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On the afternoon of August 8, Yibang International held a press conference. The company's chairman Hu Dong stated that he had reported to the Zhejiang Securities Regulatory Bureau last Friday (August 6) that Huatie Emergency (603300, SH) was suspected of serious financial fraud, serious information disclosure violations, and that the actual controller Hu Danfeng and his spouse Pan Qian were suspected of massive embezzlement and hollowing out of the listed company's assets.
On the morning of the 9th, Huatie Emergency issued an urgent clarification, stating that the company did not commit the above-mentioned violations.
It is reported that in 2018, Yibang signed a mining machine sales contract worth 403.2 million yuan with Xinjiang Huatie, a subsidiary of Huatie Emergency, and later a dispute arose between the two parties.
On August 9, Huatie Emergency opened at the limit down. The big guys in the currency circle reported by real name:
Billion-dollar bull stocks suspected of financial fraud, actual controllers hollowing out the company. Ebang International, one of the world's three largest Bitcoin mining machine manufacturers, held a press conference on the 8th, saying that "Huatie Emergency is suspected of serious information disclosure violations, financial fraud, and the actual controller is suspected of huge embezzlement and hollowing out the assets of the listed company."
Hu Dong, chairman of Yibang International, said that he had publicly reported Huatie Emergency to the China Securities Regulatory Commission, Shanghai Stock Exchange and Zhejiang Provincial Securities Regulatory Bureau on August 6, and had sent relevant materials, and urged the regulatory authorities to pay attention.
Earlier in 2018, Yibang signed a mining machine sales contract worth 403.2 million yuan with Xinjiang Huatie, a subsidiary of Huatie Emergency, but a dispute arose between the two parties.
Hu Dong said at the press conference, "According to our tracing through relevant channels, some of the 80,000 mining machines in this batch have mined 4,418.89 bitcoins in one mining pool. Moreover, most of these bitcoins were mined in 2018, and the actual number of bitcoins mined by these mining machines is much more than this. According to the Bitcoin market, this batch of Bitcoin is worth up to 1.8 billion yuan this year and is currently worth 1.2 billion yuan. The mobile phone user who registered the mining account, Bitcoin income and Bitcoin wallet address of this batch of Bitcoins (4,418.89) is Pan Qian, Hu Danfeng's wife."
Ebang International officially went public on the Nasdaq in the United States on June 26, 2020, becoming the world's second listed mining machine manufacturer, and it was in the limelight for a while. Ebang International is an application-specific integrated circuit (ASIC) chip design company and Bitcoin mining machine manufacturer, and its main mining machine sales brand is "Ebit". Its domestic operating entity is Zhejiang Ebang Communication Technology Co., Ltd. According to the financial report, Hu Dong, the founder, chairman of the board and CEO of Ebang International, actually owns 25.1% of the shares, accounting for 87.0% of the voting rights of the company's total issued and outstanding share capital.
Huatie Emergency is one of the bull stocks in the A-share market this year, with a market value of 10 billion yuan. Its stock price has risen by more than 80% this year. It is mainly engaged in equipment leasing business, providing construction maintenance equipment, building support equipment and engineering machinery equipment leasing and supporting services. The company was listed on the Shanghai Stock Exchange in May 2015.
China Railway Emergency clarification:
The company does not have any of the above violations
On the evening of August 8, the Shanghai Stock Exchange issued a regulatory work letter to Huatie Emergency, clarifying the regulatory requirements regarding matters related to media reports. On the morning of the 9th, Huatie Emergency issued an urgent clarification, stating that the company did not commit the above-mentioned violations. Huatie Emergency said that based on its responsible attitude towards investors, the company has quickly conducted an investigation into the above content and verified the relevant facts. The relevant situation is explained as follows:
After verification by the company and confirmation with the actual controller Hu Danfeng and his spouse Pan Qian, the company is not suspected of serious financial fraud, serious information disclosure violations, and the actual controller Hu Danfeng and his spouse Pan Qian are not suspected of massive embezzlement and hollowing out of the listed company's assets.
