Zhanke Group's application for pre-litigation property preservation was approved by the court, freezing Bitmain's company shares for two years

A civil ruling published by China Judgment Documents Network on March 4 shows that the applicant Zhan Ketuan applied to the court for pre-litigation property preservation on December 9, 2019, requesting the freezing of Fujian held by the respondent Beijing Bitmain Technology Co., Ltd. Zhanhua Intelligent Technology Co., Ltd. has a 36% equity share.

After examination by the People's Court of Changle District, Fuzhou City, Fujian Province, the applicant's property preservation application of Zhan Ketuan met the legal requirements and was allowed. The 36% equity share of Fujian Zhanhua Intelligent Technology Co., Ltd. held by the respondent Beijing Bitmain Technology Co., Ltd. (equivalent to a value of RMB 3,600,000) was frozen for a period of two years.

It is reported that Fujian Zhanhua Intelligent Technology Co., Ltd. is a wholly-owned subsidiary of Bitmain, and Zhanke Group is the legal representative. The main business scope is the design, development, and sales of integrated circuit chips and semiconductor products, and provides related technical development, technical consulting, and technical services.