DouYu International Holdings Limited Announces Share Repurchase Program

Author: DouYu International Holdings Limited / 2023-07-23 23:29 / Source: DouYu International Holdings Limited

DouYu International Holdings Limited Announces Share Repurchase Program

WUHAN,China,Aug. 30,2021 -- DouYu International Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU),a leading game-centriclive streaming platform in China and a pioneer in the eSports value chain,today announced that its board of directors has authorized a share repurchaseprogram under which the Company may repurchase up to US$100 million of its ordinary shares in the form of American depositary shares during aperiod of up to 12 months commencing on August 30,2021,subject to the relevant rules under the Securities Exchange Act of 1934,as amended (the"Exchange Act"),and the Company's insider trading policy.

The Company's share repurchases may be made from time to time on the open market at prevailing market prices,in open-market transactions,privatelynegotiated transactions or block trades,and/or through other legally permissible means,depending on market conditions and in accordance with theapplicable rules and regulations. The timing and conditions of the share repurchases will be subject to various factors including the requirements underRule 10b-18 and Rule 10b5-1 of the Exchange Act. The Company's board of directors or such authorized person(s) designated by the board of directorswill review the share repurchase program periodically and may authorize adjustments to its terms and size or suspend or discontinue the program. TheCompany expects to utilize its existing funds to fund repurchases made under this program.

About DouYu International Holdings Limited

Headquartered in Wuhan,DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in Chinaand a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps,through which users can enjoy immersive andinteractive games and entertainment live streaming. DouYu's platform brings together a deep pool of top live streamers. By providing a sustainablestreamer development system built on advanced technology infrastructure and capabilities,DouYu helps ensure a consistent supply of quality content.Through collaborations with a variety of participants across the eSports value chain,the Company has gained coveted access to a wide variety ofpremium eSports content,which further attracts viewers and enhances user experience. 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 SecuritiesLitigation 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 differmaterially from those contained in any forward-looking statement. In some cases,forward-looking statements can be identified by words or phrases suchas "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or othersimilar expressions. Further information regarding these and other risks,uncertainties or factors is included in the Company's filings with the SecuritiesExchange Commission. All information provided in this press release is as of the date of this press release,and the Company does not undertake anyduty to update such information,except as required under applicable law.

Investor Relations Contact

Doris Li

DouYu International Holdings Limited

Email: ir@douyu.tv

Phone: +1 (646) 224-6934

Robin Yang

ICR,LLC

Email: DouYu.IR@icrinc.com

Phone: +1 (646) 224-6934

Media Relations Contact

Doris Li

DouYu International Holdings Limited