Text: Ratchet Pizza
Source: A blockchain
Recently, the announcement of the resignation of the chairman of Yizhi brought the listed company Chenxin Technology to the spotlight again. The company that changed its name three times is a well-known "dark stock" of A shares. It started by selling seafood, and later transformed the game. It also hit the blockchain hotspot, and even issued coins through associated companies.
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Among domestic A-share listed companies, more than Chenxin Technology is suspected of issuing coins. LeTV and Storm are all here.
But this did not save them. Delisting, zero currency prices, resignation of chairman, arrest of actual controller … Nowadays, most of these companies suspected of issuing coins to cut leek are in trouble.
01 Professional 蹭 Hotspots
On November 29, shareholders of Chenxin Technology received bad news-Feng Wenjie, chairman of the company, resigned for "personal reasons".
Chenxin Technology is the first batch of "blockchain concept stocks" in China, and it is also one of the few listed companies in A-shares that directly issues currency through subsidiaries. Back in 2017, the company announced its entry into the blockchain.
At that time, Chenxin Technology was also called Yiqiao. Its wholly-owned subsidiary, Xinxin Internet, announced that it will launch the world's first blockchain e-sports acceleration basic service-Xinxin Competition Cloud.
After the news came out, the company's stock price had a daily limit.
Battle Cloud is both router hardware and software, with game acceleration capabilities and mining support. The pre-sale price is as high as 999 yuan.
It is obvious that the Battle Cloud is imitating Thunder's Poke Cloud model.
The Blockchain project of Battle Cloud is more than that. At the end of 2017, the electronic pet game of the chain was popular. Crypto Kitties on the Ethereum platform attracted much attention, and a virtual cat was once fired to a sky-high price of 800,000 yuan.
Soon, Battle Cloud also imitated Mysterious Love Cat and launched its own blockchain electronic pet game-PolyPony.
But soon, the blockchain electronic pet game was left unattended.
Battle cloud game Polyma
If you trace the history of Chenxin Technology, the company's initial main business may be a surprise.
It was first called Yiqiao Miaoye. Its main business is the breeding, processing and sales of seafood. In the early years, Yiqiao was once known as one of the four major families of the Chinese sea cucumber industry and enjoyed a good reputation in the industry.
But selling sea cucumbers is obviously not enough to support its ambitions. In 2016, One Bridge Sea Cucumber announced the acquisition of a 55% stake in Gaoxin Interconnection, a game company, and changed its name to One Bridge. Sea cucumber and games have become the company's dual main businesses.
At the end of 2017, One Bridge announced that it would no longer be engaged in Haizheng-related business and was preparing to change its name to Chenxin Smart. But the name was rejected by the Securities and Futures Commission.
In February 2018, Yiqiao Co., Ltd., which was on the blockchain, changed the company name to Chenxin Technology and was successfully approved.
This company, which started from seafood, seems to be going further and further on the road of high-tech industry.
02 Coin Issuance Cloud
But unlike many blockchain concept stocks, the way Chenchen Technology breaks into the blockchain industry is the most radical "coin issue."
On the Battle Cloud platform, the points GCP obtained by users' mining can be exchanged for the digital currency “Battwin Chain BATT”.
The BATT white paper shows that BATT is a digital currency issued by BattleWin, an overseas competitive entertainment platform, and its vision is to "solve the current trust problem in the guessing game industry."
The so-called "overseas competitive entertainment" and "guessing games" are actually gambling games.
As an A-share listed company, Chenxin Technology is not the issuer of BATT, but there are inextricable links between the two.
In the BATT white paper, the core team member of BattleWin is Li Shuang, founder and CEO of Gaming Gaming. According to the company's information, the company behind the e-sports is Yisi (Shanghai) Information Technology Co., Ltd.
And Xinxin, a wholly-owned subsidiary of Chenxin Technology and the main operating company of the Competence Cloud series products, is a shareholder of Yisi Technology. Feng Xinjie, chairman of Chenxin Technology, is also a director of Yisi Technology.
List of shareholders of Yisi Technology
In other words, Chenxin Technology issued digital currency BATT through its subsidiaries and used it as a selling point to sell its own router products.
