WUHAN,
China, March 15, 2024 /PRNewswire/ -- DouYu
International Holdings Limited ("DouYu" or the "Company") (Nasdaq:
DOYU) today announced it plans to change the ratio of its American
depositary shares (the "ADSs") to ordinary shares of the Company
with a par value of US$0.0001 per
ordinary share (each, an "Ordinary Share," and collectively,
the "Ordinary Shares") from ten (10) ADSs representing one
(1) Ordinary Share to one (1) ADS representing one (1)
Ordinary Share (such change, the "ADS Ratio Change").
For DouYu's ADS holders, this ADS Ratio Change will have the
same effect as a one-for-ten reverse ADS split. There will be no
change to DouYu's Ordinary Shares. No action is required by holders
of uncertificated ADSs to effect the ADS Ratio Change, as the
change will be effected on the books of the ADS depositary. Any
fractional ADSs will be sold, and the net proceeds from the sale of
fractional ADSs will be distributed to the holders entitled
thereto.
The effect of the ADS Ratio Change on the ADS trading price on
the Nasdaq Global Select Market is expected to take place at the
open of business on March 28, 2024 (U.S. Eastern Time).
As a result of the ADS Ratio Change, the ADS price is expected to
increase proportionally, although the Company can give no assurance
that the ADS price after the ADS Ratio Change will be equal to or
greater than ten times the ADS price before the change.
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/.
Safe Harbor Statements
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements. Forward-
looking statements involve inherent risks and uncertainties, and a
number of factors could cause actual results to differ materially
from those contained in any forward-looking statement, including
but not limited to the following: the Company's results of
operations and financial condition; the Company's business
strategies; general market conditions, in particular the game live
streaming market; the ability of the Company to retain and grow
active and paying users; changes in general economic and business
conditions in China; the impact of
the COVID-19 to the Company's business operations and the economy
in China and globally; any adverse
changes in laws, regulations, rules, policies or guidelines
applicable to the Company; and assumptions underlying or related to
any of the foregoing. In some cases, forward-looking statements can
be identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the Securities Exchange Commission. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any duty to update such
information, except as required under applicable law.
Investor Relations Contact
In China:
Lingling Kong
DouYu International Holdings Limited
Email: ir@douyu.tv
Tel: +86 (10) 6508-0677
Andrea Guo
Piacente Financial Communications
Email: douyu@tpg-ir.com
Tel: +86 (10) 6508-0677
In the United States:
Brandi Piacente
Piacente Financial Communications
Email: douyu@tpg-ir.com
Tel: +1-212-481-2050
Media Relations Contact
Lingling Kong
DouYu International Holdings Limited
Email: pr_douyu@douyu.tv
Tel: +86 (10) 6508-0677
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SOURCE DouYu International Holdings Limited