Big money circle reports tens of billions of listed companies: the company’s latest response is here

On the afternoon of August 8, Yibang International held a press conference. Hu Dong, the chairman of the company, said that he had reported to the Zhejiang Securities Regulatory Bureau in real name that Huatie Emergency (603300, SH) was suspected of serious financial fraud on Friday (August 6). , Serious violations of information disclosure and violations such as the actual controller Hu Danfeng and his spouse Pan Qian are suspected of embezzling and hollowing out the assets of listed companies with a huge amount of duty .

In the morning of the 9th, China Railway urgently clarified that the company did not have the above-mentioned violations .

It is reported that in 2018, Yibang and Xinjiang Huatie, an emergency subsidiary of Huatie, signed a 403.2 million yuan mining machine purchase contract, after which the two parties had disputes.

On August 9, the Huatie contingency opened a lower limit.

The real-name report of the big money circle:
Ten billion cattle shares are suspected of financial fraud and the actual controller empties the company

Yibang International, one of the world’s top three Bitcoin mining machine manufacturers, held a press conference on the 8th, alleging that “ Huatie’s emergency response was suspected of serious credit violations, financial fraud, and the actual controller was suspected of embezzling and hollowing out the assets of listed companies in three cases.” Sin ‘.”

Hu Dong, chairman of Yibang International, stated that he had publicly reported Huatie’s emergency to the China Securities Regulatory Commission, Shanghai Stock Exchange and Zhejiang Securities Regulatory Bureau on August 6th . The relevant materials have been sent, and the regulatory authorities are urged to pay attention.

Earlier in 2018, Yibang signed a 403.2 million yuan mining machine purchase contract with Xinjiang Huatie, an emergency subsidiary of China Railway, and disputes occurred between the two parties.

Hu Dong said at the press conference, “According to our traceability through relevant channels, some of these 80,000 mining machines have dug 4,418.89 bitcoins in one of the mining pools. Moreover, this batch of bitcoins is large. Part of it was dug out in 2018. The actual number of bitcoins dug out by this batch of mining machines is much more than this. According to the bitcoin market, the highest value of this batch of bitcoins this year is 1.8 billion yuan. It is worth 1.2 billion yuan. And the mobile phone users who registered for this batch of bitcoin (4418.89) mining accounts, bitcoin earnings, and bitcoin wallet address are Hu Danfeng’s wife, Pan Qian .”

Ebang International, officially listed on the Nasdaq in the United States on June 26, 2020, became the world’s second listed mining machine manufacturer , and it was in the limelight for a while. Yibang International is an application-specific integrated circuit (ASIC) chip design company and a Bitcoin mining machine manufacturer. Its main mining machine sales brand is “Yibit”. The main body of its domestic operation is Zhejiang Yibang Communication Technology Co., Ltd. According to the financial report, Hu Dong, the founder, chairman of the board of directors and CEO of Yibang International, actually owns 25.1% of the shares, accounting for 87.0% of the total voting rights of the company’s issued and circulating shares.

China Railway Emergency is one of the top A-share stocks this year, with a market value of up to 10 billion. The stock price has risen by more than 80% this year . It is mainly engaged in equipment leasing business, providing construction maintenance equipment, construction support equipment and construction machinery equipment leasing And supporting services, the company was listed on the Shanghai Stock Exchange in May 2015.

Huatie emergency clarification :
The company does not have the above violations

On the evening of August 8, the Shanghai Stock Exchange issued an emergency supervisory work letter to China Railway to clarify the supervisory requirements on matters related to media reports.

In the morning of the 9th, China Railway urgently clarified that the company did not have the above-mentioned violations .

Huatie said in an emergency that, based on a responsible attitude to investors, the company has quickly launched an investigation on the above content and verified the relevant facts. The relevant situation is now explained as follows:

After the company’s inspection, and confirmed with the actual controller Hu Danfeng and his spouse Pan Qian, the company has no suspected serious financial fraud, serious information disclosure violations, and the actual controller Hu Danfeng and his spouse Pan Qian are suspected of embezzling and hollowing out the assets of the listed company. Situation .

