On April 25, the well-known game company Duoyi Network issued a document that its founder and chairman Xu Bo said that he transferred more than 800 million yuan to his ex-girlfriend Tang, and then Tang smuggled away with the money, and is still in arrears of more than 300 million yuan. In the article, Xu Bo also called himself "China's first father", because of previous rumors that he had 12 children with many daughters.
As a game company located in Guangzhou, the company's official website shows that the company has more than 3,000 employees, is one of the "Top 10 Chinese Games", and has been listed among the top 100 Internet companies in China for nine times. It has a number of games such as "Phantom Tang Zhi" and "Dream World 3".
And inside and outside the circle, there are more "plays" than the company's games, which is the company itself.
A reward of 10 million yuan was offered to investigate the corruption of senior executives
Tianyancha shows that Xu Bo has a total of 9 affiliated enterprises under his name, of which 8 are in existence, Xu Bo holds shares in these 8 companies, and serves as the chairman of Guangzhou Duoyi Network Co., Ltd., and serves as the executive partner of Guangzhou Haoran Investment Partnership (Limited Partnership).
However, judging from the public information, Xu Bo's business territory involves investment, information technology, etc. On March 25, 2024, the Hurun Research Institute released the "2024 Hurun Global Rich List", and Xu Bo ranked 900th on the list with a wealth of 27.5 billion yuan.
It is worth noting that the legal litigation information shows that the private lending dispute case between Xu Bo and Tang was opened in March this year, and the plaintiff is Xu Bo.
This is not the first time that Xu Bo and Duoyi Network have fallen into this kind of economic "dilemma".
On March 17, 2023, Duoyi Network released the "Announcement on the Loss of Hundreds of Millions of Dollars to the Company by Former Female Executives Using Online Trolls to Commit Fraud" on its official website. The above announcement mentions:
The corrupt gang headed by former CEO Tang Yilu took advantage of his position to abuse his power for personal gain, and collaborated with advertising agencies to create false advertisements and contract fraud against the company, bringing direct economic losses of up to 500 million yuan to the company.
According to the historical article on the official website of Duoyi Network, Tang Yilu is a woman who graduated from Sun Yat-sen University.
Since then, Duoyi Network has publicly solicited clues and evidence related to the corruption of Tang Yilu and others on its official website. In particular, it was pointed out that if the whistleblower can provide key evidence to make Tang Yilu personally sentenced to 5 years or more, the whistleblower will be rewarded with 10 million yuan.
And Xu Bo also seems to love to write articles on official channels. On August 19, 2021, Duoyi Network published an article entitled "The Chairman Personally Investigates Advertising Corruption and Advertising Fraud Connivance Plug-in Case", which shows that it was also written by Xu Bo himself.
The main business of the game is a small splash
Interestingly, as a game company, TOEIC is very concerned about the lives of its employees.
On April 24, Duoyi Network issued a document stating that the company stipulates that the bride price of any employee of the company shall not exceed 100,000 yuan, otherwise the whole company will be criticized and severely punished.
In response to the questions raised by this regulation, Duoyi Network responded that the company's regulations, or various civil acts, as long as they are not expressly prohibited by national laws, are actually valid. Even if it is expressly prohibited by national law, it is likely to be valid. For example, the law of the country clearly prohibits the extortion of money and property through marriage, why do you still defend the explicit illegal act of demanding a bride price? Hypocritical feminists think they are moral. If you think that the company has no power to restrict the bride price, do you dare to answer the question: "Does a woman have the right to ask for a bride price?"
Returning to its main business, in June 2016, Duoyi Network submitted an application for an initial public offering and listing on the Growth Enterprise Market (GEM), sponsored by CITIC Securities, and chose to terminate the IPO review on March 27, 2018. Subsequently, in June 2018, Duoyi Network submitted an IPO prospectus to the Hong Kong Stock Exchange, and the sponsor was CLSA, but finally announced the termination of the IPO in January 2019.
At that time, the "Shenwu" series of Duoyi Network was very popular in the market, and it accounted for a high proportion of its revenue. From 2015 to 2017, the revenue of Shenwu series games accounted for 92.7%, 92% and 90.7% of the revenue in the same period, respectively.
Interestingly, based on the data disclosed at the time, Duoyi Network's business style is obviously different from most game companies in the same industry. From 2015 to 2017, the revenue of Duoyi Network was 1.63 billion yuan, 1.55 billion yuan and 1.93 billion yuan respectively, while the net profit in the same period was as high as 1.04 billion yuan, 840 million yuan and 1.007 billion yuan respectively, and the corresponding gross profit margin ratio of Duoyi Network in each period from 2015 to 2017 was 98.8%, 98.4% and 98.7% respectively.
Compared with other game companies, in 2017, the gross profit margin of NetEase's online game business in the second quarter was 63.1%. In 2016, the gross profit margin of Youjiu Games' mobile games was 72.27%, Huayi Brothers' mobile game gross profit margin was 77.38%, and Shunwang Technology's mobile game gross profit margin was 81.50%, which was already a very bright performance that year.
In the past two years, compared with Xu Bo's boiling "more than a dozen children" and various internal "regulations", Duoyi Network's game business has not performed much. In January this year, the National Press and Publication Administration released the approval information of domestic online games in January, and a total of 115 games were approved. Among them, Duoyi Network's "Alien Guardian" is on the approved list.
Text丨Reporter Hang Ying
Figure丨Duoyi Network Official