SCHEDULE 13G: Stonehill Capital Management and Affiliates Disclose 6.3% Stake in JOYY INC.

Stonehill Capital Management LLC and its managing members have disclosed a passive beneficial ownership of 6.3% of JOYY INC.'s Class A Common Shares.

Summary

• Stonehill Capital Management LLC, a Delaware limited liability company, along with its managing members John Motulsky, Jonathan Sacks, Peter Sisitsky, Michael Thoyer, Michael Stern, Samir Arora, and Garrett Zwahlen, have filed a Schedule 13G.
• The filing reports beneficial ownership of 44,915,100 Class A Common Shares of JOYY INC., representing 6.3% of the outstanding class.
• This ownership is held through 2,245,755 American Depositary Shares (ADSs) of JOYY INC., managed by Stonehill Capital Management LLC's funds.
• The reporting persons share both voting and dispositive power over these shares.
• The percentage of ownership is based on 714,663,197 Class A Shares outstanding as of December 31, 2024, as reported by JOYY INC. in a Form 6-K filed on March 21, 2025.
• The acquisition of these securities was not for the purpose of changing or influencing the control of JOYY INC., indicating a passive investment.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, providing neutral information without expressing positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

This document is a beneficial ownership report and does not contain forward-looking statements or guidance from the issuer.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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."

Industry Context

This filing indicates a significant passive investment by an institutional investor in JOYY INC., a company operating in the technology and entertainment sector, likely involved in live streaming or social media platforms. Such disclosures are common for institutional investors accumulating stakes in publicly traded companies.

Stakeholder Impact

• Shareholders: The disclosure of a significant 6.3% stake by Stonehill Capital Management and its affiliates may be viewed positively by other investors, signaling institutional confidence in JOYY INC. or its valuation. It could also indicate potential for future engagement, although the filing states a passive purpose.

Next Steps

• The reporting persons will be required to file amendments to this Schedule 13G if their beneficial ownership percentage significantly changes (e.g., increases or decreases by more than 1% of the class).

Key Dates

Keywords

JOYY INC., Stonehill Capital Management, Schedule 13G, Beneficial Ownership, Class A Common Shares, SEC Filing, Investment Adviser, Passive Investment, Shareholding Disclosure