Joyy Inc. (China)

The Company is principally engaged in operating an online social platform in the People's Republic of China.
The Company established Dokhi Investments Limited in the British Virgin Islands, or BVI, in July 2006 and changed its name to Duowan Limited in September 2006. In August 2006, we established Double Top Limited, which is wholly owned by Dokhi Investments Limited, in Hong Kong and changed its name to Duowan (Hong Kong) Limited in September 2006. In April 2007, the Company established Guangzhou Duowan Information Technology Co., Ltd., or Guangzhou Duowan, which was wholly owned by Duowan (Hong Kong) Limited. Guangzhou Duowan entered into a series of contractual arrangements with Guangzhou Huaduo and its shareholders, which were subsequently amended solely to reflect updated shareholder equity interests in Guangzhou Huaduo, through which Guangzhou Duowan exercised effective control over the operations of Guangzhou Huaduo.
The Company engages users in real-time online group activities through voice, video, and text on personal computers and mobile devices; and enables users to create and organize groups of various sizes to discover and participate in a range of activities, including online games, music activities, education, live game broadcasting, and conference calls. Its principal product is YY Client, which enables users to engage in live interactions online; and provides access to user-created online social activities groups. It also offers Web-based YY that enables users to conduct real-time interactions on the Web without any downloads or installations; and Mobile YY, a mobile application. In addition, the company operates YY.com, a community-driven portal site that offers visitors and users a centralized location to learn about, navigate, and access the offerings on company s platform; and Duowan.com, a game media Website that provides information on online games and other resources for users and online game players. Further, the company operates 100 Education platform, which provides various exam preparation classes, such as Test of English as a Foreign Language (TOEFL) and International English Language Testing System (IELTS) preparation courses to students, as well as 100.com, a dedicated Web portal to its education platform.
YY's platform consists of YY Client, the YY.com and Duowan.com Web portals and Mobile YY. The Company sells online advertisements to major game developers in the form of banners, text-links, videos, logos and buttons on Duowan.com.
HISTORY
2005: The Company commenced operations in April 2005 with the establishment of Guangzhou Huaduo in China. Guangzhou Huaduo later became one of its PRC consolidated affiliated entities through the contractual arrangements described below.
2011: The Company was incorporated in the Cayman Island.