Zhan Ketuan strikes back: Bitmain’s equity will be frozen starting from its Fuzhou subsidiary

Public information on the 17th showed that the Changle Municipal People's Court of Fujian Province froze Beijing Bitmain Technology Co., Ltd.'s RMB 3.6 million equity and other investment rights in Fujian Zhanhua Intelligent Technology Co., Ltd. The freezing period is from December 16, 2019 to December 16, 2021.

An insider told Wu Blockchain that this was Zhan Ketuan’s counterattack. Zhan Ketuan still owns more than 30 companies, 6 of which are located in Fujian Province, Zhan Ketuan’s hometown. Several subsidiaries have dismissed Zhan Ketuan from his position. Zhan Ketuan’s move may be to prevent his rights and interests in Bitmain’s subsidiaries from being affected.

Zhan Ketuan is from Fuzhou. Bitmain's Fujian subsidiary is located in Changle, which is also Bitmain's sales center and contributes a lot of tax revenue to the local area. Under Zhan Ketuan's leadership, he was once in charge of Fuzhou's City Brain Project.

(Picture from Tianyancha)

Fujian Zhanhua Intelligent Technology Co., Ltd. has a registered capital of RMB 10 million and is a wholly-owned subsidiary of Bitmain. Zhan Ketuan is still the executive director and holds 36% of Bitmain’s shares, so the amount frozen this time is also RMB 3.6 million.

Previously, Bitmain's AI subsidiary Suanfeng Technology completed a new round of industrial and commercial changes. Zhan Ketuan no longer served as the legal representative. Zhan Ketuan was also dismissed from his position at Bitmain's subsidiary Tianjin Diwei Digital Technology Co., Ltd. Bitmain responded that these were industrial and commercial changes made during the company's normal business operations.

It is reported that after being dismissed from all positions by Wu Jihan, Zhan Ketuan has hired law firms in Beijing and Hong Kong to organize counterattacks. Earlier this month, Zhan Ketuan organized a shareholders' meeting under the guidance of a lawyer to try to dismiss the existing directors, but failed because his shareholding could not reach 50%.

On WeChat Reading, the latest book that Zhan Ketuan read is "Mao Zedong's Great Strategy: The Decisions of the Communist Party of China at Major Historical Moments."

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