DouYu International Holdings Limited, a leading game-focused live-streaming platform in China and a pioneer in the eSports value chain, announced that its board of directors has appointed Ms. Simin Ren as Co-Chief Executive Officer, effective immediately. This appointment follows the leadership transition under the interim management committee since November 2023, which has now been dissolved.
On the same day, the Company's board of directors approved and declared a special cash dividend of US$9.94 per ordinary share, or US$9.94 per American Depositary Share ("ADS"), to holders of record of ordinary shares and ADSs as of the close of business on February 10, 2025.
The total cash dividends to be distributed will amount to approximately US$300 million, with payment expected around February 20, 2025, to holders of ordinary shares and ADSs. ADS holders will receive their dividends through JPMorgan Chase Bank, N.A., the depositary, by the terms of the deposit agreement.
Ms. Simin Ren, Co-CEO of DouYu, commented, "We remained committed to delivering value to our shareholders. As part of our strategic cash management and allocation, our Board of Directors has approved a special cash dividend of approximately US$300 million. Given our current cash position and strategic business plan, we continue to focus on improving our operational efficiency and endeavor to overcome the challenges of the macroeconomic and operating environment to support the Company's long-term development".