Editor's Note: This article comes fromCaijingOnchain Finance (ID: CaijingOnchain)CaijingOnchain Finance (ID: CaijingOnchain)
, Author: LornaQ, reproduced by Odaily with authorization.
Haoxin Internet (Beijing) Network Technology Co., Ltd. (hereinafter referred to as "Haoxin Internet") has not completed the promised performance in 2019. *ST Chenxin will acquire Nanchang Jingxin Youbei Network Technology Center (Limited Partnership) (hereinafter referred to as "Jingxin Internet") Youbei") filed a lawsuit, requesting it to pay *ST Chenxin performance compensation amounting to RMB 1.01 billion in total.
At present, *ST Chenxin has filed a lawsuit with the court, requesting Jingxin Youbei to pay the overdue 2018 company performance compensation of 570 million yuan, and Feng Wenjie, the general partner (executive partner) of Jingxin Youbei, is jointly and severally liable for the settlement.
*ST Chenxin used part of its inventory, fixed assets, construction in progress, and intangible assets in August 2016 to share 55% of Haoxin Internet owned by Jingxin Youbei and Feng Wenjie (of which Jingxin Youbei holds 54.9%, Feng Wenjie holds 0.1%), the transaction price was RMB 990 million, and in November 2017, the remaining 45% equity of Haoxin Internet held by Jingxin Youbei was acquired. The transaction price was RMB 1.0125 billion, a total of 2.0025 billion yuan.
After the completion of the above transaction, Haoxin Internet became a wholly-owned subsidiary of *ST Chenxin, and made relevant performance commitments. After auditing that Haoxin Internet failed to meet its performance commitment in 2018, Jingxin Youbei should pay RMB 570 million in performance compensation to *ST Chenxin. According to *ST Chenxin, the payment has not been paid so far, and *ST Chenxin filed a lawsuit in the court.
In the second quarter of 2018, Haoxin Internet launched Jingdou Cloud 2.0, introducing the exchange channel of BATT (Boying Chain Token), allowing users to use GCP points to exchange BATT at a certain ratio. BATT was launched on AllCoin and BCEX in June 2018. Therefore, *ST Chenxin relied on Jingdou Cloud to achieve revenue of nearly 57 million yuan.
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*ST Chenxin revenue
It is understood that BATT is now renamed PONY, PONY can act as a currency by purchasing goods, and GCP can be directly exchanged with RMB through second-hand websites such as Xianyu.
After the launch of PONY, the price of the currency continued to fall, and the market lost confidence in it. As a result, Jingdou Cloud users gradually lost their motivation to maintain nodes. In addition, "route mining" products such as Beijing Jike Geek Technology Jirou, Phixun "0 yuan purchase" and other "routing mining" products exploded one after another. With the tightening of supervision, *ST Chenxin hurriedly disregarded the relationship with PONY, and removed Jingdouyun from official channels.
Since then, Haoxin Internet has exhausted the dividends of relying on Jingdou Cloud to make profits, and there are no more significant products, and *ST Chenxin has turned from profit to loss.
