Tencent-Backed DouYu Stock Soars On Special Cash Dividend, New Co-CEO Appointment: Retail Ecstatic
DouYou’s new Co-CEO said the company continues to focus on improving its operational efficiency and endeavor to overcome the challenges of the macroeconomic and operating environment

DouYu International Holdings ($DOYU) shares jumped on Thursday with nearly 12 times their average volume following an announcement concerning a special cash dividend and the appointment of a new co-CEO.
Wuhan, China-based DouYu, backed by Tencent Holdings ($TCEHY EHY), provides a PC and mobile app platform for interactive games and live streaming services.
The company said its board approved a special cash dividend of $9.94 per American Depository Share (ADS), payable to shareholders of record as of the close of business on Feb. 10.
The company said the aggregate amount of cash dividends will be about $300 million, and they will be paid on Feb. 20.
DouYu also said its board appointed Simin Ren as co-CEO, effective Thursday. Her appointment was made as part of the transition under the leadership of the interim management committee that has been heading the company since November 2023. The company also noted that the interim management committee now stood dissolved.
Chen Shaojie, who served as CEO of the company, reportedly went missing late last year.
New Co-CEO Ren said, “Given our current cash position and strategic business plan, we continue to focus on improving our operational efficiency and endeavor to overcome the challenges of the macroeconomic and operating environment in order to support the Company's long-term development."

On Stocktwits, retail sentiment toward DouYou trended in ‘extremely bullish’ (96/100) territory versus ‘neutral’ a week ago, hitting the highest level in a year. Message volume also spiked to ‘extremely high’ levels.
A retail watcher of the stock expects the shares to rise in the run-up to the record date.
Another suggested that stock should be priced at least at $21.28 per share in the wake of the special dividend.
DouYu stock soared 145% in 2024 and has seen some volatility in January.
At last check, the stock was up 29.05% at $15.86, marking the highest level since Aug. 30.
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