HUYA Inc. announced that Linen Investment Limited has provided a written notice to Huya and JOYY Inc. and exercised its option to acquire 16,523,819 Class B ordinary shares of Huya for an aggregate purchase price of approximately USD 262.6 million in cash from JOYY (the "Transaction"). Concurrently with the closing of the Transaction and with immediate effect, Mr. Lingdong Huang was appointed as a director and the Chairman of the board of directors of Huya, and Mr. Zhi Cheng, Mr. Hai Tao Pu and Mr. Guang Xu were each appointed as a director of Huya. Mr. Lingdong Huang currently serves as a general manager at Tencent's interactive entertainment group and as a director of TJ Sports Culture Development (Shanghai) Co. Ltd. Prior to joining Tencent in 2010, Mr. Huang served on various positions, including as vice president, at The9 Limited from 1999 to 2010. Mr. Zhi Cheng currently serves as the assistant general manager at Tencent. Prior to joining Tencent in 2014, Mr. Cheng served as the project leader at The Boston Consulting Group. Mr. Hai Tao Pu currently serves as a general manager at Tencent and a member of the Listing Committee of the Hong Kong Stock Exchange and General Committee of the Chamber of Hong Kong Listed Companies. Prior to joining Tencent in 2010, Mr. Pu practiced corporate and M&A, capital markets and commercial law at Slaughter and May and Mallesons Stephen Jaques. Mr. Guang Xu currently serves as a general manager at Tencent's interactive entertainment group. Prior to joining Tencent in 2006, Mr. Xu served in the game planning department at Shenzhen Yamido Technology Co. Ltd. from 2004 to 2006.