DouYu appoints Simin Ren as co-CEO, $9.94 per share special cash dividend

DouYu (DOYU) announced that the company’s board of directors appointed Simin Ren as the company’s co-CEO effective immediately, following the transition under the leadership of the interim management committee since November 2023. With this appointment, the interim management committee has been dissolved. On the same day, the company’s board of directors approved and declared a special cash dividend of $9.94 per ordinary share, or $9.94 per American Depositary Share, to holders of record of ordinary shares and ADSs as of the close of business on February 10. The aggregate amount of cash dividends to be paid will be approximately $300M and is expected to be paid on or around February 20 for holders of ordinary shares and holders of ADSs. Holders of the company’s ADSs will receive the cash dividends through JPMorgan Chase Bank, N.A., the depositary, subject to the terms and conditions of the deposit agreement.