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JOYY Closes Sale of YY Live

1. JOYY sold its China live streaming business (YY Live) for $2.1B cash. The deal builds on a previous $1.86B transaction. 2. Additional $240M cash was received, enhancing liquidity. This strengthens balance sheet dynamics. 3. Divestiture signals strategic refocus away from non-core video entertainment. It may streamline operations and resource allocation.

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Why Bullish?

The additional cash inflow boosts liquidity and clarifies strategic focus. Historically, similar divestitures have led to positive revaluation as companies shed non-core assets.

How important is it?

The transaction involves a significant cash sum and indicates a strategic pivot, which is material for YY. However, potential concerns about lost growth avenues moderate its overall impact.

Why Short Term?

The immediate cash influx is likely to drive near-term investor optimism, though long-term effects depend on utilization of proceeds.

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BIDU
February 25, 2025 06:00 ET  | Source: JOYY Inc. SINGAPORE, Feb. 25, 2025 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global technology company, today announced that JOYY entered into agreements with Baidu, Inc. (NASDAQ: BIDU) (“Baidu”) with respect to the sale of the video-based entertainment live streaming business in mainland China previously owned by the Company (known as YY Live), for an aggregate purchase price of approximately US$2.1 billion in cash. The Company previously received approximately US$1.86 billion in February 2021, and, today, the Company received additional cash consideration of approximately US$240 million. About JOYY Inc. JOYY is a leading global technology company with a mission to enrich lives through technology. JOYY currently operates several social products, including Bigo Live for live streaming, Likee for short-form videos, Hago for multiplayer social networking, an instant messaging product, and others. The Company has created a highly engaging and vibrant user community for users across the globe. JOYY’s ADSs have been listed on the NASDAQ since November 2012. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. JOYY may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JOYY’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in JOYY’s filings with the SEC. All information provided in this press release is as of the date of this press release, and JOYY does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Investor Relations Contact JOYY Inc.Jane Xie/Maggie YanEmail: joyy-ir@joyy.com ICR, Inc.Robin YangEmail: joyy@icrinc.com

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