Joyy’s Nasdaq-listed shares rebounded 17 per cent following the rebuttal statement. Photo: Bloomberg Joyy’s Nasdaq-listed shares rebounded 17 per cent following the rebuttal statement. Photo: Bloomberg
Joyy’s Nasdaq-listed shares rebounded 17 per cent following the rebuttal statement. Photo: Bloomberg

Chinese social media Joyy refutes Muddy Waters’ fraud claim, saying its metrics are ‘commonly used’ by live-streaming industry

  • Livestreaming has become a key revenue engine for companies in the internet sector, Joyy said in a statement
  • The firm tried to reassure investors by pointing to its solid cash balance and cash flow generation, adding that it would proceed with a US$300 million share buy back

Topic |   China technology
Joyy’s Nasdaq-listed shares rebounded 17 per cent following the rebuttal statement. Photo: Bloomberg Joyy’s Nasdaq-listed shares rebounded 17 per cent following the rebuttal statement. Photo: Bloomberg
Joyy’s Nasdaq-listed shares rebounded 17 per cent following the rebuttal statement. Photo: Bloomberg
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