WUHAN,
China, Oct. 25, 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 it has received a written
notification from the staff of the Listing Qualifications
Department of The Nasdaq Stock Market LLC ("Nasdaq") dated
October 24, 2023, indicating that for
the last 30 consecutive business days, the closing bid price of the
Company's American depositary shares (the "ADSs") was below the
minimum bid price of US$1.00 per
share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The
Nasdaq notification letter has no current effect on the listing or
trading of the Company's ADSs on Nasdaq.
Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company
is provided with a compliance period of 180 calendar days, or until
April 22, 2024, to regain compliance under the Nasdaq Listing
Rules. If, at any time during the 180-day compliance period, the
closing bid price of the Company's ADSs is US$1.00 per share or
higher for at least ten consecutive business days, Nasdaq will
provide the Company written confirmation of compliance, and the
matter will be closed.
In the event the Company does not regain compliance by
April 22, 2024, subject to the
determination by the staff of Nasdaq, the Company may be eligible
for an additional 180-day compliance period.
The Nasdaq notification letter does not affect the Company's
business operations, and the Company will take all reasonable
measures to regain compliance.
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 expand its user base and enhance
its user experience. For more information, please see
http://ir.douyu.com/.
Safe Harbor Statements
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