DouYu announced that the company was informed on November 20 that Shaojie Chen, the CEO and the chairman of the board of the directors of the company, was arrested by the Chengdu police on or about November 16. The company has not received any official notice of the investigation against Chen or the reasons for Chen’s apparent arrest. The company cannot comment on the nature or expected timeline of subsequent legal proceedings, if any, that may follow. 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. The company maintains normal operation of its business and remains committed to upholding regulatory compliance on its platform. The Board and management will supervise the operations of the company and work on contingency plans in response to Chen’s arrest and related investigations.
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