DouYu International Holdings Limited (DOYU): Análisis PESTLE [Actualizado en Ene-2025]

En el mundo dinámico del entretenimiento digital, Douyu International Holdings Limited (Doyu) se encuentra en una encrucijada crítica, navegando por un paisaje complejo de innovación tecnológica, desafíos regulatorios y comportamientos de los consumidores cambiantes. Este análisis integral de la maja revela la intrincada red de factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales que dan forma a la trayectoria estratégica de la plataforma, ofreciendo una inmersión profunda en las fuerzas críticas que influyen en una de las empresas de transmisión vivos más destacadas de China.

Douyu International Holdings Limited (Doyu) - Análisis de mortero: factores políticos

Estrictas regulaciones del gobierno chino sobre plataformas de transmisión y juego en línea

En 2021, el gobierno chino implementó 44 nuevas regulaciones dirigido a plataformas de transmisión y juego en línea. La administración del ciberespacio de China (CAC) impuso mecanismos estrictos de revisión de contenido y restricciones de edad.

Categoría de regulación	Impacto específico en Douyu	Año de cumplimiento
Monitoreo de contenido	Verificación obligatoria de nombre real	2022
Protección menor	Horas de transmisión limitadas para usuarios menores de 18 años	2021
Informes de ingresos	Mayores requisitos de transparencia financiera	2023

Aumento del escrutinio estatal de las prácticas de contenido y datos de las compañías tecnológicas

La Ley de Protección de Información Personal (PIPL) promulgada en 2021 mandatos Gobierno de datos estricto para plataformas tecnológicas.

• Requisitos de localización de datos para empresas tecnológicas chinas
• Evaluaciones obligatorias de ciberseguridad para plataformas con más de 1 millón de registros de usuario
• Sanciones hasta el 5% de los ingresos anuales por incumplimiento

Posibles tensiones geopolíticas que afectan las inversiones de tecnología transfronteriza

Las tensiones de tecnología de EE. UU. China han resultado en aumento del escrutinio regulatorio para inversiones transfronterizas.

Área de restricción de inversión	Cuerpo regulador	Impacto en Douyu
Inversión extranjera	CFIUS (EE. UU.)	Aumento limitado de capital en alta mar
Transferencia de tecnología	Ministerio de Comercio chino	Controles de exportación de tecnología más estrictas

El impulso del gobierno para la autosuficiencia tecnológica e innovación doméstica

La iniciativa "Hecha en China 2025" de China prioriza el desarrollo de la tecnología interna con Financiación del gobierno sustancial.

• Inversión nacional de 1.4 billones de dólares en sectores de tecnología nacional
• Incentivos fiscales para plataformas de tecnología local
• Apoyo político preferencial para la innovación indígena

Douyu International Holdings Limited (Doyu) - Análisis de mortero: factores económicos

Desafiando el entorno económico en el sector tecnológico de China

El desempeño financiero de Douyu refleja el desafiante panorama económico en el sector tecnológico de China. En el tercer trimestre de 2023, la compañía reportó ingresos totales de $ 236.1 millones, lo que representa una disminución año tras año de 7.1%.

Métrica financiera	P3 2023	Cambio año tras año
Ingresos totales	$ 236.1 millones	-7.1%
Pérdida neta	$ 31.5 millones	-15.2%
Usuarios activos mensuales promedio	43.2 millones	-5.3%

Disminuir los ingresos y la rentabilidad en el mercado de transmisión en vivo

El mercado de transmisión en vivo en China ha experimentado presiones económicas significativas. Los indicadores financieros de Douyu demuestran esta tendencia:

• El margen bruto disminuyó al 21.7% en el tercer trimestre de 2023
• Los gastos operativos fueron de $ 83.4 millones, una reducción del 12.5% ​​del trimestre anterior
• Los ingresos de transmisión en vivo cayeron un 8,3% año tras año

