JOYY Closes Sale of YY Live

Group 1 - JOYY Inc. has entered into agreements with Baidu, Inc. for the sale of its video-based entertainment live streaming business in mainland China, known as YY Live, for an aggregate purchase price of approximately US$2.1 billion in cash [1] - The company previously received approximately US$1.86 billion in February 2021 and has now received an additional cash consideration of approximately US$240 million [1] Group 2 - JOYY is a leading global technology company focused on enriching lives through technology, operating several social products including Bigo Live, Likee, and Hago [2] - JOYY's American Depositary Shares (ADSs) have been listed on NASDAQ since November 2012 [2]