Text | AI Finance And Economics Xiao Chao
| Deer chirping
This article is created by the author of the Tree Project [AI Finance and Economics Agency], exclusively published in today's headlines, and may not be reproduced without authorization.
Wang Yue, a rich man after the 80s, was officially arrested.
On the evening of June 12, Kaiying Network, an A-share listed game company, issued an announcement that Wang Yue, the company's controlling shareholder and actual controller, had been formally arrested by the Shanghai Municipal Public Security Bureau with the approval of the Shanghai Municipal People's Procuratorate for suspected crimes of manipulating the securities market.
Previously, on March 29, Kaiying Network announced that Wang Yue was missing, and on May 6, it was confirmed that she was criminally detained by the Shanghai Municipal Public Security Bureau on suspicion of crimes. From the end of April to mid-May, Kaiying Network disclosed that Feng Xianchao, deputy general manager of the company, and Chen Yongcong, general manager and financial director, were under investigation by the public security organs for suspected personal economic crimes and suspected of manipulating the securities market.
According to the relevant provisions of the Criminal Law, the crime of manipulating the securities market refers to the act of using illegal means to disrupt the order of the securities market for the purpose of obtaining improper benefits or passing on risks, and may be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and if the circumstances are particularly serious, the sentence may be up to five years or not more than ten years.
The June 12 announcement also said that Wang Yue's arrest did not affect the normal operation of the company.
Although Wang Yue is the founder of Kaiying Network, he has indeed withdrawn from management. In July 2018, Wang Yue resigned as general manager for personal reasons, but continued to serve as chairman of Kaiying Network and chairman of the strategy committee. Since then, after several resignations and re-elections, Wang Yue has resigned as a director of the company for personal reasons in March 2019 and has no longer held any position in the company.
Founded in 2008, Kaiying Network is the developer and operator of several popular games. In 2015, Kaiying Network landed on the Shenzhen Stock Exchange through the backdoor Taiya shares. A year later, the then 33-year-old Wang Yue was listed on the "2016 Hurun Post-80s Self-Made Rich List" with a net worth of 7 billion yuan.
As soon as the announcement of the arrest of the actual controller came out, Kaiying Network rose and stopped on June 13, closing at 3.5 yuan / share.
On June 13, Jiangxi Crunch Information Technology Co., Ltd., the owner of the Greedy Blue Moon and Greedy Game brand, issued a statement saying that Kaiying Network Wang Yue was not the actual controller of Greedy Blue Moon.
A mobile game with 7.5 billion yuan of flowing water
Wang Yue, who studied hydrology and water resources at Chang'an University as an undergraduate, did not get a degree certificate when he graduated in 2005 because of too many hanging subjects. But at this time, he has been self-taught website development, with the "feat" of dominating the 76 pages of Baidu's "mobile phone ringtone download" search page, he has earned the first pot of gold of more than one million yuan.
After graduation, Wang Yue entered the 51.com, the largest social networking site in China at that time, and has been the director of the game business department. After another three years, Wang Yue left his job to start a business, pulled his university alumnus Feng Xianchao, and founded Kaiying Network together.
In 2009, Kaiying Network became Tencent's first third-party game development partner, and for the first time tested Tencent's business community game "Skyscraper", it handed over a bright report card of 70 million users and a monthly profit of more than 2 million yuan in a few months.
Since then, the increasingly full-fledged Kaiying Network has extended its tentacles to the development and agency of large-scale page games and mobile games, and launched games such as "Legend of Shushan Mountain", "Miracle of the Whole People MU", "Legend of the King" and so on. According to public information, as of June 2018, the highest monthly turnover of the page game "Legend of blue moon" exclusively represented by Kaiying Network was 200 million yuan, and the mobile game "Miracle of the Whole People" has brought more than 7.5 billion yuan of turnover to the company.
3 days to throw out 100 million assets to prove
In April 2015, Kaiying Network, which was planning a backdoor listing, created the largest merger and acquisition of a domestic game company at that time with a transaction consideration of 6.3 billion yuan. However, on the day of the release of the restructuring plan, Shanda Games, an old rival of Kaiying Network, issued a whistleblower letter through its affiliates, saying that it had complained to the CSRC and other relevant departments, believing that the restructuring announcement was suspected of misrepresentation.
In May, Shanda Games, also claiming that several games operated by Kaiying Network were infringing, filed a lawsuit with the court, demanding that Kaiying Network compensate for losses totaling 100 million yuan. According to the previous backdoor plan, Wang Yue needed to "unconditionally compensate or fully bear" the economic losses arising from the litigation. Shanda Games took this opportunity to accuse Wang Yue of not having the ability to actually guarantee, and the previous promise was a serious misleading to investors.
In the face of many allegations of Shanda Games, three days later, Taiya shares issued an announcement, saying that Wang Yue had provided the company with proof of assets, and after verification, including Kaiying Network dividend income, Kaiying Network equity transfer income, other foreign investment and real estate, Wang Yue's total assets had exceeded 100 million yuan and had the ability to complete the restructuring commitment. In the end, Kaiying Network successfully completed the listing.
There is no eternal enemy in the business field, after several rounds of lawsuits on the copyright of the game, in June 2018, Kaiying Network issued an announcement announcing that the subsidiary and Shanda Game Subsidiary signed a three-year strategic cooperation agreement, and the two sides shook hands and made peace.
Cross-border investment outside the main business failed
Although Wang Yue is successful in the field of game agency and development, kaiying network's several investments in other fields have not been successful.
As early as the beginning of the listing, Kaiying Network had said that it would lay out the full direction of the VR field in the future, and declared that the investment amount would "not be less than 1 billion yuan". Since then, Kaiying Network has participated in multiple rounds of financing for a VR company in December 2015, August 2016 and January 2017, two of which were also led. But by March 2019, the VR company continued to raise money, and Kaiying Network was no longer involved.
In June 2017, Kaiying Network issued five consecutive investment announcements, announcing investment in five Internet finance companies, with a total investment amount of 145 million yuan. The announcement shows that only one of the five companies is profitable, the other three have not yet been carried out, and one is even insolvent. In kaiying network's 2018 annual report, it disclosed the changes in the long-term equity investment of three of them, and Kaiying network has swallowed more than 3 million yuan of investment losses in about one and a half years.
At the beginning of 2018, Wang Yue announced the establishment of the blockchain business unit, and a few months later, the "five Apps" of Kaiying Network were launched, claiming to use blockchain as the underlying technology, which is a comprehensive content platform that integrates news, short videos, games and other fields, and attracts users through "three seven accounts".
However, the AI Finance and Economics Agency found that as of April 2019, the app has been removed from the Apple App Store, and in the Huawei official app market, the number of downloads is only 940,000 times, the rating is 2.5 points, and since January 2019, many users have reported in the comment area that the software cannot be opened and cannot be withdrawn.