$287 Million Nasdaq-Listed China Gaming Livestream Platform DouYu International Chairman Chen Shaojie Detained by China Police, China Cybersecurity Regulator Criticized DouYou for Pornography & Gambling Information, DouYu International Founded in 2014 Has More than 50 Million Monthly Active Users
24th November 2023 | Hong Kong
Nasdaq-listed (23/11/23: $287 million market value) China gaming livestream platform DouYu International Chairman Chen Shaojie had been detained by China police. In May 2023, China cybersecurity regulator had criticized DouYou for pornography & gambling Information. DouYu International is founded in 2014, and has more than 50 million monthly active users. DouYu International Official Statement: “DouYu International Holdings Limited (“DouYu” or the “Company”) (Nasdaq: DOYU) today announced that the Company was informed on November 20, 2023 that Mr. Shaojie Chen, the Chief Executive Officer and the Chairman of the board of the directors (the “Board”) of the Company, was arrested by the Chengdu police on or about November 16, 2023. The Company has not received any official notice of the investigation against Mr. Chen or the reasons for Mr. Chen’s apparent arrest. The Company cannot comment on the nature or expected timeline of subsequent legal proceedings, if any, that may follow. Mr. Chen’s ongoing detention and any subsequent related legal proceedings and enforcement actions against the parties involved may have a material adverse impact on the Company’s reputation, business and results of operations. The Company maintains normal operation of its business and remains committed to upholding regulatory compliance on its platform. The Board and management will supervise the operations of the Company and work on contingency plans in response to Mr. Chen’s arrest and related investigations.”
“ $287 Million Nasdaq-listed China Gaming Livestream Platform DouYu International Chairman Chen Shaojie Detained by China Police, China Cybersecurity Regulator Criticized DouYou for Pornography & Gambling Information, DouYu International Founded in 2014 Has More than 50 Million Monthly Active Users “
About DouYu International Holdings Limited
Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic contents, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through integration of livestreaming, video, graphics, and virtual communities with a primary focus on games, especially on eSports. This enables DouYu to continuously expand its user base and enhance its user experience. For more information, please see http://ir.douyu.com/.
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