Core Viewpoint - The article discusses the controversies surrounding Chen Wenbin and Jiufang Zhitu's transformation, highlighting the similarities between Jiufang Zhitu's current practices and the past issues faced by Yinke Holdings, particularly in terms of compliance and customer engagement strategies [1][2]. Group 1: Company Background and Controversies - Chen Wenbin, founder of Yinke Holdings, faced controversies due to irregularities in commodity trading, leading to the establishment of Jiufang Zhitu, which continues to operate on the edge of legality [1]. - Jiufang Zhitu's business practices show similarities to those of Yinke Holdings, particularly in high leverage and frequent trading that amplified investor losses [1]. - The company has been accused of using misleading marketing tactics and high-pressure sales strategies reminiscent of Yinke Holdings' past practices [1][5]. Group 2: Business Operations and Financials - Jiufang Zhitu has transitioned to software subscription and investment advisory services, yet continues to engage in practices that may lead to customer misguidance, such as high-priced membership fees and frequent service upgrades [1][2]. - The company announced a share placement agreement to sell 20 million shares at HKD 39.25 each, representing approximately 4.46% of its existing share capital, with a projected increase in issued share capital by about 4.27% [2][3]. - The estimated net proceeds from the share placement are approximately HKD 746 million, intended for developing on-chain financial resources and exploring digital asset advisory models [3][4]. Group 3: Regulatory Issues - Jiufang Zhitu has faced scrutiny from regulatory bodies, with the Shanghai Securities Regulatory Bureau identifying misleading promotional content and unauthorized investment advice practices [5][6]. - The company has been ordered to rectify its operations due to violations of investment advisory regulations, including providing advice without proper registration [6].
九方智投控股配售月被质疑存违规风险 年初被责令改正