Multiple sources recently revealed that Chen Shaojie, the Chairman and CEO of Chinese game livestreaming company Douyu, has gone missing for nearly three weeks. As reported by CaiLian Press on November 6, the company confirmed the news of Chen Shaojie’s disappearance when journalists sought verification on the matter.
The last time Chen Shaojie appeared in public was on August 14 of this year, when he attended the second quarter financial report analyst conference call. During the call, while commenting on the performance, Chen stated that the company continues to commit to its core strategy – building a vibrant, game-centered content ecosystem. He added that the steady development of the business will enhance Douyu‘s competitive advantage and leadership position in the domestic game content industry.
According to Douyu‘s second quarter financial report for 2023, the company’s total revenue for the quarter was 1.392 billion yuan, with a net profit of 6.8 million yuan. The adjusted net profit increased by 160.8% year-on-year, reaching 61.4 million yuan.
As one of the two major game live streaming platforms in China, Douyu reached its peak in 2019 and was listed on NASDAQ the same year. However, in the past two years, Douyu‘s operational and financial performance have not been as expected. On the other hand, there were a small number of contents on Douyu‘s platform that were suspected of violating regulations, with some top streamers on the platform accused of breaking the law, some even jailed, damaging the platform’s reputation.
It is suspected that Chen Shaojie is under the authority’s interrogation. On May 8, 2023 according to an announcement from China’s cyberspace regulation authority, in response to serious ecological issues such as pornography and vulgarity on Douyu platform, the Hubei Provincial Internet Information Office dispatched an inspection team to the company to carry out a one-month concentrated rectification supervision.