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(Yicai Global) Nov. 20 -- Douyu became the first domestic network broadcast platform in China to complete D-round financing led China Merchants Bank Co. [HK:3968; SHA:600036] subsidiary CMB International Capital Corp. and supported Nanshan Capital, during the first half of this year, BCC News Network reported.
The financing means that the live broadcast platform has received state-owned capital investment.
The firms also revealed it was the first fully profitable company in the sector and was actively making investments.
Douyu has invested in 11 live broadcasting and game-related companies since the second half of 2016, with stakes ranging from 4.81 percent to 49 percent. The firm already completed more than CNY2.2 billion of financing.
Douyu is the largest live game-broadcast platform in China and internet giant Tencent Holdings Ltd. [HKG:0700] is a stakeholder. The firm nearly 30 million daily active users and 200 million monthly active users, accounting for over 70 percent of the niche market.