On the evening of December 25, 2020, Youzu announced the fall of a commercial star.
In the announcement, the board of directors of Youzu Network stated that it received a notification from the family of Lynch, the chairman and general manager, actual controller and controlling shareholder, that Lynch died on December 25 due to invalid treatment.
Lin Zi was born in 1981 and graduated from Nanjing University of Posts and Telecommunications in 2004. In 2009, he founded the interactive entertainment provider Youzu Network. In June 2014, Youzu Network landed on the A-share main board. Lynch’s business road can be described as smooth, and his personal Gained enviable wealth. In the 2020 Hurun Post-80s Self-made Rich List, Lynch ranked 31st with a fortune of 6.8 billion yuan.
However, this young and successful business star would never have imagined that his life would be frozen at the age of 39. Not only that, but after his death, there are still many unresolved issues.
Question 1: Did Lynch die of poisoning?
At noon on December 23, the news that Lin Qi, chairman of Youzu Network, was poisoned began to ferment. At noon that day, insiders in the game industry revealed to reporters that Lynch, chairman of Youzu Network, was poisoned by executives. However, when the reporter called the insiders of Youzu Network for verification, the other party said that this was a rumor. Lynch was currently recuperating in the hospital, and the follow-up progress was subject to the announcement. On the afternoon of the same day, the reporter called the Office of the Secretary of the Board of Directors of Youzu Network. The staff of the securities department said that the company’s current operating conditions were normal. The reporter repeatedly asked whether the chairman and management were performing their duties normally.
Immediately, on the evening of the 23rd, the Shanghai police notified that at about 17:00 on December 17th, the police received a report that a hospital found a patient Lin (male, 39 years old) suspected of being poisoned during diagnosis and treatment. After receiving the report, the police immediately launched an investigation. After on-site investigation and investigation visits, it was found that Lin’s colleague Xu (male, 39 years old) was suspected of committing a major crime.
On the evening of the same day, Youzu.com also issued an announcement saying that it had recently received a notification from the family of Lynch, the chairman and general manager, that Lynch was admitted to the hospital recently due to physical discomfort. After treatment, his current physical condition is stable and continues to improve. The above matters have not affected the normal operation of the company. The management of the company is diligent and responsible and performs its duties normally to ensure the continuous and stable operation of the company. At present, the company’s business operation and management are all normal.
Immediately afterwards, Youzu Network stated in a “Note on Mr. Lynch’s Current Situation” that Lynch developed acute symptoms of discomfort on the way home on the evening of December 16, and immediately rushed to the hospital on his own. Immediately get in touch with the police. Lynch is currently hospitalized and recovering, with stable signs.
On the evening of December 25, Youzu announced the news of Lynch’s death, but the announcement only revealed that Lynch died on December 25 due to ineffective treatment.
Why did Lynch die? Was it poisoned? The company has not given exact information yet.
Question 2: Who is the suspect Xu?
In the “Notes on Mr. Lynch’s Current Situation” released by Youzu Network on December 23, Youzu Network stated that according to the police report, the suspect in this case, Xu, worked for a film and television company invested by a certain person.
Insiders said that the suspect named by the police was Xu Yao. Xu Yao, who has a gorgeous legal background, appeared as the CEO of Three-Body Problem in September this year. This is also the last time Xu Yao has made a public appearance in media reports so far.
According to the information previously released by the management of Youzu Network, Xu Yao, born in 1981, holds a master’s degree, graduated from the Law Department of Southwest University of Political Science and Law in 2003, graduated from the Insurance Law School of Paul Cézanne University in France in 2006, and graduated in 2008. University of Michigan (Ann Arbor) School of Law. From September 2008 to March 2010, he worked as a lawyer in the Hong Kong office of Dewey & Loebers LLP; from May 2010 to April 2017, he served as the Group President Assistant, Group General Counsel, and Group Legal Affairs of Fosun Group General Manager of the Department; since May 2017, he has worked in Youzu Network Co., Ltd.
Question 3: After Lynch leaves, who will be at the helm of Youzu Network?
Youzu Network stated in the announcement on the evening of the 25th that Lynch, as the founder of the company, has devoted himself to the operation of the company since its establishment, laid a solid foundation for the company’s long-term development and made indelible contributions.Lynch
During his tenure as the chairman and general manager of the company, he was diligent and conscientious, and fulfilled his duties faithfully and honestly. Lynch directly holds 220 million shares of the company, accounting for 23.99% of the company’s total share capital, and is the company’s controlling shareholder and actual controller.
What happens to Lynch’s holdings after his death? Who will be at the helm of Youzu Network in the future?
The above announcement stated that the shares of the company held by Lynch will go through inheritance procedures in accordance with laws and regulations. In addition, according to the “Articles of Association”, the board of directors of the company consists of 9 directors. After Lynch’s death, the number of members of the company’s board of directors was reduced to 8, which is not lower than the minimum number of board members stipulated by the “Company Law”. The company will elect suitable candidates for chairman and general manager as soon as possible in accordance with the “Articles of Association” and relevant laws and regulations, and convene the board of directors and shareholders’ meeting to complete the relevant by-election work.
