On November 7th, Beijing time, it was reported that the stock price of Douyu, a Chinese concept stock, plummeted overnight due to the suspected loss of CEO contact. The lowest intraday drop was 13.35%, reaching a historic low of $0.81. As of the close, Douyu's stock price fell 10.04% to $0.84, with a market value of $268.6 million.
According to a report from E Company in the Securities Times, there are media reports that Chen Shaojie, the chairman and CEO of Douyu's board of directors, has been out of contact recently, and there are also reports that he has been out of contact for 3 weeks. As of press release, the Douyu official has not responded to this matter.
However, according to the Science and Technology Innovation Board Daily, an insider from Douyu told the reporter that the company is currently verifying relevant information internally and is still operating normally, both of which are "very busy".
According to Pengpai News, there are rumors in the industry that Chen Shaojie's loss of contact may be related to the "Changsha Rural Expendables" in the previous Douyu live broadcast room.
According to public media reports, the "Changsha Rural Expendables" used various lottery rules for Douyu to engage in suspected gambling activities. Users can participate in a virtual currency lottery worth 1000 to tens of thousands of yuan by purchasing designated items within a certain period of time. The "Changsha Rural Expendables" then purchased virtual currency in equal amount through third-party channels such as Alipay or "backpackers" to cash in their bonuses.
The live broadcast room often starts gambling and lottery at 10 pm, and the "Changsha Rural Expendable Team" also refers to gambling as the "10 pm Economic Class", with the "start class at 10 pm" as the public secret code. Many teenagers are addicted to it, suffering heavy losses and unable to extricate themselves. Some users made crazy bets of over 300000 yuan in the live streaming room within half an hour.
According to statistics from third-party live streaming data platforms, the "Changsha Rural Expendable Team" achieved a revenue of 177 million yuan and a daily turnover of 13.1767 million yuan in 2020. Among them, the highest income was in March, with a monthly revenue of 74.87 million yuan and a daily revenue of approximately 2.41 million yuan.
However, the "Changsha Rural Death Squad" has been exposed by multiple media outlets for gambling since 2021, and it is currently unavailable for journalists to search on Douyu platforms.
According to Cailian News Agency, in recent years, Chen Shaojie has rarely appeared in public. As the CEO of a listed company, his most recent appearance in public view was attending the company's second quarter financial report analysis conference call in August.
Like most internet enthusiasts, Chen Shaojie, who was born in 1984, is also a legendary figure in the internet industry. I have been obsessed with games since the fifth grade of elementary school, and dropped out of college due to my addiction to games.
At the age of 21, with years of player experience, Chen Shaojie finally turned his hobby into a career and officially entered the gaming industry. At the age of 25, Chen Shaojie sold his co developed "Master" game platform to Shanda Games and earned his first bucket of money in the millions; One year later, he bought the A station of "the originator of the anime website" in China, taking the lead in introducing the bullet screen function in China. In 2014, Chen Shaojie separated the "Live Broadcasting" channel from Station A and renamed it Douyu TV. Its business mainly focuses on live gaming, while covering entertainment, sports, outdoor and other live content.
The period from 2014 to 2016 during which Douyu developed was also a period of strong rise for live streaming platforms. Platforms such as Huya and Panda TV all made their mark during this period. At the same time, the game live streaming platform is also in full swing.
Under the competition of various markets, in 2016, Douyu attracted Tencent Investment, which, along with well-known institutions such as Sequoia Capital, invested in Douyu twice. During the market dividend period, Douyu was supported by multiple resources, gradually stabilizing its position as a leading enterprise in live streaming platforms.
In April 2019, Douyu officially went public in the United States. In October of that year, Chen Shaojie ranked 1507th on the 2019 Hurun Rich List with a fortune of 2.5 billion yuan; In November 2020, his wealth rapidly expanded to 5.5 billion yuan, ranking 34th on the "2020 Hurun 80s self-made rich list".
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