Morgan Stanley unit holds 4.0% in DouYu (NASDAQ: DOYU)

Rhea-AI Filing Summary

DouYu International Holdings Ltd ownership update: Morgan Stanley and Morgan Stanley Capital Services LLC report beneficial ownership of 1,194,550 shares representing 4.0% of the class as shown on the cover page dated 03/31/2026. The filing states both entities have "ceased to be the beneficial owner of more than five percent of the class of securities."

Insights

Institutional Ownership Analyst

Large broker-dealer reports sub-5% stake after previously exceeding 5%

Morgan Stanley and Morgan Stanley Capital Services LLC report shared voting and dispositive power over 1,194,550 shares, equal to 4.0% of DouYu's class as of 03/31/2026. The cover-page comments state they "ceased to be the beneficial owner of more than five percent of the class of securities."

The filing is an ownership disclosure; cash-flow treatment and whether holdings changed by transfer or sale are not detailed in the excerpt. Subsequent filings or broker reports would show transactional detail if material.

Compliance & SEC Filings Specialist

Schedule 13G/A amendment records current beneficial ownership and includes joint-filing exhibits

The filing is an amended Schedule 13G (Amendment No. 2) listing joint-filing exhibits 99.1 and 99.2 and notes Item 7 exhibit for subsidiary identification. Signatures are dated 05/11/2026.

This is a routine regulatory disclosure of ownership percentages and reporting-unit allocation under Release No. 34-39538; it does not itself describe trading intent or method.

Key Figures

Shares beneficially owned: 1,194,550 shares Percent of class: 4.0% CUSIP: 25985W204 +3 more

6 metrics

Shares beneficially owned 1,194,550 shares Amount reported with shared voting/dispositive power

Percent of class 4.0% Percent reported on cover page dated 03/31/2026

CUSIP 25985W204 CUSIP for Ordinary Shares / American Depositary Shares

Shared voting power 1,194,550.00 Shared voting power reported for Morgan Stanley

Shared dispositive power 1,194,550.00 Shared dispositive power reported for Morgan Stanley

Signature date 05/11/2026 Filing signed by authorized signatory

Key Terms

Schedule 13G/A, beneficially owned, shared dispositive power, Release No. 34-39538

4 terms

Schedule 13G/A regulatory

"Amendment No. 2 DouYu International Holdings Ltd Ordinary Shares"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"As of the date hereof, Morgan Stanley has ceased to be the beneficial owner"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power regulatory

"Shared Dispositive Power 1,194,550.00"

Release No. 34-39538 regulatory

"In Accordance with the Release No. 34-39538 (January 12, 1998)"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 04:44 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

DouYu International Holdings Ltd

(Name of Issuer)

Ordinary Shares / American Depositary Shares

(Title of Class of Securities)

25985W204

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 25985W204

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,194,550.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,194,550.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,194,550.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

HC, CO

Comment for Type of Reporting Person: As of the date hereof, Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class of securities.

SCHEDULE 13G

CUSIP Number(s): 25985W204

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,194,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,194,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,194,500.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

BD, CO

Comment for Type of Reporting Person: As of the date hereof, Morgan Stanley Capital Services LLC has ceased to be the beneficial owner of more than five percent of the class of securities.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DouYu International Holdings Ltd
(b)	Address of issuer's principal executive offices: 20/F,BUILDING A, NEW DEV, INTER.CTR., NO.473 GUANSHAN AVENUE DISTRICT, WUHAN CITY, HUBEI PROVINCE, F4, 430073
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Ordinary Shares / American Depositary Shares
(e)	CUSIP No.: 25985W204
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 4.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	05/11/2026

Morgan Stanley Capital Services LLC

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	05/11/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).