Douyu Confirmed the Arrest of Its CEO Chen Shaojie

Nov 21, 2023, 20:47pm2023/11/21 20:48:06 Pandaily

On November 21, Nasdaq-listed game livestreaming company Douyu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> announced that the company’s CEO, Chen Shaojie, was arrested by Chengdu police around November 16, 2023. The company has not yet received any formal notice regarding the investigation, neither are they aware of any apparent reasons for the arrest.

Upon the announcement, Douyu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s pre-market stock price plummeted, dropping 10.08% to $0.86 per share. As of the close of November 20, Douyu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s total market value was $308 million.

SEE ALSO: Douyu CEO Chen Shaojie Missing for Nearly Three Weeks

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