Chairman of Tom cat’s parent company investigated for insider trading

Public information shows that Jinke culture’s main business is mobile Internet culture business, which was listed on the gem in May 2015. Among them, “talking tom cat family” IP series leisure games contribute the main revenue and profit for Jinke culture, and the revenue of its game contribution is mainly the revenue of in-game advertising. According to the 2020 semi annual report of Jinke culture, in the first half of this year, the company’s advertising revenue was 770 million yuan, a year-on-year increase of 22.9%, accounting for 85.36% of the operating revenue. The main customers of its online advertising business are global well-known advertising platforms such as Google, Facebook, ironsource and unity. In addition, the first three quarters of 2020 achieved a profit of 621 million yuan < / P > < p > by the end of September 2020, the number of shareholders of Jinke culture was 125900, and each of them held 18600 circulating shares. It is worth mentioning that the number of shareholders at the end of September has changed greatly compared with that on August 10. As of August 10, the number of shareholders of Jinke culture was only 75400, less than two months, with an increase of 66.96%. < p > < p > on the evening of December 21, Jinke culture announced that the company received a letter from Chairman Wang Jian on the same day, and learned that it was put on file for investigation because it was suspected of insider trading in the company’s stock reduction from November 2019 to March 2020. < / P > < p > according to the announcement disclosed by Jinke culture, the text of the “investigation notice” issued by the CSRC to Wang Jian is as follows: “because you are suspected of insider trading company shares, according to the relevant provisions of the securities law of the people’s Republic of China, I will decide to put you on file for investigation, please cooperate.” < / P > < p > according to the investigation of Shenzhen Stock Exchange, because Wang Jian reduced the company’s shares within 10 days before the disclosure of the company’s performance express in 2019, there was illegal reduction. It is reported that on February 28, Wang Jian forced to close his position and reduced his holdings of 11.2413 million shares of Jinke culture by centralized bidding, accounting for 0.32% of the company’s share capital, involving 48.23 million yuan. < / P > < p > Jinke Culture said in the announcement, “this investigation is aimed at Mr. Wang Jian and has nothing to do with the company. This investigation will not affect his normal performance of duties in the company, nor will the company’s production and business activities. The operation, management, business and financial situation of the company are normal. ” < / P > < p > on February 4, this year, Shenzhen Stock Exchange issued a regulatory letter, pointing out that Wang Jian reduced his holdings of Jinke culture shares by centralized bidding during the period from August 15 to August 27, 2019 and October 16 to October 21, 2019 due to compulsory position closing, involving a total amount of about 57.99 million yuan. < / P > < p > according to the circular, on February 28, 2020, Wang Jian reduced his holdings of 11.2413 million shares of Jinke culture by means of centralized bidding due to compulsory position closing, accounting for 0.32% of the total share capital of Jinke culture, involving an amount of 48.23 million yuan. The above reduction occurred within 10 days before the disclosure of Jinke culture’s performance express in 2019. < / P > < p > Wang Jian will be the general manager of Jinke culture from August 2016 to June 2020, the director of Jinke culture from July 2016 to now, the chairman of Jinke culture from June 2019 to now, and the financial director of Jinke culture from August 2019 to October 2020. In addition, Wang Jian still holds 11.50% shares of Jinke culture. According to the announcement of Jinke culture, Wang Jian was born in 1988 and graduated from Zhejiang University of technology in 2009. He has the technical qualifications of software designer, network engineer and system analyst from the Ministry of industry and information technology. In 2010, Wang Jian and his father founded Hangzhou zhexin Information Technology Co., Ltd. < p > < p > in May 2015, Zhejiang Jinke, the predecessor of Jinke culture, was listed on the growth enterprise market. The company is located in Shangyu, Shaoxing, and is mainly engaged in oxygen bleaching agent SPC. In May 2016, Zhejiang Jinke spent 2.9 billion yuan to purchase 100% equity of Hangzhou zhexin by issuing shares and paying cash, of which 2.03 billion yuan was paid by issuing shares to the original shareholders of Hangzhou zhexin, 870 million yuan was paid by cash, and the appreciation rate of underlying assets was 935.59%. By the end of 2019, there will be 2.3 billion yuan of goodwill on Jinke culture’s balance sheet. Before the M & A, Wang Jian held 46.95% of the equity of Hangzhou zhexin. According to the consideration related to the M & A, Wang Jian obtained about 400 million yuan in cash and about 980 million yuan in Jinke culture shares. At the same time, Wang Jian also subscribed for the shares issued by Jinke culture in cash. Therefore, after the completion of the merger and acquisition, Wang Jian holds 17.98% of the shares of Jinke culture. < / P > < p > in order to pay the cash consideration, Jinke culture raised a net matching fund of 2.080 billion yuan from five institutional investors. In addition to 870 million yuan paid to the original shareholders of Hangzhou zhexin, Jinke culture originally planned to use the remaining matching fund for mobile game construction and other projects. < / P > < p > in December 2017, Zhejiang Jinke purchased 100% equity of Hangzhou Doubao and 100% equity of Shangyu Manou from the company’s then chairman Zhu Zhigang and other six counterparties through non-public offering. The main assets of Hangzhou Doubao and Shangyu Manou are their 56% equity of outfit7 Investments Limited (Tom Cat assets), with a transaction consideration of 4.2 billion yuan. < / P > < p > on June 10, 2019, Jinke culture’s acquisition of 33.74% shares of Hangzhou zhexin was lifted, of which 23.43 million shares held by Wang Jian were actually available for sale. < / P > < p > on June 19, 2019, Jinke culture announced that Wang Jian planned to reduce his 2% stake. On July 1, Jinke cultural provident fund was converted into share capital, and the total share capital was changed from 1.971 billion shares to 3.544 billion shares. From July 18, Wang Jian began to reduce his holdings intensively, and reduced his holdings by 1% on August 27. < / P > < p > by December 16, 2019, its reduction plan will be completed, including 1.98% reduction of shares through centralized bidding and 0.11% reduction of shares through block trading. < / P > < p > overall, the earliest record of Wang Jian’s share reduction was in 2017, and the most intensive was in 2019 and 2020. Wang Jian’s crazy reduction lasted from July 18, 2019 to September 24 this year. < / P > < p > the latest change was on September 24, 2020. Wang Jian sold 879000 shares through block trading, with an average transaction price of 4.55 yuan. After the change, Wang Jianshang held 407 million shares. < p > < p > according to the company’s announcement in early December, Wang Jian held 394 million shares of the listed company after the cancellation of share repurchase of performance compensation commitment in major asset restructuring. < p > < p > on December 9, Jinke culture planned to replace its audit institution. Coincidentally, Tianjian office, its audit institution in 2019, issued an audit report with qualified opinions in Jinke culture’s annual financial report in 2019. < p > < p > on December 14, Shenzhen Stock Exchange issued a letter of concern, asking Jinke culture to explain the settlement progress of the matters involved in the qualified opinions in the annual audit report of 2019, whether the impact on the company’s financial report is eliminated, and whether there is a major dispute between the company and Tianjian on whether the impact of the qualified opinions on the financial report of 2019 is eliminated. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. The content of this article is for reference only, and does not constitute an investment proposal. 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