WUHAN,
China, Dec. 28, 2023 /PRNewswire/ -- DouYu
International Holdings Limited ("DouYu" or the "Company") (Nasdaq:
DOYU), a leading game-centric live streaming platform in
China and a pioneer in the eSports
value chain, today announced that its board of directors and
management have authorized a share repurchase program under which
the Company may repurchase up to US$20
million of its ordinary shares in the form of American
depositary shares during a period of up to twelve months commencing
on January 1, 2024, subject to the
relevant rules under the Securities Exchange Act of 1934, as
amended (the "Exchange Act").
The Company's share repurchases may be made from time to time on
the open market at prevailing market prices, in open-market
transactions, privately negotiated transactions or block trades,
and/or through other legally permissible means, depending on market
conditions and in accordance with the applicable rules and
regulations. The timing and conditions of the share repurchases
will be subject to various factors including the requirements under
Rule 10b-18 and Rule 10b5-1 of the
Exchange Act. The Company's board of directors will review the
share repurchase program periodically and may authorize adjustments
to its terms and size or suspend or discontinue the program. The
Company expects to utilize its existing funds to fund repurchases
made under this program.
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 enhance its user experience and
pursue long-term healthy development. For more information, please
see http://ir.douyu.com/.
Safe Harbor Statement
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
