DouYu International Holdings Ltd

Corporate History We commenced operations and launched our livestreaming platform in 2014 with the establishment of Guangzhou Douyu. Wuhan Douyu was established in May 2015. In February 2016, Guangzhou Douyu and Wuhan Douyu entered into an asset and business transfer agreement, pursuant to which Guangzhou Douyu transferred all of its business operations and assets to Wuhan Douyu (the 2016 Wuhan Douyu Restructuring ). In February 2016, Wuhan Douyu, Wuhan Ouyue, the successor of Zhejiang Ouyue, which was acquired by Mr. Shaojie Chen in November 2015, and Mr. Chen entered into a series of contractual arrangements, by which Wuhan Douyu may exert control over Wuhan Ouyue and consolidate Wuhan Ouyue’s financial statements. In May 2018, such contractual arrangements were terminated and replaced by contractual arrangements between Douyu Yule, Wuhan Ouyue and Mr. Chen. 81 Table of Contents In June 2016, Yuxing Tianxia was incorporated in the PRC by Wuhan Douyu. This entity focuses on entering into business contracts with streamers. In 2018, we undertook an equity restructuring in order to redomicile our business from the PRC to the Cayman Islands (the 2018 Restructuring ). We were incorporated in the Cayman Islands as the holding company of the Group, and through our wholly owned subsidiaries in the PRC, we entered into a series of contractual arrangements ( VIE agreements ) with Wuhan Douyu, Wuhan Ouyue, and their respective shareholders. As a result of these contractual arrangements, we are considered the primary beneficiary of, Wuhan Douyu and Wuhan Ouyue for accounting purpose.