In addition, in response to the company, Zhejiang Qirui Machinery Equipment Co., Ltd. and Ebond Technology Co., Ltd. disclosed in the “Announcement of Zhejiang Huatie Emergency Equipment Technology Co., Ltd. Involving Litigation” on the Shanghai Stock Exchange website on January 23, 2021 The relevant circumstances of the sale and purchase contract dispute cases are as follows:

1. The case has been in court but has not yet been judged. The company and other defendants have submitted the core evidence to the court to dismiss all claims of the plaintiff;

2. Part of the company’s bank accounts and 100% equity of the subsidiary Zhejiang Huatie Yushuo Construction Support Equipment Co., Ltd. were frozen in the case (as of December 31, 2020, the audited net assets were approximately 29.82 million yuan), involving total assets It is about 33.13 million yuan, accounting for 0.99% of the company’s most recent audited net assets, which will not have a significant impact on the company’s daily operations;

3. According to the “Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd. Capital Verification Report” issued by Lixin Certified Public Accountants, Huatie Hengan has a registered capital of 170 million yuan and its assets are completely independent, which can be clearly distinguished from Huatie’s emergency assets. Therefore, the two companies are independent of each other, and Huatie should not be jointly and severally liable for Huatie Hengan in emergency;

4. The company has held the eighteenth meeting of the third board of directors on March 26, 2019, to consider and approve the “Proposal on Equity Transfer of Subsidiaries and Provision for Devaluation of Fixed Assets”. The price of 10,000 yuan was transferred to an independent third party, Mr. Chen Wanlong, and the registration procedures for the industrial and commercial change of the equity transfer were completed on April 24, 2019 at the Market Supervision Administration of Kashgar City, Xinjiang. The company has no associated relationship with Huatie Hengan;

5. In 2019, the company’s controlling shareholder Hu Danfeng issued a commitment in the “Announcement of Zhejiang Huatie Construction Safety Technology Co., Ltd.’s Reply to the Inquiry Letter for the Post-mortem Review of the 2018 Annual Report”, and made a commitment to the loss that the above-mentioned contract disputes may bring to the company. Undertake joint and several liability for reimbursement. If Huatie Hengan requires Ebon Technology to continue to perform or exercise the right to terminate the contract and cause emergency economic losses to China Railway, Hu Danfeng will bear the joint liability for reimbursement. In summary, the case will not have a significant impact on the overall operation of the listed company .

Disputes arising from the delivery of 56,000 mining machines
Recently, Huatie was caught in a dispute over a sale and purchase contract. It was not until the media reported that the company disclosed on August 5, “The company was concerned about recent media reports that the company had a relationship with Zhejiang Yibang Communication Technology Co., Ltd. (hereinafter referred to as “Yibang”). “Communication”), the company explained that the relevant litigation has been in court but has not yet been judged, and the amount of freezing involved is small, which will not have a significant impact on the company’s daily operations.”

Ebon Communications, the subject of a transaction dispute with China Railways, is officially the main operating entity of Ebon International in China, but Hu Dong is actually the controller.

Speaking of the dispute over the sale and purchase contract between China Railway Emergency and Ebon Communications, I have to mention the previous mining machine trading business of listed companies. China Railway Emergency was once known as the largest Bitcoin mining giant in A shares , and its original wholly-owned subsidiary Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd. (hereinafter referred to as “Huatie Hengan”) is mainly involved in this part of the business. Later, due to the continued decline in the price of Bitcoin, Huatie urgently transferred this part of the business.

It is understood that initially in 2018, Huatie Hengan, the original wholly-owned subsidiary of China Railway Emergency Response, signed a procurement contract with Yibang Communication, which stipulated that Huatie Hengan would purchase 80,000 cloud computing servers from Yibang Communication. The total contract amount was 403.2 million yuan. However, the listed company actually received 24,000 cloud computing servers, and the remaining 56,000 have not been received. The two parties have disagreements over the ownership of 56,000 cloud computing servers, involving a contract amount of 282.2 million yuan , and disputes have begun.

It is worth mentioning that due to the mining machine trading business of the original wholly-owned subsidiary Huatie Hengan, Huatie’s emergency and actual controller Hu Danfeng was warned by the Zhejiang Securities Regulatory Bureau, and Hu Danfeng was also criticized by the Shanghai Stock Exchange .

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/big-money-circle-reports-tens-of-billions-of-listed-companies-the-companys-latest-response-is-here/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Leave a Reply