Huajui Group Announces New CEO: Li Ting Takes the Helm, BIGO Business Key

Huajui Group Announces New CEO: Li Ting Takes the Helm, BIGO Business KeyOn August 29th, Huajui Group announced a major personnel change. Li Ting, the company's Chief Operating Officer, has replaced Li Xue Ling as Chairman and CEO of Huajui Group

Huajui Group Announces New CEO: Li Ting Takes the Helm, BIGO Business Key

On August 29th, Huajui Group announced a major personnel change. Li Ting, the company's Chief Operating Officer, has replaced Li Xue Ling as Chairman and CEO of Huajui Group. Li Xue Ling will remain on the Huajui Group board and provide strategic guidance and support.

Li Ting joined Huajui Group in 2011 and became Chief Operating Officer in 2016. She has played a significant role in the company's day-to-day management and has been involved in numerous important strategic transitions. She joined the Group Board of Directors in November 2023. Prior to joining Huajui Group, Li Ting worked at Tencent.

This leadership change marks the first CEO switch for Huajui Group in over seven years. Previously, Huajui Group was chaired by Lei Jun, founder of Xiaomi, with Li Xue Ling as CEO. In August 2016, Lei Jun stepped down as chairman, with Li Xue Ling taking over. Chen Zhou, then CEO of YY, replaced Li Xue Ling as CEO of the company. However, Chen Zhou left Huajui Group less than a year later, leading to Li Xue Ling once again assuming the CEO role.

Sources suggest that this major management adjustment is primarily aimed at strengthening the management of the BIGO business and further solidifying the company's cash flow stability.

According to Huajui Group's latest financial report, the company's revenue for the second quarter of 2024 was $565 million, with net profit attributable to controlling shareholders reaching $52.1 million, compared to $155 million in the same period last year. Non-GAAP net profit attributable to controlling shareholders and common shareholders was $74 million, compared to $97.3 million in the same period of 2023.

Huajui Group is the former parent company of Huya and YY. After selling Huya and YY to Tencent and Baidu in 2020, Huajui Group has focused on pan-entertainment social as its core business. Currently, overseas operations have become the pillar of Huajui Group, with core products including BigoLive live streaming, Likee short video, and Hago interactive social.

Li Ting's appointment as CEO signifies a new development phase for Huajui Group. It remains to be seen how she will steer the company through current market challenges and capitalise on new opportunities. The future success of Huajui Group under Li Ting's leadership, including its ability to regain momentum and achieve sustained growth, will require time to evaluate.

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