Briefing: Game live-streaming platform Douyu’s NYSE IPO set for July 17

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斗鱼计划下周三上市,已实现首次季度扭亏为盈 – IPO Zaozhidao

What happened: Live-streaming platform Douyu will go public on the New York Stock Exchange on July 17, reported IPO Zaozhidao, a Chinese financial blog. The news follows an update Douyu filed July 2 with the US Security and Exchange Commission (SEC) to include its earnings results for the first quarter of 2019. The company recorded a 123.4% year-on-year increase in revenue and booked RMB 18 million in net profit in Q1 2019. Previously, IFRAsia reported that Douyu could launch its IPO this week.

Why it’s important: Douyu filed its IPO application to the SEC in April 2019 after it had been rumored to be preparing for a US IPO for more than a year. The company originally planned to start its roadshow on May 6 but decided to postpone due to market turbulence, according to IPO Zaozhidao. Douyu’s strong performance in the first quarter suggests that it is likely to maintain its lead over its rival, US-listed Huya, with the additional funding from its IPO.