 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 its Board of Directors the Board has formed a special committee of independent directors the Special Committee consisting of Mr. Zhaoming Chen, Mr. Xi Cao, Mr. Xuehai Wang and Mr. Zhi Yan. The Special Committee will review and evaluate a previously-announced preliminary non-binding proposal that the Board received on August 10, 2020 from Tencent Holdings Limited, proposing that DouYu and HUYA Inc. Huya NYSE: HUYA enter into a stock-for-stock merger the Proposed Transaction. Pursuant to the Proposed Transaction, each ordinary share of DouYu including ordinary shares represented by American depositary shares held by DouYu shareholders will be exchanged for a to be agreed number of newly issued Class A ordinary shares of Huya. 