMB72.2 million	-34.2%
Bandwidth Costs (USD)	US$6.7 million	US$10.3 million	-34.2%

This cost control was a key factor in DouYu reporting an income from operations of RMB11.9 million (US$1.7 million) in Q3 2025, a significant turnaround from a loss of RMB94.2 million in the same period of 2024.

Continuous need for investment in low-latency streaming and interactive technologies to maintain game-centric focus.

To keep its core audience-hardcore gamers-DouYu must maintain a technological edge in live streaming quality. Gamers demand ultra-low latency (the delay between the streamer's action and the viewer's screen) and seamless interactive features like real-time chat and virtual gifting. This is non-negotiable for eSports. Still, the company's R&D spending trend raises a flag.

While the need for investment is continuous, DouYu's Research and Development expenses for Q3 2025 decreased by 37.8% to RMB26.9 million (US$3.8 million), compared to Q3 2024. This decrease, largely attributed to staff-related expense reductions, suggests a potential underinvestment in the very technology needed to fend off rivals and improve the core product experience. You can't cut your way to innovation.

Development of voice-based social networking service requires new R&D focus and resource allocation.

DouYu's strategic pivot into innovative businesses, particularly the voice-based social networking service, is a major technological and R&D focus for 2025. This move requires shifting resources away from pure live-streaming technology toward AI-enhanced social and audio capabilities.

The new service is showing strong commercialization potential, driving revenue growth in the innovative business segment. The focus areas for R&D include:

• Enhancing AI capabilities for user conversion efficiency.
• Refining traffic distribution strategies to boost user conversion rates.
• Ramping up product innovation around game props and virtual items.

In Q1 2025, this segment generated RMB290.1 million in revenue. The service had an average of 498,400 monthly active users (MAUs) and 82,900 monthly average paying users in the first quarter of 2025, indicating a strong monetization rate for the new technology.

DouYu International Holdings Limited (DOYU) - PESTLE Analysis: Legal factors

The legal landscape for DouYu International Holdings Limited is defined by a rapid acceleration of regulatory oversight in China, moving from broad guidelines to specific, enforceable platform liabilities. This environment demands immediate, costly compliance actions, and it carries the real risk of significant financial penalties and operational disruptions.

New draft live-streaming e-commerce regulations (June 2025) mandate stricter real-name host verification and content compliance.

In June 2025, the State Administration for Market Regulation (SAMR) and the Cyberspace Administration of China (CAC) jointly released draft regulations aimed at tightening the leash on the live-streaming sector. The core of these rules is a demand for platforms like DouYu International Holdings Limited to implement significantly stricter controls over their content creators. This is a crucial shift: the onus is now firmly on the platform to police its ecosystem, not just the individual streamer.

Specifically, the draft measures require DouYu International Holdings Limited to:

• Verify streamer identity and qualifications with greater rigor.
• Maintain clearer, more detailed host registration records.
• Archive all livestream recordings for a minimum of three years for regulatory audit.

This isn't a suggestion; it's a mandate that requires a defintely massive investment in compliance technology and staffing. It's a cost center that will directly impact the 2025 fiscal year's operational expenses.

Platform operators face increased legal liability for fraudulent marketing and content violations by streamers.

The new regulatory framework dramatically increases platform accountability, translating to greater legal risk for DouYu International Holdings Limited. Historically, platforms could often shift blame to the individual streamer for issues like misleading product claims or inappropriate content. Now, the draft rules clarify that platform operators themselves must enhance penalties for violations and cooperate with regulators to remove non-compliant content, emphasizing the legal consequences for failing to meet these statutory obligations. This means DouYu International Holdings Limited must actively monitor and enforce content standards to mitigate its own legal exposure.

Here's a quick look at the shift in liability:

Regulatory Area	Previous Focus (Pre-2025)	New Focus (June 2025 Draft)
Host Verification	Basic real-name registration.	Stricter identity and professional qualification checks.
Content Violation Liability	Primarily on the individual streamer.	Increased legal liability on the platform operator for lack of oversight.
Content Archival	Varies, often shorter or non-existent.	Mandatory archival of all livestreams for ≥3 years.

Company paid a $2.25 million investor settlement in 2025 over claims of misleading investors about regulatory risks.

DouYu International Holdings Limited has already felt the financial sting of past regulatory issues. The company agreed to pay a $2.25 million settlement to resolve a class action lawsuit in 2025. This settlement was tied to claims that the company misled investors about the risks associated with the Chinese government's aggressive action concerning gaming content and addiction concerns. The initial regulatory scrutiny from the Cyberspace Administration of China (CAC) in May 2023, which led to a stock drop of 9.33%, formed the basis of this legal action. The settlement serves as a concrete example of how regulatory risk directly translates into shareholder litigation and significant financial payouts.

Ongoing risk of content and operations scrutiny from the Cyberspace Administration of China (CAC).

