David Li details large JOYY Inc. (JOYY) Class A and B stakes

Rhea-AI Filing Summary

JOYY Inc. director and major shareholder David Xueling Li filed an initial ownership report showing large holdings of both Class A and Class B common shares. He indirectly owns 156,340,804 Class A shares and two blocks of Class B shares totaling 199,448,382 and 4,319,680 shares through British Virgin Islands entities he controls.

Li also directly holds 4,164,480 Class A shares that were issued upon vesting of restricted share unit awards, which are fully vested as of the reporting date. The filing establishes his combined direct and indirect stake in JOYY’s equity structure.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Li David Xueling

(Last) (First) (Middle)

30 PASIR PANJANG ROAD #15-31A MAPLETREE

BUSINESS CITY

(Street)

117440

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
JOYY Inc. [ JOYY ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A common shares	156,340,804	I	See Footnote(1)
Class B common shares	199,448,382	I	See Footnote(1)
Class B common shares	4,319,680	I	See Footnote(2)
Class A common shares	4,164,480	D(3)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares are directly held by YY One Limited, a British Virgin Islands company. Mr. David Xueling Li is the sole owner and director of YYME Limited, which wholly owns YY One Limited.

2. These shares are directly held by New Wales Holdings Limited, a British Virgin Islands company. Mr. David Xueling Li is the sole owner and director of YYME Limited, which wholly owns New Wales Holdings Limited.

3. Represents 4,164,480 Class A common shares of the Issuer issued upon the vesting of the underlying restricted share unit awards. These restricted share units have been fully vested as of the date hereof.

	/s/ David Xueling Li	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does David Xueling Li’s Form 3 filing show about his JOYY share ownership?

The Form 3 shows that David Xueling Li is a director and major shareholder of JOYY Inc., with sizable indirect and direct holdings in both Class A and Class B common shares, establishing his status as a significant equity owner in the company.

How many JOYY Class A shares does David Xueling Li beneficially own?

He indirectly owns 156,340,804 Class A common shares through an affiliated British Virgin Islands company and directly holds 4,164,480 additional Class A shares that were issued upon vesting of restricted share unit awards, which are fully vested as of the reporting date.

What JOYY Class B share stakes are reported for David Xueling Li?

The filing reports indirect ownership of two Class B common share blocks: 199,448,382 shares and 4,319,680 shares. These are held through separate British Virgin Islands entities that are ultimately controlled by Li via YYME Limited, confirming substantial voting influence in the company.

How are David Xueling Li’s JOYY shares held, directly or indirectly?

Most of his JOYY shares are held indirectly through British Virgin Islands entities, YY One Limited and New Wales Holdings Limited, which are wholly owned by YYME Limited controlled by Li. He also directly holds 4,164,480 Class A shares from vested restricted share units.

What is the significance of the restricted share units mentioned in JOYY’s filing?

The filing states that 4,164,480 Class A common shares were issued to David Xueling Li upon vesting of restricted share unit awards. These restricted share units are fully vested as of the reporting date, converting into direct share ownership and increasing his direct equity stake.

Does JOYY’s Form 3 indicate any recent share purchases or sales by David Xueling Li?

The Form 3 functions as an initial ownership report and lists Li’s direct and indirect holdings in JOYY’s Class A and Class B shares. It does not classify any transactions as explicit purchases or sales, focusing instead on his beneficial ownership positions after vesting events.