According to Bloomberg, Bitmain co-founder and former chairman Zhan Ketuan filed a lawsuit in Cayman. In December, the Zanke group filed a subpoena to the Cayman Islands court, asking the court to cancel the outcome of Bitmain's shareholder meeting in November. The shareholders' meeting canceled the original 10 voting rights per share of Zhanke Group and changed to 1 voting right per share.
A person familiar with the matter confirmed the news to the self-media, and revealed that the Zhanke regiment had hired lawyers from Beijing, Hong Kong, Cayman and other places to participate in the lawsuit. The lawsuit also revealed Wu Jihan's two key steps in removing Jenke Corps: first, the Hong Kong company dismissed the legal personality of Jenke Corps Beijing, and the second step was the cancellation of Jenke Corps' B-share voting rights through a shareholders meeting. According to public information at the time of the Hong Kong IPO, Bitmain Cayman originally implemented the AB share system. Zanke ’s voting rights were 59.6%, Wu Jihan ’s was 33.5%, and other shareholders totaled 6.9%. After cancelling the voting right of Zhanke Group, Bitmain's equity structure is roughly as follows, and Wu Jihan has the absolute advantage.