The CAC's involvement is not a one-off event; it is an ongoing, systemic risk. The agency is the primary force behind the 'Clean Internet' campaign launched in June 2025, which aims to curb excessive entertainment-driven content and restore order online. The CAC has actively penalized other major platforms like Sina Weibo and Kuaishou in 2025 for failing to properly manage their trending lists and for allowing 'trivial content,' issuing warnings and ordering rectification. DouYu International Holdings Limited operates in the same highly visible, high-risk sector, and its core business-game live-streaming-is a frequent target of content-based scrutiny related to gaming addiction and social values. The CAC's heightened enforcement activity across the sector means DouYu International Holdings Limited is under constant threat of an administrative interview, a fine, or an operational suspension if it fails to meet the CAC's evolving and often vague content standards.

DouYu International Holdings Limited (DOYU) - PESTLE Analysis: Environmental factors

Focus on operational efficiency has led to significant reduction in bandwidth costs, a key resource consumption metric.

You need to understand that for a live-streaming platform like DouYu International Holdings Limited, the core environmental footprint is not a factory smokestack; it's the massive energy demand of data transmission. This is measured directly by bandwidth costs, and the company has shown a clear, quantifiable trend toward efficiency in 2025.

The company's strategic focus on 'bandwidth allocation advancement' and optimizing its operating model has translated directly into reduced resource consumption. Here's the quick math on the near-term gains:

Metric	Q3 2025 Value	Year-over-Year Change
Bandwidth Costs (RMB)	RMB47.5 million	Decrease of 34.2%
Bandwidth Costs (US$)	US$6.7 million	Decrease of 34.2%
Gross Profit Increase (Q3 2025 YOY)	RMB116.1 million	Increase of 90.9%

This reduction in bandwidth costs-down to RMB47.5 million (US$6.7 million) in Q3 2025, a 34.2% drop from the prior year-is the most tangible evidence of its environmental efficiency efforts. It shows they are doing more with less digital infrastructure, which is defintely a win for both the bottom line and the planet. This efficiency is a core driver of the Q3 2025 gross profit increase of 90.9% to RMB116.1 million (US$16.3 million).

Increasing stakeholder pressure for transparent Environmental, Social, and Governance (ESG) reporting, especially on data center energy use.

While DouYu International Holdings Limited publicly commits to 'sustainable development capabilities,' the pressure from institutional investors and regulators for granular ESG reporting is only rising, especially around data center energy use (Scope 2 emissions). The industry trend for hyperscalers and cloud platforms is toward greater transparency, with global data center energy consumption estimated to have increased to 310.6 TWh in 2024, a growth rate of about 11.7% since 2019.

As a major consumer of cloud and data center services, DouYu is subject to this scrutiny, even if its direct reporting is limited. What this estimate hides is the indirect pressure to choose green cloud providers and disclose Power Usage Effectiveness (PUE) metrics. You should anticipate a future requirement for clear, non-financial metrics beyond just cost savings.

The 'E' is mostly indirect, centered on server power consumption and e-waste from hardware refreshes.

The environmental impact, or the 'E' in PESTLE, for a live-streaming company is almost entirely indirect, tied to the supply chain and its outsourced infrastructure. The primary concerns are:

• Server Power Consumption: The energy needed to run the content delivery network (CDN) and data centers that handle millions of simultaneous video streams.
• E-Waste: The disposal of hardware (servers, networking gear) from technology refreshes.
• Supply Chain Emissions: The carbon footprint of manufacturing the hardware it uses or leases.

The 34.2% reduction in bandwidth costs in Q3 2025 is a proxy for efficiency in server power consumption, as less bandwidth usage often means more efficient encoding and delivery, which reduces server load. Still, without a formal e-waste management policy disclosure, the company's handling of discarded hardware remains a potential, unquantified liability. The global trend is toward Extended Producer Responsibility (EPR), which will eventually affect all companies that rely on digital hardware.

Corporate social responsibility (CSR) is defintely tied to promoting healthy, non-addictive digital consumption.

For a gaming and live-streaming platform, the 'S' (Social) and 'E' (Environmental) factors blur, as promoting a 'healthy community ecosystem' is a key part of its corporate social responsibility (CSR). This is a critical risk area in China, where regulators are highly focused on combating digital addiction and promoting digital well-being.

DouYu International Holdings Limited's CSR efforts are currently best demonstrated by:

• Focusing on 'long-term healthy development' in its corporate mission.
• Optimizing traffic and resource allocation to maintain a 'healthy community ecosystem' in its voice-based social networking service.
• Nurturing a 'sustainable technology-based talent development system' to improve content quality.

The growth of the voice-based social networking business, which generated RMB275.9 million in Q3 2025 revenue, is a concrete example of diversifying into less resource-intensive and potentially more socially constructive content than pure high-definition game streaming. Finance: draft a memo outlining the likely future costs of mandatory Scope 2 emissions reporting by Q2 2026.