DouYu International Holdings Limited (DOYU) has seen an increase of about 10% in premarket after reports that one of the biggest shareholders Tencent Holdings Tencent, having 37% shares in the company, wants to take it private. The reason behind this is said to be disagreements between its executives over strategy. Tencent is reportedly in discussion with investment banks about partnering with at least one private equity firm. However, the last trading session closed at $2.21 with a decrease of 1.78%.
Changes in Board of Directors by DOYU – What’s up?
DOYU announced certain changes in the Board of Directors on 7th December 2021. Mr. Wenming Zhang has resigned as a director and co-chief executive officer of DOYU. Ms. Yang Deng started at DouYu as legal director in August of 2015 and has been vice president of legal affairs since February of 2017. From 2013 to 2015, Ms. Deng worked as a senior in-house lawyer at Vipshop Holdings Limited, China’s largest online discount retailer. Moreover, Ms. Deng formerly worked as a legal specialist for Xunlei Limited which is a Chinese company.
So what?
On behalf of the Board and DOYU, Wenming has been congratulated for his outstanding service. Furthermore, the team congratulates him on his accomplishments and wishes him the best of luck in his future endeavors. Moreover, the firm has happily announced Yang’s appointment as a director and Mingming’s appointment as a member of the Board’s pay, nominating, and governance procedures.
Furthermore, as a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, everyone on the team is dedicated to upholding the highest standards of corporate governance. Last but not least, the business is certain that Yang and Mingming will make a substantial contribution to DouYu’s future growth in their new roles on the Board.
Third Quarter 2021 Financial Results by DOYU– How was the quarter?
DOYU reported third-quarter results on 16th November 2021. The company reported net revenues of US$364.4 million and a gross profit of US$43.2 million. Not only this but a net loss of US$22.3 million has also been reported along with the adjusted net loss of US$11.3 million by DOYU. Lastly, Mobile MAUs climbed to 61.9 million in the third quarter of 2021.
What’s Next?
In the third quarter of 2021, the fundamental operating metrics continued to improve steadily. Moreover, DOYU intends to broaden the gaming genres and content offerings in the future. By leveraging the unique marketing methods, the team will transform DouYu into a manufacturing game-centric content ecosystem.