In addition, the details of the sales contract dispute case between the company, Zhejiang Qirui Machinery Equipment Co., Ltd. and Yibang Technology as stated in the "Announcement on Litigation by Zhejiang Huatie Emergency Equipment Technology Co., Ltd." disclosed by the company on the website of the Shanghai Stock Exchange on January 23, 2021 are as follows:
(1) The case has been heard but has not yet been decided, and the company and other defendants have submitted to the court core evidence to dismiss all the plaintiff's claims;
(2) The case involves the freezing of some of the company's bank accounts and 100% equity interest in its subsidiary Zhejiang Huatie Yushuo Building Support Equipment Co., Ltd. (with an audited net asset of approximately RMB29.82 million as of December 31, 2020), involving total assets of approximately RMB33.13 million, accounting for 0.99% of the company's latest audited net assets, which will not have a significant impact on the company's daily operations;
(3) According to the "Capital Verification Report of Xinjiang Huatie Heng'an Building Safety Technology Co., Ltd." issued by Lixin Accounting Firm, Huatie Heng'an's registered capital of RMB170 million has been fully paid in and its assets are completely independent and can be clearly distinguished from Huatie Emergency's assets. Therefore, the two companies are independent of each other, and Huatie Emergency should not bear joint and several liability for Huatie Heng'an;
(4) The Company held the 18th meeting of the third board of directors on March 26, 2019, which reviewed and approved the Proposal on the Transfer of Equity of Subsidiaries and the Provision for Impairment of Fixed Assets, and transferred 100% of the equity of Huatie Heng'an to an independent third party, Mr. Chen Wanlong, at a price of RMB12.28 million. The Company also completed the industrial and commercial registration procedures for the equity transfer at the Xinjiang Kashgar Municipal Market Supervision Administration on April 24, 2019. The Company has no affiliation with Huatie Heng'an.
(5) In 2019, the company's controlling shareholder Hu Danfeng issued a commitment in the "Reply Announcement of Zhejiang Huatie Construction Safety Technology Co., Ltd. on the Post-audit Inquiry Letter on the 2018 Annual Report" to assume joint and several liability for the losses that the above-mentioned contract dispute may cause to the company. If Huatie Hengan requires Yibang Technology to continue to perform or exercise the right to terminate the contract, which causes economic losses to Huatie Emergency, Hu Danfeng will assume joint and several liability. In summary, this case will not have a significant impact on the overall operation of the listed company.
Dispute arises over the delivery of 56,000 mining machines. Recently, Huatie Emergency was involved in a sales contract dispute. It was not until the media reported it that the company disclosed on August 5 that "the company has noticed that some media have recently reported on the sales contract dispute between the company and Zhejiang Yibang Communication Technology Co., Ltd. (hereinafter referred to as "Yibang Communication"). The company would like to explain that the relevant lawsuit has been heard but has not yet been decided, and the frozen amount involved is small, which will not have a significant impact on the company's daily operations." Ebang Communications, the party in the sales dispute with Huatie Emergency, is the domestic operating entity of Ebang International, and its actual controller is Hu Dong.
When talking about the sales contract dispute between Huatie Emergency and Ebang Communications, we have to mention the listed company's previous mining machine sales business. Huatie Emergency was once known as the largest Bitcoin mining giant in the A-share market. Its former wholly-owned subsidiary Xinjiang Huatie Heng'an Construction Safety Technology Co., Ltd. (hereinafter referred to as "Hatie Heng'an") was mainly involved in this part of the business. Later, due to the continued decline in Bitcoin prices, Huatie Emergency transferred this part of the business.
It is understood that initially in 2018, Huatie Emergency's former wholly-owned subsidiary Huatie Heng'an signed a purchase contract with Yibang Communications, stipulating that Huatie Heng'an would purchase 80,000 cloud computing servers from Yibang Communications with a total contract amount of 403.2 million yuan. However, the listed company actually received 24,000 cloud computing servers, and the remaining 56,000 servers were not received. The two parties had differences over the ownership of the 56,000 cloud computing servers, involving a contract amount of 282.2 million yuan, and disputes arose as a result.
It is worth mentioning that due to the mining machine trading business of its former wholly-owned subsidiary Huatie Hengan, Huatie Emergency and its actual controller Hu Danfeng were warned by the Zhejiang Securities Regulatory Bureau, and Hu Danfeng was also criticized by the Shanghai Stock Exchange. (Daily Economic News) |