BATT, the main gambling player, was unable to avoid the fate of the plunge.
In June 2018, BATT launched the Allcoin exchange. Two months later, the price of the currency dropped from 0.14 yuan to 0.014 yuan, a 90% reduction, and investors lost their money. Currently, it has been removed from the Allcoin exchange.
In the Fun Coin Exchange, BATT was renamed PONY. As of December 2, the price of PONY was $ 0.016, a drop of 75% from its highest point.
At the same time as the currency price plummeted, the stock price of Chenxin Technology also plummeted.
In January 2018, Chenxin Technology, a blockchain hot spot, once reached its highest point in recent years-8.68 yuan.
Today, its stock price is only 3.21 yuan, down 63%.
In March 2018, the actual controllers of Chenxin Technology, Liu Dequn, and Liu Xiaoqing's father and daughter, were criminally detained by the police for alleged manipulation of the securities market and insider trading.
During this period, Feng Wenjie, the founder of Xinxin Internet, which was acquired by Chenxin, became the chairman and general manager of Chenxin Technology. And in Chenxin Technology, some investors see him as the culprit in emptying the assets of listed companies.
According to the financial report, as of the end of the third quarter of this year, Chenxin Technology Co., Ltd. had only 1.3139 million yuan in monetary funds.
03 one place feather
In fact, among A-share listed companies, who wish to enter the blockchain industry through coin issuance, the outcome is mostly bleak.
LeTV is one of them.
In July 2018, Lerong Zhixin (LeTV Operating Company), a subsidiary of LeTV, announced its entry into the blockchain field. It cooperates with the blockchain community one chain to launch a smart hardware one chain box.
Through a chain box, users can share their idle bandwidth, and the community will return to the user with the community token OC (One chain Token) according to the contribution.
The total number of OCs issued is constant 1.8 billion, and the main trading platform is the Blue Maple Exchange. The latter data shows that the current price of OC is 0.005 yuan, which has dropped by 99.9% from its highest point.
In addition, the OC turnover in the last 24 hours was only 37.18 yuan.
OC price trend
Like many coin-issuing blockchain projects, the OC project's one-chain community also has an unclear relationship with LeTV.
Tencent's "First Line" reported that the registered entity of the first-chain community is Beijing Zhian Tianhe Network Technology Co., Ltd., which is held by Wan Tao as a 90% shareholder. The latter joined LeTV at the end of 2016 as the general manager of LeTV Cloud Computing Security Center.
Li Shibin and Ren Hailin, the two co-founders of Yichain, also worked at LeTV.
Coin issue failed to save LeTV. In September 2018, the new equity of Lerongzhi held by LeTV Holdings was auctioned, and LeTV lost control of its subsidiaries.
In April 2019, LeTV delisted. To this day, there are still numerous LeTV creditors who failed to get back their arrears.
The storm known as "Little LeTV" seems to repeat the same mistakes as LeTV.
In 2015, Fengfeng Technology went public, winning 36 daily limit boards, and the market value was as high as 40 billion yuan.
However, the stock price of the storm, which is unstable, has been falling since then. By the end of 2017, the storm had been difficult to hide, and the stock price hovered above 20 yuan, less than one tenth of its peak.
At the end of 2017, Storm launched a product similar to Battle Cloud and One Chain Box-Storm Broadcast Control Cloud. It sells for up to 5999 yuan.
According to official information, the first 2,000 machines of Broadcast Control Cloud were snapped up within 5 minutes, and the storm accounted for nearly 12 million yuan.
Storm Broadcast Control Cloud
However, the downward trend has not been reversed. In July this year, the storm issued an announcement announcing that the company's actual controller, Feng Xin, was under police control.
Recently, the storm issued another announcement, saying that the company has only more than ten employees left, and all executives have left.
Today, Storm's official website, APP, and client are no longer available.
After the noise, a place of feathers.
Faced with huge interest temptations, many listed companies ignore regulations and take various measures to raise stock prices.
Fancy hotspots, hype by the concept of blockchain, is one of the methods.
Companies whose main business is at stake are trying to seize the last straw and help themselves by issuing coins.
Facts have proven that issuing coins and cutting leeks will eventually eat their own fruits.