DouYu Confirms Arrest Of CEO Shaojie Chen By Chengdu Police

(RTTNews) - DouYu International Holdings Limited (DOYU) announced that the company was informed on November 20, 2023 that Shaojie Chen, CEO and the Chairman of the board, was arrested by the Chengdu police on or about November 16, 2023. The company said it has not received any official notice of the investigation against Chen or the reasons for the arrest.

The Board and management will supervise the operations of DouYu International, and work on contingency plans in response to Chen's arrest and related investigations.

DouYu noted that Chen's ongoing detention and any subsequent related legal proceedings and enforcement actions against the parties involved may have a material adverse impact on the company's reputation, business and results of operations.