Zhan Ketuan's administrative review "can still be changed"? Miners seek coupons for Antminer (Bitmain Series 23)

Zhan Ketuan's administrative review "can still be changed"? Miners seek coupons for Antminer (Bitmain Series 23)

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On the morning of September 15, Zhan Ketuan held a general meeting and expressed the following views on the change of Beijing legal person. He said that he had immediately filed an administrative review and theoretically it could be changed back. At the same time, Beijing Aobei Technology Park and Shenzhen Factory are urgently transferring materials.
1. It was very unexpected and completely illegal.
2. An administrative review has been filed on the 15th, and theoretically it can be changed back.
3. He emphasized many times that “without my (Zhan Ketuan) signature”, the company could not go public and all employees’ options could not be redeemed.
4. Wu Jihan asked me (Zhan Ketuan) to withdraw with money, and I agreed on October 28. However, the legal representative of me (Zhan Ketuan) changed back, so I did not agree.
5. Currently, a shareholder has stepped forward to mediate and the two parties will negotiate.
6. We had originally prepared RMB 300 million to invest in two chips in September.
7. What I cherish most is the company’s technical team. Currently, there are only 100 chip engineers. If the technical team leaves again, there will be nothing to be nostalgic about.
8. Currently, the office buildings of Aobei Science and Technology Park and IC PARK have been (suspected to be) sublet to Beijing Zhanhua Computing Technology Co., Ltd., so there is no risk of employees being evicted.
Zhan Ketuan's lawyer admitted that as a 100% shareholder of Beijing Bitmain, Hong Kong Bitmain has the power to change the legal person of Beijing Bitmain. Therefore, Zhan Ketuan's strategy is still similar to the previous one, which is to find the formal errors in Wu Jihan's actions, such as whether the online application was made, whether the signing time was correct, etc. "Even if the path is correct, there is a problem with the form."
In an interview with "Late Post" earlier, Zhan Ketuan's lawyer said that his strategy was not to file a civil lawsuit, but to file an administrative review. The former is to sue Wu Jihan, with a greater chance of winning, but it will take a long time. The first trial will take at least 1 year, and the second trial will take half a year. After a year and a half, the company has changed beyond recognition. The latter is to sue the Municipal Supervision Bureau and find fault with the law enforcement officers. There is more resistance when a citizen sues an official, but the result can be obtained in 60 days. The real reason behind it may still be the "problem of path and form". Administrative review is mainly to find fault with the form.
The recording shows that Zhan Ketuan repeatedly stressed that the change was an abuse of administrative means and power by Haidian District to interfere in civil cases. Interestingly, when Wu Jihan's side was successfully reviewed and Zhan Ketuan's side won, some media also expressed similar views.
In addition, a fierce dispute between the two parties occurred at the gate of Aobei Technology Park on the evening of the 15th, possibly because of blocking the transfer of company items. The Shenzhen factory controlled by Zhan Ketuan is also rushing to transfer materials, but multiple sources show that Wu Jihan's new factory in Shenzhen has begun to ship goods one after another. After the news broke on the 14th, Antminer coupons began to be snatched up. Miners and mining companies believed that the supply chain shipments would return to normal, and they all asked for Antminer coupons in WeChat Moments and various channels.

In the early morning of the 15th, the Antminer public account controlled by Wu Jihan published an article entitled "Explanation on the Progress of Restoring the Governance Order of Beijing Bitmain Technology Co., Ltd.":

" Beijing Bitmain Technology Co., Ltd. (hereinafter referred to as "Beijing Bit") has obtained the company's business license from the market supervision and management department again on September 14. The business license states that Mr. Wu Jihan is the legal representative of Beijing Bit. At the same time, our respect for Mr. Zhan Ketuan remains unchanged.

After receiving the company's new business license, Beijing Bit will be committed to fully restoring the normal working order of Beijing Bit and all its subsidiaries and affiliated companies.

The management of Bitmain Group and its subsidiaries will continue to be responsible to customers, the company, investors, employees, partners and society, put the interests of customers, employees and the company first, and strive to find stable solutions to properly resolve various issues.

Since 2020, conflicts among management have damaged our market share and brand image. Customers have been lost, employees have been forced to take sides, and their benefits cannot be guaranteed. Various emergencies and negative news have even hindered our listing plan, and the options promised to employees have almost become waste paper.

Bitmain Group employees hope that all parties involved can treat the management problems facing the company rationally, stop meaningless and endless fighting, avoid further damage to the interests of the company and employees, and return to the essence of a technology company, take technological development as the primary driving force, be market- and customer-oriented, focus on product R&D, production and sales, reshape the corporate image, and regain the eroded market share. Let us solve problems in development and achieve win-win results in stability.

The growth of Bitmain Group is inseparable from the joint efforts and struggles of all founding shareholders and employees, the strong support of the group's customers, and the care and help of governments and partners at all levels. Bitmain Group will not forget its original intention, always adhere to the vision of becoming a world-class technology company, forge ahead, and contribute its meager efforts to the development and progress of society and technology. "

Reference Breaking News: Beijing Bitmain Legal Person Returns to Wu Jihan’s Hands, Subsequent Trends Interpretation (Bitmain Series 22)


Risk Warning

According to the "Risk Warning on Preventing Illegal Fund Raising in the Name of "Virtual Currency" and "Blockchain"" issued by the China Banking and Insurance Regulatory Commission and other five departments, please establish a correct investment concept. The content of this article does not endorse the promotion of any business or investment activities . Investors are requested to raise their awareness of risk prevention.

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