Joyou AG / Key word(s): Quarter Results/Miscellaneous 20.05.2015 21:35 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Hamburg, May 20, 2015 - The management board of Joyou AG (the "Company") notifies that based on the current status of the ongoing investigations at subsidiaries of the Company, in the exercise of proper judgment, it must be assumed that a loss of more than half of the registered share capital of the Company has occurred. This loss is mainly due to an expected extraordinary write-down on the shareholding in Hong Kong Zhongyu Sanitary Technology Ltd. For this reason, the management board of the Company will convene an extraordinary shareholders' meeting without undue delay and notify the shareholders' meeting of the loss of half of the registered share capital pursuant to Section 92(1) of the German Stock Corporation Act. The Company also announces that it will postpone the publication of its quarterly financial report for the first quarter of 2015, previously scheduled to be published on May 22, 2015. The management board is currently reviewing whether, based on the status of the ongoing investigations, the management board is required to file an application for the opening of insolvency proceedings. The Management Board --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Joyou AG Gasstrasse 18, Haus 6A 22761 Hamburg Germany ISIN: DE000A0WMLD8 WKN: A0WMLD For further information, please contact: Matthias Poth c/o HERING SCHUPPENER [email protected] +49-172-2756012 (mobile) +49-69-921874680 (land line) 20.05.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Joyou AG Gasstraße 18, Haus 6 A 22761 Hamburg Germany Phone: Fax: E-mail: [email protected],[email protected] Internet: www.joyou.de ISIN: DE000A0WMLD8 WKN: A0WMLD Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------