The announcement also stated that at present, members of the company’s board of directors, board of supervisors and senior management team perform their duties normally, and the company’s business operations are carried out normally. All the directors, supervisors, senior management and employees of the company will continue to devote themselves to the sustainable and stable development of the company.
Question 4: Are there any violations of YOOZOO’s online information disclosure?
At the beginning, the media asked Youzu Network to verify relevant information. The company’s personnel refuted the rumor that “the poisoning is a rumor”. In the subsequent announcement, Youzu Network also avoided the important and said lightly, “Lynch was admitted to the hospital due to physical discomfort and received treatment after treatment. The current physical condition is stable and continues to improve.” It was not until later that the police reported the “slap in the face” that Youzu Network had to admit the fact that Chairman Lynch was accidentally hospitalized. This series of actions allowed the outside world to disclose information on Youzu Network. The question created doubts.
Lawyer Liu Anbang of Beijing Deheng Law Firm told the Beijing News that Article 30 of the “Administrative Measures for Information Disclosure of Listed Companies” promulgated by the China Securities Regulatory Commission stipulates: “The occurrence of such incidents may have a significant impact on the trading prices of listed companies’ securities and their derivatives. If investors have not yet learned about major events that affect the event, the listed company shall immediately disclose it, explaining the cause of the event, the current state and the possible impact.” The China Securities Regulatory Commission enumerates the definition of major events. Changes in directors, more than one-third of the supervisors or managers; the inability of the chairman or manager to perform their duties” is a major event. According to public information, Lynch is the current chairman and general manager of Youzu Network, and is also the largest shareholder. Therefore, according to the “Administrative Measures for Information Disclosure”, if Lynch’s physical condition is too severe to perform his duties, Youzu Network should issue an announcement in a timely manner.
During an interview with the Securities Department by the Beijing News Shell Finance reporter, when asked about the chairman’s current status and whether he could perform his duties normally, the staff of the Securities Department said that this is the chairman’s private matter. Lawyer Liu Anbang of Beijing Deheng Law Firm told the Beijing News that according to Article 5 of the Administrative Measures for Information Disclosure of Listed Companies: “Information disclosure documents mainly include prospectuses, prospectuses, listing announcements, periodic reports and interim reports. etc.” Information disclosure of listed companies refers to the act of disclosing the relevant information of the company to investors and the public through the above forms.
“No matter when it is exposed, the stock price will definitely fall under the influence of market sentiment. If the paper can’t contain the fire, it must fall after falling first.” A person in the secondary market told the Beijing News Shell Finance reporter. Only two minutes after the market opened on December 24, YOOZOO’s stock price fell 9.52%, and then recovered slightly.
Question 5: Where is the capital layout of the “Three-Body Universe” going?
Xu Yao started the story between Youzu and “Three-Body Problem”. In September of this year, he also made a public appearance as CEO of Trisolaran Universe. It is worth noting that although they are both controlled by Lynch, the Three-Body Problem is not within the system of listed companies.
The last time The Three-Body Problem attracted huge attention was on September 2. The three-body universe and Youzu Group, the copyright owners of the “Three-Body Problem” trilogy, and Netflix, the world’s largest paid streaming platform, jointly announced that they had reached an agreement. Will jointly develop and produce the English series of “Three-Body Problem”. In 2014, after Youzu Network acquired the development copyright of “Three-Body Problem” for the first time, it has not been able to release the adaptation results satisfactory to all parties.
The Three-Body Problem is the official team for the development of the “Three-Body Problem” IP, and is the complete copyright owner of “Three-Body Problem” (excluding publishing rights). Three-body Universe was established in December 2018 with a registered capital of 21.052632 million yuan. The legal representative is Lynch, who directly or indirectly holds 65.69% of the equity of Three-body Universe and is the ultimate beneficiary of Three-body Universe. Lynch is also the chairman of Youzu Group.
Since 2016, the “Three-Body Problem” stage play has started a national tour, but since then, the IP development of “Three-Body Problem” has not fluctuated greatly. Since 2019, “Three-Body Problem” has accelerated the pace of IP development, and various capitals have also Have entered.
In June 2019, the Three-Body Problem and Station B announced the joint development of the “Three-Body Problem” animation drama. It took three years to create this nationally created sci-fi animation giant, which is expected to be officially launched in 2021. So far, two trailer PVs have been released, with more than 13 million views and nearly 2 million followers.
On June 18 this year, Youzu.com released an announcement on signing a copyright license contract and related transactions. The Three-Body Problem has been legally and effectively authorized to hold the rights to the series of novels “Three-Body Problem”. The rights of distribution, adaptation and derivative products are granted to YOOZOO Entertainment, a wholly-owned subsidiary of YOOZOO. Youzu Network stated on the interactive platform that it has the authorization for the game development, distribution, adaptation and derivative products of “Three-Body Problem” from June 17, 2020 to June 16, 2030.
A reporter from the Beijing News called the Office of the Secretary of the Board of Directors of Youzu Network on September 2. The relevant staff said that the development of the “Three-Body Problem” game by Youzu Network is still in the project approval stage, and further announcements will be made in the follow-up progress.