Intensa competencia de plataformas rivales

Plataforma	Cuota de mercado	Ingresos anuales
Douyu	32.5%	$ 942.3 millones
Huya	35.7%	$ 1.1 mil millones
Bilibili	21.3%	$ 813.6 millones

Impacto potencial de la desaceleración económica

El gasto en entretenimiento digital de China mostró un 4.2% de contracción en 2023, impactando directamente en las fuentes de ingresos de Douyu. Los indicadores económicos clave sugieren desafíos continuos del mercado:

• El gasto discretario del consumidor disminuyó en un 3,7%
• El crecimiento del mercado de entretenimiento digital se desaceleró a 2.1%
• Los ingresos por publicidad en el sector de transmisión en vivo disminuyeron en un 6.5%

Douyu International Holdings Limited (Doyu) - Análisis de mortero: factores sociales

Cambiando las preferencias del consumidor en el entretenimiento en línea

Según Statista, el mercado chino de transmisión en vivo alcanzó 456.6 mil millones de yuanes en 2022, con una tasa de crecimiento proyectada de 7.9% anual. La base de usuarios de Douyu comprende 186.2 millones de usuarios mensuales activos a partir del tercer trimestre de 2023.

Segmento de mercado	Porcentaje de usuario	Tiempo de reloj promedio
Transmisiones en vivo de juegos	62.4%	2.3 horas/día
Contenido no de juego	37.6%	1.7 horas/día

Los cambiantes hábitos de consumo de medios de la demografía más joven

Nielsen informa que el grupo de edad 18-34 representa el 73.5% de la base de usuarios de Douyu. El consumo de transmisión móvil aumentó en un 42.6% en 2022.

Grupo de edad	Porcentaje de usuarios	Tiempo diario de transmisión
16-24 años	41.3%	3.1 horas
25-34 años	32.2%	2.6 horas

Creciente aceptación de la transmisión en vivo como entretenimiento convencional

La investigación de PWC indica el mercado de entretenimiento de transmisión en vivo en China se expandió a 737.5 mil millones de yuanes en 2023, con 67.3% de penetración en las redes sociales entre las poblaciones urbanas.

Influencia de las redes sociales Influencers Culture Driving Platform Engagement

Los datos del centro de marketing de influencia muestran que los principales streamers de Douyu generan ingresos mensuales entre $ 50,000 y $ 250,000. La plataforma aloja 12.500 creadores de contenido profesional.

Categoría de streamer	Espectadores mensuales	Ingresos promedio
Streamers de nivel superior	500,000-2,000,000	$150,000-$250,000
Streamers de nivel medio	100,000-500,000	$30,000-$80,000

Douyu International Holdings Limited (Doyu) - Análisis de mortero: factores tecnológicos

Inversión continua en tecnología de transmisión y recomendaciones impulsadas por la IA

Douyu invirtió $ 43.2 millones en investigación y desarrollo para tecnologías de transmisión en 2023. El algoritmo de recomendación de IA de la compañía procesa 2.700 millones de interacciones de usuario diariamente, con una tasa de precisión de coincidencia de contenido del 78%.

Categoría de inversión tecnológica	Gasto anual ($ M)	Métrica de rendimiento tecnológico
Sistemas de recomendación de IA	18.6	2.7B interacciones diarias del usuario
Infraestructura de transmisión	24.7	99.94% de confiabilidad de tiempo de actividad

Capacidades avanzadas de transmisión interactiva en tiempo real

Douyu admite la transmisión 4K con latencia reducida a 0.3 segundos. La plataforma maneja 12.5 millones de transmisiones en vivo concurrentes con capacidades de interacción en tiempo real.

Integración de tecnologías emergentes

• Ingresos de regalos virtuales: $ 127.3 millones en 2023
• La integración AR alcanzó 3.2 millones de usuarios activos mensuales
• Volumen de transacción del elemento virtual: 487 millones de transacciones

Desarrollo de experiencias de transmisión móvil primero

La transmisión móvil cuenta para el 81.5% del tráfico total de la plataforma. Las estadísticas de descarga de la aplicación móvil alcanzaron 142.6 millones en 2023, con una base promedio de usuarios activos diarios de 36.4 millones de usuarios móviles.

