This article is from the WeChat public account: a blockchain (ID: yibenqkl) , author: ratchet pizza, from the cover: Oriental IC
Recently, the announcement of the resignation of the chairman of Yizhi has brought the listed company Chenxin Technology to the spotlight again.
This company that changed its name is a well-known “dark stock” of A shares. It started by selling seafood, and later transformed the game. It also hit the blockchain hotspot, and even issued coins through associated companies.
And among domestic A-share listed companies, far more than Chenxin Technology is suspected of issuing coins. LeTV and Storm are all here.
But this did not save them. Delisting, zero coin price, chairman resignation, actual controller arrested … Nowadays, most of these companies suspected of issuing coins to cut leek are in trouble.
I. Professional Hotspots
On November 29th, the shareholders of Chenxin Technology received bad news-Feng Wenjie, chairman of the company, resigned for “personal reasons”.
Chenxin Technology is the first batch of “blockchain concept stocks” in China, and it is also one of the few listed companies in the A-share market that issues currency directly through subsidiaries. Back in 2017, the company announced its entry into the blockchain.
At that time, Chenxin Technology was also called Yiqiao. Its wholly-owned subsidiary, Xinxin Internet, announced that it will launch the world’s first blockchain e-sports acceleration basic service-Xinxin Competition Cloud.
After the news came out, the company’s stock price once reached a daily limit.
Jingdou Cloud is both router hardware and software, with game acceleration functions and mining support. The pre-sale price is as high as 999 yuan.
Obviously, Battle Cloud is imitating Thunder’s Pokemon cloud model.
The Blockchain project of Battle Cloud is more than that. At the end of 2017, the electronic pet game of the chain was popular. The mysterious cat on the Ethereum platform (Crypto Kitties) attracted much attention, and a virtual cat was once fired to a sky-high price of 800,000 yuan.
Soon, Battle Cloud also imitated Mystery Love Cat, and launched its own blockchain electronic pet game-Polyma span>.
But soon, blockchain electronic pet games are no longer in demand.
Baolima, a cloud game
If you trace the history of Chenxin Technology, the company’s original main business may be a surprise.
It was first called Yiqiao Miaoye. Its main business is the breeding, processing, and sales of seafood. In 2015, it was renamed Yiqiao Sea Cucumber. In the early years, Yiqiao was once known as one of the four major families of the Chinese sea cucumber industry and enjoyed a good reputation in the industry.
But selling sea cucumber is obviously not enough to support its ambitions. In 2016, One Bridge Sea Cucumber announced the acquisition of a 55% stake in Gaoxin Interconnection, a game company, and changed its name to One Bridge. Sea cucumber and games have become the company’s dual main businesses.
At the end of 2017, One Bridge announced that it would no longer be engaged in Haizhenpin related business, and plans to change its name to Chenxin Smart. But the name was rejected by the Securities and Futures Commission.
In February 2018, Yiqiao Co., Ltd., which was on the blockchain, changed the company name to Chenxin Technology and was successfully approved.
This company that started from seafood seems to be going further and further down the road of high-tech industries.
Second Cloud of Issuance
However, unlike many blockchain concept stocks, Chenxin Technology’s approach to the blockchain industry is the most radical “coin issue.”
On the Battle Cloud platform, the points GCP earned by users can be converted into digital currency “Battwin Chain BATT”.
The BATT white paper shows that BATT is a digital currency issued by BattleWin, an overseas competitive entertainment platform, and its vision is to “solve the current trust problem in the guessing game industry.”
The so-called “overseas competitive entertainment” and “guessing games” are actually gambling games.
As an A-share listed company, Chenxin Technology is not the issuer of BATT, but there are inextricable links between the two.
In the BATT white paper, the core team member of BattleWin is Li Shuang, founder and CEO of Gaming Gaming. According to the company’s information, the company behind the e-sports is Yisi (Shanghai) Information Technology Co., Ltd.
Yinxin Internet, a wholly-owned subsidiary of Chenxin Technology and the main operating company of the Competence Cloud series products, is a shareholder of Yisi Technology. Feng Wenjie, chairman of Chenxin Technology, is also Yip>
In fact, among A-share listed companies, who wish to enter the blockchain industry by issuing coins, the outcome is mostly dismal.
LeTV is one of them.
In July 2018, Lerong Zhixin, a subsidiary of LeTV.com, (LeTV Operating Company) announced its entry into the blockchain field. It cooperates with the blockchain community one chain to launch a smart hardware one chain box.
With a chain box, users can share their idle bandwidth, and the community will give back to the user the community token according to the contribution OC (One chain Token) .
The total number of issued OCs is 1.8 billion. The main trading platform is Blue Maple Exchange. The latter data shows that the current price of OC is 0.005 yuan, which has dropped by 99.9% from its highest point.
In addition, OC’s turnover in the last 24 hours is only 37.18 yuan.
OC price trend
Like many coin-issuing blockchain projects, the OC project’s one-chain community also has an unclear relationship with LeTV.
Tencent’s “First Line” reported that the registered entity of the first-chain community is Beijing Zhian Tianhe Network Technology Co., Ltd., which is held by Wan Tao as a 90% shareholder. The latter joined LeTV at the end of 2016 as the general manager of LeTV Cloud Computing Security Center.
The two co-founders of Yichain Li Shibin and Ren Hailin also worked at LeTV.
Distribution failed to save LeTV. In September 2018, the new equity of Lerongzhi held by LeTV Holdings was auctioned, and LeTV lost control of its subsidiaries.
In April 2019, LeTV was delisted. To this day, there are still numerous LeTV creditors who failed to get back their arrears.
The storm known as “Little LeTV” seems to repeat the same mistakes as LeTV.
In 2015, Fengfeng Technology went public, winning 36 daily limit boards, and the market value was as high as 40 billion yuan.
However, the stock price of Storm Storm, which is unstable, has since fallen. By the end of 2017, the storm had been difficult to hide, and the stock price hovered above 20 yuan, less than one tenth of its peak.
At the end of 2017, Storm launched a product similar to Battle Cloud and One Chain Box-Storm Broadcast Control Cloud. It sells for up to 5999 yuan.
According to official information, the first 2,000 machines of Broadcast Control Cloud were snapped up within 5 minutes, and Storm earned nearly 12 million yuan.
