56,000 mining machines fall into the “Rashomon”: Yibang International reported Huatie’s emergency in real name

On August 8, Ebon International (EBON.US), a US-listed company, held a press conference in Hangzhou.

At the meeting, the company’s chairman Hu Dong publicly stated that he had reported to the Zhejiang Securities Regulatory Bureau in real name last Friday (August 6) that China Railway, an A-share listed company, was suspected of serious financial fraud and serious information disclosure violations, as well as the actual controllers Hu Danfeng and His spouse, Pan Qian, was suspected of violations such as the embezzlement and hollowing of the assets of listed companies by a huge amount of duty, and published a report of more than 100 pages.

Among them, the most severe allegation is that “the actual controller and spouse are suspected of embezzling and hollowing out the assets of the listed company with a huge amount of duty.” Yibang International stated that China Railway Emergency disclosed in the “Announcement on Reply to the Inquiry Letter for the Post-mortem Review of the 2018 Annual Report” that Xinjiang China Railway is engaged in the cloud computing server leasing business and does not engage in the “mining” business itself.

However, after investigation, one of the Bitcoin mining pools, worker ID, Bitcoin revenue, and Bitcoin wallet address corresponding to the mining machine purchased by Xinjiang Huatie belongs to a mobile phone number. The user of this number is Hu Danfeng’s wife, Pan Qian. There are five Bitcoin wallet addresses corresponding to the above mobile phone numbers. Through the Bitcoin blockchain browser query, the number of Bitcoins obtained from mining reached 4418.895748.

On the morning of August 9th, China Railway Emergency Disclosure received a supervisory work letter from the Shanghai Stock Exchange regarding media reports, and at the same time issued a clarification notice, denying the above three allegations. The company mentioned the dispute between Xinjiang China Railway and Yibang Technology. The case “has been in court but has not yet been judged, and the company and other defendants have submitted to the court the core evidence to dismiss all claims of the plaintiff.”



It is reported that the emergency dispute between Ebang International and China Railway has a long history.

In May 2018, Zhejiang Yibang Communication Technology Co., Ltd., a subsidiary of Yibang International, sold 80,000 mining machines to Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd. (hereinafter referred to as “Xinjiang Huatie”), a wholly-owned subsidiary of Huatie Emergency , The price is 403.2 million yuan, but Yibang International said that it has completely delivered 80,000 mining machines, but Xinjiang Huatie still has a balance of 28224 million yuan unpaid.

However, in response to the inquiry letter from the Shanghai Stock Exchange in November 2019, China Railway said in an emergency, “As of the end of December 2018, Xinjiang China Railway has actually received 24,000 cloud computing servers and paid 120.96 million for the goods before July 18, 2018. Yuan…Yibang Technology has not fulfilled the obligation of supplying the remaining 56,000 cloud computing servers to Xinjiang Huatie, and Xinjiang Huatie has no corresponding payment obligation.”

In short, the two parties have disagreements on the ownership of 56,000 mining machines, involving a contract value of 282.2 million yuan.

Both sides insisted on their own words, and the truth fell into the predicament of “Rashomon”.

In December 2020, Ebon Technology filed a lawsuit with the Hangzhou Intermediate People’s Court, bringing Zhejiang Qirui Machinery Equipment Co., Ltd. (the main body after the change of Xinjiang Huatie’s name) and Huatie’s emergency response and company’s actual controller Hu Danfeng to court. The case has been There have been two courts in June this year but the verdict has not yet been decided. The court has frozen some of the emergency bank accounts and equity of subsidiaries of China Railway.

In addition, after being reported by Yibang International’s chairman Hu Dong as suspected of serious financial fraud, China Railway Emergency (603300) started trading on August 9.



Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/56000-mining-machines-fall-into-the-rashomon-yibang-international-reported-huaties-emergency-in-real-name/
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