北斗星通：2021年第三季度报告

北方华创：2021年第三季度报告

艾媒研报 |斗鱼 (DOYU.US)：运营成本难降低，电竞迎来新机遇

本报告涉及企业/品牌包括：摩根士丹利、摩根大通、美银美林、奥飞娱乐、红杉资本、招银国际、腾讯、凤凰资本、NeoTV、优酷、土豆、战旗TV、虎牙TV

iiMedia Research(艾媒咨询)数据显示，2018年中国游戏直播用户规模达2.63亿人，增速为27.1%，游戏直播市场2018年实际销售收入为74.4亿元，同比增速高达107.20%。电子竞技的发展将为游戏直播行业注入新动力，预计2019年用户规模将突破3亿，随着游戏直播付费模式逐渐成熟，市场规模也将保持高速增长。斗鱼作为中国老牌游戏直播平台，在资本的鼎立支持下逐渐成长为行业寡头，业绩方面较以往有了较大改善，2018年营收达36.54亿元，同比增长93.74%，归母净利润-8.83亿元，亏损幅度收窄。2019年斗鱼再次开启IPO之路，于4月22日正式向美国证券交易委员会递交招股书，预计融资规模5亿美元，款项主要用于引入优质电竞内容、加强技术实力以及提升品牌效应。艾媒咨询分析师认为，斗鱼IPO虽然能助力公司快速步入发展的新阶段，但其面临的营收模式单一、内容竞争壁垒不强、运营成本难降低、监管风险等挑战依然严峻。

According to iiMedia Research, the number of live games users in China reached 263 million in 2018, a growth rate of 27.1%. The actual sales revenue of the game live broadcast market in 2018 was 7.44 billion yuan, a year-on-year growth rate of 107.20%. The development of eSports will inject new impetus into the game live broadcast industry. It is expected that the user scale will exceed 300 million in 2019. As the game live paying model matures, the market size will also maintain rapid growth. As the old-fashioned game live broadcast platform in China, DouYu has gradually grown into an industry oligarch with the support of capital. The performance has been greatly improved compared with the past. The revenue in 2018 reached 3.654 billion yuan, an increase of 93.74% over the same period of last year. 883 million yuan, the loss has narrowed. In 2019, DouYu once again opened the IPO road. On April 22, it officially submitted a prospectus to the US Securities and Exchange Commission. The estimated financing scale is 500 million US dollars. The funds are mainly used to introduce high-quality e-sports content, strengthen technical strength and enhance brand effect. iiMedia Consulting analysts believe that although the IPO can help the company to quickly enter a new stage of development, its challenges of single revenue mode, weak content competition barriers, difficult to reduce operating costs, and regulatory risks remain severe.

黑龙江北大荒农业股份有限公司2021年第三季度报告

北京巴士传媒股份有限公司2021年第三季度报告

北京城乡2021年第三季度报告

北京银行股份有限公司2021年第三季度报告

ST北文：2021年第三季度报告

北汽蓝谷新能源科技股份有限公司2021年第三季度报告

上海北特科技股份有限公司2021年第三季度报告