Métrica de transmisión móvil	2023 datos
Porcentaje de tráfico móvil	81.5%
Descargas de aplicaciones móviles	142.6 millones
Usuarios activos móviles diarios	36.4 millones

Douyu International Holdings Limited (Doyu) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones chinas de ciberseguridad y protección de datos

Métricas de cumplimiento de la ley de ciberseguridad:

Categoría de regulación	Requisito de cumplimiento	Estado de Douyu
Localización de datos	Almacenar datos de usuarios dentro del territorio chino	100% Cumplimiento
Protección de la información personal	Consentimiento de los usuarios para la recopilación de datos	Implementados mecanismos de consentimiento obligatorio
Evaluación de seguridad de red	Auditoría de seguridad de terceros anual	Realiza evaluaciones anuales obligatorias

Navegar requisitos legales de moderación de contenido complejo

Marco legal de moderación de contenido:

• Cumplimiento de las regulaciones de la administración del ciberespacio de China (CAC)
• Mecanismos de filtrado de contenido en tiempo real
• Equipo de moderación 24/7 de 350 especialistas en cumplimiento legal

Tipo de contenido	Tasa de cumplimiento de moderación	Riesgo de penalización legal
Contenido políticamente sensible	Tasa de eliminación del 99.8%	Bajo
Transmisión inapropiada	Tasa de eliminación del 97.5%	Medio

Desafíos potenciales de los problemas de protección de la propiedad intelectual

Métricas de protección de IP:

Categoría de IP	Protección registrada	Gastos legales anuales
Tecnología de la plataforma de transmisión	37 patentes registradas	$ 2.1 millones
Acuerdos de creador de contenido	12.500 contratos de creador activo	$ 1.5 millones en gestión de contratos legales

Restricciones regulatorias en los juegos y contenido de transmisión en vivo

Cumplimiento de la regulación del contenido del juego:

Aspecto regulatorio	Detalle de restricción	Medida de cumplimiento de douyu
Límite de tiempo de juego menor	Menores de 18 años: máximo 1.5 horas/día	Sistema de verificación de edad implementado
Clasificación de contenido de juegos	Restricciones estrictas basadas en género	Algoritmo de clasificación de contenido automatizado

Douyu International Holdings Limited (Doyu) - Análisis de mortero: factores ambientales

Aumento del enfoque en la eficiencia energética en las operaciones de los centros de datos

Métricas de consumo de energía del centro de datos de Douyu a partir de 2023:

Métrico	Valor	Unidad
Consumo total de energía	42.6	Millones de kWh
Efectividad del uso del poder (Pue)	1.58	Relación
Uso de energía renovable	18.3	Porcentaje

Reducción potencial de la huella de carbono a través de tecnologías de transmisión de nubes

Datos de emisiones de carbono para la infraestructura de transmisión de Douyu:

Categoría de emisión	2022 emisiones	2023 Reducción proyectada
Emisiones de carbono del centro de datos	24,500	12.4%
Emisiones de infraestructura de red	15,700	8.9%

Conciencia creciente de los desechos electrónicos en plataformas tecnológicas

Estadísticas de gestión de residuos electrónicos:

• Residuos electrónicos totales generados en 2023: 6.2 Toneladas métricas
• Tasa de reciclaje: 47.5%
• Objetivo de reducción de desechos electrónicos para 2024: 22%

Iniciativas de sostenibilidad en el desarrollo de la infraestructura digital

Desglose de inversión de sostenibilidad:

Iniciativa	Monto de la inversión	Línea de tiempo de implementación
Actualización del centro de datos verdes	$ 3.6 millones	2024-2025
Reemplazo del servidor de eficiencia energética	$ 2.1 millones	2024
Adquisición de energía renovable	$ 1.8 millones	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.