Late at night on May 12, Tianyu Digital, an A-share listed company, announced that Xu Dewei, chairman and general manager of the company, had been investigated and placed in custody by the Ningxia Hui Autonomous Region Supervision Commission on suspicion of joint violations of duty.
According to the announcement, the investigation is only for Xu Dewei and has nothing to do with Tianyu Digital. Tianyu Digital Technology Co., Ltd. declares that its governance structure is perfect, the internal control mechanism is sound, the production and operation order of the company and its subsidiaries is normal, the operation of the company's board of directors and board of supervisors has not been affected, and the company's control has not changed.
In order to ensure the stability of the company's management, Tianyu Digital has designated He Han, director and deputy general manager, to temporarily preside over the company's daily operation and management.
According to public information, Tianyu Digital, formerly known as Tianshen Entertainment, was mainly engaged in mobile game research and development, overseas game distribution, and film and television content production in the early days, and landed on the A-share market in July 2014. After 2018, affected by factors such as policy adjustments in the game and film and television industries, as well as changes in the market environment, the company fell into a debt crisis and was once on the verge of delisting.
In 2020, Tianyu Digital resolved its huge debts through judicial reorganization, and changed its name to Tianyu Digital in 2021. Since then, it has changed its business direction, focusing on the field of digital economy, focusing on casual e-sports, digital marketing, virtual digital human and other businesses. In recent years, it has also been chasing hot concepts such as artificial intelligence and large models.
Born in 1976, Xu Dewei has served as an officer of the Political Department of the Yinchuan Detachment of the Armed Police, the secretary and supervisor of the General Office of the Yinchuan Municipal People's Government, the deputy director of the Yinchuan Financial Work Bureau, the general manager of Beijing Tianxiang Nebula Private Equity Fund Management Co., Ltd., the executive deputy general manager of Potassium International Investment (Guangzhou) Co., Ltd., and is currently the director, general manager and chairman of Tianyu Digital.
It is worth mentioning that Zhu Ye, the former actual controller and former largest shareholder of Tianyu Digital, once auctioned Buffett's lunch for $2.34 million in 2015, which attracted widespread attention in the capital market. However, in July 2023, Zhu Ye's 70.2 million unrestricted tradable shares of Tianyu Digital Technology were auctioned by the Wuhan Intermediate People's Court on the judicial auction platform, and all of them were finally sold. As a result, Zhu Ye is no longer the largest shareholder of Tianyu Digital.
According to incomplete statistics from the Financial Associated Press, since May 1, 12 A-share listed companies, including Tianyu Digital Technology, *ST Cultural Investment, Dongxu Blue Sky, Dongxu Optoelectronics, ST Huatie, Weichuang Shares, *ST Yuebo, Puli Pharmaceutical, *ST Sansheng, ST Yilianzhong, Caesar Culture, and Jinjia Shares, have announced that the company or related parties have been filed.
Source: Red Star News China Business News Disclaimer: If the content of the article involves the content of the work, copyright and other issues, please contact this official account within 30 days, and we will delete the content as soon as possible.
Editor: Xiao Jing
Review: Dong Ning, Lin Lu, Li Wei