Cover news trainee reporter Liang Yanlin
On the evening of November 14, Zendai Culture issued an announcement that on November 13, Zhu Yu, the general manager of the company, was taken criminal compulsory measures by the Pudong Branch of the Shanghai Municipal Public Security Bureau to assist in the investigation because of the suspected illegal fund-raising of "fishing for treasure" and "Zendai Fortune" under Shanghai Zendai Cultural and Creative Development Co., Ltd.
At the same time, another announcement from Zendai Culture said that the company intends to apply for shares to terminate the listing in the national SME share transfer system. The proposal also needs to be deliberated and approved by the shareholders' general meeting.
Dai Zhikang and others surrendered themselves
Suspected of illegally absorbing deposits from the public
This is not the first time zenith culture has gone wrong. Just in September this year, the Pudong Branch of the Shanghai Municipal Public Security Bureau published a circular on the investigation and handling of the "Zendai Company" case on the official weibo, which stated that on August 29, 2019, Dai Moukang, the legal representative of the "Zendai Company", and Dai Mouxin, general manager, surrendered themselves to the police.
Zendai Culture also issued a risk warning announcement on the matters against which the actual controller of the company was subjected to criminal compulsory measures. The announcement stated that Mr. Dai Zhikang, the actual controller/director of Zendai Culture, was taken compulsory measures by the Pudong Branch of the Shanghai Municipal Public Security Bureau in accordance with the law because of the suspected illegal fund-raising of funds by the "Fishing treasure" platform and the "Zendai Fortune" company under Shanghai Zendai Cultural and Creative Development Co., Ltd.
On September 28, the Pudong Branch of the Shanghai Municipal Public Security Bureau disclosed the progress of Zendai Culture's suspected illegal absorption of deposits from the public on its Weibo public account. According to the police report, the public security organs have initially recovered about 200 million yuan in cash, and have seized and frozen relevant bank accounts, real estate and equity properties. Recovery of stolen goods is still ongoing.
Woe to the treasure of the flag
According to the information of Tianyancha, Zendai Culture was founded in July 2011 and listed on the national small and medium-sized enterprise share transfer system in June 2016, and the company's business scope includes the creation, development and sales of fine art.
Shanghai Zendai Cultural and Creative Development Co., Ltd. (hereinafter referred to as "Zendai Cultural Creation") is the controlling shareholder of Zendai Culture, and Dai Zhikang is the actual controller of Zendai Culture.
Laocaibao is an Internet platform affiliated to Shanghai Zendai Special Financial Information Service Co., Ltd., a member of Zendai Wealth.
On August 12, the official website of Laocaibao issued an announcement, saying that Huarui Bank, the depository partner of Laocaibao, unilaterally terminated the depository cooperation and stopped adding new business on the Laocaibao platform.
On August 14, Dai Zhikang published a letter to the users of Laocaibao on the official website of Laobao.
On August 26, Dai Zhikang released a second letter to the users of The Treasure.
However, just three days after the release of the second letter, Dai Zhikang surrendered himself to the police.
Judging from the financial data, after the listing in 2016, the operation of Zendai Culture is not optimistic. According to public information, since 2017, Zendai Culture's cash flow from operating activities has been negative, and by the end of 2018, the net flow of operating activities was -37.2558 million yuan. By the first half of 2019, cash flow from operating activities remained negative at -2.512 million yuan.
Zendai Culture's attributable net profit has been in loss since the first half of 2018. By the first half of 2019, the net profit loss was 3.5824 million yuan.
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